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Dave
And dimes, quarters, and half dollars, were made of silver. . .
I like those monthly payment.
My father bought our 3-bedroom house in Richfield, MN in 1954 for $10,900. In 1984 he made the last mortgage payment.I grew up in a similar 3BR house in Miami.
In 1977, my folks sold it for $50,000.
Zillow says it's value now is $1,226,600.
That is a very nice increase in value of that home.I grew up in a similar 3BR house in Miami.
In 1977, my folks sold it for $50,000.
Zillow says it's value now is $1,226,600.
[$50,000 to $1,226,600 in only 45 years!]That is a very nice increase in value of that home.
[$50,000 to $1,226,600 in only 45 years!]
Yeah, it would be... if it was still in the family.
I bet a lot of folks are kicking themselves for selling a house
for like $80,000 in the '90's, which would be worth 3x that now.
.
I would assume the houses built 40 years ago were better built with all buildings materials made in the USA and not China.Compounding is a powerful thing. 50k to 1.226 MM in 45 years is only a bit above a 7% appreciation compounded.
That's about right. I bough a house in 1992 for $121K; it worth in the low $400s today.[$50,000 to $1,226,600 in only 45 years!]
Yeah, it would be... if it was still in the family.
I bet a lot of folks sold a house for ~$80,000 in the '90's,
and if they checked, would find it's worth 3-4x that now.
.