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My house rose about 23% in value YoY based on almost identical units to mine that sold at the end of summer through current. That's 23% of $480,000, which is a
by cronix 5y ago
My house rose about 23% in value YoY based on almost identical units to mine that sold at the end of summer through current.
That's 23% of $480,000, which is a hell of a lot more than 50% of $4 for gas or 30% of a $40,000 car. Percentages mean nothing, really.
- dragontamer 5y agoAnd how much money did you lose on your house properties going up in price? Ah right, you made money and/or equity actually. That didn't really affect your price of housing. Your 30Y mortgage was locked in years ago, so you only benefit when prices go up.
- cronix 5y agoIt affects the price of anyone looking to buy a house in my city. My house is right in the median price for the area. Rent prices have also risen accordingly.
- notch656a 5y ago>Your 30Y mortgage was locked in years ago, so you only benefit when prices go up. Unless you stay in the house until you die, in which case property taxes mean you lose bigtime by appreciating values. For a house staying in the family I'd want it to be worth as little as possible.