Reply to Housing prices are nuts. Did you buy anyway?

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Reply to "Housing prices are nuts. Did you buy anyway?"

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[quote=Anonymous]We bought in MoCo, in a not as great section school wise, but it's what we can afford and the neighbors and neighborhood are ok. It's not our dream house or even the house we would really like, but it costs slightly less than the rent we were paying and we had the necessary down payment.

Not sure how the house will do if the prices go down again, but the area we bought in has not recovered (and may not ever recover) to 2005 prices. We bought because it is still better for us than living in a smaller rental and we were already losing 24,000+ in rent every year while sitting on our down payment, waiting for a decent place to come up for years.

I just had to accept the reality that the house we bought  is what we can afford in the DC metro area, and go from there.

At least it's better than our rental, and at least we have a tax deduction, and at least we have some land to separate us from irritating noisey neighbors. So, we decided that even if we break even at best, or lose some money at worst, it is still probably better than paying a landlord 24k+ a year to pay off the mortgage on his townhouse. [/quote]

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