Great Point DWCAP, it is well taken. I have seen posts here (not calling anyone out) that talked about a return to great depression! Wasn’t that over 20% unemployment? Good god my wife and I would head to Philippines and ride it out on Boracay if I really believed that to be the future.
In anycase, I have thought of you’re point as well. Where I’m at this very moment, and it can change quickly, is if I can get my payment down to around 3100 / month fixed rate, principal and interest as well as escrowed tax/insurance then I will stay in this house even if it dips below 400k. We’ll see what GCS says it can do.
Again I appreciate the reminder, and I promise myself whatever I do it will be after thinking it through. Hiring an advisor is a good advice, although I don’t really have any contacts to vet one. I was wondering if Rich Toscano’s firm would take me as a client but haven’t looked into it further at this point.
It’s kinda strange how slow this is happening, it’s like ahhh…impending potential financial ruin…..in about 2 years). Weird feeling.
“I hear people mentioning “going back to 2003 prices” does that statement assume that it’s 2003 prices + 3.03% per year for inflation?”
No. When people say “going back to 2003 prices”, they are generally talking about nominal values. So if your house was worth $400,000 in 2003, they believe it will eventually fall back down to $400,000 in the future.
“I hear people mentioning “going back to 2003 prices” does that statement assume that it’s 2003 prices + 3.03% per year for inflation?”
No. When people say “going back to 2003 prices”, they are generally talking about nominal values. So if your house was worth $400,000 in 2003, they believe it will eventually fall back down to $400,000 in the future.
“I hear people mentioning “going back to 2003 prices” does that statement assume that it’s 2003 prices + 3.03% per year for inflation?”
No. When people say “going back to 2003 prices”, they are generally talking about nominal values. So if your house was worth $400,000 in 2003, they believe it will eventually fall back down to $400,000 in the future.
“I hear people mentioning “going back to 2003 prices” does that statement assume that it’s 2003 prices + 3.03% per year for inflation?”
No. When people say “going back to 2003 prices”, they are generally talking about nominal values. So if your house was worth $400,000 in 2003, they believe it will eventually fall back down to $400,000 in the future.
“I hear people mentioning “going back to 2003 prices” does that statement assume that it’s 2003 prices + 3.03% per year for inflation?”
No. When people say “going back to 2003 prices”, they are generally talking about nominal values. So if your house was worth $400,000 in 2003, they believe it will eventually fall back down to $400,000 in the future.
