Quote:
Originally Posted by KSigkid
It's interesting to live in parts of the country that haven't been affected quite so negatively. I know in my area of CT home prices have fallen, but not to any great degree. That's a good thing of course (especially for people like my wife and I who didn't buy at the best time), but at the same time I still hear people talking like your co-worker, like they're blissfully unaware of other people's mistakes.
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I guess apartment prices in NYC have fallen a little bit, but most are still out of reach for the average person. I guess with co-ops and condos, you have to put down at least 20%, and the co-op board goes over your finances with a fine tooth comb, so it's next to impossible to be approved for a co-op but to lose the place. There are foreclosures here, but virtually all of them are single family homes or condos with less stringent borrowing guidelines.
Even where my parents live in North Florida, the foreclosure mess hasn't been what it's been down south. Of the two communities that were affected the most by foreclosures, one is a gated community where people bought more than they could afford, the other is a bedroom community about an hour's drive from town where subdivisions sprouted up quickly.
My co-worker is a total idiot. I need to start a blog where I post the crap he says. He can't believe that I'm a single female who makes perfectly good money and can go on trips and live on my own--my parents HAVE to be subsidizing my lifestyle. He asked me once if my parents were "affluential." I'll be 28 in six weeks. Does it even matter?