“I’ve heard a few stories, of people who have lived in California for years, and sold houses and made a lot of money on the deal.”
Happened to me and my wife. In 2004, we sold our house in SoCal for four times what we paid for it, just eight years prior. We essentially got back every mortgage payment we’d paid on it, and then some.
wow. That really worked out well for you and your wife.
So often, these stories of high housing prices are discussed, from the standpoint of how difficult it is for buyers, especially young people.
And I appreciate those concerns.
But another side to housing prices escalating, is that people such as you and your wife, enjoyed a great financial benefit from seeing your equity in the property grow so much. That side of the story of high housing prices is rarely told by the media.