Dream House or Nightmare?

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  • Posted By: JTHILL @ 10/18/2007 1:13:42 PM

    Are we suppose to feel sorry for Roger Elliott and his family? No, I don't think so. With so many people strugging just to make ends meet and some less fortunate than that, this man and his wife could have put their money to better use than building a "Keep up with the JOnes" home. Perhaps he should have thought about building two less expensive homes and helping someone out by providing a lower rental home while still maintaining his investment for the future. Instead of spending everything on themselves. I cannot believe how greedy people are ... never satisfied ... always looking to make money on the next fool. Anyone that can afford to build a $750K house should not be crying or whinning about home prices dropping. Get real ... How embarssasing and shallow can one family get? Maybe all single parents with children who struggle every month to keep a roof over their heads ....should throw the "Elliots" a "whine and cheese" party!

    • Posted By: madashell @ 10/18/2007 1:41:00 PM

      kudos, this is the best comment on here!!!

  • Posted By: linedancer @ 10/18/2007 1:40:25 PM

    If you are an investor, then real estate is down right now in almost all markets but most people buy a home to enjoy and use. Your home is a hedge against inflation by preventing rental increases, a tax break for most people and a pleasure in their day to day lives. If investment is all you are looking at then buy a shack and invest the difference. Most people start with a modest down payment and build equity slowly. How many people that bought a house at 30 yrs old and live in it til retirement have to sell it for less than they paid for it? Enjoy your house (home) and use it until the market comes back.

  • Posted By: didisaythat @ 10/18/2007 1:40:12 PM

    The value will be in the land, he has over two acres. He can take comfort in his generatory next hurricane season as he watches all the poor saps on tv (some of which will probably be his neighbors) without electricity and a home. Enjoy that you have a nice place to live and a loving family to enjoy the home with.

  • Posted By: katie102006 @ 10/18/2007 1:31:14 PM

    This is a little short-minded and blown out of proportion. He has a wonderful house that he and family are seemingly thrilled with. Even all of his neighbors love it (it that really matters..??) and he just sounds like he's whining about it. They have equity and seem to be fine financially with the payment. Everyone knows you don't move into a primary residence looking for an investment -- especially a short term one. If you can't appreciate what you have, no matter how much or how little it is, you will never be happy. And apparently that's what this whole story is about -- some guy not being happy with all that he has.

    • Posted By: pokermama @ 10/18/2007 1:39:11 PM

      He should count his blessings instead of complaining of not being able to make money off of other people.

  • Posted By: neil0311 @ 10/18/2007 1:37:04 PM

    Gee martees, maybe a little jealousy on your part? Or maybe you just think everyone should live a meager living and give the excess to the government to be redistributed? Maybe to you there is "absolutely no reason" but if you have worked hard and can afford a nice big house with all the fixings, why is that so wrong? Keep the class warfare out of it please.

    The real intent of this piece was to show how no one can take for granted the continuing escalation in property values. The days when you could build a house and finance 100% and then sell it in 5 years and take a boat load of appreciated equity with you are probably gone for now.

  • Posted By: FancyR @ 10/18/2007 1:35:58 PM

    You took the words right out of my mouth, BobbyR454! It sounds to me like the Elliott's don't want a HOME to live in, just a House to make a profit off of!

  • Posted By: linedancer @ 10/18/2007 1:35:54 PM

    Enter Your Comment

  • Posted By: ghandi @ 10/18/2007 1:34:43 PM

    This is lame. Why so greedy? If the family likes the house then just enjoy it and invest in securities if you want appreciation. Double digit real estate growth is NEVER sustainable for the long term.

  • Posted By: madashell @ 10/18/2007 1:33:40 PM

    When they die, they won't be able to take it with them. They should be more concerned with who they can help other then who they can make some money off of.

  • Posted By: FancyR @ 10/18/2007 1:33:16 PM

    You took the words right out of my mouth, BobbyR454! It sounds to me that the Elliott's aren't looking for a Home to live in, just a house to make a profit from!

  • Posted By: aussielover @ 10/18/2007 1:32:09 PM

    And they thought this was the wisest way to invest $750k? You have to be kidding me. Hello! The stock market, 401k and IRAs would probably have been a better idea. And what about their children's future and saving for college? I guess this is a learning lesson for them. Hindsight is 20/20.

  • Posted By: nancysworld @ 10/18/2007 1:31:25 PM

    Enjoy your home! Yes, it's an investment, but so is a stock portfolio. You don't watch the DOW everyday and see that it's down and worry about selling your stock, so if you're not planning to sell your house, why worry over it. Tomorrow's another day. Who knows what the market will be like when you're readdy to sell?. Live in your house, enjoy those extras and the fact live has been good to you. I sell real estate, I know the ups and downs, but unless somebody's holding a gun to your head and saying "sell now" you're not losing money! Again, enjoy it! Make the kind of memories in it that it becomes "priceless".

  • Posted By: lunette33 @ 10/18/2007 1:30:58 PM

    Why can't a house be a home anymore? It feels like a disease, this always doing things with profit in mind.

  • Posted By: martees @ 10/18/2007 1:29:50 PM

    This tickles my funny bone. There is absolutely no reason to be building these monstrosities and McMansions. I hope the values continue to fall on these houses. Wake up to reality and the average American citizen.

  • Posted By: panama63 @ 10/18/2007 1:29:46 PM

    Gees, how short-sighted can they be. For stupid to think that the house they have only lived in a year has not gained in value. They will be laughing all the way to the bank in 10 years. As long as they can make the payments and are locking into a mortgage rate, life well and be happy. Some of us were not so lucky and had to sell due to adjustable mortgages and financial situations that changed. I had to pay out at closing. I still made 30% in 10 yrs from what I had originally purchased the home

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