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Real Estate
Reply to "If you bought 2005-2007 and got hit, tell me your story, location and age"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The folks we know who bought at the height of the market in 2006 and ended up having to sell were genx (mostly younger ones).[/quote] Lots of millennials in their early 20s got approved for stated income loans[/quote] We're eldest millennials (Jan 1981) and were the first of our peers to buy in 2010 (which turned out to be fabulous timing). There were probably a few millennials who bough sooner, [b]but I think the housing price timing was the worst for younger GenX. They were the ones stretching for family homes in the 2004-2008 years. [/b][/quote] This is spot on accurate for me. Younger Gen X (1977) purchased SFH in 2007 for 340k; tried to sell for two years straight but the house was too underwater and wouldn't budge; lots of issues with the house; divorced; house foreclosed in 2014. I fully recovered and built a house in 2020. [/quote]
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