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I looked it up and I'm beside-myself shocked. The average home costs 240,000 in the U.S., and the average income is around 40,000. So, six years. But I'm really floored at that 240 figure -- of all my family and friends of varying levels of income and success, I know maybe 1 person who has a quarter-million dollar house. That seems insane. I would have guessed the average home price in the U.S. much, much lower. My salary's averaged in the 80s-90s since 2000 and my house was 110 and it's STILL hard to pay the mortgage!! Maybe I need to eat out less. :)
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by cartwrightdale on Sun Aug 05, 2007 at 05:13:05 PM PDT
[ Parent ]
in areas like D.C. $1 million still buys a nice house there, but the low end is horrible. And there are lots of areas where even small houses are over $500k and up.
by unterhausen on Sun Aug 05, 2007 at 05:18:49 PM PDT
the interest that 240 becomes larger . The home is 240 k cash , >240 on terms . So 6 years wages in cash .
If I move to a place where I can buy a home cheap , can I make money ?
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by indycam on Sun Aug 05, 2007 at 05:50:31 PM PDT
on redondo beach is not a 240 K home . That home today is more like a million . He got it for one years wages as a normal worker . If I wanted to buy that home today , doing the very same job he did , I would need a multi generational mortgage .
by indycam on Sun Aug 05, 2007 at 05:55:14 PM PDT
somewhat lower.
Patriotism may be the last refuge of scoundrels, but religion is assuredly the first.
by StrayCat on Sun Aug 05, 2007 at 06:43:49 PM PDT
It only takes a relative handful of 25-million dollar estates to throw off the averages for the rest of us. :)
by cartwrightdale on Mon Aug 06, 2007 at 09:23:22 AM PDT
wide narrow
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