The issue with "my house is worth twice as much now" is that even if you sell it, unless it's an EXTRA home that not many people have, you gotta move somewhere. Likely, the place you're going to or building has had their prices doubled too, so it's not like you're winning. It's like everything else in market conditions- buy low, sell high. Even G-bodies. If you were getting rid of one or more, and wasn't going to buy another, then the prices doubling are great for the seller. Not so much for anyone buying, though. So it's not like you're going to find a good deal around every corner. Yeah, there was a time that you had to pay dearly for a special G-body, such as a Monte SS was $3500 instead of 1800 for the base model. Nothing's changed. Now all of them that are in decent shape are priced way up there.
Another caveat people never think about is that $200K home that's now worth $500K is going to be taxed at the going rate, not how much you paid for it originally. And now, people are whining about rents being too high. Why do these idiotic munincipalities think that it's the land owner just being greedy when he has to raise the rents? It's crazy. They tax the pee out of you, but you need to control your rent prices at the same time because you're greedy. Sorry. That's not how economics works, dillhole.
There was a time you could buy nice, Florida property in decent neighborhoods between Crystal River and Orlando for dirt prices during the housing bubble bust. I know, as I was looking at doing just that. I was so tempted. But I didn't want to deal with an out of state house to fix up and rent out or whatever. We had just got rid of a rental and the headaches can suck. I was still working then and we've dealt with property managers before and, well, headaches would likely double. Hindsight says I should have done it, though. $300K homes in the 120s at the time. I almost thought it was a scam, but it wasn't. Now, those prices in that same neighborhood is well over 300 just to get in there.
Another caveat people never think about is that $200K home that's now worth $500K is going to be taxed at the going rate, not how much you paid for it originally. And now, people are whining about rents being too high. Why do these idiotic munincipalities think that it's the land owner just being greedy when he has to raise the rents? It's crazy. They tax the pee out of you, but you need to control your rent prices at the same time because you're greedy. Sorry. That's not how economics works, dillhole.
There was a time you could buy nice, Florida property in decent neighborhoods between Crystal River and Orlando for dirt prices during the housing bubble bust. I know, as I was looking at doing just that. I was so tempted. But I didn't want to deal with an out of state house to fix up and rent out or whatever. We had just got rid of a rental and the headaches can suck. I was still working then and we've dealt with property managers before and, well, headaches would likely double. Hindsight says I should have done it, though. $300K homes in the 120s at the time. I almost thought it was a scam, but it wasn't. Now, those prices in that same neighborhood is well over 300 just to get in there.
