Dream House or Nightmare?

Everytime I hear people complain about their unwise investments out of being greedy, it makes me sick. In late 90s everbody was a stock trader and eventually a lot of people lost their shirts. Then everybody became real estate investor / flipper and now they are losing (or not getting the return they falsely expected) their money. When do these people going to learn that anything that goes up double digits for year after year has to come back down. These type of investments are nothing but gambling and I have no simpathy for gamblers.

So I'm supposed to feel sorry for this person because he blew $750,000 on a house? He should be thrilled his wife had that kind of inheritance! Most people would kill to just have an extra few bucks to sink into their home! I've been living in my "investment home" for 15 years so far. I bought it at $125,000 and this year it's value went to $375,000. Unfortunately, housing has skyrocketed so much in my area, that I can't afford to move into my dream home because I'd be paying at least $750,000 for a house someone else built!! So at this rate, I'll be 70 before I can afford my dream home -- if ever!. Real estate may have bottomed out, but it went so high first in my area that the average person can't afford a big home. If this person was looking for an investment, he should've bought a fixer-upper in a modest neighborhood and turned it around. Be happy with what you have and even happier that you have more than most!

I recommend to relax, enjoy this fantastic house for the next 25 years, I am sure eventualy you get everything back and more in spades

if your going to live in a house....why whould you even worry about wanting to sell it.
Especially if it is in that good of shape. They are just being greedy and are mad because they cant brag about how much their house is worth.
They need to see how much they have and not wish that they could get even more.
Who would even worry about selling a house if you already spent over 750,000 dollers on building it!! they just need to be happy that they have some where to live...i hate people like this...ones that are so greedy that they cant even notice whats right in front of their face.

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I'm not even sure why this article was printed, other than to further hype the housing downturn. The fact of the matter is that this homeowner will recoup his losses in the long term. Of course, if he sells now he will lose. I'm surprised Newsweek feels this story is newsworthy. It just about bored me to sleep. Newsweek knows that any negative headline about the housing market is going to generate mouse clicks or sell magazines. Because everone that owns a home or is thinking of buying one is emotionally and financially tied to these stories. Especially the people that are in danger of foreclosure and Bankruptcy, I don't see why Roger or Newsweek need to tell this story.
Newsweek and the rest of the media (MSN included) have been riding this gravy train for almost 3 years now. When they started with housing bubble stories 3 years ago anybody with common sense knew that skyrocketing house appreciation would eventually experience a correction. Now, there is blood on the streets and panic in the markets. Newsweek and MSN are no longer on the sidelines reporting, they are exascerbating the situation and have played a material role in this mess, this article is case and point. Shame on Newsweek and shame on MSN for throwing gas on the fire.

BOO HOO HOO! yOU ARE ALIVE AND WELL AND HAVE YOUR DREAM HOUSE. wHAT THE HELL ARE YOU CVOMPLAINING ABOUT? THERE ARE A LOT OF PEOPLE WHO DO NOT HAVE A HOUSE OF ANY KIND MUCH LESS ABLE TO PROVIDE FOOD ON THE TABLE. i CANNOT FATHOM SPENDING THAT MUCH MONEY ON A HOUSE. i WOULD RATHER INVEST IN THE STOCK MARKET OR PUT IT TOWARDS MY REATIREMENT ETC... WHEN YOU INVEST IN ANYTHING,ANYTHING YOU TAKE THE RISKS OF THE VALUE GOING UP AND DOWN EVERY SINGLE DAY!!!!!! bE GLAD YOU ARE ALIVE, WELL AND ABLE TO AFFORD SUCH A WONDERFUL HOME. yOU OVISOUSLY HAVE A WHOLE LOT OF GROWING UP TO DO AS WELL AS EDUCATING YOURSELF IN YOUR INVESTMENT.

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Let's face it folks..Real Estate has always been a game for people trying to make a quick and easy buck. From the "no money down" days in the 80's to the "house flip" craze and McMansionizing of America since Y2k, people always seem to think there's a bigger fool waiting to pay more for real estate, so it can't possibly loose money. People in California, Florida, and more than a few metro area locations will learn this lesson the hard way. Some of the posts below have it right on. A house should be looked at as a home, not an investment. You buy what you can afford and don't worry about making money....that way if the "market" takes a downturn, at least you have a roof over your head...if it's an investment and goes bust....where do you live? In this case, Roger appears to be well off equity wise and can wait out any short term downturn, so this isn't a sad story. Sad is when people buy beyond their means, bet the farm on a pipedream....and lose it all.

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I fail to see the problem here. These people spend three quarters of a million dollars on THEIR dream house and then whine about the fact that all their personal upgrades aren't holding their value? You're making your mortgage payment in your personally designed house that is your dream. Quit whining and be happy that you are able to hold on to your dream house while thousands of people are losing their houses that they didn't build from the ground up. Why would you want to sell your dream house anyway? If you were worried about resale value, you should have taken into account all your special upgrades.

here, here - totally agree jmp3206 - I, too pay for those sorry, jeoulous dead beats...no sympathy!

Having built and lived in FL since 2003 we saw tremendous value increases (on paper) of our home in Western orange county. But those have been erased and we're only saddened that, if we had to sell, we would not walk away with the windfall profits that 35% appreciation in a year brings. But then we take a realistic view and say "35% a year is a "house of cards" one that will surely be blown away...and blown away it has been. A correction is in order, unfortunatley, if you have to sell you are in trouble. Too many speculators rushing in ruined a great market. It will come back BUT in moderation I hope

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I know where I live all they build is huge homes ...and avg. rent is 1200 a m. I bought a small home that I love after the boom. Its important to live a simple life where you are not a slave to your possessions.

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Boo Hoo...Boy do I feel sorry for you.