27 May
2013
27 May
'13
8:01 a.m.
On 05/27/2013 04:37 AM, mc68010 wrote:
Real estate ain't my thing but, the median home price in the US is over
$200k. Even in the south its over $150k. What you might get for $40k may not
be something anyone can actually live in, or want to, without a whole lot
more money being spent on it. Was the listing in Detroit by chance ?
I don't know where that median price came from, but I find it suspicious.
I just left a very nice area a few miles from some the country's most
beautiful beaches, full of houses in the 20K-60K range that are only just now
beginning to sell.
I moved to a similarly nice (but slightly more depressed) area where nice,
biggish houses can be had all day long for $70K.
The ones you can get for $20K are typically in need of lots of work, having
been abandoned due to either foreclosure or impending foreclosure. But there
are AN AWFUL LOT of those, and with labor prices being in the toilet, putting
$5K-$10K into a $20K house can often get you a really, really nice place in a
good area.
$200K houses. Ha! Yes, I can find some, if I look hard enough...stuck in
between the $50K "fixer-uppers" which are now the norm, thanks to
"capitalism".
-Dave
--
Dave McGuire, AK4HZ
New Kensington, PA
Maybe for a burnt down chicken coop or something about
to slide into a
sinkhole.
Looked like ordinary suburban houses to me... probably not in a very
vibrant suburb. Santa Clara it ain't.