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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Bob who wrote (5733)	10/1/2002 10:35:50 AM
From: SouthFloridaGuy	Read Replies (3) \| Respond to of 306849

I'd have to disagree with that. The moment people begin to tap home equity to buy an SUV, it becomes an investment. Call it guilt by association.

To: Bob who wrote (5733)	10/1/2002 11:31:35 AM
From: ggamer	Read Replies (1) \| Respond to of 306849

Good point! I just bought one of those $500k Townhomes in SF Bay Area that everyone jokes about on this thread and it sure beats holding any stock any day. I made my down payment on this newly built house seven months ago and the price has already appreciated 8%. If the prices were to drop 10% today, I am still safe. If the prices drop as much as 40%, then I am just going to enjoy the house and the views. If it drops 60%, I will join most other people in the bay area in communal suicide gatherings. GGamer

To: Bob who wrote (5733)	10/1/2002 12:25:36 PM
From: Paul Senior	Read Replies (1) \| Respond to of 306849

BobP, I'm in a similar category. I suspect, for me, I am going to be one of those many people who will never actually cash out to see the material wealth from home ownership - no car, travel, toys, 2nd home or any other fun things from selling or tapping mortgage. I'd guess that if I were to sell or otherwise take money out, it would likely be because of old-age requirements due to medical and/or a move to assisted-living quarters. Shoot... that's kind of bleak... But wait. If/when I pay off the mortgage, then I could use the money formerly spent on mortgage payments to buy some goodies too. (Relaxed sigh) Ah, now I feel better.