Four years ago, her girlfriend's brother bought a house in Santa Clara. When she found out and came home to tell me about it, I could see tears welling up in her eyes she was so mad. To paraphrase her, here was somebody who couldn't even speak English, achieving the American dream and here she was married to someone who's been in America for over 35 years and speaks perfect English but still don't own a house. I think she felt lowered, it really got under her skin. Maybe she felt inferior, a second class citizen. She's been obsessed with buying a house ever since that day.
This same girlfriend of hers just recently bought a house in SF. When she found out, she vowed we are going buy a house before the start of summer or we're splitsville.
She has made up her mind that come hell or high water she's going to buy a house right now because all the realtors that she has talked to are all saying "This is a great time to buy". Have you ever heard a realtor tell you it's a bad time to buy, don't buy now? Heck no. That's how they make their money, when you buy a house. They always say it's a good time to buy.
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Did you tell her that her girlfriend is probably going to file for bankruptcy pretty soon if the price of her house keeping falling?
ReplyDeleteBuying a house just to keep up with the Jones is never a solution. Not to mention is down right dangerous. Michael and Ivy are quite well off and they don't own a house yet. So it is nothing to be ashame about. Unfortunately Jenny probably does not feel good about herself, so somehow this manifests into the current situation. It is too bad.
Let us know if we can help.....
Ok. I am a Realtor. And I really wish the NAR would stop saying "It's a great time to buy" every 3 minutes! Whether or not it really is a great time to buy depends on a lot of things including your financial condition, the odds of your needing to relocate in the next 2 years, and local market conditions. Since I don't know you, I have no way of knowing the first two, and since I live/work in Vegas, I don't know your local market. Around here there are some good deals to be had, but that doesn't help you.
ReplyDeleteGood luck finding a voice of reason. I've seen people get house-fever for decades now, beginning when I was an apartment dwelling kid and interest rates were well into double digits.
@Bridget,
ReplyDeleteThanks for your support. Bet you never seen house fever of this magnitude.