A Family Adventure

Tyson, Emilie & Isaac

the economy, house, etc

September 17, 2008
Emilie Phillips

Well, as of today, at least one bank says it would be no big deal to issue us a construction loan. Hopefully between now and next spring when we get around to wanting it, that won’t have changed too much. I am definitely feeling like had better timing than I am going to have at converting his savings into hard assets.

Once we get the house plans a little more stable, are any of you guys interested in seeing them?

P.S. 1.5 weeks left to go until we hear back from the contractors. Tick, tick, tick, …


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Comments (8)

      • Worse than having lost about 30% compared to just leaving the money in the bank? Ouch.

        In Montreal a few weeks back my uncle confided that he owned some Freddie Mac. But presumably that’s not all he has.

    • It seems that buying/building a house must be one of the things one does with such investments that are losing value. Back in 1972, we purchased our first house with what we called “under-the-counter” stock. My Dad had invested money for each of his kids in an over the counter stock. [Back before the days that most stock was on an exchange, most small company stock was traded directly between two individuals.] By the time we sold it, it was worth less than half of the original value. It still made a down payment. My sister did not sell hers until it was worth less than 1/4 of the original value a couple years later – again to purchase a house.

      • Well, I sold everything — including some mining company stocks that have done exceedingly well, and beer stocks that haven’t really been affected much (people get drunk either to celebrate or to mourn), and I put down some cash out of the bank. That got my mortgage rate down a half-point or so, and in retrospect was a brilliant(ly lucky) move since the stocks would have lost out.

        I’m not sure this condo of mine is exactly an investment. Probably I’d be better off renting given that I’m moving again in only two years. Instead, I view it as a luxury: the freedom to change things. Emilie, on the other hand, is presumably planning on living in the same place for a while. When she retires, sometime next century, she’ll be rich off the house.

  • Yes, I’d love to see the house plans! I like blueprints/floor plans/etc., plus I think it’s awesome you’re designing your own house, and a solar house to boot! Good luck with everything!