Chris is right that a house is not an investment, but, value is in relation to other things that money can buy.
Chris is apparently a wealthy investor and he’s certainly not giving up trips to Europe in order to own his house. His lifestyle would not be affected by a 30% to 50% drop. He probably would not give up anything else that he could buy. Well, perhaps a fractional ownership airplane.
relo, if you’re giving up trips to Europe to afford your house, then you’ve definitely made a mistake.
But once you make a mistake, it’s best to call it water-under-the bridge and move on to other things. But it’s important to recognize the mistake to you don’t repeat it. Don’t delude yourself by thinking that you’ll be “OK.”
Chris seems to say that you should work harder and earn more money to make up for your buying decision. What are you giving up when you work harder?
