Congratulations, Scott! Enjoy your new home!
To those who think CA real estate is too expensive, or who think that high home prices are a reason for not living here, consider this:
In coastal California, a home is not just a place to live. It's also an investment. For millions of Californians over the past hundred years, homes have provided excellent returns on investment.
Example: I paid $184,000 for my house nine years ago. 1550 sq. ft., .2 acres, peek ocean view; typical CA suburban house. It is now worth about $675,000. This is not unusual here.
The low home prices in Texas and Indiana sound great. But keep in mind that the value of a $150k house in El Paso or Muncie may barely keep up with the general rate of inflation.
In coastal CA, the price of a home includes a world-class investment opportunity. Better yet, the investment is very nicely subsidized by the federal tax deduction for mortgage interest.
