This article reframes people being able to afford to stay in their homes as some kind of crisis.
Not present at any point in this article; any evidence that any American is stuck in a home they would rather leave. They couldn’t even be bothered to quote a single homeowner who wanted to move let alone anything indicating that this is a common sentiment.
The only evidence cited are previous rates of housing mobility which are then taken simply as a natural norm with any deviation an unwanted aberration.
The idea that people might generally want to live in the homes they bought long term is not considered. The idea that those who move or downsize are often doing so reluctantly under pressure from their mortgage is not considered.
The average American stay in a home is has been ~8 years.
That number is going to double with rates like this.
Given that the American system is supposed to be a market that’s a bad sign: frozen markets are not efficient markets.
This doesn’t mean people can stay in their homes in a crisis: it means people can’t move. A job the next city over would have to pay thousands more to make selling your home a rational decision. The article says it’s on average $511/mo different.
A crisis still lands you homeless in America.
