"Harry.Krause" wrote in message
...
SoFarrell wrote:
"Bill McKee" wrote in message
ink.net...

"NOYB" wrote in message
thlink.net...

"Bill McKee" wrote in message
rthlink.net...

Atherton does not have a bare lot under 2 million. Wifes cousin died.
Her little 2 bedroom house on a lot in Los Altos, next to Atherton sold
for 1.1 million. The house is a tear down.

http://www.almanacnews.com/morgue/20...6.alarry.shtml


This story is 3 years old. Prices have nearly doubled since then.


What do you think Larry's house would sell for today? $50mm?


You guys aren't talking about the bass tourneyment ratings, are you?
House prices? Hope my area stays in the bottom 150, so I can afford to
liv ehere.


You're got the right attitude. Better to live in a decent area where the
prices aren't going through the roof.

Bullpoop. If you're in the early years of your career (aka--debt
acquisition years), it's better if your home is appreciating rapidly so that
you can consolidate the debt into something that appreciates rather than
depreciates, *and* offers a tax write-off of the interest.

If you're close to retirement, and your home is paid off, rapid appreciation
is even more important. It increases your net worth (good for your kids
when you die), and it provides an appreciating asset that you can draw funds
from (in the form of a reverse mortgage).

Unless you're new to a market and can't afford the hyperinflated prices,
*or* you live in an area that doesn't cap the yearly growth in property
taxes, there really isn't anything bad about rapid home appreciation.