Reply to There is no housing bubble in the DC area so get over it

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[quote=Anonymous][quote=Anonymous]In other words - don't rely on the bank to tell you what you can spend.   I'm surprised that people do. [/quote]

The problem is, people do that all the time.

For instance, it's widely accepted that you should start saving AT LEAST 10-15% of your income for retirement, starting in your 20's.

http://online.wsj.com/article/SB10001424127887323639604578368823406398606.html

"Fifty-seven percent of U.S. workers surveyed reported less than $25,000 in total household savings and investments excluding their homes, according to a report to be released Tuesday by the Employee Benefit Research Institute."

Remember, if there's anything this latest recession has proven, it's that doing the right thing [u]isn't enough[/u], you have to find a way to protect your choices against the behavior of people doing the wrong thing.

And when home prices are being evaluated by a population who has yet to learn how to simply keep a dollar in an account, I have a hard time judging them on a 30-year investment in real estate. Especially in an extremely volatile market that's receiving government interference...oops, I meant to say intervention![/quote]

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