Reply #21: I remember when I was looking at condos

[CAcyclist]

back in '98 or '99 and I didn't end up buying - I'm still renting, by the way. My agent tried and tried to convince me to get an ARM but I absolutely refused, just as I absofuckinglutely refused to get involved in a bidding war. Well, that meant that the condos I could afford were crappy, so I didn't end up buying. And those same crappy condos are now 2 or 3 times as much and I still wouldn't buy one if I could afford to, which now I can't. We'll see when this market corrects if I made the right choice, but at least I don't have a millstone around my neck like these people do.

Some people are just so desperate to get in a house, they'll compromise especially when their agent makes it sound so reasonable. I do believe some of the blame has to go to the realtors and other people pushing these loans.