meadandale, 3 years ago is not exactly a long time. You’ll most likely see your new found equity evaporate. I think that houses will fall back to 2000-2001 prices, in which case you’ll be under water. Just my opinion. Only time will tell.
You’re still paying more than rent. You may be able to afford the house payments, but you won’t feel too good about it if your neighbors pay less than you to live in the same neighborhood. 7 years from now, your house might be worth just about what you paid for it.
But as Realtors will tell you, if you hold on for the long term you’ll be OK. But the neighbors who bought later at lower prices will be much better off in terms of equity and property taxes.
Think about the opportunity cost of paying interest, taxes and HOA for 10 years on a house that has no appreciation. You’ll be shocked if you put the numbers on a spreadsheet.