Steve wrote:

"Don K" wrote:

Not necessarily. You don't have to wait until you own it free and clear
to recover your money. I resold my first house 10 years after I bought
it and got back every penny in taxes, principal, interest, and maintenance
I had ever put into it. ...And then some.


Maybe so (calculation of ROI on a house can be pretty complex), but I
hope folks realize this is not something to expect, given the
long-term history of housing prices...


long term? values have risen. short term? values have risen
astronomically. in fact, i think theyre probably peaking right now. less
than a mile from me, a 3 bedroom in a "brady bunch" looking neighborhood
is on the market for $750k. thats three quarters of a friggin million
bucks.

that would likely take a combined income of $225k/yr to afford. so after
all the doctors, lawyers, and nurses have bought their homes, whats
left? who can afford these places?