Quote:
Originally Posted by Vendzilla
I agree with you, I saw the value of my house triple and knew that was going to last
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I have a friend that in 2005 bought a house for $375K. It was a brand new house in a new development (all McMansions) The yard was not done. He moved in and in the first month he put up a fence and put in a yard. He spent about $3K doing both. A month after that he was offered $460K for the house. He decided not to sell because he figured it would keep going up and up and up.
2 years later it was worth about $290k and due to a divorce he was forced to short sell it.
The housing market went crazy and it was crazy how many people thought it would never end.