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[QUOTE]Originally posted by SoCal911SC
[B]It all depends on timing.
If one would have taken the "paper profits," sold in Calif. in 1990 and moved back in 1996, one would have made out quite handsomely.
I have a friend that did just that. He went to Idaho in the early 90's when everybody was leaving.
Didn't like Idaho, so his timing was good when he came back to Cali. in 96. He bought a house in Canyon country for around 250K. The house was built around 90 and they sold new for over 300K back then.
He was lucky, I have other friends that moved early in this upturn, They made 150K and moved way out to Tahachapi Ca.( SP? ) Now they want to come back and can't.
I hate to see it happen again because when people feel good about having positive equity in their house they spend more money. When it turns negative they don't, And it trickles into everything.
And If you need to sell you can't find a buyer.
Three houses went up for sale down the street and I don't think their selling so quick as a month ago.
I said to one of the owners, "Now there's several houses for sale on the block" She said, "I know it's Crazy"
I think that one word summed it up.
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