No it’s not…. patience, patience. If you leave you’ll regret it.
kicksavedave, you’re one of rare ones in San Diego who won’t spend all his money on real estate.
————————————————-
The problem with patience is that some people simply have more of it than others, and some people simply have more time to wait. My wife and I will be 40 this year, and we are both way behind on saving for retirement. Even if we did the unthinkable and bought a nice place and stayed in in for all 30 years and paid it off, we’d be 70 by then. We need to start socking away extra money quickly, and we have very little margin for error on the house purchase. Like you mentioned, we’re NOT going to do a toxic loan, or buy over our limits. But we also do have to take into consideration more than just “where we want to live”… we have to look at what makes the most sense overall. And spending $400K on a property that would run $150K in other, completely livable cities, well it’s hard to talk yourself into that making any sense. And thats IF, and only IF, those $600K houses, actually do come down to $400K. If they don’t, then we’ll just be 45 years old and have no equity…
