Layout:
Home > Why I am a misanthrope

Why I am a misanthrope

September 24th, 2011 at 03:21 am

This week in Notices of Trustee Sale:

$706155.72 owing on a house that was bought for $774K in 2004 and is now worth $733000.

A house purchased in 1986 with a $65000 mortgage that is now facing foreclosure with a $300000 loan. If I foreclose with a half-million-dollar mortgage I never paid, one year after I was supposed to pay it off, I am either institutionalized with mental illness or I have a nasty drug habit.

I cannot be the only fossil who remembers when a house was a "money pit" and not a "piggy bank/credit card".

Is it only people who grew up in other countries with shorter boom-bust cycles who know real estate can go down when they're not actually in a down cycle? Or people with at least a passing knowledge of economics?

Someone at the Blonde & Balanced Blog (I used to be both, am now neither) stated that homeownership peace of mind was most likely when the 20/25 rule was followed: 20% downpayment on a property, and no more than 25% of your gross income as a monthly payment.

Put some more toward the HELOC and look! I have one of my goals completed! It is my hope to have at least one goal crossed off every two weeks: at my least ambitious I am sure I can afford Maybelline or one gallon distilled water.

3 Responses to “Why I am a misanthrope”

  1. My English Castle Says:
    1316835997

    Hooray for achievable goals. The goals that used to be posted on my fridge said: Weigh 135, EF at 35thousand, clean house, health club. I am continents away from all of these right now. I need babysteps.

  2. PauletteGoddard Says:
    1316836797

    My English Castle: I used to weigh 135, used to have EF @ 35K, never had a clean house. I used to think housewifedom would lead to clean house -- it's led me to the Internet, free DVDs from the library and 25 extra pounds.

  3. My English Castle Says:
    1316898792

    I've never had all three of those simultaneously --at least not with this husband or in the past 10 years. But I am an eternal optimist. Well, on most days. I am more than a sporadic optimist, mostly because I get paid next week.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]