My wife and I have worked hard saving for a house, a home of our own, where we can have the freedoms to live as we choose. She has stayed by my side through multiple overseas military deployments and accepted the financial discipline needed to accumulate a large down payment for a nice slice of suburbia. The shit we went through to earn this large sum of money makes me question many aspects of life and myself.
While friends of ours took on car loans, we kept the cars we paid off less than two years after their purchase. They took out second mortgages to pay for new swimming pools and landscaping. Boats, jet skis, plasmas in every room? Sure, why not. Another friend had an interest only loan, telling me that “…home prices can only go up!”
Not us. We saved. There are many things we chose not to indulge so we could keep the money instead. No children, pets, cable television, iPhone. Acccoding to my parents, Kiplinger’s, and USAA my wife and I are doing it The Right Way.
Many of those same friends are in a self created world of stress and pain right now while we are finally ready to purchase our house. They want US taxpayers to rescue them from their own greed and stupidity, which will unfortunately probably happen.
Meanwhile, we met with a nice realtor that USAA set us up with. He set up a client access through listingbook.com and told us how to use it. My wife and I set our search criteria and came up with a list of 295 homes for sale. Of those, about 270 are short sales. Both the homes we recently visited were short sales.
I almost feel like I had it all wrong, that years ago we should have purchased a house with zero down, 105% financed like so many others.
Pit worthy topic? I don’t know.
But fuck this whole real estate boondoggle and it’s future implications, fuck irresponsible home buyers who took on unrealistic debts levels, and fuck the short sale process that we will likely have to deal with.