Wow, with logic like that I hope your wife/significant other handles your finances. Did you even read what I said. Home values really mean nothing unless you fall into the categories I already listed. Your premise is that everyone relies on their home equity for retirement. That makes no sense. If you buy a house for $750K and planned to pay it of before turning 65 - then the value drops to $400K - you still pay off your mortgage by 65. How has that put anyone under water? What on earth do you mean by "sell and close out your mortgage??" Are you saying the only way to close out a mortgage is to sell? Does everyone plan to sell their house in retirement? Try to read this again slowly so you'll understand... Home equity means nothing unless you are selling and moving into a different market. If you have a loan that will adjust to a higher interest, making your payment more than you can service, THEN you will have to sell and take the loss to get out. How many west pilots fall into this category? Any you know of? Otherwise what you're saying does not apply and makes no sense. Do you understand what underwater even means? It means you owe more than it's worth? Only a factor if you are stupid enough to buy a home with 5% down, or worse, AND you can no longer service your loan. I can't believe I actually have to spell this out for you. Explain to us all how owning a home that is worth less than you paid affects retirement when none of your income relies on the value of your home. It might affect your heirs because when you pass there is less for your estate. But that's not what you're talking about.
And since YOU brought it up, having a bigger pay check is MUCH more important than home equity and value since higher income makes it possible to service the loan and avoid the need to downsize, or turn the paper loss into a real one.
Again, explain your conclusion and how it applies to home equity. Show your assumptions so we can see if your theory holds water. Don't we all have what we saved in retirement? Home value will only affect your worth, not your day to day finances if you stay in your home.
You sound like one of those pilots who didn't save a nickle during the good years and relied solely on that pension. I flew with guys at UA who were 10 years from retirement when our pension was cancelled, and had never saved a penny in their 401k. Their entire B-fund had a value of maybe $100K. Pathetic for a pilot employed for 25 years. I don't know about you, but I was always taught never to rely on a promise or a pension for your retirement, since it can evaporate over night. And it did. I treated my pension like icing on the cake. In fact I would guess that since the west never had a pension, they were better at saving than most of you east pilots since day one, putting them in a far better position.
And how has this changed since the merger. With the exception of those who lived in Vegas, weren't they always in Phoenix? Another assumption on your part? That they somehow WANT to move to Charlotte instead? Could it POSSIBLY be that their "obsession" with getting a contract has nothing to do with home values and escaping a bad housing market, and everything to do with holding you to your obligations and not letting you fulfill your perceived entitlement at their expense?
As long as they wish to bash you with LOA 93, how about you come up with a counter "bash" that actually makes sense. Deal?