Land of Sidewalks
I guess what I'm saying is that I really would rather stick with living in some sort of town or small city. Really, I'd be perfectly happy staying where we are because I really like it here. Not only is my family here, but we genuinely like the town and I've met some really nice, neat people. If housing prices weren't so completely out of control, I think there's a very good chance that we would stay here. I know that Matt would like to be closer to the mountains, but at least we're not so far away that a day trip is out of the question.
Last week I saw a cute little house in an ok area of town (probably a 1300 sq. ft place with 3 bedrooms, about 15-20 yrs old, and a nice little yard) that had just gone on the market. Out of curiousity, I called the realtor and found out that it went on the market on Monday, and sold on Tuesday for 649K, with 24 offers. I didn't know if I should laugh or cry. At this point, I think all we could afford is a condo in a place like we're already living... but why should we pay almost twice as much for a mortgage as we are currently paying in rent to live in the same place? Yes, yes, I know mortgage deduction and all that... but I've run the numbers, and we are still saving massive amounts of money by renting.
Is it wrong to hope for a housing market crash? Or at least a nice slump? And I guess another important question would be... why does it feel so important to own a home anyways?