- Jan 19, 2018
- 2,543
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I was bored so I browsed Trulia/Zillow for the first time in about 3-4 years. It kind of shocked me into reality.
10 years ago (when I initially started looking) there were dozens of nice homes available in the 120k-150k range. Too many for me to see all of them. A really nice home started at 200k, and McMansions in premier areas started at around 280k. A good fixer upper was around 80k-100k. If you were content to buy in a bad neighborhood you could get one as cheap as 30-40k.
Now?
Nice homes? None. Those dozens of good houses from a decade ago? Off the market. Not a single one available.
Decent fixer uppers in good neighborhoods? Also none.
Buyers are left with:
1) Homes in crappy, crime ridden areas that list around 80k-100k. Hope for gentrification, I guess.
2) High end homes that start at 350-400k.
The "Renter Nation" nightmare might actually be right around the corner.
10 years ago (when I initially started looking) there were dozens of nice homes available in the 120k-150k range. Too many for me to see all of them. A really nice home started at 200k, and McMansions in premier areas started at around 280k. A good fixer upper was around 80k-100k. If you were content to buy in a bad neighborhood you could get one as cheap as 30-40k.
Now?
Nice homes? None. Those dozens of good houses from a decade ago? Off the market. Not a single one available.
Decent fixer uppers in good neighborhoods? Also none.
Buyers are left with:
1) Homes in crappy, crime ridden areas that list around 80k-100k. Hope for gentrification, I guess.
2) High end homes that start at 350-400k.
The "Renter Nation" nightmare might actually be right around the corner.