Re: About to buy a house
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Yeah...nice "equity". We're moving into an apartment for $730/mo. right now which means we're paying $220/mo. less (of which will go to our future equity, as we are saving right now).
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-You'll only save $13,200 in 5 years
-Historically 7% ain't a bad mortgage rate
-4% annual increase in your housing market means a $155,000 house will be worth >$181,000, or more than $26,000 in equity
Or the housing market could take a dive, the girl could dump you, and you could work 3 jobs trying to stay out of bankruptcy. [img]/images/graemlins/smile.gif[/img]
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