People who bought homes in Oakland at the turn of the decade are sitting on goldmines. Sellers who bought their homes between seven and nine years ago in the city have made up to $235,000 in profit, for a 78 percent return on investment.
Oakland sellers have the highest return on investment in the nation, according to MarketWatch, topping Portland (65 percent), San Jose (57 percent), and Denver (56 percent).
Nationally, homeowners who have lived in their homes for 7.5 years have gained $40,000 on their investments, which comes out to 24 percent more than what they originally paid. Other good cities for sellers include New Orleans, Boston, and Philadelphia.
“Every city on this list has been growing extremely fast over the past decade, with the majority passing peak home value hit during the housing bubble,” said Zillow chief economist. Svenja Gudell.
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