Yeah exactly, as long as it's done responsibly. What we did was not responsible, because we were going to downsize and then we ended up buying something almost as expensive but with a higher interest rate and the same amount of financing we had before. So it was pretty stupid. And yeah I hope you're right that we do have a second chance to get out. We didn't buy it at the top or anything like that, because we bought in the third quarter, but hopefully we don't have to take a big haircut.
I think you're right. The only thing that concerns me is the time on the market is pretty long because of what they are mentioning (and what you're mentioning - people staying in 3% loans) in this video (12 minutes in so far), and some construction projects that seemed like they were on hold indefinitely around here have all just picked up full steam, bulldozers and everything, makes me think they were about to go full steam into home production before end of summer and then we are going to see a huge pile of inventory come on the market right as it's crashing, I hope we can sell quick enough. I wish we would have listed it in June, but we weren't really there, emotionally, yet. Moving across the country and selling/buying, it's like a midlife crisis level of chaos in our lives in the past year, but getting back to op ex while the market is in flux will feel good, especially because we will have the extra money in the bank, which acts as a nice cushion and possibly a future home if the price is really tank.
Yeah exactly, as long as it's done responsibly. What we did was not responsible, because we were going to downsize and then we ended up buying something almost as expensive but with a higher interest rate and the same amount of financing we had before. So it was pretty stupid. And yeah I hope you're right that we do have a second chance to get out. We didn't buy it at the top or anything like that, because we bought in the third quarter, but hopefully we don't have to take a big haircut.
I think you're right. The only thing that concerns me is the time on the market is pretty long because of what they are mentioning (and what you're mentioning - people staying in 3% loans) in this video (12 minutes in so far), and some construction projects that seemed like they were on hold indefinitely around here have all just picked up full steam, bulldozers and everything, makes me think they were about to go full steam into home production before end of summer and then we are going to see a huge pile of inventory come on the market right as it's crashing, I hope we can sell quick enough. I wish we would have listed it in June, but we weren't really there, emotionally, yet. Moving across the country and selling/buying, it's like a midlife crisis level of chaos in our lives in the past year, but getting back to op ex while the market is in flux will feel good, especially because we will have the extra money in the bank, which acts as a nice cushion and possibly a future home if the price is really tank.