4 ms·
Oof, that sucks. My parents managed the exact opposite. We had a house in the middle of nowhere. Their business was slowly going under so they decided to sell a
by pram 2y ago
Oof, that sucks. My parents managed the exact opposite. We had a house in the middle of nowhere. Their business was slowly going under so they decided to sell and move in with my mothers father (lol) and did this at the absolute top of the market (2006)
The person who bought it is still holding the bag if Zillow is any indication, it’s still about $30k under what he bought it for. I often think about how many people are still screwed from that time.
- ThunderSizzle 2y agoIts an interesting tale, because we might be in a very similar bubble. Or not. It's hard to tell, because the dollar has been so devalued, while housing is over-inflated, and money is expensive. It's a cruel joke when money is worthless and expensive at the same time.
- throwaway2037 2y ago> because the dollar has been so devalued Can you explain? The USD vs EUR FX rate has barely changed in 10 years. If you believe the US dollar has been "so devalued", then you must believe the same for Euro.
- ThunderSizzle 2y agoI dont really need to, because it was clearly obvious during the pandemic response of the massive inflation that occurred, but the dollar is the base currency of the world outside of China/Russia's sphere. As you observed, the Euro is pegged to the dollar right now. How has assets done compared to the Euro? How has house prices? Housing, land, stock indexes, and even consumables like tools, groceries are all doubled their 2021 prices.
- LUmBULtERA 2y agoMost nations had inflation -- so "devalued" is not in relation to other currencies but in what the monetary unit can purchase.