Quote:
Originally Posted by glatt
High property prices are great if they go up just before you plan to move somewhere cheaper. Otherwise, they only mean you pay more in property tax. And that's if you already own. If you don't own, then they just mean you are screwed.
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Yeppers. Ya gotta know when to hold 'em, and know when to fold 'em.
I sold my condo just before the CA housing bubble went completely tits up. Four years later, it was listed at $150k.
A month after that, it was foreclosed to the lender for $111k.
Yay me!
It took another 11 years for the value to return to where it was when I sold it. And now, it's worth even more. The California housing market is nucking FUTZ!