On Thu, 24 Aug 2006, Shel Belinkoff wrote: > A couple of friends recently sold their home in Berkeley. They got > $1,850,000 for it. During the time their house was for sale the market > softened, and they didn't get the $2,100,000 they were asking for it. John > complained that he lost $250,000. I asked how much he paid for the house, > about five years ago. He said $825,000. Hmmm - seems to me he made more > than a million on the deal, but he could only see the "loss."
And that excludes the use of the home in that period. However, one needs to also take into account what they are puttinng the money towards. While one may make 100K on the sale of a house, this can be cancelled by the respective rise in the target-home price (esp if, like in the UK, the rise causes the purchase price to attract higher duty rates). Horses for courses. Kostas -- PDML Pentax-Discuss Mail List PDML@pdml.net http://pdml.net/mailman/listinfo/pdml_pdml.net
