I think people felt like they deserved to be millionaires when their 3br 2ba 1500sq ft house went from $400,000 to $1,000,000 in value, as if they earned it. They didn’t do anything!!
Not quite true. They saved up money for a downpayment, they cleared their finances, they maintained good credit, and were fiscally responsible. They were also able to maintain the payments, property taxes, and utilities. They had the foresight to buy a property when they did, when others were telling them otherwise.
Their timing may have been good, but you shouldn’t minimize the hard work they did.
Disclaimer: the above is not a justification for higher prices.
