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Personal Finance and Investing

yorkster

(3,431 posts)

11. In certain parts if the country, downsizing

Reply to MichMan (Reply #2)

Mon Sep 22, 2025, 06:19 PM

Sep 22

to a condo or 2bdrm costs same or more than you can get for your current home.
For many their home is most of their equity. So, the result is stasis. Also, in many cases mortgages are paid off at closing, deducted from the profit of course.
For many who want to go smaller, it may be the last time they have a choice about where they live. Potentially the final sale of their major asset. The next step may be renting or "the Home".
Who knows...or you stay put if you can and do repairs and upgrades as funds permit and eventually move on and out.

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Highlight:

Boomer Dad Paid $25K for His First Home in 1980. Now Admits To His Kids, 'This Isn't Just Expensive...It's Impossible. [View all] question everything Sep 22 OP

This is the Proof roscoeroscoe Sep 22 #1

Should have A 50% tax on home profits MichMan Sep 22 #2

Yeah, can see our midterm candidates running on that platform, and getting trounced. Silent Type Sep 22 #4

How about the wealthy just pay their share. dem4decades Sep 22 #5

In certain parts if the country, downsizing yorkster Sep 22 #11

I wish houses had remained same size as our first one in 1952. 800 sq ft, 1 bath, 2 bedrooms. Silent Type Sep 22 #3

Houses moved from being a place to live and raise a family to investment, to an asset to flip question everything Sep 22 #6

Having grown up in a 3 bedroom, 1 bath house that's not ideal. dem4decades Sep 22 #7

My dad smoked in bathroom too, hated going in there. Of course in a small home, everything stunk. Silent Type Sep 22 #8

Driving around in the 65 Chevy wasn't pleasant either, especially winter, windows up, smoke in. dem4decades Sep 22 #9

This message was self-deleted by its author Mosby Sep 22 #10