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Real Estate
Reply to "What I don't get: When people complain that they are drowning because their house is underwater"
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[quote=Anonymous]The value of your house has gone down. So has the value of your 401(k), I'm betting. "Buy and hold" is key to investing in anything -- equities or real estate. Back in the day, you weren't supposed to buy a house (or refinance) unless you were sure you'd be staying in place for at least 7 years. Otherwise, you risked losing money. Are any of the people who are now underwater living in a house they bought earlier than 2004? No refinancing (or at least only with a shorter term)?[/quote]
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