Topic: What’s the wackiest advice you’ve ever heard? “Be a homeowner. You can never lose money in real estate”. Oh yes, a real estate agent actually said that to us when we were looking for a house to buy in NJ. As most homeowners in the US will say today…”yeah, right…”. At the time we didn’t beliee him and we were very cautious about what we bought, what we paid for it,etc. Even still, a few years later when we wanted to relocate, we had to bring about $2,500 to the closing table to sell it. The next house we made a slight profit on when we sold it….then we moved to the Phoenix area. We bought before the prices ran way up. We bought smart. We didn’t overpay at the time….as a matter of fact, we got an excellent deal on the house. We actually did. And now….our home is worth maybe 60% of our current mortgage…..OUCH! and yeh, because of the situation I really meant to scream. It is so scary and upsetting. The whole development is in the same shoes we are, so if misery loves company we are definitely not lonesome. I say to myself, “why was it we wanted to be homeowners”? This is the American Dream? Whose dream?? Ah well…it was wacky to buy at all, as it turns out!
Believe Anyway 