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Reply to "Why is DCUM SO conservative with housing?"
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[quote=Anonymous]They are bragging, got lucky, for family help or don’t live around here. I honestly think a number don’t live around here (the number of suggestions for not spending more than $400k is pretty indicative of that). I also think also number got lucky. Bought 10-12 years ago, income rose significantly and the metrics worked out so they have a decent home that they could refinance 10 years later for a nice low payment and income doubled in the meantime. I haven’t gotten quite that lucky, but I definitely road the real estate market rise, and I have a great home that I refinanced for a low payment that I definitely could not afford today. The difference is that my home is awesome and affordable for me because I entered the real estate market in 2007, not because I was super conservative. My mortgage payment is less now than on my second home, purely by luck. [/quote]
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