Michael Rosenbaum in black leather

He's busy.

Sorry about that!

DX, thank you. You summed that up VERY nicely on the mortgage thing. That was what I was thinking (only didn't know how to say it). Cindy said it, too, only with more words and math.

I get that by paying interest, we're actually paying more than the house is worth, but if the house increases in value over that time (and ours is), that could even out what you actually paid for it in interest.

Add that to the tax breaks homeowners and I think it's the right thing to do. Even if I had the cash for a house, I'd still finance part of it and invest the cash I had in something that would pay a higher return.

What $650K buys in DC: [link]

What $650K buys 20 miles north of the city: [link]

This is why we don't have a house yet.

We always pay more than stuff is worth, don't we? I mean, if I buy a shirt at the Gap, there's a whole lot of money in there above parts and labour. In this case, the facilitator is the bank, and they make a profit. If the house's value to you doesn't include the interest, and therefore is less than the cost to you, don't buy it.

If you live out west, you can buy the fuselage of a scrapped airliner and make a house of that. Very cheap, except transporting the fuselage can be expensive, especially if you choose a 747.

My ex once got a great deal buying a house with a friend. The real estate agent he talked to started making loud and offensive slurs about "those God-damned fags" (ironically, the ex's co-signer was a straight platonic friend) to someone else in his office, not realizing that the phone line was still live. The ex had the presence of mind to switch on the record function of his answering machine, and got a very favorable lending rate in lieu of filing a lawsuit.

Timelies, Happy Earth Day, Happy Passover, and congrats to Nora and Tom, despite the scariness of handing over the big check.

That about covers it, right?

Oh, Happy Birthday Betsy.

My work here is done.

I could link to what is listed for 650K, but that isn't what it will sell for around here. A friend was just telling me that a house in her neighborhood was listed at 499K. The best offer was 613k with no contingencies and the sellers counteroffered 625k against that best offer. (For those in the Bay Area, this was in the Richmond Annex)

Happy birthday, Betsy!

$650K will get you a two bedroom condo in my neighbourhood.