Sold my house in Frb 2023--the worst time in American history to do so

[Anonymous]

Feb 2023?! You must be completely out of touch, OP. This was a fine time to sell. Yes, prices may have gone up a bit since then, but you benefitted from the Covid appreciation. An old friend of mine said: you never lose money by selling at a profit. Put the money in the market and forget about it. Managing a rental is a pain in the butt. Plus, you pocked $500k tax free. Get over yourself.

[Anonymous]

Anonymous wrote:Feb 2023?! You must be completely out of touch, OP. This was a fine time to sell. Yes, prices may have gone up a bit since then, but you benefitted from the Covid appreciation. An old friend of mine said: you never lose money by selling at a profit. Put the money in the market and forget about it. Managing a rental is a pain in the butt. Plus, you pocked $500k tax free. Get over yourself.

100k not 500k if I said the latter that was a typo

[Anonymous]

You're fine OP, you're beating yourself up where you shouldn't. Just because you didn't get super lucky with timing doesn't mean you should feel bad about it.

[Anonymous]

Anonymous wrote:Feb 2023?! You must be completely out of touch, OP. This was a fine time to sell. Yes, prices may have gone up a bit since then, but you benefitted from the Covid appreciation. An old friend of mine said: you never lose money by selling at a profit. Put the money in the market and forget about it. Managing a rental is a pain in the butt. Plus, you pocked $500k tax free. Get over yourself.

The worst time in history? Please, share us the hyperbole.

[Anonymous]

Spare

[Anonymous]

Anonymous wrote:Sold our house in Feb 2023 due to relocation. It wasn't evident at the time that increasing interest rates wouldn't mean price decreases (yes, it was clear by Spring 2023 but in late 2022/early 2023, sellers were under assumption that prices were going to go down in our DC exurb). I have huge, consuming, nightmarish regret. If I knew then what I knew now, I would have never sold and would have made home a rental. A 2k per month mortgage payment, squandered and gone forever. Proceeds from sale are fine but our course do not have as much value as they would have a few years ago due to rising prices and interest rates, so I feel like I actually made no money from sale, any mortgage payment I get now will be 3k +.
How do you all deal with BIG regrets? Looking for advice. If this happened in my 20s fine, but at mid age, I feel so stupid for having to start over on the property ladder again.

Where is the ex-urb? Many ex-urbs are over-built and locations vary greatly. With that info we can understand what happened between Feb 2023 and now in that market.

[Anonymous]

We sold in 2011 and just barely got back what we paid for the house in 2003. It lost 50% of its value in the 2008 crash.

My parents sold a great house in 1981 when we had to move due to a health crisis….they barely got anything for it. Interest rates were so high and everyone was so poor coming out of the 70s.

There’s been lots of crappy times to sell. But you got to live in that house for lots of years and that is something.

[Anonymous]

We purchased in May 2020 and sold in June 2022 for 235k more than our purchase price.

We moved back to our prior home and renovated with the profits.

[Anonymous]

Anonymous wrote:Yeh interests rates are insane right now , king boomer ahole Powell needs to move the rates to get mortgages in a normal range to like 3-4%

If anything rates should go up but Powell is too political.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Sold our house in Feb 2023 due to relocation. It wasn't evident at the time that increasing interest rates wouldn't mean price decreases (yes, it was clear by Spring 2023 but in late 2022/early 2023, sellers were under assumption that prices were going to go down in our DC exurb). I have huge, consuming, nightmarish regret. If I knew then what I knew now, I would have never sold and would have made home a rental. A 2k per month mortgage payment, squandered and gone forever. Proceeds from sale are fine but our course do not have as much value as they would have a few years ago due to rising prices and interest rates, so I feel like I actually made no money from sale, any mortgage payment I get now will be 3k +.
How do you all deal with BIG regrets? Looking for advice. If this happened in my 20s fine, but at mid age, I feel so stupid for having to start over on the property ladder again.

Your math is wrong and you probably failed to invest into the market. Had you just bought Microsoft stock after your sale, you would have turned every $10k into $17k. Was your house going to appreciated 70%? Msft is not a scary stock.
Had you put money into Voo, which is 500 biggest companies, you would have made ca 32%. Did your house go up that much?
Had you bought apple, you wouldn't have made much, but its day may be ahead. It's ok for a company to take a breather.
It's not the house that should bother you, but not knowing how to invest. Open the account and get started.
You will learn a lot about market and it will benefit you for the rest of your life.
I started investing in March 2020 after selling a condo. Work closed down and I had nothing to do but sit on youtube- million financial videos. I have half a million and I started with ca $100k. If I were to lose it all, I could do it again. That's how much I have learned.

Nice story. There is money to be made in the market. You did well. But not that well actually. 5x starting from $100k is average at best in that bull market.
I started in 2020 as well but with only $10k. Now I have close to $1m in my brokerage account.

[Anonymous]

Counterpoint: the national median house price peaked in January 2023, so February 2023 was the BEST time in American history to do so.
https://fred.stlouisfed.org/series/MSPUS

[Anonymous]

So you weren’t underwater on your mortgage?

Then, no, it wasn’t anywhere close to the worst time in US history.