If you still owned it, what would your overall return on investment be (assuming that you put 10% down in 1988)?
I bought a condo in Irvine in 1989 for $252,900. The interest rate was 9.75%.
I imagine that the same place would have sold for $600,000 in 2005, probably $500,000 today. If I had put down $25,290 in 1989 and sold it today, I would have made approx. $325,000 ($300,000 net) on my $25,900 investment (after paying off 18 years of the mortgage). That is approx. 12x my money after going through a horrible slump (1990 to 1996) and a boom (1997-2005) and another 2 year slump.
How did an investment in gold do during that time?
