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There's every chance that won't happen in our lifetimes, and even if the appraisal improves over the next ten years or so, it may be with dollars so inflated as to render the property worth much less in real terms than it is today.
If the dollars get inflated, which I agree will happen, his mortgage numbers stay the same. It matters not one bit if inflated or deflated dollars pay off the house. He owes the same finite number of dollars on it.
The subject was value of the property, not how he would pay for it. Since you've broached the issue of the latter though, perhaps we should discuss how an American will pay off a fixed-dollar mortgage with a stagnant income when all the other necessities of life cost more. Do you have an answer for that?
'08 America Blue/White; Custom Headlamps, Custom Lowers, Clearview 20", Bafflectomy
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