Dream House or Nightmare?

I find it very difficult to feel sorry for these people. After I retired from the US Army with 20+ years of service, we bought a house in Virginia Beach, VA in 2005 and we paid too much for it. We have moved to Tampa, Florida when I was offered a job here. Now we are stuck with paying the mortgage on the house in Va while we pay the rent here, all because we wanted to be closer to our extended family in Miami. Now our house will not sell, so we will have to rent it out at a much lower price than our mortgage and have to bite the bullet until we can sell it, which may take some years...why are you folks so worried about the value of your home if you are already living in your dream house? Suck it up and enjoy your new home, and realize that you are lucky to be home already. I'm not feeling any sympathy toward you, and don't feel sorry for yourselves either, you poor rich people!

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Let's just see how this thing works.
The contractor make $100.00 plus a square ft..
The Realtor makes 7% on the price of the home.
Now if i see things correctly !! Only one of these professionals are really trying to help the American people.
Didn't anyone take notice of the Contractors and Real estate people becoming mortgage brokers. Could the answer be Greed... There is nothing wrong with Roger having his dream home as long as he doesn't sale it to someone for morer than it's valued at Stop blaming the mortgage brokers for the fall, blame the people to whom shouldn't have been getting any money... for a service that we really don't need ..
The Mortgage Broker can only make up to 5% (but always get blamed)

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If you are interested in selling, then hang on to it, and eventually, down the road, as history has proven, the market will change; but can you wait for it?

It is really hard to feel sorry for these people when they have enough money to pay their mortgage, buy their food and live their nice upper-middle class life. Buyer beware. House prices are cyclical historically. If they can get over their worry, which I believe is based on their current personal greed, they will realize their money when the cycle comes back around (even if it isn't tomorrow or next year). They should be thankful for the good things they have and not whine that they are not getting an instant mega-profit.

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Nightmare? Isn't that overstating the situation? This article is better suited to Money or Fortune rather than NewsWeek. Maybe you'll find a more sympathetic audience there. You have a beautiful home that you can afford. Spare me the angst. My house is 1500 squre feet and 30 years old. We bought what we could afford and it's home to us. Is the purpose for this house to be a trophy of some type?

Well Roger you are very lucky to be able to afford your mortgage, especially when many good people are losing there homes because of major price gouging by big companies and greedy banking. Yes housing is falling and that is because people can not afford to feed there children and put a roof over there head. It is sad that you took an inheritance and put into a home that it sounds like you thought you would make a million plus on. This is life and there are ups and downs, be thankfull every day that you have a good job, wife who supports you and helped with her family money to put you in this pricey house and your health. I personally do not feel sorry for you and your choices. Maybe take some of that money you have and help some of the people with families to have a home of there own...that is the american way is it not.

The real estate boom made my conservative land owning family rich, but for many years we STRUGGLED. When we saw the insane boom we watched people get into the game that hadn't lived through the meager years like we had and feared for them. What goes up must come down and if you can avoid bankruptcy, divorce, etc. which we barely did for decades the down market will come up. BTW, a home isn't a good investment cause even in the boom you still had to buy another one so if you didn't own multiple homes or move to Mexico with your loot, you just had to pay the increased prices over again.

Roger is lucky to be able to build a home with so many extras, he may lose money on his investment, but he is young enough to live long enough to see his investment grow. Realtors, bankers, and investment companies helped to over inflate prices to where the ordinary hard working person could not afford payments to keep there homes. Loans were given to people all these investment companies approved knowing they could not afford the payments. Now we have far to many foreclosures and do they care what happens to these people. I think not, so Roger count YOUR blessings you at least can afford your home, and you can maintain it, while many are homeless and have lost everything they have. Be thankfull for what you have and that you are in good health, life is a roll a coaster ride and what will be will be.

That is what is wrong with the US today. We always want more. No one is happy to just have a healthy family and friends. All of these extremly wealthy people could do so much more with there money to help the struggles of children, homeless, etc. instead of spending 750,000 dollars on a house. Anyone heard of the word greed ?

I'm a single parent in her 50's, working 3 jogs and college fulltime. I'd love to not worry about a mortgage payment, oops, I forgot, I have e 79 douglewide., at least we have a rood over our heads, bed to sleep in, and a table to eat upon

I'I'm ag single parent

Maybe if you hired a maid and a pool boy you would be happier! Come on, why do you care what the market is doing when you live in a house that you intend to live in for a long time? Take the ride like the rest of us. Get 'er done!!!

Maybe if you added a maid and a pool boy you would be happier! Why do you worry so much about the market when you already live in a house you plan on living in for a long time....take the ride like everybody else! Get 'er done!!!

I am not sure if the Elliotts are braging or compleining here but I would like to take this opportunity to recognize Mr. Daniel McGinn for his obiously superior journalistic skills in uncovering this rare and heartbreaking story. Way-To-Go Sherlock.