6 ms·

This comment completely shocked me. Quick zillow verifies it... If you had asked me, I would have guessed <$200k. What drives those prices?

• falcolas 5y ago
  People selling their $1.5M home in California and buying one home here and one in Arizona/Florida.
  • calvano915 5y ago
    > People selling their $1.5M home in California and buying one home here and one in Arizona/Florida. And real estate investment groups buying up housing to rent.
    • falcolas 5y ago
      As per a conversation I had with a realtor, they don't buy houses to rent them out, since the wear and tear of the renting lowers the eventual sale price. Since the price for houses has been going up steadily for over a decade now, it's financially advantageous for them to leave the houses empty and wait for a sale.