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Housing is a poor investment in the long run. To cash it in, leaves you with no place to live. And, given trends in prices, the probability is, unless one relocates to a less desirable area, all properties in the same area will have appreciated by a like percentage.
Your parents, in 1965, bought a house for $25k. It is now worth $500k. If they sell it and move to another house in the same neighborhood, the new house will have a price comparable in multiples as theirs. Where is the gain?
It is so confusing and I was in the business............
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Bob S. former owner of a 1984 silver 944
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