Posted on 02/18/2023 7:22:50 AM PST by SaxxonWoods
Question: I was a victim of FOMO during the housing market craziness and bought a house for $200,000 over the asking price. Now house prices are coming back to reality, and I feel like I lost my hard-earned money. I don’t know what to do as I am living with constant stress thinking that I made a big financial mistake, and I’m not sure if I should consult a financing adviser for better decision-making and long-term investment planning.
My wife and I are in our 30s and are working in the Bay Area and making about $320,000 combined yearly. We live an average life and watch every dollar that we spend.
(Excerpt) Read more at marketwatch.com ...
What is a “FOMO”?
Is that an offshoot of the LGBTQWERTY cult? Is it a branch of HOMO?
Fear Of Missing Out.
FOMO = Fear of missing out
It is an easy way to go broke in a hurry.
He should take whatever skills they have that provide that kind of income and find some place where they can earn half as much that is at least a days drive from San Franshitsco.
“Question: I was a victim of FOMO during the housing market craziness and bought a house for $200,000 over the asking price. “
Victim? No. Fool.
FOMO: Fear Of Missing Out.
Saying that started in the Stock Market.
“Question: I was a victim of FOMO during the housing market craziness and bought a house for $200,000 over the asking price. “
Victim? No. Fool.”
Liberals don’t make mistakes, they are “victimized” by life and other people.
“””Whoever’s paying you that much money should fire you because you’re obviously a dunce.”””
BINGO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
You have to wonder about the job security for the guy and his wife in the Bay Area.
If their careers are in tech areas then their employer may eventually figure out they can hire remote workers who live in lower cost areas—and make these two go away....and save a ton of company money.
Living in high cost areas will continue to make less and less financial sense....
After my mom died, my brother decided to sell her 20-year-old doublewide and two acres in the country near me in rural TN. The doublewide was immaculate, but it was still 20 years old. He bought it from her before she passed for $30,000 to give her some spending money but she lived there rent free until she passed.
Well, he asked over $100,000 for it on a whim and advertised it in CA. The people that flew in from CA to look at it bought it on the spot and gave him $10,000 over asking price.
They sure are dumb, or desperate.
My brother laughed all the way to the bank.
Market Watch really does recycle these made up problems.
I would answer Yes, hire a professional demolition crew, blow up the house and leave Frisco as fast as possible.
The “secret” to accumulating wealth is spending less than you make. Somehow this obvious truth is forgotten or was never taught to today's youth.
Sadly, the guy who wrote the letter and his wife who make quite a bit of money are not likely to be accumulating much wealth any time soon.
People this stupid making $320k a year is proof that the USA is the greatest country in the world.
Yes, I’ve noticed. It’s like MarketWatch Classics.
They should have moved out of the Bay Area
Nah! just stay there and keep voting for the RATS and wallow in the sh^t.
“The “secret” to accumulating wealth is spending less than you make.”
The other “secret” is that reducing a dollar in expenses is worth more than increasing a dollar in income.
That is because of the income tax—and of course is especially critical in a high income tax state like California.
Having to ask if you need help suggests you need help.
In real estate the only rule to follow is "location, location, location". You chose the wrong one(s).
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