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In Memphis, the $50,000 house a reality

By John Bailo   Follow   Sun, 4 Nov 2012, 9:37am   808 views   11 comments
In Kent WA 98030   Watch (0)   Share   Quote   Permalink   Like (1)   Dislike (1)  

Today we see computers selling for pocket calculator prices.

Is the home that sells for the price of a car far behind?

Seems like it is starting in Memphis!

http://www.zillow.com/homedetails/2140-Harrell-Rd-Arlington-TN-38002/52123566_zpid/

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1. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

   1   5:39pm Sun 4 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   It's the Cars that are selling for home prices. If it wasn't for people willing to lease cars. The MSRP for your average car would still be around 10K-21K, instead of 24K-35K. As for home values, just wait until when interest rates get back to historic 7%-12% range.

2. lostand confused Follow Befriend (9) 184 threads 1,668 comments Premium

   2   5:47pm Sun 4 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   1.25 acres and the estimated mortgage payment is 148 bucks a month!!!!

3. justme Follow Befriend (2) 34 threads 3,497 comments

   3   6:08pm Sun 4 Nov 2012   Share   Quote   Permalink   Like   Dislike   You have to admit this place is an absolute dump, though. And 840 ft2.

4. mell Follow Befriend (5) 74 threads 1,406 comments Premium

   4   6:20pm Sun 4 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   justme says You have to admit this place is an absolute dump, though. And 840 ft2. See but that's the problem, Admittedly old, not very big and in need of some TLC. But that attitude today makes people think they are entitled to an upscale 4 bedroom in the bay area and get majorly into debt because they don't want to "settle for less".

5. John Bailo Follow Befriend 95 threads 472 comments Kent, WA John Bailo's website

   5   10:36pm Sun 4 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   I also checked the crime stats and they're not bad. mell says But that attitude today makes people think they are entitled to an upscale 4 bedroom in the bay area and get majorly into debt because they don't want to "settle for less". I think of those people in NYC flooded out by Sandy, who are in $1M homes but feel they "cannot move". The could sell out, buy something like this and have hundreds of thousands to live off, or get some $45,000 job and have a better or just as good lifestyle.

6. John Bailo Follow Befriend 95 threads 472 comments Kent, WA John Bailo's website

   6   10:37pm Sun 4 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   I also checked the crime stats and they're not bad. mell says But that attitude today makes people think they are entitled to an upscale 4 bedroom in the bay area and get majorly into debt because they don't want to "settle for less". I think of those people in NYC flooded out by Sandy, who are in $1M homes but feel they "cannot move". The could sell out, buy something like this and have hundreds of thousands to live off, or get some $45,000 job and have a better or just as good lifestyle. Here's one for $45,000 http://www.zillow.com/homedetails/8168-Robena-Ln-Millington-TN-38053/42316324_zpid/

7. Bigsby Follow Befriend 2,843 comments Monterey, CA

   7   11:34pm Sun 4 Nov 2012   Share   Quote   Permalink   Like   Dislike   justme says You have to admit this place is an absolute dump, though. And 840 ft2. Nice looking chunk of land for that price.

8. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,620 comments Premium

   8   5:46am Mon 5 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   It's like that in Kuala Lumpur and, I got to tell you, the joint is jumpin' !

9. zzyzzx Follow Befriend (9) 436 threads 4,261 comments Baltimore, MD

   9   6:22am Mon 5 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   50K is what a house should cost! I paid substantially less than that for my house.

10. edvard2 Follow Befriend 38 threads 2,313 comments

    10   7:36am Mon 5 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   I am familiar with Memphis. I have relatives who live there. The reason houses there are cheap is because the local economy doesn't pay anything close to what you would get paid in say- the Bay Area. Memphis was hit pretty hard by the recession. Its a city with a lot of promise, but its not quite there yet.

11. New Renter Follow Befriend (3) 15 threads 2,455 comments San Jose, CA Premium

    11   7:37am Mon 5 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Protected   Price drop! Now $42k