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>Relatively crappy homes in town that were 100k back when I was looking are now north of 250k. We'd need to know more about your area to really assess this...

>Relatively crappy homes in town that were 100k back when I was looking are now north of 250k. We'd need to know more about your area to really assess this... $250K really isn't very much money. In my area, you could afford that house on our minimum wage, even as just a single-income household. In fact, the mortgage on it would be less than our typical area rent. I hear a lot of stories like what you are sharing about the beautiful 60 acres back in the 80s... let's just say that baby boomers for all their complaining about 18% interest rates actually had a whole lot of things working for them that we don't today. Competition is different because capital moves around the world easily.

Auracle 4y ago
It's a town of 1,000 where everyone with money lives out of town either on a lake or on a piece of land. Kids that lived in town were looked down upon a bit in school because it usually meant they were poor. That's somewhat changed as that town has had a bit of a resurgence with touristy shops. The biggest lake in the area is a popular tourist destination, and plenty of rich people own "cabins" on other lakes as well. The point was the homes were dirty cheap, and now they're significantly more than what I paid for a much nicer house on what most would consider a ton of land.