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Reply to "If you are house poor, do you regret it?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]NP here. Years ago, we bought a smallish house on a reasonable lot in a moderately close in suburb. Our mortgage payment was a bit more than one of my paychecks; things were tight. [b]Fast forward 20 years. [/b] My salary has tripled. The house payment has gone up, but by about $200 dollars (taxes). The mortgage is about 1/2 of one paycheck. Oh, and the house has appreciated while we paid down the mortgage. Now, we were paying nearly the same in rent when we bought the house, so for the down payment (10%) + the same cash flow, we have gone from 25K in cash (down payment) to 550K in equity.[/quote] :roll: [/quote] I dont understand the point of the PP’s paragraph. Everyone builds equity over 20 years...[/quote] I believe the point may have been that house poor is a temporary thing.[/quote]
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