Relative
I thought it might be interesting if everything was free.
I know it wouldn't work because all things are not equal.
But the value of some things have skyrocketed, especially in areas where the climate and surroundings seem more desireable.
Housing in California has become like gold. Hard to find and worth a lot more than its weight.
The 1st hous eI bought was on an acre of hillside land in Topanga Canyon and cost $28,000. When it was sold it went for $48,000. Then a year later is sold for $90k and that was in the 70's.
I have no idea what that place is worth today.
My folks bought a house in Santa Monica in 1947 for $14,000. In 1986 it sold for $300,000 and was torn down in 13 minutes and replaced with a much larger version for an additional $275,000 and sold for well over a million.
I never bought another house and now live in a mobile home park for the aged. My home is worth 4 times what I'm paying for it.
Doesn't matter that it's worth more because I couldn't afford to buy anything else in today's market that would be an improvement over what I have.
So, it's all relative but someone out there is making a lot more money than I am to be able to afford the median priced homes in this area for a million bucks!
Since older homes and property are worth so much why is it that older people are valued less?
You are going to get older (no doubt about that). Are you ready?

3 Comments:
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Sorry for deleting a compliment.
I didn't realize that the little icon was a trash can - DUH!
I hear you. I'm a retired military guy, and my wife and I are scouring the web looking for affordable places to live. Since I moved so much I didn't buy a house but rented. So now we have no equity. In the last couple years of my working life we need to find someplace affordable and think we've found the location -- south east Alabama. Doesn't compare to California (I've lived in Sausalito and loved it, but again, couldn't afford to buy anything). Good luck to ya, atomicbride.
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