Letters to the Editor
This letter is associated with the following article:
-
Why would you do that?
Can you imagine selling your house for tens of thousands of dollars less than you owe on your mortgage?
Smart choices in home ownership generally mean that this won't happen. While the cycles are slower, the same rules apply to buying homes as to buying stocks - if the investment was well thought out, yes there will be ups and downs, but if you hang on in the bad times, good times will come again.
Buy a home you can afford, and you can make the payments on it even if its value goes down. Buy a home that can be easily rented and you've got yourself covered if you have to move during a down cycle.