Keywords: housing bubble, home mortgage, home loan, Denver
Interesting article on the Denver real estate market at The Housing Bubble Blog; unless, you know, you don’t live in Denver.
But if you do… and own a home… or want to buy one… or sell one: have a look. The news isn’t so cheery, especially if you took out a “crazy person loan.”
When I say “crazy person loan,” I’m talking those no-interest-this, no-down-payment-that, and ARM yourself, because you’re gonna be mighty pissed when that interest rate adjusts to something in the stratosphere.
I’m a fan of the 30-year fixed loan, as you can guess (unless you can swing payments on a 15-year loan, in which case, knock yourself out).
My neighborhood has been pretty flat for the last year, with our house staying steady in the $270K range (which is probably unrealistic considering we have two kids, two dogs, two cats, and what used to be good carpet and a nice hardwood floor in the kitchen… but then we did put in landscaping and a patio… so, in short, what I am saying is “I have no clue what it’s worth but I err on the high side to make me feel good.”)
Regardless, it’s big enough for us now and I’ve grown accustomed to my 30 mile commute across downtown Denver each morning, and – well – it’s home. Until I become stinking rich and then it’s just a ghetto, yo.
* As always, extra-super-special bonus points for naming the source of the title.