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Reply to "I was so close and now I’m shut out"
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[quote=Anonymous][quote=Anonymous] [b]If you hesitated to buy before, it means you weren't quite wealthy enough. [/b]You would have been house-poor and of course, being who you are, we'd have read all about it in one of your whiny posts. So... be happy with what you have, and consider that most people in this area cannot afford what you can afford. DCUM is a rarified sphere indeed. [/quote] OP was "wealthy enough" to have easily afforded a $950K house in 2020 when rates were rock bottom. But instead, OP wanted to wait to save for a "perfect" then-priced $1.2m house. Now OP's $1.2m dream house costs $1.6m and rates are 6%. OP could've compromised and bought the $950K house, which is now probably worth $1.15m. That would be a nice $200K increase in OP's net worth in two years without doing any real work other than deploying a downpayment and moving houses. Moral of the story: buy what you can when you can afford it, especially if interest rates are at historical lows.[/quote]
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