Reply to Why is DCUM SO conservative with housing?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm a millennial.  I watched the housing crisis in 2008 eat up my parents' neighborhood (my parents were fine).  The crash also resulted in me losing my post graduation job when I was a senior (I had done co op with them) and they also laid off a huge number of engineers, so the market was flooded with more experienced workers.  I ended up doing a masters to delay entry into the job market  which worked out for me, but it was a gamble.

So I guess experience taught me to be cautious.[/quote]

Very smart move.[/quote]

It's [i]smart[/i] to act like a once in a 100 year crash is always around the corner? No, it's not. It's foolish paranoia. Meanwhile the peers the young PP graduated college with who bought expensive houses they "couldn't afford" ( :roll: ) in 2009 to 2019 are laughing to the bank. Making big bucks and living large while the PP lives in fear in some modest home.[/quote]

What's wrong with a modest home though, as long as the neighborhood is decent? My time is precious and I don't want to have a big house to clean/upkeep or to have to manage house cleaners.[/quote]

[b]Scared money doesn't make money. The peers of PP's who swung for the fences on a bigger home in a premier/hot zip code saw far more appreciation than PP who lives in some "conservative/modest" s***shack or condo[/b]. So not only did they make more money, they got to live lavishly. How is that difficult to comprehend? Being "conservative" on a home is ignorant. Actually, it more often than not is just a cope for being too poor and not having the income, credit score, or down payment to go bigger.[/quote]

Except those who "swung for the fences" had to pay mortgages, property taxes and transaction fees when selling while those who didn't were able to invest for record gains in the stock market during the same period.
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