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Real Estate
Reply to "What I don't get: When people complain that they are drowning because their house is underwater"
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[quote=Anonymous][quote=Anonymous]But....can you still afford the payment? That's the question. You still have to live somewhere. If you stay long enough, you will pay the fucker off. So I don't buy the "OMG, I will never have any equity EVER!" argument, ESPECIALLY not in Northern Virginia. People are constantly like "OMG, my house lost 50K!" Meanwhile, 50K is less than 10% of their house value. [/quote] The entire nation doesn't live in No. Virginia. Houses underwater are crippling this country. You will have to pull yourself out of the DC bubble to get that. The people that are paying their underwater mortgages are stuck in the same neighborhood as people who lose their jobs, get transferred to other parts of the country, etc. So, even if you are paying you and your neighborhood feel the ripples. [/quote]
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