Quote:
Originally Posted by Humdizzle
i don't get the house equity thing...
sure it goes up for you, but if you're planning on staying in the same area and keep the same job, then houses have gone up for everyone. So its a wash. And the market cycles: it may go up for a few years and then it'll come down. I don't know too many people who said 'oh look the equity is up, lets sell and move somewhere else and use that profit for a supercar!
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Not true in Illinois!!! I've lost more money on my home than you can imagine! Let's just say I could have owned over 50 M3s in the last 10 years for the same amount of money I've lost on just one home. And what an F'ing awesome time I would have had owing all those cars! But I do have an awesome fleet now and have no complaints.
So that home appreciation thing is very geographic.