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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: GraceZ who wrote (1330)	1/11/2002 11:46:37 AM
From: Tradelite	Read Replies (1) \| Respond to of 306849

I bought my home in 1978, not 1982, and in my post, I was using 20 years as a general ownership timeframe, but did say I had actually lived in it 20+ years. I was trying to keep the figures simple as an example. Also, I didn't say I paid $100K for the house....actually paid almost twice that much and much more than we could have afforded at that time, if it had not been for the nice tax deductions we could take on the mortgage----we were a double-income couple with no kids paying a LOT in taxes to Uncle Sam. And since I can sell my home today for more than twice what you say I could have made ($300K) by investing in Dow stocks, I still think I made a good investment in real estate. Property values have soared in my area since the 1970s; although there have been times when the value dropped dramatically (recession of early 1990s, for example), the values then surged even higher due to location and supply vs. demand. Locations like mine exist near major cities all over the country, so my experience is not unique and is destined to repeat itself over and over in the future for many other people, IMHO. Wasn't really trying to make an example of my own experience dollar-per-dollar, anyway. Just the general trend of how things work when you buy a home in a good location and keep it for a long time. It works!