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Reply #6: My mom's house value (in Arizona) went through the roof [View All]

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Horse with no Name Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-20-06 01:02 PM
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6. My mom's house value (in Arizona) went through the roof
She could have made a triplefold profit.
But she is smart enough to realize that she would have just had to pay an overinflated price for another house and sink herself into some serious debt.
It was phony inflation. Smart people held on to what they had. Greedy people tried to overbuy.
I would imagine that the 1400 sq. house that many traded up to a McMansion is probably looking pretty damn good to them by now.
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