Quote:
Originally Posted by displacedinMN
We bought at last house in 2001. Houses were moving fast. when the market "crashed" in 2007-8, we still could have sold our house for more than what we bought it. Sure, not as much of a profit, but still with equity.
Rode it out, refinanced. Waited and sold at a good time when our development started. Don't think you ever really lose on a house unless the areas around you go to hell for some reason.
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I bought my first house in 2009. It was one of the better houses in a white trash neighborhood. Lived in it for 4-5 years then rented it out for a couple of years. Ended up selling it for almost exactly what I paid for it. But even then when you factor in what I would have spent renting for 4 years I came out ahead.