Quote:
Originally Posted by tabs
Houses were not considered to be piggy banks until the mid 70's when houses started to go up exponentially in value. They were considered to be an overhead expense. That was when the USD was still considered to be stable. The housing inflation belies an underlying economic instability...Since the 70's RE has been boom and bust..
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I agree
but to clarify, ive never bought a house with the idea that I would keep it until the value rises and then sell and make a profit. Im not an investor type person
My only concern has been, should I decide to move will I get my $ back out of it....in other words, not lose money on it....buying a property in a location you know well helps in this regard as i know historically, my neighborhood wont go to ***** overnight without me having plenty of warning
This is the beauty of living in a place where a $90K house is as nice as a $300K house in california...of course I dont see palm trees out my bedroom window so there are trade offs to this type of security