It's flat on the left side, then suddenly soars up and to the right, indicating an abrupt and rapid rise in prices.
Which chart am I talking about? Real estate prices, specifically in an uptown enclave of Dallas, Texas– the only place in the United States where I still owned property… until a few days ago.
I grew up in the Dallas area, and returned there briefly once I was out of the military.
It was late 2004 / early 2005; my father had recently been diagnosed with a brain tumor, and I bought the condominium so that I could be near him.
Unfortunately my father passed away shortly after, and I left town almost immediately.
Rather than sell the condo, though, I kept it and rented it out.
At first things were great. I could command very high rents and had very little vacancy.
But over time things changed. It became much harder to find tenants, and the monthly rent I could charge started to fall.