Quote:
Originally Posted by TheMercenary
You only lose if you pull it out at a loss. If you sit on it, it should come back up when the market recovers.
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That's what my brother says, and I have to agree. He told my parents "you've only lost if you pull your money out now."
The problems with the house buying thing, in my eyes, is so many people don't WANT a modest home that's liveable, and comfortable, and safe. They want the McMansion and the people going "damn that is some nice house you got there."
I see that all the time around here, everyone wanting to live in a subdivision (is that what you call them? not sure) where all the McMansions sit next to all the other McMansions that all look vaguely the same. I find that boring.
There are so many beautiful old homes with character. Granted, an older home will cost money in other ways, but why do so many people (sheep) want to be like all the others, keep up with the Joneses, show your friends how well you've done (even if you're drowning in debt?)
My dream is to save up, get some land, slowly build a log home. Not a big one, just a sweet cozy little home for me. It may take a long time...but it's my goal.