Reply #387: *sigh* build equity. Yeah, that's what we thought. [View All]

[Pacifist Patriot]

We bought before the boom in our neighborhood and our house is now maybe worth about what we owe on it. We put 30% down and have been paying on the mortgage for 1/3 the term of the loan. Build equity? I wish!

Fortunately we're not going anywhere in the foreseeable future so we can hopefully ride it out. Still leaves me a bit miffed at the people in my neighborhood who tossed the keys over their shoulders. Two on my street. Not foreclosures. Walkaways. And we're left with no equity and have to watch the prairie grass grow in their lawns.

I'm not without sympathy, but it can't hurt to acknowledge our personal decisions affect a lot more people than we generally assume. For those who feel they have no choice...well, that's life I suppose. Not many people are complete selfish bastards or total altruists. It's usually far more complex than that.