House Millionaires
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wrote on 23 Feb 2022, 18:26 last edited by
The number of "million-dollar cities" with home listing values exceeding an average of $1 million has tripled since 2020, ...
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With the average price of a home up 19.6% last year, according to Zillow, 146 new "million-dollar cities" were added in 2021 … bringing the total number to a new record of 481.So … does every one who owns a house feel flush these days?
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wrote on 23 Feb 2022, 20:09 last edited by
If most of your net worth is in your home, you aren't wealthy. You can sell your home, but then, you have no home.
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wrote on 23 Feb 2022, 20:14 last edited by
The trick is to live somewhere really expensive, then move somewhere really cheap.
But then you live somewhere really cheap.
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The trick is to live somewhere really expensive, then move somewhere really cheap.
But then you live somewhere really cheap.
wrote on 23 Feb 2022, 20:17 last edited by@Doctor-Phibes said in House Millionaires:
The trick is to live somewhere really expensive, then move somewhere really cheap.
But then you live somewhere really cheap.
Yeah.
The most effective use of "house millionaire" wealth is to pass it on to one's heirs, I suppose.
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The trick is to live somewhere really expensive, then move somewhere really cheap.
But then you live somewhere really cheap.
wrote on 23 Feb 2022, 21:32 last edited by@Doctor-Phibes said in House Millionaires:
The trick is to live somewhere really expensive, then move somewhere really cheap.
But then you live somewhere really cheap.
I’m planning on moving back to Western PA for at least some of my retirement. https://www.zillow.com/homedetails/5680-Saltsburg-Rd-Murrysville-PA-15668/10683340_zpid/
30 minutes to skiing, 30 minutes to an incredible orchestra, 5 minutes to fishing on the river…
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wrote on 23 Feb 2022, 21:41 last edited by
Hub airport (well it used to be - not sure about now), beautiful city, closer to me....
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wrote on 23 Feb 2022, 21:43 last edited by
But seriously, our house has gone up dramatically. But if I sell, I just have to buy somewhere else. No gain.
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wrote on 23 Feb 2022, 21:59 last edited by
I went from expensive to cheap, similar house, half the price.
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wrote on 23 Feb 2022, 22:08 last edited by
@Copper said in House Millionaires:
I went from expensive to cheap, similar house, half the price.
I see it as part of retirement as well. I can move to a lower cost of living place when I'm older.
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wrote on 23 Feb 2022, 22:59 last edited by
My son has been in his home less than 5 years. He could make $200K on it, easy.
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wrote on 23 Feb 2022, 23:59 last edited by
@Copper said in House Millionaires:
I went from expensive to cheap, similar house, half the price.
You went from DC Metro to the VA Peninsula…
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wrote on 24 Feb 2022, 00:03 last edited by
@Jolly said in House Millionaires:
My son has been in his home less than 5 years. He could make $200K on it, easy.
We bought 6 years ago. The current value is 150% what we paid.
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@Copper said in House Millionaires:
I went from expensive to cheap, similar house, half the price.
You went from DC Metro to the VA Peninsula…
wrote on 24 Feb 2022, 02:04 last edited by@LuFins-Dad said in House Millionaires:
@Copper said in House Millionaires:
I went from expensive to cheap, similar house, half the price.
You went from DC Metro to the VA Peninsula…
Cheap
And NO TRAFFIC!
Woo-Hoo!