Liar Loan
Well-known member
It's time we at TI started using our collective wisdom and knowledge to advise the unfortunate victims of the most recent housing bubble. And conversely, we should use our knowledge to help first time buyers looking for when they should jump into the market in a way that helps them avoid similar losses. So this thread will serve as an advice column of sorts to help others who are reading but may be too shy or embarrassed to speak up.
This week's question comes via MarketWatch:
www.marketwatch.com
After coming back from vacation, we didn’t end up relocating to the new house, because I wasn’t sure that I would be able to go that far from my job’s location and from our current friend circle. We decided to continue our stay at the condo we bought in 2016, and we rented our the house we bought this year (monthly mortgage is $4,450 inclusive of everything, however we’re only getting $3,250 in rent). I feel like I made a very bad financial decision and am doubting my skills to manage finances/investments effectively. What should we do?
OK TI it's your turn! How would you advise these unfortunate victims of FOMO to handle a peak bubble purchase which they have no intention of occupying?
This week's question comes via MarketWatch:
My wife and I live ‘an average life’ in the Bay Area making $320K. Last year, we bought a house for $200K over asking — now we don’t want to live in it. Should we get professional help?
Have an issue with your financial adviser or looking for a new one? Email picks@marketwatch.com.

My wife and I live ‘an average life’ in the Bay Area making $320K. Last year, we bought a house for $200K over asking — now we don’t want to live in it. Should we get professional help?
Question: I was a victim of FOMO during the housing market craziness and bought a house for $200,000 over the asking price. Now house prices are coming back to reality, and I feel like I lost my hard-earned money. I don’t know what to do as I am living with constant stress thinking that I made a big financial mistake, and I’m not sure if I should consult a financing adviser for better decision-making and long-term investment planning.After coming back from vacation, we didn’t end up relocating to the new house, because I wasn’t sure that I would be able to go that far from my job’s location and from our current friend circle. We decided to continue our stay at the condo we bought in 2016, and we rented our the house we bought this year (monthly mortgage is $4,450 inclusive of everything, however we’re only getting $3,250 in rent). I feel like I made a very bad financial decision and am doubting my skills to manage finances/investments effectively. What should we do?
OK TI it's your turn! How would you advise these unfortunate victims of FOMO to handle a peak bubble purchase which they have no intention of occupying?