Getting a home mortgage used to be a symbol of achieving the American Dream. In years past, homeowners often stayed in their homes, paid their mortgages off and continued to live in those homes for the rest of their lives. But in today’s world, we move around a lot more. And there has been an increasing trend among young people to continuing renting apartments instead of being saddled with mortgage payments.

This trend has only been exacerbated by changes in the real estate market, which have caused concern among people with mortgages. Many individuals who thought that the value of their homes would rise so that they could refinance their mortgages to pay for additional life needs are finding that the market is currently not in their favor. This has led young people to see mortgages as a burden instead of a benefit.

However, mortgages remain a better option than rentals for most people. Even those people who plan to move may find that the benefit of putting money into mortgages outweighs the risks of the real estate market. When you pay rent to a landlord, your money will never be yours again. In contrast, money put into mortgages is backed up by the value of the home. Even those people who decide to sell their homes and pay off their mortgages so they can move to a new location generally find that any money lost in the transaction is minimal compared to what they would have wasted on paying rent.

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