[quote=CONCHO] Had he rented, his landlords might have sold the house out from under him and forced him to move. Or even worse, what if his landlord was a deadbeat and didn’t pay the mortgage on the property? [/quote]
The bubble price was quite a premium to pay to avoid the possibility of having to move. Of course he did move when he bought the place, didn’t he?
I don’t like dealing with a landlord either, but can’t agree that buying during the bubble was a smart move. 500k would get him so much more today.
The folks I know that paid bubble prices or took out HELOC’s from bubble appraisals thought the party would never end. I thought they were nuts.
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