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Yeah, I know it - I have a 1960s-built home. Problem is, despite no major upgrades since then, in the 70s or 80s I could have bought it for 3-3.5x the median wa
by stephen_g 3y ago
Yeah, I know it - I have a 1960s-built home. Problem is, despite no major upgrades since then, in the 70s or 80s I could have bought it for 3-3.5x the median wage, when I bought it in 2017 it was about 7x the median wage, and in the post-COVID craziness its value has gone up at least two more median wages, so we're talking 9x now, so as financially screwed as my generation has been, the next generations will have it even worse...
And honestly I don't care that the value has gone up so much since I bought it, because any house I would want to shift to if I sold it will have also gone up in value just as much - basically the only benefit is to those with multiple houses, or those inheriting houses from relatives...
- WalterBright 3y ago> any house I would want to shift to if I sold it will have also gone up in value just as much Yup. All you get for the increase in value is a bigger tax bill.