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Friday, June 04, 2010

Sacramento - Fallen on Hard Times

I grew up in Sacramento, so I'm always a little fascinated by its ups and downs. The one thing I've noticed over a few cycles is that Sacramento tends to trail the Bay Area market on housing price increases, but once it starts catching up, it goes completely wild for a few years. When they inevitable crash comes, it hits Sacramento far harder than the bay.

We're right there right now. It's playing out in the usual way - crashing housing prices and closing businesses. It's also translating to lots of friends in financial pickles.

And there's a quiet part of me that still wishes I could've convinced my mom to sell a couple years ago, rent for a couple years, and buy again now. The crash was easy to see coming for folks who'd lived there a while, and she could have made an awfully nice retirement nest egg. Oh well.

1 Comments:

  • We've been very lucky. We bought two years ago and our house has increased in value BEFORE you take the remodel into account. If we can help it there will be no moving for us any time soon.

    By Blogger misterjustin, at 2:25 PM  

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