sdr said: ” Rustico I think its time for you to revisit the “What is your household income” thread. The vast majority of those on this board are not median wage earners. This board is dominated by highly paid professionals and upwardly mobile young professionals who are on their way to becoming the former. Personally, I believe they should be able to get something they “love”!
sdr”
I imagine they will weigh in if they want to. I think I will heed what Bugs said, that most of us “have more in common than not.”
Even if the eventual price tag, is different I think the nature of the blog and your motivation to post your original posts confirms that, regardless of income or wealth, most of those who haven’t purchased yet consider a potential loss more important than “love” right now or that they are not willing to go after a little “love” right now and risk paying too much, when they anticipate they can likely get a lot of “love” later and get a better deal on it.
Of the regulars here, I surmise that most of us who want to own, given the market conditions, do own already. Each to his own.
This is your original post:
Reading Chris’s post of late have brought me back to something that was a strong position I hold personally that I’ve lost touch with a little. Houses are for living and enjoying. They are not and should not be financial instruments. I figured that of anyone here, he would be the one to time the bottom. But he’s much wiser than I would have thought. He found exactly what he wanted, at a price he could afford and I’ll bet he’s enjoying the heck out of his life these days.
There is a great irony on this board to me. Many of you are genuinely pissed off that people viewed homes as financial instruments and drove the prices up through speculation. However, when you look at housing all you want to focus on is the price and buying at the bottom.
I’m not advocating everyone to buy right now but the real decision point should be can I afford it, do I love it, is this the place I can reside for the next 10+ years and yes, is the price reasonable by some metric. There is way too much focus on the last point around here IMO.”
Best wishes
Chris, Thanks for pitching in in. It is a little awkward talking about an absentee third party like we did. Thanks for taking it well.
