Esmith,
But isn’t that the point of all these conversations we have? Your friend may have been a prudent buyer in the microeconomic sense but he was a f*cked borrower in the macro world? That is the point of the thread “Harveston Down the Drain.” How smart is it to sit in a house that you can well afford to stay in,but is now worth $100,000 to $200,000
less? Doesn’t the opportunity cost of your money weigh in?
Not only that, how many prudent buyers thought they were buying into one kind of neighborhood only to find out any ninny with a pulse could buy there? A lot of people on this web site are looking for upper middle class neighborhoods and they do so for a reason but suppose you thought you were buying into that but it was all a lie? Those people were stretching beyond their reach and buying more home than they should have and are in a different neighborhood altogether.
