BabyBoomer50s
Capitalist
- Joined
- Nov 27, 2018
- Posts
- 13,863
True. Those of us who bought homes in California metro areas 20-30 years ago have done well. Our property taxes have been protected by Prop 13, our mortgages are paid off, and we don’t need to sell our houses to finance our retirement lifestyle. We can hold our assets and pass them on to our kids, tax free.The main characteristic of real estate in US cities is that its value has appreciated enormously over the last 20 years.
Obviously you want to avoid those gains, stable genius.![]()
On the other hand, if you’re a first time home buyer, and you buy a house in a major metropolitan area, you really should be staying away from the city limits of major cities. Unless of course you want to pay endless add on parcel taxes, watch zoning laws allow your neighbors to convert their property to multi family housing projects, find out you can’t replace your gas appliances, and be subject to a myriad of other things that undermine the suburban lifestyle you dreamed of.