Can we say welcome to bubble world? The property went up $62,000+ each year for 7 years. Slightly below the median family income; no need for work when your home makes that much each year.
http://drhousingbubble.blogspot.com
Posted by Muzie on 01/31/07 at 09:55 AM
225k is a pretty decent downpayment. Maybe those people actually planned to live in the house and it didn’t work out? Doesn’t look like the typical 0% down flip. ——-
I rented a Darlington 2/2 unit back in 2002. That stupid condo made more money in appreciation that year that I made in wages.
At the time, my employment prospects were shaky. Had I known that I could’ve lied my a__ off on the mortgage paperwork, I could’ve snapped it up and enjoyed another $200k in appreciation.
Instead, I let that ticket to wealth slip through my fingers. Now I’m living in a tent city. And a Honda. :-(
Posted by DrHousingBubble on 01/31/07 at 10:39 AM
5/25/2005: $625,000
5/17/2001: $310,000
6/30/1998: $190,500
Can we say welcome to bubble world? The property went up $62,000+ each year for 7 years. Slightly below the median family income; no need for work when your home makes that much each year.
http://drhousingbubble.blogspot.com
Posted by Muzie on 01/31/07 at 09:55 AM
225k is a pretty decent downpayment. Maybe those people actually planned to live in the house and it didn’t work out? Doesn’t look like the typical 0% down flip.
——-
Posted by oc_fliptrack on 01/31/07 at 05:13 PM
I rented a Darlington 2/2 unit back in 2002. That stupid condo made more money in appreciation that year that I made in wages.
At the time, my employment prospects were shaky. Had I known that I could’ve lied my a__ off on the mortgage paperwork, I could’ve snapped it up and enjoyed another $200k in appreciation.
Instead, I let that ticket to wealth slip through my fingers. Now I’m living in a tent city. And a Honda. :-(