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unless you downsize after you sell, and if it's your primary residence, your house is not an investment...
you only gain the privilege of paying higher RE taxes.
Let's say my house doubles in 5 years to $1 million dollars. so what? I can sell it, but where will I go? Unless I downsize to a smaller house, I haven't made any money. I've paid thousands in taxes/insurance/interest/maintenance over those years. And I personally wouldn't want to downsize. downsize is a bad word, means less garage space for my 911s, it means moving to a less desirable neighborhood, etc.
when someone tells you your primary house is a good investment, they are lying to you. A house is only a place you enjoy for all it offers. It's not an ATM machine. and it's certainly not a profit-maker. the financial institutions have brainwashed the general public - motives always drive the advice.
Last edited by on-ramp; 03-01-2007 at 11:39 AM..
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