[quote=flyer]…What I meant was, because of when they came into the market, by virtue of their age, most younger buyers did/do not have the option of buying properties like my MIL’s home for $70K many years ago, which is now valued at $2M+–and that’s just one of the many properties in this category in the family.
I was just pointing out how much things have changed with regard to real estate values in San Diego over the years…[/quote]
flyer, your MIL was no doubt of the WWII “Silent” or “Greatest Generation.” YOU, a “boomer” could not buy that property for $70K, not even during your “prime” buying years.
If we’re going to discuss those earlier generations, they actually had it much harder than “boomers” in many ways and you must admit that ~70 years ago, SD wasn’t the city it is now. Thus, its properties weren’t worth anywhere near what they are now.
By chance, flyer is the home/land your MIL paid ~$70K for (in the thirties/forties?) the same home today that is presumably worth $2M? Or did she have it built/enlarged herself?
