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Real Estate
Reply to "Isn't trading up going to end as folks are priced out?"
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[quote=Anonymous][quote=Anonymous]We bought our house for $775, it’s now maybe $1.075 or something. We refinanced into a 15 year mortgage at 2.25 and have $350k left. Yeah, there’s no way I’m going to sell, but a $1.75 million place and saddle myself with a million dollar 30 year mortgage at 6.5%. Ugh. Right now the housing problem is solved for our family and we’re just on autopilot until we actually own it. The thought of resetting the process just to have bigger bathrooms and a mud room seems awful. Talk to me again if I ever have $2 million in cash on top of full retirement and education accounts. Then maybe. But now, never, for exactly the reasons you mentioned.[/quote] We are in pretty much the same exact position you are. [/quote]
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