What if I told you that buying a house can be great but is also a major commitment with some significant risks, and could ultimately be less financially and physically liberating than just renting
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Signed, A guy who loves his current house/equity but also moved during a housing recession and was therefore forced to rent a DC co-op unit with brutal mortgage (6% interest rate!) and eventually sell it for a loss when the board said he couldn't rent it anymore.
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Sometime I'll tell you kids abt a magical time called 2005 when everyone was buying homes in Hot New Areas bc of FOMO and rising prices/rents and it was obvious/easy money bc home prices only went up and who cares if the mortgage was 10x your income it's an amazing investment lol
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I was smart tho and didn't buy at the top I waited for the bubble to deflate and bought in 2007 LOLOLOL
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Replying to @scottlincicome
I contracted to buy a house in Jan 2006 & spent the next five months in a cold sweat trying to sell as the price plunged. But still sold for nearly twice what I paid in 2000.
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Replying to @baseballcrank @scottlincicome
The greatest financial move we ever made was buying our first co-op in 1998.
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Also selling all my stocks in late 1999 to make sure I had the money to buy a house.
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