8 ms·
Not so hard if you assume it's their second house, and they bought the previous one a few years back. Once you're on the housing ladder, you're protected to som
by neffy 10y ago
Not so hard if you assume it's their second house, and they bought the previous one a few years back. Once you're on the housing ladder, you're protected to some extent from the increase in the price of the house you want to buy, by the increase in the price of the one you already have.
- ChuckMcM 10y agoThis was my experience, the small house my wife and I bought originally, then after a few years we were vested in our options and had some equity in our house, the combination let up step up to a larger house with essentially the same payment (rates had come down, our down payment was bigger).
- refurb 10y agoI don't disagree. If you've been owning in SF for the last 20 years, you're good. But how many people in SF arrived in the last 5-10 years?
- billhathaway 10y agoExactly: we bought in San Jose in Sept 2011 and have seen our townhouse's value increase by approx 60% since then (which seems ridiculous to me). We really lucked out on our timing. The seller who had originally owned our home sold for a ~20% loss over their purchase price (purchased in 2007).
- throwaway_exer 10y ago> Once you're on the housing ladder You're talking about flyover country. That doesn't really apply to the Bay Area, where most people are locked into whatever they initially bought unless they have stock options in the money, or receive an inheritance.