Guilty, as charged. Yes, I find myself a bit disgruntled. I sold my home a year and half ago, and have been renting ever since, waiting, and watching, reading Piggington, waiting, watching, and did I mention, reading Piggington. Reading the posts on Piggington made me feel like a friggin’ genious, but reality paints a slightly different truth. The home I sold continued to rise in value, and is currently worth about 600K more than when I sold. Other homes in my area have also gone up in value during this time period. I shop around in OC, thinking my area is just a fluke, and find sales brisk in new developments, with lots of sold stickers on the tract maps, and the most desireable lots gone. Prices are still at outrageous levels and if they have gone down any, it’s like Alex says, just a pittance. There just seems to be too much money here in So. Cal. for the ship to sink. So I sit here in my dumpy 2500 sq. ft. rental after moving out of my 7400 sq. ft. home that would now cost me 600K more to just buy it back, calculating that I’ve spent about 50K in rent so far for this privilege. To be honest, it just doesn’t feel right. All my life I’ve been a homeowner, until now. But you know what? Piggington people are right. Even a broken clock is right twice a day. I just hope I’m still alive to benefit when the inevitable decline really comes.
