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Upside down and house
should never, ever be used in the same sentence. Absolutely scary.
posted by
SuccessWarrior
on June 25, 2007 at 5:30 PM
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Okay, first of all....
UPSIDE DOWN on a HOUSE! OMG! I can't imagine the pain! On a car is bad enough! Crikey!
Second: do you KNOW how much houses and cars have gone up these days? My house was built in 1954, and the woman next door told me that her husband, who was one of the builders of this street of identical 1100 s.f. houses, bought theirs for $10,000. My neighbour on the other side said that they bought theirs about ten years later, and it was $19,000. We bought ours in 1997 for $60,000. The insurance company tells me that it is now (after I updated the bath and kitchen) worth $110,000!!!! I can't figure the change in the rate of appreciation, but I know there's a big difference beween 10K to 19K in 10 years, and 60K to 100K in 10 years.
And cars are just as bad! Used to, you could get a new car for well under $10K. Nowadays, it's hard to find USED cars under $10K. A new car? Fuhgeddaboutit.
And finally, I know you wrote about piggybacking to improve your credit score recently. According to this article (http://articles.moneycentral.msn.com/Banking/YourCreditRating/CanYouPiggybackOnACreditScore.aspx) that's going to go away soon. Apparently, there's a problem with abusing the system. Ya THINK?
posted by
editormum
on June 25, 2007 at 3:12 PM
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