Hello Carranza2, <<my home ... consider ... astronomical sums ... when am I going to sell? ... as much as 2.5 to 3 times my purchase price ... What to do? ... like my neighbors and my neighborhood ... closeness to ... work ... seen the stock market bubble pop, I fear that the next one to go kaput will be real estate bubble>>
Here you have a very practical puzzle to work on.
Your fear is unjustified. We should, at most, only fear the unknown, and at the minimum, be concerned about the uncertain.
What we know about, we must not fear. We must act.
Is the property going to 2-3x again in the next 36-60 months?
It is possible you will appreciate your neighbors much more if you have a thicker wad of cash in your pocket; and perhaps they you, when you offer to free them of their homestead at the pinnacle of real estate despair.
Or, you can always take out second mortgage and use the firepower to sell calls/buy puts on housing shares. I actually do not suggest this course of action for I do not sell naked calls, nor buy puts very often.
Or, perhaps most wisely, ask your wife what she prefers you doing about the home:0)
I know if I did, my wife would say Ok to sell if I want to, but if it goes up in price, she wants it bought back, and if it goes down, she wants a bigger place. So I do not ask.
Chugs, Jay |
