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Post by violet on Aug 28, 2006 17:05:12 GMT 10
They sure do rise around here. A big, old, landmark home near ours just sold for an enormous amount - and now the new owners will need to spend a small fortune fixing it up. The kitchen, bathrooms and wiring all need replacing, so it will be a big job. It's hard to imagine that in years to come they'll be able to sell it for even more than they bought it, but historically speaking, that's likely to be the case.
However, is it worth spending mega-bucks on a house? I continually hear stories of women who "have" to work because of the huge mortgages on their fabulous homes. It seems that many people buy the biggest and best they can, then work so hard to keep up with the mortgage payments - which means they don't actually get to ENJOY the house they've bought.
Of course some families need two jobs just to have a house at all. The people I'm talking about want to live like the really wealthy, which seems a little silly to me.
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Post by braided-rug on Aug 28, 2006 18:51:19 GMT 10
Your city is the fastest growing in price, probably worse than NYC. It is such an unusual thing I would say it has affected alot of the social fabric of our state now as in people moving out etc. People are starting to lose their homes from what I have been told, because of not being able to keep up.
We were told it would slow down but it hasn't seemed to. Apparently the prices here are higher too, something to do with the price of building.
Unfortunately I haven't been following it since I moved here, not as closely as I should. The places where I grew up have increased a huge amount.
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