5 ms·
Stock price and home appreciation probably had a lot to do with it, but that does seem like a very short time horizon.
by tspike 8y ago
Stock price and home appreciation probably had a lot to do with it, but that does seem like a very short time horizon.
- rhexs 8y agoGood point. Over that period, you probably could cash out on a house in Boulder and make a pretty easy 500K+ if you were lucky enough to purchase before the great weed deluge.
- astura 8y agoThen you'd have to move to Missouri to actually be able to spend any of that $500k. You couldn't "cash out" and simultaneously stay in Boulder, unless you moved from a four bedroom to an efficiency.
- muzz 8y agoLikely. Luck of good timing presented as clever frugality.
- analog31 8y agoI'm not sure that home appreciation helps, because you have to live in a home, and if you sell one home, you have to buy another. Or rent. But rents should track home prices. The way I figure it, home ownership helps because once you own a home, you can't be priced out of the housing market any more.
- acdha 8y agoIt helps if you can go from a very expensive market to a much cheaper one. The catch is that most people aren’t actually ready to give up their friends, put their kids into financially struggling schools, etc. and lower cost is easy to overshoot when e.g. it turns out that the new place should have had higher taxes to pay for necessary infrastructure. As with most of these stories, there’s something there but it’s usually heavily cherry-picked to get the eye catching effects.
- randomdata 8y agoYou many need to buy/rent another, but it can be in a lower cost market. Nothing says it has to be the house next door.