The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Don Green who wrote (45185)	11/29/2005 2:38:21 AM
From: charlotte_sometimes	Read Replies (2) of 306849

I wonder how many now retired military servicemen who bought a house in the San Diego area back in the 60's-70's post Vietnam era while they were on active duty are now millionaires, purely based on their home value. Quite a few. My father (not a retired serviceman, but did serve) bought his 1920's 1300sq ft house in San Diego in 1965 for $14k. Sold in 2002 for $350k (to buy another California house). Back in '65, my mother had wanted a house closer to Balboa Park, but dad wouldn't go for it, because it was an extra $5k. Dad's house is now worth about $550k and the house on the park she wanted is about $900k. By the way, propery taxes on dad's house when we sold? $350 per year. Selling was a hard decision, because if I had inherited that house, I could have kept those taxes (+ 2% per year) for as long as Prop. 13 lives on.

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