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Xenophage · 05-21-2005, 12:05 AM

in 1988 I bought ahouse in Santa Cruz for 156,000 in 1989 after the earthquake I sold that same house for 270,000 It was a huge runup in real estate in this area. Much like it is now.... The price of the house then went to about 220-240K within the next 5 years and it took to 1999 tech boom for it to pass the 270K.. since 1999 till now that house is worth about 850K so if ya were willing to sit on the property and could afford to do so for 10 years you were well rewarded. I guess my point of this thread, is just make sure you are no so leveraged that you could not pay the mortgage for 10 years out of pocket or subsidized with rental income..

05-21-2005, 12:05 AM
Xenophage Registered User Industry Role: Join Date: Oct 2001 Posts: 12,122	in 1988 I bought ahouse in Santa Cruz for 156,000 in 1989 after the earthquake I sold that same house for 270,000 It was a huge runup in real estate in this area. Much like it is now.... The price of the house then went to about 220-240K within the next 5 years and it took to 1999 tech boom for it to pass the 270K.. since 1999 till now that house is worth about 850K so if ya were willing to sit on the property and could afford to do so for 10 years you were well rewarded. I guess my point of this thread, is just make sure you are no so leveraged that you could not pay the mortgage for 10 years out of pocket or subsidized with rental income..