[irondoc]

In retrospect, we stretched a bit, but not by much. At the time of our purchase, our household net income was ~$14k/month. Our monthly mortgage obligation is $4600/month. So at the time of our purchase, we were paying about 33% of our post-tax income. My wife had the higher salary, so we are now at ~$6200 month income. Obviously, not a sustainable situation. I anticipate the value of our house has dropped another 10% since we purchased.

I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.

[irondoc]

In retrospect, we stretched a bit, but not by much. At the time of our purchase, our household net income was ~$14k/month. Our monthly mortgage obligation is $4600/month. So at the time of our purchase, we were paying about 33% of our post-tax income. My wife had the higher salary, so we are now at ~$6200 month income. Obviously, not a sustainable situation. I anticipate the value of our house has dropped another 10% since we purchased.

I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.

[irondoc]

In retrospect, we stretched a bit, but not by much. At the time of our purchase, our household net income was ~$14k/month. Our monthly mortgage obligation is $4600/month. So at the time of our purchase, we were paying about 33% of our post-tax income. My wife had the higher salary, so we are now at ~$6200 month income. Obviously, not a sustainable situation. I anticipate the value of our house has dropped another 10% since we purchased.

I don’t expect anyone to cry for us, but just wanted to make the point that not everyone has “greed” reasons for wanting home values to rise.

[irondoc]

Please remember, patientrenter, that individuals can have different motivations. My wife and I bought about 2 years ago “on the way down” and were very happy with our new home. 8 weeks after closing on our house, my wife lost her job. Fortunately, her former employer offered a great severance package. This, coupled with the fact that we put 25% down on our purchase, and that we have always been prudent savers, has allowed us to stay in our home for 2 years despite her unemployment. We have savings for another year, but then might be forced to sell. We don’t want to sell, but I track the market value of my house because I would also hope to minimize our loss on the house. So yes, I cheer when prices rise, even though I hope to never act upon that increase in value.

[irondoc]

Please remember, patientrenter, that individuals can have different motivations. My wife and I bought about 2 years ago “on the way down” and were very happy with our new home. 8 weeks after closing on our house, my wife lost her job. Fortunately, her former employer offered a great severance package. This, coupled with the fact that we put 25% down on our purchase, and that we have always been prudent savers, has allowed us to stay in our home for 2 years despite her unemployment. We have savings for another year, but then might be forced to sell. We don’t want to sell, but I track the market value of my house because I would also hope to minimize our loss on the house. So yes, I cheer when prices rise, even though I hope to never act upon that increase in value.

[irondoc]

Please remember, patientrenter, that individuals can have different motivations. My wife and I bought about 2 years ago “on the way down” and were very happy with our new home. 8 weeks after closing on our house, my wife lost her job. Fortunately, her former employer offered a great severance package. This, coupled with the fact that we put 25% down on our purchase, and that we have always been prudent savers, has allowed us to stay in our home for 2 years despite her unemployment. We have savings for another year, but then might be forced to sell. We don’t want to sell, but I track the market value of my house because I would also hope to minimize our loss on the house. So yes, I cheer when prices rise, even though I hope to never act upon that increase in value.

[irondoc]

Please remember, patientrenter, that individuals can have different motivations. My wife and I bought about 2 years ago “on the way down” and were very happy with our new home. 8 weeks after closing on our house, my wife lost her job. Fortunately, her former employer offered a great severance package. This, coupled with the fact that we put 25% down on our purchase, and that we have always been prudent savers, has allowed us to stay in our home for 2 years despite her unemployment. We have savings for another year, but then might be forced to sell. We don’t want to sell, but I track the market value of my house because I would also hope to minimize our loss on the house. So yes, I cheer when prices rise, even though I hope to never act upon that increase in value.

[irondoc]

Please remember, patientrenter, that individuals can have different motivations. My wife and I bought about 2 years ago “on the way down” and were very happy with our new home. 8 weeks after closing on our house, my wife lost her job. Fortunately, her former employer offered a great severance package. This, coupled with the fact that we put 25% down on our purchase, and that we have always been prudent savers, has allowed us to stay in our home for 2 years despite her unemployment. We have savings for another year, but then might be forced to sell. We don’t want to sell, but I track the market value of my house because I would also hope to minimize our loss on the house. So yes, I cheer when prices rise, even though I hope to never act upon that increase in value.

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