with a mortgage of 30 years? only $60,000 they spent? well, It all depends on when and what houses did they bought. Where I stay, even those who bought a small house 10 years ago, had to pay $100,000 then, plus 30 years of interest and property tax, will be much more than that. Although no doubt, now that same house could be worth of 200,000. I agree, up to now, house still gives the best return.
Well, my point is that their houses are valued at a high price now, and by the time they want to sell, there might be no takers unless they deduct the price substantially. |
