I assured him that his name and story rang a bell; he’d made (at least three) attempts to find an affordable house and qualify for a mortgage in the past year or so. I wondered how it was going, and if a successful quest was the reason for his call.
“Listen,” he said. “I just wanted to let you know that I am moving to Pennsylvania. I got a job offer that pays almost as much as I make here, but I can afford to buy a house near where I’m working.”
I wondered whether he was better off making more here and renting, but he rejected that scenario. “Every day I’m mad, or sad, or angry that I can’t find a house around here that I can afford. I’d rather make less and own a home.”
He’d called me, but I was going to get my two cents in. “Based on the numbers you’re discussing, you’re going to have a 90% mortgage. So owning 10% of a house free and clear is worth relocating and earning less?”
“That’s the wrong way to look at it,” he said. “10% is more than I own here.”
Everyone has different goals and motivations; I guess what was most important to my caller was that he’ll finally get his piece of the pie.