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When I buy I intentionally buy well below what I can afford, so being underwater has not been an issue for me. As far as abandoning a metro area, it took quite
by vonmoltke 8y ago
When I buy I intentionally buy well below what I can afford, so being underwater has not been an issue for me.
As far as abandoning a metro area, it took quite a bit for my wife and I to finally uproot. That we owned our house was relatively low on the friction list. Hell, my wife wants to delay buying again (we rent) because she finds the act of moving so stressful.
- scarface74 8y agoBeing “underwater” is not about buying less than you can afford. It’s about when you get ready to sell, the house is worth less than you owe if you have to move. My mortgage is less than 25% of our net pay, but if it fell in value to a point where it was worth less than $50K what we owed on it and we had to move, we would be in trouble.