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Yes, but if you have a mortgage and have been there for a long time, you're probably sitting on a gold-mine. i wonder if bay area residents ever consider how m
by pascalxus 8y ago
Yes, but if you have a mortgage and have been there for a long time, you're probably sitting on a gold-mine. i wonder if bay area residents ever consider how much money they could make if they just picked up and moved some where else. I bet many of their houses (or the equivalent amount of equity invested in rent ROI optimized houses) could out-earn the people living in them, if they bought more than 20 years ago.
- Clubber 8y agoIt's not like that in most places. I bought my house at the right time and it's only increased in value maybe 50% in nearly 20 years. I mean it ain't nothing; it beat inflation, but tack on the interest and I'm probably negative. At least I have equity built into it, which I wouldn't if I had opted for an apartment for 20 years. Most houses only make you rich in the fact that you own something after all the years of paying for shelter.