https://www.nytimes.com/2022/02/04/realestate/home-buying-regret.htmlMy sympathy is in short supply, mostly here to rant. No one forced people to make crazy house buying decisions. And the mania of HCOL folks paying almost anything in lower cost of areas made life super difficult for locals. I'll be completely transparent that we moved from a HCOL to a MCOL area just before the pandemic hit, and we aren't exactly trend setters, so this has been going on for a long time. I guess I'm mostly bristling at some of the quotes and attitudes in the article.
The couple with no farm experience whatsoever, buys a farm with two cows:
Almost immediately, the couple regretted their decision. The property felt eerily quiet and isolated, and maintaining five acres and two cows was more work than they anticipated. “You see these people on Instagram with their farm life,” Ms. Mohan said. “Nobody tells you what actual hard work that is and how time consuming it is.”
No shit! Farming and working the land is super hard work. Does anyone really think it's easy?
The lady that overpaid for a too-big house in Seattle regrets her decisions because...
“I could have taken a big break or been that person who’s like, ‘OK, I’ll move to Montana and get a house that is everything I want for half the price.’”
Maybe? Though I doubt she has Eastern Montana in mind. Western Montana is very beautiful and it has quaint historic towns, hence it's gotten very expensive.
The guy who moved to Lexington KY:
With a budget of $1 million, Mr. Parman imagined that he could find a picturesque historic property to be his forever home. Instead, he found extremely limited options. And the properties that were available were a far cry from the stately homes he envisioned.
This one seems a little more reasonable, but still, I find the attitude somewhat bothersome.
These stories all have a hint of entitlement, and expectation that $700k or $1M or whatever is going to buy an incredible property somewhere else. I find it somewhat snobbish, like playing the high roller and looking down one's nose while slumming it. I've seen it happen here in Boise, where people move here and then are upset that they can't get a huge historic mansion or lakefront for what they sold their house for in CA. It's so unrealistic that it comes across as arrogant.
/rant I suppose every generation needs to experience the pain of making poor decisions, be it real estate or the stock market or whatever.