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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]All these posters chiming in with how ‘smart’ they were to purchase that 200k house that’s now worth 600k are really just lucky, lucky, lucky. You happened to buy (+be in a position to buy... so born) the moment before the biggest upswing in home values in the history of... ever. Sorry but that is not a reflection on your financial savvy.[/quote]

You could say the same about anyone who invested at what turned out to be the right time, or chose what turned out to be the right stock.

We took a calculated risk. We bought in an area most people thoguht was a warzone -- in fact, a man was mugged in our front yard about a month after we moved in, at 2 in the afternoon.

The fact that the generation behind us decided Capitol Hill was THE place to live is largely because people like us moved there a decade earlier and made it a lot more inviting. Call it gentrification, or simply call it people who saw the potential of the area. Doesn't matter -- we paved the way. And it's a decision I'm proud of.

And, just for the record, we paid $141 and the house is now easily worth $850K. Just for the record.

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I think the point is that even a house bought in nw dc before 1997 would have appreciated by a similar multiple.[/quote]

No it's not (different poster btw). My house has increased from $180k to around $1m in 15 years because I bought in a neighborhood no-one wanted to live  in. If you bought in upper caucasia in the same period you wouldn't have seen such a huge increase. Likewise, when you buy a foreclosure, like I did, you make a better investment than buying a renovated  flip and paying a premium for granite counters.[/quote]

I think the original luck pp is saying that you happened to be in a position (age at a certain date in history) to buy such that these opportunities were available. For those looking to get on the property ladder today there are far fewer opportunities (read neighborhoods with tremendous potential) than there were when these posters were able to get in on the ground floor.[/quote]

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