Family can't move into house they bought

[displacedinMN]

Originally Posted by DaneMcCloud

People always contend there's a "Housing Bubble" and that prices will eventually "Come Down". But when has that ever happened in large markets before?

We bought our home 17 years ago and all I heard was "Wow! That's a lot of money! I'm going to wait until prices come down because these prices can't last!!".

17 years later, my home is worth three times the purchase amount and no, it has never gone down in value.

The market is going crazy everywhere, from South Carolina to the panhandle of Florida to the entire West Coast. If it goes down in one market, it'll go down in every market and I just don't think that's going to happen.

Welcome to low interest rates and a housing shortage.

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.