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Your blog reference was from two years ago, and things have deteriorated significantly since that was written.
However, if you really want to read something funny, take a look at this article from a New York Magazine writer perspective, in December 2003:
Do you keep waiting for someone to prick the housing bubble? Are you freaking out that you paid too much for your home, that you top-ticked the market with your buy? Do you wake up in the middle of the night, drenched with perspiration, convinced that your house isn’t worth a fraction of what you forked over, and that when the bubble bursts, you’ll be an indentured servant to the mortgage company?
Ahh, then this column’s for you, anxious friend. Because there is no housing bubble. Because you probably bought your house at a much cheaper price than you will be able to a couple of years from now. Because your house is worth much more than you think...I came away thinking, Holy cow, we are still early in the cycle of appreciation. I came away wishing to buy some houses, keep them in inventory, and then flip them over the next few years. As much as I love the stock market, I think real estate in this area still has stocks beaten.
Which is why you should stop worrying about what price you paid and ignore those anxiety-producing bubble stories. Your home, alas, is not a dot-com, soon to be deflated and delisted. It’s simply the best investment you’ll ever make.
Hmmm if you purchased it in 2006 in the North East or California maybe not. I understand you point but there was a peak and those who purchased at the peak in some areas are part of the 1- 6 who are upside down.
Here is the way I see it. Those people ran the financial institutions and were entrusted with knowing the ins and outs of the financial system. Those people knew what was going on just like all the financial think tanks. Their careers are not going to end with bonuses you can be pretty assured of that. Currently 24 separate investigations are going on right now and probably more to follow.
Hopefully, if all goes well, I'll make about 60K this year and I'm absolutely giddy. This spring, I plan on buying my first home and getting a new car and figure to still be able to save/invest about 1K per month. Things were looking bleak for me a year ago but luckily I found not one but two part time weekend jobs back in October. Now, after working part time on weekends for a few months in addition to my 9 to 5 I literally couldn't spend all of my money if I tried. I guess the secret is not raising my standard of living and focusing on paying off all debt. Cutting out eating out/fast food every night really goes a long way also. My only worry now is that I'll be punished for getting ahead and the Obama tax laws will confescate everything.
What do these fools do with all of their money? Wipe their bums with $100 bills?
Hopefully, if all goes well, I'll make about 60K this year and I'm absolutely giddy. This spring, I plan on buying my first home and getting a new car and figure to still be able to save/invest about 1K per month. Things were looking bleak for me a year ago but luckily I found not one but two part time weekend jobs back in October. Now, after working part time on weekends for a few months in addition to my 9 to 5 I literally couldn't spend all of my money if I tried. I guess the secret is not raising my standard of living and focusing on paying off all debt. Cutting out eating out/fast food every night really goes a long way also. My only worry now is that I'll be punished for getting ahead and the Obama tax laws will confescate everything.
What do these fools do with all of their money? Wipe their bums with $100 bills?
that's great!! Speak to a tax adviser though or a fin. planner (even at the bank) before you make a big investment, to be sure you know the projections for the (local) future.
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that's great!! Speak to a tax adviser though or a fin. planner (even at the bank) before you make a big investment, to be sure you know the projections for the (local) future.