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Real Estate
Reply to "Isn't trading up going to end as folks are priced out?"
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[quote=Anonymous]Trading Up Only makes sense when home prices are falling not rising. Lets say I buy a house for one million cash but want a two million dollar home. Home prices rise 50 percent. I sell my million dollar home for 1.5 million but that two million dollar home is now three million. But lets say prices fall 50 percent. I sell my one million dollars home for 500k and buy that two million dollars home for one million. To trade up in rising market I need to come up with 1.5 million to do it. To trade up in a falling market I need only 500K to do it. [/quote]
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