ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
We sold our copiously inflated home in SoCAL last August. I look back now and the same place is selling for $120k more than when I sold it. Other than this fact P!@&#s me off, it presents a problem. For the next couple of years we are travelling (we really were not comfortable doing this with a big asset in SoCAL) and renting, but sooner or later we will more than likely settle down and buy (or rent?)
By the time we want to buy, will house prices stabilize and get more affordable? We will not buy such an expensive home next time, but the old one did gain 100% in 11 years (most in the last 3 years) and was a major contributor to our ER.
We are no longer in SoCAL and intend on settling down someplace in Western Canada. But prices there are almost as high there in proportion.
Perhaps there are some folks out there with Real Estate experience that can shed some light.
Background:
We purchased our place in SoCAL in 1991. It promptly went down 15% in 2 years and hovered there for 5 -7 years then slowly inched up and skyrocketed in the last 3.
Is this problem affecting anyone else?
SWR
By the time we want to buy, will house prices stabilize and get more affordable? We will not buy such an expensive home next time, but the old one did gain 100% in 11 years (most in the last 3 years) and was a major contributor to our ER.
We are no longer in SoCAL and intend on settling down someplace in Western Canada. But prices there are almost as high there in proportion.
Perhaps there are some folks out there with Real Estate experience that can shed some light.
Background:
We purchased our place in SoCAL in 1991. It promptly went down 15% in 2 years and hovered there for 5 -7 years then slowly inched up and skyrocketed in the last 3.
Is this problem affecting anyone else?
SWR