If you’re listening to the news, you will notice a pattern of fear-driven, baseless crap and skewed data, because, let’s face it, nobody buys newspapers or tunes in at 6:00 to hear about another day of sunshine and rainbows. If you’ve been fearful of getting into the housing market because of “the bubble,” you’ve have been missing out in a big way. In fact, in those last six years, you’ve missed and average of $208,000 in appreciation alone. In some areas, you’ve missed a whole lot more than that.
Not to be like the nightly news, but the number is actually so much worse. If you’ve paid just $1,800 a month in rent in those six years, you’ve lost an additional $129,600. In addition, you lost the principal you would have paid down on your loan, which is tens of thousands more as well as any tax savings you may have had and on top of that you’re now paying $200,000+ more for the same house. That’s over 1/2 million dollars in a few short years. Let’s fix this; it’s time to stop sitting on the sidelines.
