A mortgage diminishes your working life

The mortgage involves a number of factors that make us more compliant in the workplace and limit our professional development. Based on data provided by the Research Service of BBVA, a mortgage, far from being a way to consolidate the dream of the owner, is a weight that leaves us in job insecurity and unhappiness, and diminishes our chances. Some points to think before taking out a mortgage.

1. Labor Helplessness
Be subject to a monthly payment inevitable, the mortgage is required to maintain employment. A situation that gives companies a weapon to be submissive and perform abusive practices.

2. Anchored
The new economy of globalization; often ironically bless some regions while punishing others. Before a local economic downturn, tied to their property, the mortgage can not migrate in search of better opportunities. Or do it after a costly and complex sale process.

3. Unhappy
Leisure is an essential part of life, but the cost entertainment. A mortgage consumes more than the third of family income. Without extra money, no entertainment, leisure, and without the pressures of working life intolerable, this becomes less productivity and participation at work.

4. Extra costs
Any activity in the life of the mortgaged means fuel costs and time, unable to separate from its future ownership: transportation to work (before the housing boom, most of the new properties are on the outskirts of urban centers), the school, doctor …

Rent or buy? The decreases in interest rates and housing prices may be misleading. The crisis will not last forever and better macroeconomic and price can translate into higher rates. Moreover, one of the lines to cut down the glut of homes is the momentum of the car and the promotion of the modality of hire-purchase. Any alternative is better than bondage to the dream of owner status to the cost of labor unhappiness.