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Real Estate
Reply to "Won the bid on a 900k house and now I feel sick"
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[quote=Anonymous][quote=Anonymous][quote]We must be cheap. We make about $200K together. We paid $550K for our 5 BR home. We wouldn't even go up to $600K. It's not worth being house poor. You never know what can happen in the future. sick spouse, divorce, fired no way I've seen too many foreclosures and short sales in my life. not worth it[/quote] Yeah, with an income of 200K, we wouldn't go to 600K either. Have been through two layoffs (one when in contract to buy a house in Brooklyn, which... had we bought for 410K, would now be worth 2 million, but oh well), have seen salaries go DOWN, and then up a little, and then stagnate. Have seen promised bonuses never materialize. We pay 3K a month in rent, in a neighborhood where houses go for 700-1MM. I don't think we can afford to buy here. I'm looking at 400K bungalows that aren't flipped. [/quote] too bad about the $410K home! But real estate is always a gamble. You just never know! [/quote]
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