Posted at 11:25 AM on January 17, 2008
by Julia Schrenkler
Mike Reszler, MPR's Managing Editor for online news, wants to know if problems in the housing market affecting you? Jim G. replied:
"I bought at the peak of the market, just about 2 years ago & had enough economic sense to realize that I was doing so. Retired, on a fixed income. Didn't buy on spec or as an investment - just needed a place to live.
Don't feel sorry for investors - it's a gamble & if you lose, whatever. Feel sorry for those who were sucked into teaser ARM's by greedy lenders. You can say that it's 'Buyer beware' but it's predatory, loan-shark practices that take advantage of people's dreams."
Does Jim's experience mirror your own, or do you have a different situation? Join the discussion and tell your own story.