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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Well I'm married with two kids.  Bought condo when [b]I thought prices were really, really low in 2006[/b].  Who knew the bottom was about to fall out.  So here I sit with my family of four in a 2 br, 970 sq. ft. apartment.  I cannot stand it.  My DH refuses to plan financially and save.  So not only do I hate where I live but I resent him.  Now that the recession is over I'm doing everything I can to save my pennies.  But my career has taken a hit due to kids so it will be like 30 years before I have enough to move on.  Yeah me!![/quote]
 :shock:  :shock:  :shock: [/quote]

Oh please. I bought a condo in 2006 that went way, way below asking price. [/quote]

If the asking price was ridiculously high like they all were at that time that does not mean much.
[/quote]

Nope. Original asking was not unreasonable. This was December of 06 and prices were down. They just were. [/quote]
Yes I remember. The price increase started to slow down at the end of 2006 but that was the peak.
Listen you are not the only who overpaid in 2006 but you are the first I hear who think prices were really low.

[/quote]

We bought/built in December 2005 and moved in April 2006.  The prices in our area peaked around August 2006 before finally starting down.  At the bottom  we had lost our 20% downpayment and were about another 30% underwater.  Now, prices have come back and although the price of our house is about 20% below what we paid, the between the rising house value and the payments we've made we now have about 10% equity in the house again.  A far cry from where we bought, but also much better than the bottom.  I know of dozens of cases similar to ours.  Additionally, our neighborhood of nearly 450 units had about 70-80 units purchased in 2006.  Of those, around 10-15 were foreclosed on and another dozen or so homeowners bailed on the neighborhood (a significant reason for the plummeting value of the neighborhood).  In 2012, the final foreclosure was sold off which is when the home prices started to rise again.

I'm surprised that anyone thinks that any prices in 2006 were not overly inflated.  [/quote]

We had a similar experience, although we purchased in early 2007 when it looked like home prices had fallen about as low as they were going to. It was not until the end of 2012 that we finally owed less on our condo than what units were selling for in our complex. Last fall home prices had finally risen to about $30k less than what we paid, so we decided to try to sell this spring. Luckily we were able to sell a couple months ago, for $15k less than what we paid in 2007 and that doesn't include the $20k in renovations, new appliances and staging to sell the place. You know, I can understand a person being tired of living in an apartment, but OP, from my perspective you've got it made. In the 7 years my husband and I lived in our condo with our 2 cats, we added 2 kids. Talk about cramped. And until you've made the trek to a laundry room in another building at 5am to wash all of your bed sheets because your 2 year old vomited and/or crapped all over every bed linen you own, or you've walked between the parking lot and your unit 5 or 6 times while carrying groceries from Costco with an infant strapped to your chest or any of the other major inconveniences of living in an apartment with young children, well, you really have no idea how good you have it. I count us as lucky that we were finally able to pay down our mortgage enough to sell and move on to a bigger place, but many aren't so lucky. I see families of 4 or even 5 who have lived in our complex for many years now. Can you imagine how cramped they are with 3 teenagers in a 2BR apartment? Maybe you should give gratitude a try. [/quote]

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