I saw this posted by the local newspaper on Twitter today. One unit of a high-end duplex that sold for $1,778,500 back in late January is now, not three months later, back on the market. The asking price? $1.3 million!
Those of us who bought our houses some years ago are flabbergasted at the steady increase in the price of housing. When I was young, we had a term "house poor" for folk whose home devoured every extra cent in the budget. Today, I think we may start talking about folk who are house rich. They bought their home for a mere fraction of what it is worth today. Many retirees have almost all of their wealth in the family home.
1 comment:
I feel that part of the problem is the rampant greed of agents driving up the prices to unrealistic levels.
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