I bought my first house in 1982 for $38,500.
When I sold it in 1990 I was lucky to get $29,000 for it. The housing market dropped significantly due to large manufacturing plants closing.
That said, every other home I’ve purchased has increased in value since then. And I did live in the house so the loss was similar to what rent would have been.
>That said, every other home I’ve purchased has increased in value since then. And I did live in the house so the loss was similar to what rent would have been.
My dad bought a house in Huntington Beach for 230k in 1995, sold it for 650k in 2005, and now it’s worth 1.3 mil.
The Cali market is going to crash soon, though.