Exactly. I roll my eyes at the idiot home owners who are happy when real estate prices are going up. If the only real estate you own is the one your are living in, a price increase has zero benefits for you. You can sell it for a higher price, but unless you want to live on the streets, that means you buy another, which has also gone up in price. Congrats, I guess.
The only people benefiting are real estate investors, which 99% of people are not.
Now there are opportunities to get better interest rates by taking a loan out on your house, but that’s depressing. It is, however, a common thing for older people who can’t live on their retirement benefits otherwise.
Exactly. I roll my eyes at the idiot home owners who are happy when real estate prices are going up. If the only real estate you own is the one your are living in, a price increase has zero benefits for you. You can sell it for a higher price, but unless you want to live on the streets, that means you buy another, which has also gone up in price. Congrats, I guess.
The only people benefiting are real estate investors, which 99% of people are not.
It mostly just means higher property tax.
Now there are opportunities to get better interest rates by taking a loan out on your house, but that’s depressing. It is, however, a common thing for older people who can’t live on their retirement benefits otherwise.