Mortgage trap?
It is called appreciation.
I could sell our house in the US for $700,000 now. Was bought for $200,000. 2400 square feet, 4 bedroom, 3 bath, 3 car garage on 1 acre.
All paid for.
US $700,000 at 38 baht to the dollar = 26,600,000 baht
Now if you spent 65,000 baht a month in Thailand, that money would last you ~34 years
How is that for a mortgage trap?
At 65,000 baht a month, that mortage trap would last you 34 years living in Thailand
We could get 95,000 - 114,000 baht a month to rent it but we dont