Posted by jdemaris on March 01, 2008 at 17:30:03 from (67.142.130.12):
In Reply to: Re: Real estate. posted by Spook on March 01, 2008 at 16:57:05:
Yes, I understand that, but am not overly sympathetic. I've never had a job in my life that I felt totally secure in. For that reason, I wouldn't buy a house based on my one job and income from it, if my skills were not marketable at other places in the area. I know several people who are not skilled, but were employed making well over $1000 a week, and then bought the biggest home their paycheck could get with monthly payments. They knew they were not employable for that rate of pay anywhere else in the area, but overbought anyway.
From what I've seen in many of the foreclosures, people buy beyond their means with homes, and other things - and often expect to get bailed out if things go sour.
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