Comment by SamuelAdams
9 hours ago
> I would like the price of my home to rise, because it increases my wealth, but I would also like the prices of all other homes to fall, so that I could sell my house and buy an even nicer house.
There’s a way to do this. Buy in a VHCOL area like San Francisco, wait for 3-10 years, then move to Texas, Florida, South Carolina, etc. Real estate is highly localized so you do not need to stay in the same area all the time.
The homelab guy at CloudFlare did this because the prices of real estate in Austin are actually falling.
I wouldn’t count somewhere I don’t want to live being cheaper as the prices of all other homes falling… ;) Nor as lack of need to stay either - if real estate prices were the only thing keeping people around, cities might not exist.
> Buy in a VHCOL area like San Francisco
How does this work? VHCOL does not mean that prices will appreciate or even sustain.
SF history very much indicates that prices will continue to appreciate and sustain pretty comfortably.
I mean yes it’s a bet, but real estate in SF has historically done very well. The progressives/NIMBYs have a strong presence to thwart new housing so that existing properties increase in value.
ATX real estate is still in free fall. You can win making a move within the state at this point.
Just dont complain about loss of relationships and community while also advocating for policies that make lasting community ties impossible.