Comment by red-iron-pine
2 days ago
in 2025 anything vaguely desirable in a coastal-ish city is starting at more like 600-700k. actual decent houses will be 1MM or more.
the folks in those areas, if you owned a house for the last 20 years, are now richer than ever due to that property appreciating. but the younger generation is absolutely screwed
> if you owned a house for the last 20 years, are now richer than ever due to that property appreciating.
Only if you sell it, and move somewhere with a much lower cost of housing.
If there is a spare bedroom in your HCOL location, renting that out lets you get some incoming cash flow without having to move away to a LCOL location.
You don't get "rich" from renting out a spare bedroom.
HELOC and never pay it off until you die
The north coast has cheap housing.