Anonymous wrote:Hindsight is 2020

Hindsight is 2020

Anonymous wrote:Lot of luck. My friend rented till he was 58 and in December 2019 bought a house in Malibu for 2 million now worth 3.5 million.

He was all in stocks and just sold a portion to buy house. He has no mortgage.

Was he homeless the whole time? If not, he pissed money away on someone else’s mortgage and operating expenses and gave them a profit too, plus annual increasesm compounded and cost to move anytime he switched places.

Buying a 2M house in Malibu doesn’t sound that exciting at 58. Probably could have purchased a very similar house 30 years ago with a mortgage and refinanced a few times, paid less total than he paid in rent over the same time frame, freeing up additional liquidity to be invested, meaning he’d have a healthy investment account and probably be sitting on a 3M house free and clear today heading into retirement.

Sadly, it has. We looked at a house near Carter Barron in 2019. $1.1. Now worth $1.7. I am so mad at myself!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I live in LA and my house went up moderately, but our second home in palm desert has doubled since we bought in 2019. There are definitely areas where things have gone up drastically, especially here in CA.

You're not allowed to participate in this discussion if you have California real estate.

Lol I was replying to the other CA posters. Don’t be a hater, because those of us in CA have doubled our investments.

You're not getting my sarcasm, neighbor. I DO live in CA. I'm the poster on page 1 who's real property value has skyrocketed. FWIW, I was born and raised inside the beltway, moved to CA 10 years ago.

Anonymous wrote:

Anonymous wrote:I live in LA and my house went up moderately, but our second home in palm desert has doubled since we bought in 2019. There are definitely areas where things have gone up drastically, especially here in CA.

You're not allowed to participate in this discussion if you have California real estate.

Lol I was replying to the other CA posters. Don’t be a hater, because those of us in CA have doubled our investments.

Anonymous wrote:I live in LA and my house went up moderately, but our second home in palm desert has doubled since we bought in 2019. There are definitely areas where things have gone up drastically, especially here in CA.

You're not allowed to participate in this discussion if you have California real estate.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Sorry but nowhere around here has gone up that much since 2020. Nowhere.

We bought for 1.275mil in 2019, house is currently valued at 1.7 mil, we are at 2.75% so it really doesn’t matter to us but prices have gone up quite a bit.

Ok. So that is an assumed 33%. That’s about what you would expect in the DC area.

OP already said the house is not around here.

Anonymous wrote:

Anonymous wrote:Lot of luck. My friend rented till he was 58 and in December 2019 bought a house in Malibu for 2 million now worth 3.5 million.

He was all in stocks and just sold a portion to buy house. He has no mortgage.

Sounds like a skilled investor. Not luck.

Investing in stock market since 20s and buying at 58 is not skilled investor. Also, had he left the 2 million in stocks, he would have the 3.5 million and possible even more. Stock market was went bananas in 2020 with all the money printing. Either way he would have been fine, because house prices went up too.
I did 5x from April 2020 to 2021 in the market.

My house close in DC burb has gone up approx 30% since we bought May 2019. Based on value, we’d still have to sell it to know for sure but this area has low inventory and is highly desirable