Reply to Should current homeowners wish for home values to decline?

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[quote=Anonymous][quote]
Anonymous wrote:
It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it. If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.

This. I'm sorry that your priorities and expenses now are not the same as mine were when I was your age, but your salary is also significantly higher than mine was when I was your age and the cost of everything has gone up for me, too. Do what the rest of us did and [b]start small and crappy,[/b] then work your way up.[/quote]

This is great advice. Find the crappiest place you can in a preferred location. That's what we did. Buy the house with the unfinished basement, bathrooms that function but are ugly (we lived with that for a long time while we saved money to fix them and did a lot ourselves). If the house has a bigger yard even better (and most older homes had bigger yards). This way you have privacy and may actually be able to add on in the future. We bought a solid, but outdated house years ago. We have touched every room and finished the basement (added a full bath there). The yard is beautiful. Don't watch HGTV! And be proud of what you are doing. You have the opportunity to make something the way YOU want it (not with the cheap stuff the flippers put in). [/quote]

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