[widebody911]

Originally posted by Moneyguy1
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?

I've wondered that myself. Unless you're going to rent, hoping the market crashes, you have to move out of state, or to BFE Lassen County. If you stay and the market doesn't crash, you're SOL.

Speculation - gotta love it.

From talking to various people who have been selling their old house and buying another, it seems they're 'leapfrogging' in a sense; leveraging the 'appreciation' from house A, taking on a little more debt, and getting into house B. There's a couple guys here at work who have done this 2 or 3 times over the past few years. One guy is a PC support tech who's moving into a $550k (he prefers that you use the phrase "half a million") just above Rocklin.

What I want to know is where are these billions (in aggregate) to buy these houses is coming from?

There's a house around the corner from me that's been for sale for a couple months, and it now has a 'sale pending' sign on it. I grabbed one of the flyers yesterday, out of morbid curiosity; 1/3 acre, 1800sqft, 3br, 1.5ba, a few upgrades like dual pane windows, hot tub, some built-in cabinettry, etc. $359k asking price. Since it was on the market so long, I'm assuming it went for less than that. Wow.

My house is about the same size, but 4/2, no hot tub, but has a 25x25 shop with a bathroom and a lift Wonder what mine would go for....