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Author: johnmoni Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127696  
Subject: Re: Savings needed to buy? Date: 2/13/2003 8:51 AM
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"This is the sort of thing that makes me wonder, "Just who in the heck is buying all the property out there"? "

I wonder the same thing - I bought our house in 1996, but if we were in the market today, there'd be no way on God's earth we could afford it - all things being equal in terms of income, etc. And . . . I'd refuse to take out a $200-250K mortgage like many people are doing. I'd rather pay rent - those mortgage amounts will hold you hostage forever. I don't envy buyers in this market. We hope to have our mortgage paid off in a few years, and won't go anywhere till we retire - I don't care how much our house is supposedly worth. We got a note from a local real estate agent the other day saying that "people were interested in our neighborhood" if we wanted to sell. My wife and I looked at each other and said, "and go WHERE? Trade up?" no way.
johnmoni

who still can't believe that someone would pay for our house what "they" say its worth.
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