Secret #51 – High House Prices Don’t Help Current Home Owners Much Unless They're Last-Home Sellers
To cash out on high house prices, owners would have to sell their current house and start renting.
Of course, current home owners often feel good about skyrocketing house prices, that is, until they have to buy their next house. They may make a ton of money on the house they’re selling but they have to pay a ton more for the house they’re buying. Crazy high prices don't help you when you’re buying and selling at the same time.
Higher house prices are a wash for most current home owners, except for older owners selling their last house (and for landlords who can sell without becoming homeless).
Higher house prices, however, hurt ALL future first-home buyers, young and old.