…if you’re like me, you’re probably very worried about the state of the economy. Further (if you’re like me), you’re probably inundated with information saying the economy is on the upswing…and downswing. I get emails and see headlines every day that alternate from “FINANCIAL ARMAGEDDON IS UPON US!” to “Housing surging! Economy is improving!”
Who do we believe?
I propose: neither. Follow the advice highlighted in this article and plan according to your finances and expectations. Don’t overleverage yourself; buy what you can afford.
We bought the home we live in now with my military pension in mind. Our threshold had to be $XXXX. When the numbers came in initially at $XXX7, I considered walking away from the deal. That’s how committed I was to making sure we didn’t overleverage.