>educate them on the most complicated and high-stakes financial decision they’ll have to make in their lives,
I disagree with this hyperbole (part of the overall tone of the article). I think taking on full-time college tuition at age 19, or having kids, are both far more complicated and consequential financial decisions.
Taking out a mortgage to purchase, let alone re-finance, an owner-occupied residence is something a lot of people do, perhaps more often than they buy a new mattress. If you have the minimum down payment and good income & credit report, it's not a big deal, and since there are a lot of legal protections all around for owner-occupied properties, it's straight-forward and low risk to the one taking out the mortgage.
I disagree with this hyperbole (part of the overall tone of the article). I think taking on full-time college tuition at age 19, or having kids, are both far more complicated and consequential financial decisions.
Taking out a mortgage to purchase, let alone re-finance, an owner-occupied residence is something a lot of people do, perhaps more often than they buy a new mattress. If you have the minimum down payment and good income & credit report, it's not a big deal, and since there are a lot of legal protections all around for owner-occupied properties, it's straight-forward and low risk to the one taking out the mortgage.