Ouch! Is this bad news for the consumer or what?
Our starter home that we built new in 1991 cost us $92,000. It recently sold for just under $400,000. This is in the KC area.
In 1976, we paid $76K for a SF home on 76 Sussex.
Three 76’s! We considered that a good omen.
Zillow shows current value of $1,525M…!
I try to not think about that.
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I think there’s something…not great…about the concept of a “starter home”. Like it’s just temporary, basic, and a place you tolerate until you can afford a bigger, showier place. And now, there are fewer and fewer areas where the prices of these so-called starter homes are in line with a starter budget.
So sadly true
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