I owned my first house for 19 years, which was purchased in the fall of 2006. We sold it for the exact same price as we paid for it, and barely came out ahead. I know it was poor timing, but the idea of leaving a home and using it as part of your retirement income is a lie. The banks are laughing all the way to the bank.
Poor timing? You bought at the absolute peak of something known as The United States Housing Bubble. Your experience is not typical. You’re one of the unlucky people who had the absolute worst timing possible.
The idea of using a home as part of your retirement should be a lie, but unfortunately for the vast majority of people it isn’t. The world would be much better off if people only got what they paid back when they sold their houses. But, the reality is that most people have been absurdly lucky and their homes have been going up faster than all but the best stocks on the stock market. You just happened to be someone who jumped on the ride at exactly the wrong time.
Median home prices peaked at $216,000 in August 2006. The lowest they’ve been in 2025 is $414,000. You had some absolutely atrocious luck. You buy in Detroit or something?
Because for the first lot of years you are paying basically 0 principal
I owned my first house for 19 years, which was purchased in the fall of 2006. We sold it for the exact same price as we paid for it, and barely came out ahead. I know it was poor timing, but the idea of leaving a home and using it as part of your retirement income is a lie. The banks are laughing all the way to the bank.
Poor timing? You bought at the absolute peak of something known as The United States Housing Bubble. Your experience is not typical. You’re one of the unlucky people who had the absolute worst timing possible.
The idea of using a home as part of your retirement should be a lie, but unfortunately for the vast majority of people it isn’t. The world would be much better off if people only got what they paid back when they sold their houses. But, the reality is that most people have been absurdly lucky and their homes have been going up faster than all but the best stocks on the stock market. You just happened to be someone who jumped on the ride at exactly the wrong time.
Median home prices peaked at $216,000 in August 2006. The lowest they’ve been in 2025 is $414,000. You had some absolutely atrocious luck. You buy in Detroit or something?
Source: https://dqydj.com/historical-home-prices/