Quote:
Originally Posted by DementedReality
i bought my house in 1997 ... i want to upgrade now ...
if i used your advise, i wouldnt move because the houses are over valued. but isnt my house over valued, meaning it doesnt matter if i sell it and buy a new one ?
by my math, my debt level wont change, just my address which will be in a newer and nicer building.
so will it matter if i sell and buy in a down market?
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If you bought in 1997, no, in fact, you'd be a hundred miles ahead of everyone else if you stick to the same price range as your current house.
What Claeren's talking about are the people who bought a suburban home in Feb '07 and have now decided that they want to move, then they'd lose their shirt and then some. Which I'd agree.