Subj : Re: Chinese Scientists Cr
To   : MIKE POWELL
From : Rob Mccart
Date : Fri Feb 21 2025 01:44:00

AT>> $324,999 for it, and it kinda looks like a dump. Imagine you work at Tim
  >> Horton's in Kingston, and you want to buy that place. How would you ever af
  >> it? And that is the cheapest home in the whole city.

Our minimum wage here is now $17.20 an hour.. does that help?   B)

There are cities, some good sized ones, where fewer people want to
live or there's not enough work to attract any but retired people
where you can buy houses and condos for around that $300,000 or so,
but quite nice ones in these areas since the whole place is lower
priced and you're not buying into an area of extremely poor people.

And some modular home parks (like big trailers without wheels?)
sell for from not much over $100,000 to $200,000 but you lease the
land and the value is in the location. If the place closes down you
virtually lose it all. You'd be lucky to get $15,000 for the home,
which would have to be moved. But, that said, a friend of mine who
has one of those bought it about 15 years ago for under $25,000 so
nothing is immune to the skyrocketing prices.

MP>I hate to tell you this, but if you work at Tim Horton's in a US city (or
  >IHOP or McDonald's or wherever), you probably are not going to be able to
  >afford the cheapest home in your own city, either.  Certainly not one that
  >is not in a run-down, likely crime-ridden part of town.

There's no question housing is out of control at the moment but we have
an election coming up and they are all planning (?) to do something
about housing prices. Have to wait and see..

Those of us who were already owners can sit back and reap the rewards
I suppose, as long as you're not planning on moving to a bigger place
or to a bigger city.

Funny story about my place.. Originally it was part of a resort on
Georgian bay with primitive little cottages. Our family bought 2.25
acres with 650 feet of water frontage and 5 cottages and a couple of
out buildings. We paid $69,000 for it in 1980..

27 years later when my parents were getting too old to spend much time
there we split the property and my brother, my sister and I kept one
side with 1.25 acres and 3 cottages and we sold the other side with
1 acre of land and 2 cottages for just over $400,000 by then.

Now, another 18 years later, a recent estimate of value I got last
summer from a property manager in the area said our property here
is now worth roughly $1.2 million, even though the buildings on it,
being small and old, are virtually worthless.

Isn't real estate fun?    B)

---
 * SLMR Rob  * If you notice my mind wandering... send it home
 * Origin: capitolcityonline.net * Telnet/SSH:2022/HTTP (1:2320/105)

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