“How can you live there? It’s 68° and sunny here!”
Then I open up this morning’s business section of the Kansas City Star and see an article showing that the most recent study of California real estate is that prices are down 15.2% from last spring/summer’s highs. My question to them is;
“How can you live there? Prices are stable here!”
And, we don’t get earthquakes, unimaginable crime, traffic at 10:00 pm, etc.
We all live where we live and have advantages over other parts of the country. Though you will ALWAYS hear me complain about the cold I have to say I like the change in seasons. Well, except for the whole raking leaves thing.
But from an investment property owner’s standpoint, there is no question that there is a stark difference between owning income property here in Kansas City or anywhere in the SoCal area.
Kansas City’s advantage: Stability and affordability. Slow and steady growth. It’s not sexy. But neither is KC.
SoCal’s advantage: At times, spiraling appreciation that can make you wealthy beyond your dreams. But if you don’t time it right…look out! And just try to make the numbers work.
Do what you are gonna do. If I can help great. But just know each area has it’s pluses. 🙂