My house is my house

tater · 08-26-10, 03:33 PM

It would "help" virtually anyone if the government simply paid off their mortgage. The government had no business messing with contractual arrangements.

I have little sympathy for people unwilling to take the single largest purchase in their lives seriously enough to understand it. Anyone capable of being victimized by "predatory" lending (a BS term if ever there was one) should not have been buying a home in the first place.

Ducimus is right about CA, it's insanely expensive, and unlike these idiots wanting to be bailed out for a bad CHOICE they made, he made the (100% correct) choice not to buy under those conditions. The one place I sort of differ is his statement that he could have been generating equity. While that is true, it's not all positive (owning vs renting). You are on the hook for repairs, etc, and remodeling is very expensive. In addition in a situation like right now, you could have bought at a high, and now be "underwater." While that is not a big deal in general, assuming you can live in the house for the foreseeable future, it absolutely makes you less mobile. So all things considered, you might well be ahead for not buying, ducimus.

The year the market really tanked, we were remodeling the house, and so all that money would have been invested, instead. So we look at the remodel as costing like half what it did, cause had it been invested, we'd have taken a bath

It's nice in the current market to be able to jump on a job offer, for example. Impossible if you cannot sell your house.

08-26-10, 03:33 PM	#26
tater Navy Seal Join Date: Mar 2007 Location: New Mexico, USA Posts: 9,023 Downloads: 8 Uploads: 2	It would "help" virtually anyone if the government simply paid off their mortgage. The government had no business messing with contractual arrangements. I have little sympathy for people unwilling to take the single largest purchase in their lives seriously enough to understand it. Anyone capable of being victimized by "predatory" lending (a BS term if ever there was one) should not have been buying a home in the first place. Ducimus is right about CA, it's insanely expensive, and unlike these idiots wanting to be bailed out for a bad CHOICE they made, he made the (100% correct) choice not to buy under those conditions. The one place I sort of differ is his statement that he could have been generating equity. While that is true, it's not all positive (owning vs renting). You are on the hook for repairs, etc, and remodeling is very expensive. In addition in a situation like right now, you could have bought at a high, and now be "underwater." While that is not a big deal in general, assuming you can live in the house for the foreseeable future, it absolutely makes you less mobile. So all things considered, you might well be ahead for not buying, ducimus. The year the market really tanked, we were remodeling the house, and so all that money would have been invested, instead. So we look at the remodel as costing like half what it did, cause had it been invested, we'd have taken a bath It's nice in the current market to be able to jump on a job offer, for example. Impossible if you cannot sell your house. Last edited by tater; 08-26-10 at 04:29 PM.