LA Times: This Orange County city has the hottest housing market in the country

[potsticker]

Article published on Irvine in the LA Times this week. Subscriber-only link: https://www.latimes.com/homeless-housing/story/2024-08-16/the-nations-hottest-housing-market-irvine

If you aren't a subscriber, you can read the article here: https://archive.ph/XmIcS

 

[sleepy5136]

There are concerning financial mistakes that makes me quite concerned about the average American with that article.

1. Selling the home after one year instead of waiting for the two year mark. Now she has to pay capital gains taxes on the sale.
2. Putting her profits in a savings account and not investing it instead in the market. Something like an S&P500

It's concerning how someone with the ability to buy in Irvine lacks financial literacy but it's also not a surprise either as personal finance isn't required to graduate from school.