this post was submitted on 18 Oct 2024
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The seller. 150k now is worth more than 150k in 5 years in the normal course of things.
The seller though usually turns around and spends all that money on a bigger place, taking out a larger mortgage with greater interest payments.
So realistically the only entity profiting from rising house prices are banks and real estate agents.
Sellers feel richer, but then turn around and pay all that money to a bank and real estate agents.