#1 Needed to move as the airline industry was tanking after 9/11 and we could see the handwriting on the wall – tough times ahead for pilots. (We were right, and pay was slashed by 44%!!! and we had to endure a short furlough during the next year or so) If we had stayed and had to weather that storm out in San Diego, our family would have suffered.

#2 We wanted a lower payment than that which you suggest for extra cash for savings and kids’ activities (in particular they have an expensive string-instrument habit… I mean hobby)

#3 Interest rates were not quite as low as that when we were looking to move. yes, we could have re-fi’d but, you telling me that is using 20/20 hindsight, and we do not make decisions for our family based on ‘hopes’ that interest rates will decrease. In early 2002 (when we left). Similarly, I would not have bought a house hoping to cash out and move up to a better one when prices increased. I already thought prices were out of line with reality in 2002 – at least my reality.

#4 When you add in taxes and maintenance, I think your $2500 is a lot low on a $500k house.

#5 In early 2002, there weren’t any $500k homes (that were large enough) in the areas we wanted to live. Some friends had just sold their nasty dark condo for 475K in Coronado near us. THAT is what we could have bought at the time. No thank you.

#6 We did not make quite as much at the time (close though), and our increased salary has come as a result of sticking in one place and making connections, and better job.