Emily and I got the keys to our new town-home today, Tuesday Oct 26th, 2010. Escrow lasted exactly 31 days. We’re scheduled to send in our last payment 30 years from now, on Oct. 26th 2040… That’s a difficult year to fathom. 2040.
If I survive that long, I’ll be 65 old, still hacking Unix and Linux, off roading my 2008 FJ Cruiser (it will be a classic truck by then!), playing video games, reading my books on an Apple tablet computer of some type, reluctantly voting Republican, and still defending the artistic merits of Wes Anderson’s Bottle Rocket.
Emily and I were locked in at a very low 4.0% interest rate, but that doesn’t stop the time-value of money calculation from slapping me in the face.
I love our new home, and I think it was a wise investment despite the current real estate situation. Time will tell… 2040!!!
Kevin Stanchfield 