01-17-2009, 09:48 AM
It also depends on how much you put down. Did you buy the house to live in or as an investment? If it was an investment, only, well welcome to the business world and remember it's not only you that lost some leverage in the last year, it's like you and 85% of the rest of the country.
If you bought your home to live in and, as the poster above mentioned, you're making your paymets etc.. then relax and enjoy Hawaii. If you want to leave then yes you may have a problem if you have a ton of your money tied up in your home. I seriously doubt if it will take 20 years to see this turn around. You only loose if you sell right now.
What really amazes me is not your particular post but that there are hundreds of thousands of people such as yourself that bought homes, stocks etc.. and never considered the thought of values going down whether it was stocks, futures or real estate.
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
If you bought your home to live in and, as the poster above mentioned, you're making your paymets etc.. then relax and enjoy Hawaii. If you want to leave then yes you may have a problem if you have a ton of your money tied up in your home. I seriously doubt if it will take 20 years to see this turn around. You only loose if you sell right now.
What really amazes me is not your particular post but that there are hundreds of thousands of people such as yourself that bought homes, stocks etc.. and never considered the thought of values going down whether it was stocks, futures or real estate.
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
Blessings,
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young
dave
"It doesn't mean that much to me.. to mean that much to you." Neil Young