“We didn’t buy more home than we could afford, fifteen YEARS ago; more than half-way paid off, due to just throwing a few extra bucks ($25) on the principle each month.”
Well gee some people haven’t been able to stay in the same location for 15 years and had to buy at the inflated rates or rent an apartment.
There are millions who paid inflated housing prices and are now under water. Not all of these folks have bad loans or can’t make their payments.
We moved into our house in Dec.'92, with a 15 year mortgage that was paid off in about 8 or 9 years, I don't remember exactly but I do remember that terrific feeling of actually owning the house....Well, co owning it along with the tax assessor.
Yep. Every situation is different. I spent 20 years of my life moving from pillar to post.
And then I settled down, raised a family and stayed put. It was timing, as well as common sense. :)