The nature of nesting

By DEIRDRE FULTON  |  February 18, 2009

NM "I think that it felt more competitive to purchase a house, because there are so many first-time buyers who want to take advantage of the market, but also so many sellers who owe too much on their properties and were asking prices that weren't affordable. The $7500 tax credit, which is really a zero-interest loan that's repayable over 15 years, was an essential part of my comfort making the purchase, because it gives me cash on hand in case the unexpected happens — leaky roof, failed furnace, etc. — things that would be tough to manage after you've sunk so much of your cash assets into the purchase."

KM "I worry a lot about the security of my job and those of my roommates too — most of us, myself included, work in the service industry. Once you've sunk all your money into a down payment, it is a lot harder to have a safety net should the worst case happen."

JR "Currently I'm holding on for dear life, but I'll get through it. I'm not as concerned about the value of my house — though it is less than what I currently owe (ass-over-teacup, as they say...) — as I am worried for my ability to continue working in Maine."

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