Real Estate

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Katydid April 23, 2014 at 09:17 am
I have owned 4 homes in the last 30 years, and rented various times before owning, and betweenRead More houses. I made money on 1 in the past, and might on the house I am in now. After I sell the house I'm in now, I will rent. Sure, you can make money on a house, and you can lose your shirt. The article states long-term investment in real estate can be profitable. Yes, if I bought a house in Santa Barbara in 1975, I would make a nice profit, if I sold it tomorrow. People rarely stay in homes as long as they did in the past. Many areas have roller-coaster economies, and can't be relied upon for increases in real estate values. In my current home I have replaced the A/C, water heater, roof, carpet, and pool fence. Maintenance in the last 11 years would be in the many thousands. If I would have needed to sell 5 years ago, I would have had to foreclose. Sure, real estate is an investment. Just don't consider it a guaranteed money-maker - maybe more like gambling?