“Yes, Yes, Yes!!! This is exactly correct. This is why I responded to AN that I didin’t care about people who bought 18 years ago (assuming that they didn’t HELOC themselves into a bad position). They are irrelevent to some degree in this market.”
You really misread my post. I never said that people who bought 18 years ago will affect the market. What I meant to say is just like those who bought 18 years ago, if YOU buy a place a can sustain the payment for 18 years, you’ll be sitting pretty too. Maybe not as pretty as the guy who bought 2-5 years after you bought today but I’m pretty sure you’re still sitting pretty none the less. Like you, I don’t have that equity cushion either so my down payment will be cash I saved up. Hence for me, it’s all about “timing, timing, timing” because I want to be sitting prettier than the next guy 18 years from now :-).
