Thursday, June 09, 2005

New Math: Sell One, Buy Two

How do they do it? Here's how: A couple in San Jose, CA sold their house, bought in 1980 for $300,000, for about $1.4 million. With the proceeds they bought a custom 5,200-square-foot house in Park City, Utah, for $700,000 and a Tuscan-style house with a guest casita near Chandler, Ariz., for $400,000. NY Times's Motoko Rich quotes owners in today's paper as saying their "retirement has beentransformed by the real estate boom."

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