On Sun, 17 Jan 2016 10:17:23 -0500, Dave Smith
> wrote:

>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.

That is common here as well.