What are you talking about? Of course it's gain. It's $280,000 more dollars that you have in your pocket before you started.
Not the part that is due to inflation. It is no gain at all.
Stebben84 wrote:Also, none of this takes into account remodeling, changes in the neighborhood, changes in the city, or a host of other issues.
Quite so. It was PJ who seemed to say that it was all due to inflation. I said "a large part but not all" may be due to inflation. There are definitely other factors involved as you point out.
Stebben84 wrote:One could argue that anything appreciating over time(sports memorabilia, antiques, art, etc.) is only gaining because of inflation. That would be stupid.
would it be stupid? Some portion of the apparent gain in these things, though probably not all, is due to inflation. Same concept applies. Why should one pay taxes on inflation?
Stebben84 wrote:Or course, John, you could tell us about some class you took, or seminar, or some book that makes you an apparent expert on everything. I believe you think you're a lot smarter than you really are.
Actually I am one of the guys that leads the seminars and writes the books. I've been studying, teaching, doing, writing on this stuff since the mid 70's. I've been teaching business finance, macro, micro and managerial economics (in addition to other courses) continuously since 1982.
My resume is online and surely someone as smart as you can find it. If you want a more detailed CV, just ask and I'll email it.
Now, since you asked and I answered about my qualifications to discuss these things, what about yours?
Where does your knowledge come from, Nemo?
14:27 edited to fix a funky quote