Re: Mortgage Mayhem
Nords,
First, you make my point by illustrating that buying a home is not a slam dunk good investment, even in Hawaii. If you had some bad luck (divorce, bad invesment, job loss) in 1994, you might have lost it all.
Second, it is obvious from your post that you are more financially savvy than the average guy. You were able to navigate your way through the ups and downs of the market. Most people wouldn't.
Third, it took 18 years for you to say you are happy with the results. And you are saying that as we sit upon the top of the greatest national housing bubble of all times. Sounds like the Midas effect.
Fourth, I wonder how happy you will be in 5 years if home prices in Hawaii drop by nearly 50% AGAIN just like they did in the mid-1990s and just as they should if median home prices return to 3 to 5 times median income????
Originally posted by Nords
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Nords,
First, you make my point by illustrating that buying a home is not a slam dunk good investment, even in Hawaii. If you had some bad luck (divorce, bad invesment, job loss) in 1994, you might have lost it all.
Second, it is obvious from your post that you are more financially savvy than the average guy. You were able to navigate your way through the ups and downs of the market. Most people wouldn't.
Third, it took 18 years for you to say you are happy with the results. And you are saying that as we sit upon the top of the greatest national housing bubble of all times. Sounds like the Midas effect.
Fourth, I wonder how happy you will be in 5 years if home prices in Hawaii drop by nearly 50% AGAIN just like they did in the mid-1990s and just as they should if median home prices return to 3 to 5 times median income????
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