And here we are 60+ years on, and that same house
in Levittown is probably worth $ 650,000.00.
Everything becomes relevant - or is it relative -
sooner or later.
That ad ran in 1958.
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Tesla is, as you point out, simply applying what they taught us in college:
ReplyDeleteDiminishing demand? Lower prices
High Interest rates ? Lower prices
Aging model? Lower prices
Competitors entering the market? Lower prices
Development costs paid off? Lower prices.
My first home was $22,500 in 1971. It was a two-bedroom one bath bungalow in Minneapolis. Our house payments were $127 per month and we barely could afford them.
ReplyDeleteI went to Zillow, in Levittown NY a 4b/2b starts at $631k and go up from there, no idea on the ages.
ReplyDeleteShallow dive into this and seems there was a name change of the town, and I found this house for sale built in 1959 that looks about the same excluding add-ons and reno's. Only $259,900. I understand prices for homes are underpriced compared to other parts of the country due to property taxes.
ReplyDeletehttps://www.realtor.com/realestateandhomes-detail/121-Brooklawn-Dr_Willingboro_NJ_08046_M59736-80394?from=srp-list-card
it's not that the house is worth that much. it's what the government has done to our money. it's worthless.
ReplyDelete1968 if you could manage 125.00 a week in Florida, you could have a new home and a new car, and live quite comfortably with the little woman at home with the kiddies....15 or 20 bucks for groceries per week, 10 bucks for a movie and steak dinner for 2 on Saturday night....gotta say, Nixon wasn't the best for the country, though the alternative was horrible, as proven later by Mr. Peanut....
ReplyDelete