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Real Estate
Reply to "Overpaying on a house - how are you justifying it?"
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[quote=Anonymous]I dont think anyone should be overpaying for houses. Yes "ThE mArKeT dICtAtEs prices" but...so? Houses worth 100k a few years ago are listed for almost 300k now. There will be a correction eventually. Right now people are throwing 30-40k OVER asking so yes they are OVER PAYING. It's idiotic to do that right now. The only way you're not losing money is if inflation stays for good and mortgage rates stay current or constantly increase for infinity. People overpaying and having to pay $2000+ a month for a mortgage are making a mistake but they'll regret it. Unless you're homeless or you want a ton of space for your kids then there's absolutely no reason to be buying in this current market. People will justify it any way they see fit though. They just aren't the sharpest tool...[/quote]
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