Re:Housing Can’t Be Both Affordable and a Good Investment (2...
by Spooky23 on Thursday May 02, 2019 @09:40AM
(#19807775)
Nothing is ever always a good idea. Real estate is a good investment when the fortunes of the area are on the rise.
A $30k house in 1980 is NYC could be worth $3M today. The same house in Cleveland is probably less than $250k. (Mostly inflation) Even in that situation, the Cleveland house may still have been a good value based on having a fixed expense vs dealing with landlords.
Likewise, when economic policy shifted to favor the south, lots of owners of swampland in Florida and other places became very rich.
A $30k house in 1980 is NYC could be worth $3M today. The same house in Cleveland is probably less than $250k. (Mostly inflation) Even in that situation, the Cleveland house may still have been a good value based on having a fixed expense vs dealing with landlords.
Likewise, when economic policy shifted to favor the south, lots of owners of swampland in Florida and other places became very rich.