Houses generally appreciate, huh? Here’s a little anecdote from my own family. My father purchased his dream home in Texas in 1986 for $300K. It was a big, beautiful home in a quiet country setting, good school district, pool, custom fixtures. Nice house in a neighborhood of even nicer homes. He passed away a couple of years ago (2004) and my stepmom had to sell the place. It sold for $280K. That’s a HUGE loss when adjusted for inflation. Also, he had put tens of thousands into the place for landscaping, updates, etc… But of course that’s Texas, right? California homes are different, aren’t they?
