Quote:
Originally Posted by vintageogauge
And you lose the possibility of appreciation which has been quite significant down here.
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For some, their bank account, which includes the proceeds from the sale of their large home, is appreciating faster because of high interest rates. Home prices are moving the opposite. Downward!
Which would you prefer? $800,000 proceeds from sale of prior home collecting an easy 5% or more? Or, paying cash for a home with no guaranteed return on investment? There is no sign of home prices moving upward anytime soon. Most likely it will continue to move downward.
In the meantime, I think it is clever that some are choosing to rent and relying on social security and pensions to foot the bill. They are not losing a dime of their savings. Instead, it is earning income.