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I know a lot of people in the Bay Area who did exactly the opposite in 2017-19, looking at how prices doubled, they assured me in 5 years their investment would
by oxag3n 11mo ago
I know a lot of people in the Bay Area who did exactly the opposite in 2017-19, looking at how prices doubled, they assured me in 5 years their investment would double as well.
- harmmonica 11mo agoDo you mean the opposite as in they purchased because they wanted to make some money? If so, that makes sense since one of the many reasons people buy homes is to invest in them. Here's hoping you didn't follow their lead, though, given https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEE6075 https://fred.stlouisfed.org/series/MEDLISPRIPERSQUFEE6075. But even having said that, people will buy houses or condos in SF today and make a profit in spite of any broader market conditions. But that seems dumb for someone who has a full-time gig that's anything other than identifying underpriced residential investment opportunities given how crazy both housing prices and equity (tech in particular) prices are.
- oxag3n 11mo agoYes, opposite meaning they purchased to make some money. I'm happy I didn't follow their lead and it made me way more mobile during the pandemic and investments that would be paid as a fat down-payment grew significantly (even if considering leverage housing enables).