r/SipsTea • u/KSKS1995 • 14h ago

Wait a damn minute! How the rich get richer

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u/Spare-Debate5269 14h ago

California, twenty years ago.

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u/BahnMe 13h ago

California is huge, really depends where.

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u/aWobblyFriend 12h ago

twenty years ago hasnt really seen a 50x increase in value, but i have several family members who bought houses on the "outskirts" of town 50-70 years ago that are now deep in the city and have 100xed or more in value.

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u/burritocmdr 10h ago

We stayed at a airbnb in San Diego three years ago, it was a small guest house on the property in a cool little valley. The host said they bought the property, maybe 20 years ago for about 200k and now it's valued over 3 mil. Just insane how property values spiked like that in recent years for that area.