Peachie, I agree
Peachie, you took the words right out of my mouth. We've all been through this and it is choices. In 1979 I couldn't sell my condo at all, no matter what price I listed it at, so, our "choice" was to rent it at a price that would just cover the mortgage (maybe even losing a little money) and we rented a one bedroom apartment for ourselves. We put ALL our furniture in storage and lived in a 500 sq ft apt. - 1 bdrm. 1 bath and left a 2000 sq ft condo for the renters. It was very easy to rent as it was in a desirable location and obviously desirable rental unit. This is a choice we made given the poor economy and real estate market in that year. We then saved our money for a year and until we felt we had adequate financial resources, we purchased a very small free-standing condo (home) with 2 bdrms and 2 baths and lived there modestly until again we we able to regain some equity and financial resources. This took about 4 years which was well worth it and established a strong financial situation for us. Then we were able to buy a large ranch home and lived comfortably for 17 years. None of this happens over night and unfortunately I think young people want things quickly and all at one.
Oh, and BTW, during that time frame 2 of my companies had closed down and I was looking for employment, the same thing happened to my husband. It wasn't easy, but we sure learned a lot from that experience.
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