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Money and Finances
Reply to "If you are house poor, do you regret it?"
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[quote=Anonymous][quote=Anonymous]I understand your dilemma... because the houses are only going to get more expensive and it's unlikely that you'll be able to save enough to overcome the rising prices and rising rates to make your situation different in a few years. So much of it depends on your other expenses and your jobs. People's spending habits are wildly different. And do you have a job where it's reasonable to expect decent pay increase? Obviously not something to count on but better than knowing you've capped out. [/quote] But if they live in the area and own a house already, the house they own will continue to appreciate, too, while they save. I wouldn't feel comfortable taking on a 7 figure debt. But I'm sure that some folks get rich and others lose their shirts doing it.[/quote]
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