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A friend bought his house in Sunnyvale at the peak and I think the trough was about 30% lower. The decline had no effect whatever on his life, before long it wa
by paulsutter 8y ago
A friend bought his house in Sunnyvale at the peak and I think the trough was about 30% lower. The decline had no effect whatever on his life, before long it was multiple times his original price.
- thatfrenchguy 8y agoUnless you get fired and you can’t afford your mortgage.
- mateo411 8y agoIf you get fired or laid off, then you get another job.
- ghaff 8y agoSaid a lot of people in 1999. And say a lot of people who are commanding high-level wages for relatively specialized skills and experience.
- nostrademons 8y agoThis was not always possible in 1991 or 2002 or even 2009.
- mateo411 8y agoThis is true. The biggest risk with buying is that there could be a recession in the near future and you will be unemployed.
- seanmcdirmid 8y agoMy land lady in San Carlos told me she had a heck of a time keeping her house in the late 80s early 90s housing crash. Ya, you can win if you are liquid enough to weather the storm, not everyone is though, especially if you are heavily leveraged and go underwater on your loan.