On 2016-01-17 3:05 AM, Je�us wrote:

>> I sold my house in Perth in 1975 for about $50k. It sold last year for
>> $3.4million.
>> Graham
>
> $50K was a lot for a house in Aus back in 1975 too.
> Had you kept it, you'd have had to have waited 'only' 40 years to
> become a multi-millionaire from your investment
>


Back then you could probably turn around and buy another house of
similar for $50K. If he held onto it and sold it for $3.4 million he
would probably have to pay $3.4 million for a replacement. It works out
about the same.

These days there are a lot of boomers who are selling their houses in
the city, buying nice new houses in towns away from the city for a
fraction of that price and pocketing a lot of cash.