Quote:
Originally Posted by cantdrv55
Except one couple had planned to keep buying up and eventually having enough equity to scale down and move to a townhouse paid in full. I never could work out their financial plan in my head. I guess I know why now - it doesn't compute! They are in a panic.
Still I feel bad for them. They just got caught up in the real estate feeding frenzy. Good thing they aren't near retirement yet.
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They were gambling with the price of houses. That is really no different than investing in the stock market. The good news is a house should eventually go back up in value as it is a "real" investment.
It sucks for them, but they gambled and lost. At least they did not invest in Enron!