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The Case Against 30-Year Mortgages

(www.wsj.com)
13 points paulpauper | 1 comments | 11 Oct 25 16:42 UTC | HN request time: 0.335s | source
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BJones12 ◴[11 Oct 25 17:04 UTC] No.45550758[source]▶
Here's the grain of salt: Canada and Australia do not have 30 year mortgages yet face similar housing woes.

That said, it seems like the article buried the lede and is really complaining about interest costs.

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bryanlarsen ◴[11 Oct 25 17:27 UTC] No.45550959[source]▶
House prices in Canada are dropping this year. Not much, and from an insanely high base, but the need to refinance at a higher interest rate has forced some people to sell.
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betaby ◴[11 Oct 25 18:38 UTC] No.45551516[source]▶
> House prices in Canada are dropping this year.

Where exactly?

For example, I live in Montreal, the stast for August:

Single-family home median price increased by 7.3% year-over-year to $633k.

Condo median price increased by 3.7% year-over-year to $422k.

Plex median price increased by 10.1% year-over-year to $840k.

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1. BJones12 ◴[11 Oct 25 19:26 UTC] No.45551930[source]▶
Toronto, mainly. Other places may be down but not enough to notice.

Quebec plays by its own set of rules.