Very good! Seriously though, I'm absolutely no money expert, and am only operating from common sense. We are in a buyer's market now, which is course bad for sellers. My wife and I were considering moving to cut down on my commute. Not any more. We're going to sit tight and ride this thing out. It may get worse before it gets better, but it will get better. We're fortunate in that our house is about 90% equity (even in this market). I feel more comfortable with that as an asset than cash. Again, just the opinion of somebody who probably has no idea what he is talking about.
I have virtually the entire movie (GWTW) memorized line for line.
Another thing we middle-class homeowners need to do, with our house probably being our biggest “investment,” is keep a sharp eye out for any indication that Obama and the Democrats will bring back that outrageous Capital Gains tax on sale of primary residence. (Now if you live there 2 years and sell, no tax on “profit”).
If they start making noise about doing so, we have to fight, but if they pass it, depending on one’s equity, etc, it might make more sense to sell the house before it goes into effect, rather than sell when the law changes, and give 1/3 to 1/2 your profit to the government.
That tax, plus the cost of realtors, cost of move, closing fees, money put into house for improvements, etc, can actually result in a LOSS - maybe not in the view of the IRS, but in the reality of our pocketbooks.
Then we’ll be saying, “As God is my witness, I’ll never go hungry again!”