If Lewis's house increases in value by 3% each year over two decades, he could still lose money when he sells the house if _____.Select the best answer from the choices provided.a) interest rates on mortgages fell 3% over the same timeb) his repair and maintenance costs were more than 3% a yearc) homes in other areas of town lost more than 3% of their valued) his down payment was significantly more than 3% of the house value
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Answer:
If Lewis's house increases in value by 3% each year over two decades, he could still lose money when he sells the house if the interest rates on mortgages fell 3% over the same time. This is because falling in the value if the interest rates will cause potential buyers to move to the areas where the mortgage rates are lower as opposed to sticking to the homes in which the rates are 3%
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