Thread: Poop Country Club Plaza = Bannister Mall part 2?
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Old 02-24-2014, 02:30 PM   #143
scho63 scho63 is offline
Politically Incorrect
 
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Join Date: Feb 2009
Location: Scottsdale, AZ
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Quote:
Originally Posted by mr. tegu View Post
It must suck spending 500K on a 1,500 square foot house.
It's all relative.

If you buy a house for $200,000 and it goes up 25% before you sell it you make $50,000

If you buy a house for $500,000 and it goes up the same 25% you make $125,000

With rates so low and the market here so strong, it's worked out very well.

Rather an expensive house in a strong market in an affluent area then a cheap shitbox in a weak market in a so-so area...LOCATION, LOCATION, LOCATION

Ask all the people who bought in San Francisco within the last 5-6 years how much they are making and it's a boatload. Just takes a lot of clams to get into the game in California
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