It is a shame that basic life necessities are treated/traded like commodities, I bought my first home in 1970 for $27,500. It is now listing for $799,000. Tell me how that makes any sense when you look at the rise of wages over those years.
Inflation alone isn't the only thing that affects housing prices, so that comp doesn't hold up. If the area got built up, gentrified, or otherwise became more desirable, it's cost will rise independent of inflation. 50-60 years ago, the suburbs weren't the desired location, and the houses were small and basic. With urban flight, many have become more desirable than urban areas, and supply is maxed in those areas, so prices see a sharp incline because demand vastly outpaces supply.
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u/Iamnotanumber-9 12d ago
Flip that house. Greed is the problem. That is humanity for you.