We bought our house right before the housing bubble burst. When we first started looking the mortgage and banks would allow us to take out a mortgage for up to $500,000. But I knew the crash was coming and ended up buying an $80,000 townhouse. Our bank and most mortgage companies did not want to work with us because we were buying well under our means. People also laughed at me (friends/coworkers) because I bought a cheap house, but after the crash some of them lost their houses and I ended up helping pay the mortgage for two close friends. Buying a house is a real big scam. My family and I just needed a place to live, sleep and hold some stuff, we don't need a status symbol.
We bought our house right before the housing bubble burst. When we first started looking the mortgage and banks would allow us to take out a mortgage for up to $500,000. But I knew the crash was coming and ended up buying an $80,000 townhouse. Our bank and most mortgage companies did not want to work with us because we were buying well under our means. People also laughed at me (friends/coworkers) because I bought a cheap house, but after the crash some of them lost their houses and I ended up helping pay the mortgage for two close friends. Buying a house is a real big scam. My family and I just needed a place to live, sleep and hold some stuff, we don't need a status symbol.