[quote=UCGal]
My dad had the opportunity to buy an oceanfront lot, on the boardwalk, in Mission Beach – down near the jetty – for $25k in 1965. He thought it was too expensive since he’d have to build a house. He regretted that for the rest of his life.
Instead he bought a foreclosure for $29k in UC. It was less than 18 months old, he assumed the first mortgage (no down payment) and the bank wrote off the 2nd that the previous owners had taken out to put in a pool, etc. It was a great deal. BTW – I bought it from him at market value in 2003 – for $600k. Not quite as screamin’ a deal.[/quote]
I wonder if 45 years from now, people looking back to today will say, “wow, I can’t believe houses were only $500k back then”. Just like what we say about houses 45 years ago “wow, I can’t believe houses were only $25k back then”.
