In this morning’s Los Angeles Times is an article by Ann Brenoff entitled Realtor blogs help reel in clients, boost sales. Brenoff reported:
And then there is Housing Doom — written from Austin, Texas, by Debi Averett, who sold her Phoenix-area home "in 15 minutes" when she thought her husband had a job out of state. The job offer fell through just days before escrow closed, and the buyer held the couple to the contract. Averett and her family wound up renting and, given the rapid escalation of housing prices in the area, couldn’t afford to buy again.
I sent Ms. Brenoff the following response:
I saw your article today, and I must tell you, I am disappointed. After having the Washington Post report last December that I was "priced out of the market", I was very clear to you that I did not purchase a home in 2006 BECAUSE IT DID NOT MAKE FINANCIAL SENSE, not because I couldn’t afford it.
I weary of the media trying to portray me as the most pathetic financial figure in the nation. Somehow when even the unemployed and the underemployed were using liar and subprime loans to purchase millions of dollars in real estate, it keeps being reported that I "couldn’t afford to buy."I could make more money doing something else, but I do what I do to educate people- to encourage them to base their buying decisions on what makes economic sense for them, not on the feeling that the must "buy now or be priced out forever" or "fulfil the American Dream".
A lot of the folks that are in foreclosure are there because of the "you must buy a house if you can, no matter what the cost" attitude. I am disappointed that contrary to what you were told, you have made me appear to be one of those people.
You have it wrong. I RENT ON PURPOSE- AND I’M PROUD OF IT.
