California costs too much! Let's compare it to Texas

[FakeNoose]

26. My friend, the rapid increase in property values will not continue on the same pace

Mark my words. We had an exceptional growth spurt in the last several years but it will not continue forever. Our population increases slowed down considerably to the point of almost leveling off (due to adjusted birthrates) about 10 years ago. Yes there is still pop. increase but mainly due to immigration, and even that rate has been inconstant. In about ~20 years we'll be reaching the time where the people looking to sell their houses will be a higher number than people looking to buy houses.

I'm not a fear-monger and I believe it will all be OK in the end. BUT some people who are over-investing now because they think they're going to kill it will end up being disappointed. It's really hard to predict beyond the next 20 years. So our buy/sell decisions should be made in a 10-year time-frame, nothing beyond that.

I'm saying this, and yet I've owned my own home for over 25 years. I don't have plans to sell in the near future even though my property value has more than doubled since I bought my house. I'm 71 years old now, and I don't know if I'll still be around in another 10 years. If I am, I probably won't be living in this house. But we'll see.

The homeowning advice we give our children needs to encompass a future reality, and maybe we're not part of that.