The craze of housing

Well it has been awhile since I last wrote my last entry here. With the whole facebook sensation I don't have enough time to update both on a regular basis.

So let me tell you....the housing market in Regina is looking a little scary these days. The house that we moved out of two months ago and the owner sold for $138,000 is now worth $185,000. That's right, in two months the value of the house went up $47,000. I was talking to our real estate lady and she says that is the extreme case right now, but that housing is on the upward spike right now and she sees little chance of it slowing down in the near future. So here we are....wanting to get into a house of our own and start paying ourselves for rent instead of throwing it into someone elses pocket but just can't seem to pull it together. With student loans being a lingering shadow of my past no bank will look our way and without getting a piece of paper that says Jamie and I hold permanent jobs we are not able to get a mortgage. What do we do? Get parents to co-sign and borrow a down payment? Where does that get us....now we owe parents/grandparents/family money instead of owing the bank? We could sit around on our ass saving money...for example $20,000 for a down payment and in that time have a bit of our debt paid down, but think about it. We save $20,000 for a down payment on a house that has increase in value of $70,000 in the time it took us to save $20,000. What the fuck! So now not only are we paying rent longer, we also lose out on $50,000! AHHHH!!!!!

If we had bought a house 2 months ago....got a co-signer we could be selling it now, paying off all of our debt and getting into a bigger/nicer house and being happy forever. This is the curse of being our age and trying to develop ourselves with careers/houses, etc. in a time when the economy is booming and the rich are getting richer as the rest of us sink in the rising tide.

I guess in the end all we can wish for is that it all works out for the best!