I touched on this in a post the other day about a 'starter' home in Glen Ridge, NJ that sold for nearly a milllion bucks. It was actually slightly smaller than the house I grew up in that's pictured above.
When my grandmother died in 1995, my father sold the house for the then unbelivable price of $ 110,000.00. I think somewhere in heaven he's still laughing at the guy who paid that much for it. To get to that sq. ft. number they have to be including the partially finished basement, also. Now look at the valuation. And that's in Brick City- Newark friggin' NJ! Granted, it's still a relatively nice neighborhood - for a few blocks, at least, but that is one crazy friggin' number.
The NY Post did an article on starter home prices today. It's no wonder kids are living with their parents - and/or grandparents - well in to the 40's. There is no such thing as affordable housing anymore. Not even here in No. Central Florida, unless a dilapidated single-wide is your dream. Juss' sayin'...
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just in time for Mother's Day.
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How many people would now be homeless if they had managed to tax people on unrealized capital gains?
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