Comments on: The Pressure of Rising Housing Costs http://www.moneycrashers.com/is-it-any-wonder-why-so-many-people-are-feeling-the-pressure-of-their-rising-housing-costs/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 13:38:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jacquelyn Hart-McCoyhttp://www.moneycrashers.com/is-it-any-wonder-why-so-many-people-are-feeling-the-pressure-of-their-rising-housing-costs/#comment-4812 Jacquelyn Hart-McCoy Fri, 06 Apr 2007 14:42:07 +0000 http://moneycrashers.com/?p=100#comment-4812 Thanks Erik. I just wanted to get another opinion from someone I trust. It seems to help to get many points of view. Thanks. <a href="http://proessays.com/">Jacquelyn Hart-McCoy</a> Thanks Erik. I just wanted to get another opinion from someone I trust. It seems to help to get many points of view. Thanks.
Jacquelyn Hart-McCoy

]]> By: erik.folgatehttp://www.moneycrashers.com/is-it-any-wonder-why-so-many-people-are-feeling-the-pressure-of-their-rising-housing-costs/#comment-4810 erik.folgate Fri, 06 Apr 2007 02:32:16 +0000 http://moneycrashers.com/?p=100#comment-4810 Hey Jacque, That's a very good question! First off, you guys are investing fiends for your age! You're doing really well, and I congratulate you for that. You guys are gonna have so much stinkin' money when you're 60, you won't even believe it! This is obviously a decision that you and Shawn ultimately need to make. I would say that since you guys are young, you can tone down the investing a little bit to keep your goal of getting a 50% down payment. Honestly, I would NEVER discourage someone from attaining a goal of gaining a down payment like that. Think of it this way, if you spend the next 3 years getting a fat down payment, but you sacrifice investing it in retirement funds, you can always catch up later when you have a MUCH smaller mortgage payment than most of your peers do! I would say, go for the big down payment! You sound diligent about investing, and most of it is a mental thing, so you'll catch up EASILY. It's those of us who have a hard time saving for retirement that might not benefit from waiting until we're 35 to start investing in IRAs. Good Luck, and let me know how it goes! Hey Jacque,

That’s a very good question! First off, you guys are investing fiends for your age! You’re doing really well, and I congratulate you for that. You guys are gonna have so much stinkin’ money when you’re 60, you won’t even believe it!

This is obviously a decision that you and Shawn ultimately need to make. I would say that since you guys are young, you can tone down the investing a little bit to keep your goal of getting a 50% down payment. Honestly, I would NEVER discourage someone from attaining a goal of gaining a down payment like that. Think of it this way, if you spend the next 3 years getting a fat down payment, but you sacrifice investing it in retirement funds, you can always catch up later when you have a MUCH smaller mortgage payment than most of your peers do!

I would say, go for the big down payment! You sound diligent about investing, and most of it is a mental thing, so you’ll catch up EASILY. It’s those of us who have a hard time saving for retirement that might not benefit from waiting until we’re 35 to start investing in IRAs.

Good Luck, and let me know how it goes!

]]> By: Jacquelyn Hart-McCoyhttp://www.moneycrashers.com/is-it-any-wonder-why-so-many-people-are-feeling-the-pressure-of-their-rising-housing-costs/#comment-4788 Jacquelyn Hart-McCoy Thu, 29 Mar 2007 15:16:23 +0000 http://moneycrashers.com/?p=100#comment-4788 I feel blessed to have bought my place in 2003 when things weren't so crazy, however Shawn and I are really wanting to purchase a new house before we start having children in the next couple years. With the housing market so crazy and unpredictable right now, we worry about what a new home will cost and what we will be able to sell our town home for. My plan was to try and save a 50% down payment for our next home so our payments can stay reasonable. I am aggressively saving toward that goal now. Some people have said this is wise and others have said it is foolish...I am just curious what you think? I am still investing in my retirement funds as I aggressively save all other money in a 5.23% yielding savings account. Shawn and I are still maxing out our IRA's and I am still contributing 10% to my 401k (Shawn has a pension plan.) Some say I shouldn't be wasting my time with trying to save this huge down payment and I should be investing that money instead. What do you think? Without the down payment, we will not be able to move for over 10 years! I feel blessed to have bought my place in 2003 when things weren’t so crazy, however Shawn and I are really wanting to purchase a new house before we start having children in the next couple years. With the housing market so crazy and unpredictable right now, we worry about what a new home will cost and what we will be able to sell our town home for. My plan was to try and save a 50% down payment for our next home so our payments can stay reasonable. I am aggressively saving toward that goal now. Some people have said this is wise and others have said it is foolish…I am just curious what you think? I am still investing in my retirement funds as I aggressively save all other money in a 5.23% yielding savings account. Shawn and I are still maxing out our IRA’s and I am still contributing 10% to my 401k (Shawn has a pension plan.) Some say I shouldn’t be wasting my time with trying to save this huge down payment and I should be investing that money instead. What do you think? Without the down payment, we will not be able to move for over 10 years!

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