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I did indirectly. I had always rented and didn't think I would qualify for a home, but I moved to a more affordable area about 150 miles from where I lived and I got lucky to buy a home right before prices shot up and I found a starter home in decent shape and in three years it has doubled in price.
My profit wasn't monetary as much as being able to afford a home because prices had dropped after the housing crash and being able to get in before prices shot up around here.
Of course. Everyone in a similar situation as you benefited, or profited if they later sold at a higher price. I'd think it would be common sense to know that when prices fall it benefits those who are buying at these lower prices. I did the same when I bought my first place at a low point in the local market and later sold for 3.5 times what I paid for it.
We bought a house in Eugene, Oregon in the late 90's for $94K. Kind of a starter home. We sold it in 2006 for $194K. We bought another small house with acreage in 2006 for $132K. We did a lot of work to it and it's worth about $235K. We don't plan on selling it, but it's one of the nicer looking houses in our neighborhood. I may be a little biased.
we had a home in PA. that never really went up in the boom so the pocono area never fell . in fact the prices fell later on and 10 years later were worth less then in 2008 ..
we live in nyc and prices never really fell much in 2008/2009 in resi real estate .. we sold two high end co-ops in 2009 for just 10% lower then the all time high ..
pretty much the money in real estate we made was deal dependent not based on the collapse ... the money we made in equities was based much more on the collapse of things
Brought a foreclose fixer upper in 2009. I was 23 and did not even understand real estate market but my dad lost his job and I had some money saved from my first job. Took a leap of faith & my dad doing most of the fixing up. Have been renting that place for last 10 years. The deal I have with my dad is, he takes rental money and I keep the house when we sell it. The house is worth more than double our initial investment, not counting rental.
Purchased my own house in 2015 and that has gone up some. Not as significant but I am glad I brought it back then. Now I want to add another rental investment to my portfolio but not sure if price will drop in next few years or not
Everyone who sold in the 2006/7 time frame and/or bought between 2009-2011+ has likely profited in most parts of the U.S. -- Housing has long been a reliably appreciable 'investment'; while the 2007/8 bubble (burst) is an anomaly.
We got out of two condos in the 2007-8 time frame (after things started down, yet, still came-out ahead. We then bought a place for about $380K in 2010 (which sold for $800K several years earlier) - The current market for our place is $650K+, so I guess you could say we are in a profitable position, even though we haven't sold yet.
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