Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: GodGunsGuts

I'm glad I bought my house in 1991. I could not afford it today, it's value has almost tripled.


4 posted on 09/23/2006 9:47:51 AM PDT by stm (Katherine Harris for US Senate!)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: stm

Don't worry, the bottom is falling out of the market any day now, and you'll be able to afford it again.


7 posted on 09/23/2006 9:58:35 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 4 | View Replies ]

To: stm

You got in at the right time. I'm happy for you. (I'm being serious).


9 posted on 09/23/2006 9:59:59 AM PDT by GodGunsGuts
[ Post Reply | Private Reply | To 4 | View Replies ]

To: stm

By the way, that's a facially incorrect statement. You DO afford it today, based upon your net worth if not your income. Otherwise you wouldn't be in it unless someone else was giving you free rent.

If you had your current net worth, and had to buy the home again at today's prices, you would have simply made the appropriate down payment and would be in the exact same position.

What you're saying is that you couldn't have afforded it in 1991 based on only your 1991 income at today's prices.

Well, (respectfully), duh.


11 posted on 09/23/2006 10:04:48 AM PDT by Larry Lucido
[ Post Reply | Private Reply | To 4 | View Replies ]

To: stm

I just sold mine, 300% cap gains over 14 years. Question now is how long to wait before getting back in again.


16 posted on 09/23/2006 10:08:14 AM PDT by skeeter
[ Post Reply | Private Reply | To 4 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson