Posted by Kelly C on March 01, 2008 at 22:40:04 from (75.168.39.229):
In Reply to: Real estate. posted by Spook on February 29, 2008 at 17:12:40:
Man am I glad I got in the house buying thing early on. Sold our old house for a profit and got this one. Lost quite a bit of value in the last year but I still owe less than I paid for it. Papper is plum full of forclosers. The speculators need to get run out of the market. You know the ones who purchased using a interest only loan. And that interest was variable. Also a nice ballon after 5 years. Stupid loan.
Bad thing about that was for normal people trying to buy a house. Figured they better buy now wile they could still make the payment and possably eat. Or be totaly priced out of the market. Many of those purchased out of the metro to get a better price and got caught up when gas went up. that took care of the food part.
It will stablize. If you can make your payment best thing to do is wait it out.
I remember watching this and thinking how in the heck are these people affording these houses. Both the wife and I have better than average jobs for this area. These people where making less than me and thier wifes worked part time. I would not have even thought about buying one of these homes.
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