Taxes and running costs, not equity, is what would (or will) prompt us to high tail it the hell outta here.
Appreciation almost always brings along costs.
This year, property taxes jumped pretty brutally for us, but so did water/sewage, sanitation and electricity. Why? Because the government can! Everybody wants to live here right?
So we get to enjoy 50% more in running expenses in return for.....'equity'...that may or may not ever actually materialize. I suppose we should just feel privileged to pay MORE for the SAME (or actually diminished) services.
I suppose its just another reason to NOT own anything expensive. Sure, you can make some money on house appreciation, but you can also pay thru the nose every year making your way there.