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Personal Finance (Not Investing) • What's with all the paid off mortgages?

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Two explanations:

- Mortgage interests used to be much higher, as high as the low teens. Homeowners had a lot more motivation to pay it off. The calculation is completely different when you borrow at 2% locked for 30 years.

- People who are paid in cash may not report all of their income and lack viable investment options. Putting all that cash in their home is a smart financial move.

Statistics: Posted by dumbttt — Fri Apr 05, 2024 3:30 pm — Replies 94 — Views 5860



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