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As a recently newly minted homeowner who paid appropriate price in a non-bubble market I find the title highly offensive and hyperbolic. "Why are underwater ho
by njharman 17y ago
As a recently newly minted homeowner who paid appropriate price in a non-bubble market I find the title highly offensive and hyperbolic. "Why are underwater homeowners idiots" is the appropriate title.
Re: article itself.
There's also the small matter of jacking your credit for 7 years. With uncertain future and no savings many people rely on access to credit for emergencies. Not saying that is wise or that they should, but that is a fact.
- DenisM 17y agoAssuming you took out a mortgage, you are financing consumption by leveraging up. It's no different than buying a pack of beer on the pay-day-loan money. Not a financially smart move (unless your loan interest rates is below the long-term treasury rates).
- njharman 17y agohouse != pack of beer tax deductions, appreciation, equity, income(it's a duplex and I rent 1/2), plus all sorts of small things such as reduced auto insurance as it's rolled into home owners insurance