I had a call with my classmate to discussed the real estate & financial management, recently, real estate is really hot,the house price increased in a surprising rate!
About 5 years ago, we bought a house at the same time. I bought one house in WH while he bought one in a small town nearby SZ, at that time, he really admire my choice, although my house is smaller than his. 5 year later, situation changed.
The price of my house almost keep no change, but the price of my classmate’s house was increased by 3 times!! Which means I lost 1 million by this wrong choice.
I felt depressed after this call, but later, I realized my mistake, I did no analyze the economic situation before I bought the house, I bought my house in a stable area which will not bring benefit in short time. Just like stock marketing, if you choose one inactive stock, the only thing you can do is to keep it for long time.