Reply to How does your family survive making under 200k hhi

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[quote=Anonymous][quote=Anonymous]

It depends on when you bought.  We bought in the late 80's (top of the previous peak).  It is hard to compare real estate prices because it isn't he same housing stock.  WHen we bought our "shit shack" it was aboe the 50th percentile in house value for the area.  Now, with all the fill ins and teardowns, it is at the top of the teardown heap around the 45th percentile.   If you go and buy a house like ours, it will be similar to the income inreases.  But, buyers don't want a house like ours, they want more square footage, granite (or fancier) countertops, top notch appliances............  Buyers want more expensive houses and then complain that their houses are more expensive.[/quote]

Part of the problem is that the housing stock is divided between tear downs in ill repair, or overgrown overpriced houses. Close in, no one builds modest houses , because the largest portion of cost is land. Fancy appliances add what? 5 %?  Unlike a 200k home where it could be a 25% cost. [/quote]

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