No I can’t afford to lose $200K & I am not a CEO. But I can ride out the depreciation and losing 200K on PAPER, and I hope I don’t have cash out on a down market when I get old. Why would someone go to bankruptcy if mortgage manageable? Also, if I have to move to a similar market when home prices are down, I can probably afford a similar home even if I lose money on the current one.
Also, I am NOT suggesting anyone to buy. The guy asked about the community, and I am just giving him my opinion of it, since i have a first-hand experience. Like he said, he can’t even buy (from a phase release) even if he wants to.
