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Real Estate
Reply to "What I don't get: When people complain that they are drowning because their house is underwater"
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[quote=Anonymous]DH and I can still afford our mortgage easily but we can't afford to sell and so we are cramming our two kids into a tiny 2 bedroom condo and that sucks. I don't think we're suckers or stupid for assuming that by the time we had two kids, we'd have dumped 20 or 30k into equity and could sell and use that for a down payment on a new place. We've paid down about $60k on our mortgage...but our house is worth 70k less than it was when we bought it and prices in our neighborhood are still falling fast. Did YOU see the economic downturn coming in 2005, OP? If so, I guess you are far wiser than we are. Can you please look into your crystal ball and let us know when it will turn itself around? Nobody expects the Spanish Inquisition. [/quote]
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