Reply to Down and Out on $250K/year....

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]PP - no, it's just a great house in an even greater location that has kept its value.  Maybe I'm just fiscally conservative and didn't drain all the equity out of our house in the last 3 years.   It's true that we are sitting on a heap of cash and investments.  Ok, maybe I really am Richie Rich.[/quote]

did you finally have an epiphany?  Because I feel like you're saying that those who bought at the height of the market and have lost value aren't fiscally conservative.  How do you know?  Maybe they bought a cheaper house in the burbs because they didn't want to be house poor.[/quote]

Nope, not what I said.  I said maybe I'm fiscally conservative (aka cheap) and that's why I only shop at Old Navy/Gap, for instance.  But I'm saying maybe I could feel more flush with cash had I taken some equity out of our house.  But we didn't do that.  I'm not judging anyone on the housing market crash.  Don't know where you got that from.  Just talking about myself.  A cheaper house in the burbs wasn't in the cards for us because we don't like to drive and either walk to work/preschool/shopping, or take public transportation.  My point was just that we live modestly but maybe people who make the same amount as we do live larger because they took equity out of their house.  I live by strict financial rules for myself and would not consider doing that unless there was an emergency.[/quote]

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