Reply to To those who can't make ends meet on $250K, take note:

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[quote=Anonymous][quote=Anonymous]
In my age bracket 30-35, I know 4-5 other people in the same position each owning 4 houses or condos. I even know someone who has 6. We are getting by because the DC economy is pretty good but think about it, what would happen if we all went bankrupt?

This was common in 2005 because there was no way any of us could get to where the older generation's equity position was without taking on more homes. This isn't a pitty call or a bitching it's a truth of the situation a lot of us are in. We make good incomes and would like to start a family in a decent size home and saw the only way towards this goal was to buy multiple properties or to hold on to a previous one while we moved to a larger one.  This isn't greed this is the reality of the situation. Back before the bubble you could save up for 20% down on a decent sized (2500 SQRFT+) newer home on the average salary without any issues, now a days it is very difficult if not impossible.[/quote]

So, wait, I am supposed to feel bad because you made bad financial decisions? Your friends were all greedy. And you are making excuses.[/quote]

You would be suprised of how many people around here do own multiple places and are underwater. If they all decided to stop paying or another housing collapse happened it would be a nightmare. [/quote]

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