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IANREE (I Am Not a Real Estate Expert) so please take the following with a grain of salt. If you want to buy a house and believe you can afford one (even at an
by basementcat 3y ago
IANREE (I Am Not a Real Estate Expert) so please take the following with a grain of salt. If you want to buy a house and believe you can afford one (even at an "inflated" price) along with the cost of maintenance, property taxes, assessments, etc. then go ahead and do it. Best case scenario, real estate values continue to rise and you’re glad you made the move. Worst case, there’s a 2008-style crash and you and millions of other voters get government bailouts.
If you’re happy in your current situation, that’s great too!
- woodruffw 3y ago> Worst case, there’s a 2008-style crash and you and millions of other voters get government bailouts. I don't think individual mortgage holders, as a class, got government bailouts during the GFC. The closest thing I can think of is the Troubled Asset Relief Program which, to my understanding, largely benefited the banks themselves (by allowing them to offload toxic assets). Am I missing something?
- basementcat 3y agohttps://en.m.wikipedia.org/wiki/Home_Affordable_Refinance_Program https://en.m.wikipedia.org/wiki/Home_Affordable_Refinance_Pr... https://en.m.wikipedia.org/wiki/Making_Home_Affordable https://en.m.wikipedia.org/wiki/Making_Home_Affordable
- huytersd 3y agoNo one got government bailouts during the 2008 crash. People had their houses foreclosed on and the big boys got the bailouts, not regular folks. What on earth are you referring to?