Housing - here's what a $$$ million gets you here

[ern-diz]

Originally Posted by Runethecursed

that said I got a bad feeling in my knee that the economy is gonna rupture something like 08 again.

This.

I listen/read a lot of libertarian stuff and there does seem to be several bubbles waiting to burst. Credit card debt, auto loan debt, school loan debt and several other sub prime bubbles. Some think it's going to be worse than '08. Because of that, I've been lobbying my wife on considering cashing out of our current house. We bought it 5 yrs ago when prices were still fairly low. We have about $100k in equity in it right now and I'm afraid that's going to evaporate in a couple years if SHTF. We're looking at new homes in Arizona and other neighboring states, trying to see if it would make sense to cash out of this California home and use it to pay off over half of something even nicer in a state next door. With things like interest rates starting to creep up, the window of opportunity might already be starting to close...