“The bottom line is if you can afford the home, buy it, else move somewhere else or lower your expectations.”
Financially, I am having my best year ever. What does $250,000 annual income get you nowadays? A crackerbox in Del Sur? A hovel in la Jolla? No thanks.
How about I ignore your bottom line and continue to sit on the sidelines until prices normalize? Sure the temptation is there to jump in. But I prefer to overcome my sheeple urges and rent a sh**hole in Kensington for $1,900 a month. Meanwhile I am surrounded by million dollar spanish style homes, the mayor for a neighbor, and many disgruntled homeowners around me, who wish they were not a slave to their mortgage payment. By the way, I drive a Prius to save on gas and drive a little cleaner, and I like to hit Kobey’s on the weekend. Move somewhere else? Lower my expectations? I don’t think so. I enjoy the Piggington way of thinking. A bunch of Chicken Littles, you say? Hardly.
Yes, I own a home too. And I let my tenants cover my expenses and then some. Patience and common sense is a virtue when it comes to the housing market. Show me a Hummer in the driveway, and I’ll show you a house in pre-foreclosure. Nuff said.
