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I did not borrow anything "on the house." It is simply worth $50k less than I paid in 2003, according to zillow.
My point was say I was hammered by the bubble and housing crash. Is my wife right in saying it was incompetence or mismanagement on my part that caused that $50k to disappear?
Why would you buy at the top of a bubble? People try not to buy stocks when the prices are high. Same applies to any other asset, like one's house.
your wife is clueless-it wasn't 50k that you had anyway if you are making payments.
you need a wife who will work as a team, but it doesn't look like you have that.
let the wife move out, and then you can wait for it to rise again in value. (although you may have a pretty long wait, eventually housing will come back). you still have a house to live in, a house you must have wanted.
It sounds like the timing couldn't possibly be worse, so not completely your fault. I would say the only thing that could be considered your fault is having too much faith in the opinion of experts and not objectively being able to assess the real worth of your house. I'm sure you weren't ready to sell and move at the height of the bubble. Its easy to look back in the past when the facts are available but a house usually isn't meant to be a quick profit investment IMO.
It sounds like the timing couldn't possibly be worse, so not completely your fault. I would say the only thing that could be considered your fault is having too much faith in the opinion of experts. I'm sure you weren't ready to sell and move at the height of the bubble. Its easy to look back in the past when the facts are available but a house usually isn't meant to be a quick profit investment IMO.
It was not an investment, nor fancy. First house 900 sf. 2/1. Very spartan. I've wanted to trade up for about 6 years. First prices were rising too fast, then implosion. Glad I didn't do that! Oh well. I do like the backyard.
It was not an investment, nor fancy. First house 900 sf. 2/1. Very spartan. I've wanted to trade up for about 6 years. First prices were rising too fast, then implosion. Glad I didn't do that! Oh well. I do like the backyard.
You did fine. Few recognize bubbles while they are still growing otherwise they would not be growing. We all have 20/20 hindsight. I should have bought Microsoft stock in 1980.
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