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Re: Except for renters wishing to buy ? ...longER
Posted by SilverAeroGuy (more from SilverAeroGuy) on Fri, 15 Dec 2006 17:06:51
In Reply to: Except for renters wishing to buy ? ...long, 91Aero.jr, Fri, 15 Dec 2006 15:30:12
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Just to illustrate,
when we rented, our monthly was very low for the area but, we were going to be kicked out when the landlord's daughter "came of age". Uh-Oh an extra $400 to $600 a month to rent elsewhere! We then asked ourselves "what would motgage payments be, what range are we in?" While at the time I did feel a bit "poor" I didn't realize how "rich" we were until after seeing just how much $... we were aproved for, WOW!
When housing prices were high (when we bought '02) the interest rates were low & lowering (...why we refinanced). That was the impitus that lead us to make the "we are buyers now" decision. 6 months later 'voila', HOUSE!! I do not think that if prices were lower and interest rates higher that we would have ended up being in the same boat (single family house vs just a condo).
One can only hope that in the end things work in your favor....
(Build the Green Line extension already...)
..sorry for the "Big Dig" angst there...but it's only been 30 years that they've been talking about it and I'm shall we say more 'involved' than just being a homeowner.
**End Rant*
posted by 65.96.187...
Posts in this Thread:
- Economics question -- housing market, vvk, Fri, 15 Dec 2006 12:17:00
- Thanks for answers (+), vvk, Mon, 18 Dec 2006 09:37:43
- Its an equity thing, DivrDon
, Fri, 15 Dec 2006 16:00:46 - Re: Economics question -- housing market, ursaw, Fri, 15 Dec 2006 15:20:13
- When house values are high, people feel rich, Dave in Houston, Fri, 15 Dec 2006 13:05:28
- Harder to borrow for luxuries with declining market, Jeff B, Fri, 15 Dec 2006 12:38:42
- I am NOT an economist..., PGAero
, Fri, 15 Dec 2006 12:36:53
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