In my country, the housing market is down. House values have dropped in some places up to 20% since end of 2021. People talk about how it doesn’t matter when upgrading a house as homeowners would be selling and buying in the same market. ELI5?
In: Economics
if you buy a house in 2000 worth 100k and sell in 2024 at 500k………you made 5x the money (without including repairs/insurance/interest payments)
you are now homeless
all other homes have appreciated…..so you can buy a house for 500k
are you better off??? no your house went up, and so did every other house
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