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Adios New Jersey
- Thread starter njlefty
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https://www.untracht.com/news-insig...ew Jersey,selling price – whichever is higher.
NJ definitely has it's problem with taxes, but this will be a helpful article for those interested.
NJ definitely has it's problem with taxes, but this will be a helpful article for those interested.
Damn dude. Lemme ask u this. How much did u buy your home for and how much did u sell it for?
My parents told me when i bought my house to look at the house like a bank you are putting in and will cash out. They paid $80k for their home ita worth $750k now.
Their second home in Florida has slowly gone up. Bought at about $300 k 10 yrs ago it's at $350 today. Pops told me homes increased so much in East coast. Lotta ppl that are his age or slightly younger did well.
My parents told me when i bought my house to look at the house like a bank you are putting in and will cash out. They paid $80k for their home ita worth $750k now.
Their second home in Florida has slowly gone up. Bought at about $300 k 10 yrs ago it's at $350 today. Pops told me homes increased so much in East coast. Lotta ppl that are his age or slightly younger did well.
In most cases the stock market has materially outperformed residential real estate. The appreciation on the Florida home you cited is about 1.2% per annum. And that doesn't even count all of the cash flow to maintain the property such as various maintenance expenditures, taxes etc.
In the first example you cited let's assume that's over 30 years. An S&P fund would have tripled that return during that period. Once again you have to factor in all of the expenses to maintain the home. No doubt a home certainly provides utility by providing shelter etc but the economic return is often not as great as it appears. Not to mention that residential real estate over the last 10+ years has gone nowhere in a hurry for most parts of the US.
In the first example you cited let's assume that's over 30 years. An S&P fund would have tripled that return during that period. Once again you have to factor in all of the expenses to maintain the home. No doubt a home certainly provides utility by providing shelter etc but the economic return is often not as great as it appears. Not to mention that residential real estate over the last 10+ years has gone nowhere in a hurry for most parts of the US.
I had to move a lot of times for work, and saw situations when the housing market went up quickly, and when it wend down quickly. Never seemed to be on the "good" side of it when I had to sell/move. The one that hurt was 2 yrs in California, right out of school with no $$ to put into a home. The house I looked at but couldn't afford went from $30K when I got there to $180K two years later. Oh well. At least I later escaped Tampa with only a 20K loss when my other military neighbors were taking much bigger blood baths.
Nah you are absolutely right. I have a friend who doesnt even own he rents got a good rate and just invest everything in stock market. He says he can double his money in a few yrs. Whereas real estate you are talking decades.
However NY, NJ have appreciated very fast past 25 yrs or so. Compared to most of the country.
However NY, NJ have appreciated very fast past 25 yrs or so. Compared to most of the country.
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