The US is an especially bad case because people move so frequently in the US. And almost no one buys a home with the full amount up front. Taken together this means that most homes are never fully paid off and the house is just sold and a new one bought before any “real” ownership (i.e. the bank isn’t able to reposess your house if you stop making mortgage payments) occurs.
The US is an especially bad case because people move so frequently in the US. And almost no one buys a home with the full amount up front. Taken together this means that most homes are never fully paid off and the house is just sold and a new one bought before any “real” ownership (i.e. the bank isn’t able to reposess your house if you stop making mortgage payments) occurs.