Quote:
Originally Posted by C. C. Rider
Just doing some "back of the envelope" calculations, that doesn't sound very profitable to me. It seems to me that a brand-new house of the same size and quality would have to increase in price about 16% to 18% per year just to break even on the deal... not counting anything for your time involved. Making a profit on the deal would require an even greater price increase year-over-year.
I know that housing is becoming more expensive every year, but is it actually increasing at 25% or more per year which is what I figure it would take to make it worthwhile?
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Real estate comes and goes. Fortunately for some, it has stayed good. Do recall drastic drop in and around 2008.