I'm retiring next year, maybe prices on housing will be affordable just at the time I'm considering becoming a "snow-bird" to flee from these Ohio winters.
I guess how this affects you depends on where you are in your life more than anything else.
True. Me and my wife have been fortunate in that we have been able to buy and sell in different geographical areas. We have no problem selling high and moving to different parts of the country which we have seen to be better suited to buy and sell. We took advantage of the West coast market, sold at the right time and moved east at the right time. We are about to sell and move again. There is money to be made if you are willing to follow the opportunities.
My wife & I purchased our small 2 BR home w/3.5 acres in 1973 for $9,900.00. As we could afford we made improvements one at a time and paid off each improvement before starting the next. We were able to help our two sons get through college (University of Michigan & Hillsdale College), and our house has been paid for for many years. We concentrated on living within our means.
Our property recently appraised for $175,000.00. We may sell soon to move to the warmth.
I guess how this affects you depends on where you are in your life more than anything else.
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exactly. where you are at a specific time in life.
I retired 4 years ago and at a similar circumstance as you I was lucky to be able to sell high in a high cost area, move down to a smaller retirement property, buying low in a warmer and lower cost area and now I'm set for life. I couldn't do that today. It all boils down to what's going on at a particular time in your life.