I consider myself blessed to own a house in one of the United States' most lucrative part of the country in terms of real estate. We bought our house in September 2001, a few weeks after 9-11. The economy dropped to a deep slumber then, and builders are practically begging for people to buy houses. We got a great deal out of it because ours is what you call a model home.
A couple and a half years forward, the prices of houses around this area is just staggering! Who would've thought that a far away suburb would fetch that high a price in the market?! Houses around us are selling for high $600s to $700s! I don't even think that if I hadn't decided to buy a house then, I'd be able to even afford to live here now. It's truly a great investment.
I took Principles of Real Estate class at a community college a year ago, and our teacher said that it is only in California that values of real estate increase by the hour almost. I tend to believe him, seeing how the value of this house has appraised now. Even our tax accountant has discouraged us to invest in anything else but real estate. Unfortunately, very few places around here exist where properties are still affordable. Mostly they're waaay out in a far-away land.
Home is where the heart is. In California, home is where the buck is.... :)
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