Rex, I bought my house in 1991, not far away from Alexandria. Even if it loses three quarters of its value, if I sold it I’d still make a killing relative to what I could have made in the stock market or any other investment instrument over those years.
Good to know!
As for the stock markets, it all depends how you were invested over that time.
You know, with houses, you really have to take out insurance and taxes and such, and minor repairs made over time to keep up the property, to get a real idea of your profit or likely profit.
I’m sure you enjoy your home! I do, too!
Good to know!
As for the stock markets, it all depends how you were invested over that time.
You know, with houses, you really have to take out insurance and taxes and such, and minor repairs made over time to keep up the property, to get a real idea of your profit or likely profit.
I’m sure you enjoy your home! I do, too!
“Rex, I bought my house in 1991, not far away from Alexandria. Even if it loses three quarters of its value, if I sold it I’d still make a killing relative to what I could have made in the stock market or any other investment instrument over those years.”
The key here is selling it - the markets across the country are overbuilt and have massive amounts of inventory that’s not selling. That’s why this is happening, why foreclosures are growing - nobody can sell, because nobody is buying. Take a look in your area, and see how long houses are sitting on the market - the appraisal you’re basing your “killing” on may not be accurate anymore.
If you can afford your mortgage, and have a fixed loan, more power to you, you’ll be fine (except having your purchasing power diminish with a recession). If you have to sell, for any reason...you may be in for a surprise.