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Hoe do you like living in Reno Roberto? Can you describe why move there from Bay Area?
anon_0128c saysHoe do you like living in Reno Roberto? Can you describe why move there from Bay Area?
He didn't move there from Bay Area.
Lol, a fair comparison would point out that leverage works both ways. Houses may not go to zero (except in Detroit) but your equity can easily go to zero, and then keep on digging a hole you may never be able to climb out of. Stocks don't do that. If they go to zero, that's the end of the damage. (Unless you buy on margin, generally a bad idea.)
Then what was gained by refinancing and eliminating PMI if you're going to add more costs and a higher rate?
If you only put down 3.5% originally on the FHA, it's going to take a lot more than a few years to get below 80% LTV.
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This is a great article that uses the Case-Shiller housing price index to compare home affordability today to the bubble ten years ago. This is eye opening!!