I'm. a local contractor.With the way the market is, and how historically steady FOCO has been over the last decade (at least), I would say hold onto it, especially if you aren't stopped for cash. 

I'm sure it will continue to appreciate nicely over the next couple decades but for my next purchase I would like to find better cashflow.

Families not downsizing as their families shrink, illegally subletted apartments removing units from the markets for decades as opposed to average move times creates housing shortages.

New construction easily costs $40-100k per lot BEFORE breaking ground, and most of California would've needed to build 10,000+ housing unit per year FOR THE PAST THREE DECADES to keep our housing prices on par with the rest of the country.http://www.latimes.com/politics/la-pol-sac-california-high-housing-prices-20160414-story.htmlSo if you hear people talking about the "bubble bursting soon" or anything like that, they're tripping.

the lehigh valley has had pretty consistent population growth over the past few decades, even post COVID. 

Adam BartomeoI think there are multiple answers for your question.1) The internet allows the exchange of information to be much more prevalent than it was a decade ago and the word about investing in real estate is getting out.

I've also built and seen others build a lot of equity in that time.Purchase: $80k-$130kRent: $1100-$1500 (no rent control in MI)1% rule: 1%-1.4% rule dealsROI: 10-14%Cash flow: $150-$300/door (after all expenses and budgeting for maint, capex, vacancy)Appreciation: 3-10%+ (has been double digit for a decade)Location: C+, B-These numbers are based on the "sweet spot" in Metro Detroit.

It’ll be 5+ years before prices for most asset classes will be fully recovered and then within the overall market there are pockets of absolute garbage like Queen Mary Park that’ll be 2 decades before they start improving significantly and other areas that’ll rise /recover much more quickly.

Assuming GE is still building water heaters with the same quality 2 decades ago, it seems to me that if you plan to keep the house for many years, it is worth it to get the longest warranty model. 

My father is more frugal than not as well but he's also got a commercial real estate empire - he reinvested his money for many decades and as a result he didn't have a lot of money to spend on other things which made him and my mom frugal as a result.