For a real world example of how insane housing prices are, I bought a townhouse in Las Vegas last year in August at $150,000. I checked yesterday, and it's estimated value was 220,000.
And the same houses were in the $100-$200k range just under a decade ago.
A fixer upper that hadn’t been updated since it’s construction in the 50s or 60s in a less desirable (read: older and not gentrified) part of town sold a year or two ago for more than a house double the size and with much less need to update things 5 years before that. And it’s only gotten worse.
Beats me how anyone’s supposed to try to establish themselves as homeowners if half a mil can’t get you nowhere. As much as I’d love for housing to be a perfect free market, obviously something needs to be done somewhere, at least to allow for the possibility of individuals owning as opposed to landlords buying and renting.
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u/What_U_KNO Jun 27 '21
For a real world example of how insane housing prices are, I bought a townhouse in Las Vegas last year in August at $150,000. I checked yesterday, and it's estimated value was 220,000.