I was talking to a lady in Palo Alto, and she said back in the 50s-60s it was so expensive to own a home in that town. She said something about the houses being about $40K-$50K then.
Uh, I can relate… our family bought our 3 story building in SF Chinatown outskirts for $30-35K in early 60’s. That WAS a lot of money actually, especially if all you earned was pennies. You would cry if you saw my Mom’s property tax bill…
That’s what people not knowing chit about RE can’t understand. The price of a property is not telling the bunches of PT to be paid. Certainly some RE agents are not telling the whole enchilada.
Every time there’s a proposition that wins on the ballots, $ is taken from our pockets.
Los Altos was $69K in the 70’s. That was only because the buyer couldn’t fathom spending $70k on a home. He negotiated with the builder to pay under $70k. The house is at least $3M today.
I like this site when comparing $$$ of the 1940’s, 1960’s etc to $$$ of the 2010’s
At least in my neck of the woods, lots on Balboa Island, Newport Beach, and Corona Del Mar were also “free with purchase of a tote bag” - the reason at that time wasn’t fear of another earthquake, but zero drinking water access. Today SFR’s start at 1.5m
Thanks for reading,