Quote:
Originally posted by motion
There are people living on my block who paid $250k for their homes... now they're worth over $1 million. Are they wealthy? No way. Both people work, they drive 7 year old mini-vans and have one 2 week vacation every 3 years or so. Just middle-class America. Sure, they could cash out and move to Missouri and be considered wealthy.
|
Yep that's me - though my wife is a stay at home mom with our two kids under age 8. We live in a very nice community of predominantly two working income households. We can afford to stay here because I do most the labor myself. Flooring, tile, masonry, landscaping, light construction, paint, etc.. all a can do for me. Wife's vehicle is paid off and I drive a 00 Ford truck. No debt other than student loans and of course mortgage/insurance/taxes. As of this week the house has appreciated 50% since we've moved in 16 months ago.
That is on top of the 4 years of annual 25% rise we've been through.
Quote:
Originally posted by motion
I've had many sleepless nights wondering how in the hell to keep this thing propped up, believe me. After a while, no matter how nice it is here, it just gets old.
|
Right there with ya until the "gets old" part. We're in this house for the long run and are banking that in the next 20 years this house will be paid off and worth well North of the $1M it's valued at today.