Dream House or Nightmare?

To me, a "dream home" is not something everyone has. However, in this day and age, everyone has their "dream home" because of creative financing and need to keep up with the Joneses, the Smiths, the Browns, the Garcias, the Wongs, and the Singhs. Due to this excessive spending and rocket-fueled housing prices, my husband and I are unable to buy even a modest house. Even a modest house here in CA is selling at a quarter million ($250K) for a fixer-upper. Also, everyone thinking they have to have at least 3,000 sq. ft. instead of a modest 1,500 like most of our parents raised us in. I'd love to have a dream house, but by the time I can afford one, I'll be close to retirement and wanting something smaller.

I agree with summermac too. They had to know that there was a chance that they would be in this house for the long haul. At this point they should not be in a rush to sell it, and if they absolutely MUST sell it, then they need to do it without enlisting professional help. Many people sell their houses themselves today. There is even a website that is tailor made for just that and they only charge $1. I also believe it just launched recently so it is free for the time being. www.anythingforsalebyowner.com if anyone is intersted.

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Sit tight on your investment. 5 years from now, you will get $1M plus...

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Unfortunately the Elliots were clueless when looking at their home as an investment. Adding the most high-tech and pricey rennovations don't mean the value of the house will proportionately increase in the eyes of the buyer. When it comes to add-ons it's all about return of investment, i.e. put in as little money as possible in hopes for the greatest return in value. Now they're stuck with a pricey home that can't perform and on top of all of that they're hit with a depreciating market...double whamey. I say they should sit tight, enjoy your house as your home, ride out the storm and hope for the best when the market starts to pickup in coming future. Oh and stop the rennovations!

I hope the subjects read and realize how childish and greedy they are! As for Newsweek - well - just goes to show you how polished and professional today's writers are/aren't. Pathetic. I am surprised I bothered to even comment, but after reading most oif them, I had to add my name to the overwhleming majority here.

So let me get this straight. They built a house they can afford to stay in, with all the features they wanted in it, and now they're whining because MAYBE in 5-10 years they won't get their money back? Get some perspective, bozos!

I have little sympathy for the Elliots. They used their home the same way others invest in the stock market.
Everyone knew that the real estate boom was a gample- Mr. Elliot even admitted himself in the article that it was "a game". They lost the game. It happens. Pull up your big boy pants and get on with your life. If you are going to play the game, you have to be willing to accept the risk. Sometimes you win, sometimes you lose.

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Well, there is nothing quite like being ungrateful. This is not a news story by any stretch of the imagination - unless self-centered people are Newsweek's target audience. The man and his family live in a beautiful home with no financial worries - yet he is upset that maybe the financial reward of owning the house is iffy?

There are so many things in life for which no gauranties are attached, the recent years housing market was an abberation. The music has stopped and now people need to learn to love what they have.

Hello Roger, the world revolves around more than the possible equity in your showcase house.

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