In Memphis, the $50,000 house a reality

By John Bailo   follow   Sun, 4 Nov 2012, 1:37am PST   ↑ Like (1)   ↓ Dislike (1)   1,253 views   9 comments   Watch (0)   Share   Quote  

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/

Comments 1-9 of 9     Last »

Tenpoundbass   befriend (1)   ignore (18)   Sun, 4 Nov 2012, 9:39am PST   Like (2)   Dislike (1)     Share   Quote   Comment 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.

lostand confused   befriend (9)   ignore (2)   Sun, 4 Nov 2012, 9:47am PST   Like (1)   Dislike     Share   Quote   Comment 2

1.25 acres and the estimated mortgage payment is 148 bucks a month!!!!

justme   befriend (2)   ignore (2)   Sun, 4 Nov 2012, 10:08am PST   Like   Dislike     Share   Quote   Comment 3

You have to admit this place is an absolute dump, though. And 840 ft2.

mell   befriend (8)   ignore (5)   Sun, 4 Nov 2012, 10:20am PST   Like   Dislike     Share   Quote   Comment 4

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".

Bigsby   befriend (0)   ignore (14)   Sun, 4 Nov 2012, 3:34pm PST   Like   Dislike     Share   Quote   Comment 5

justme says

You have to admit this place is an absolute dump, though. And 840 ft2.

Nice looking chunk of land for that price.

APOCALYPSEFUCKisShostikovitch   befriend (27)   ignore (33)   Sun, 4 Nov 2012, 9:46pm PST   Like (1)   Dislike     Share   Quote   Comment 6

It's like that in Kuala Lumpur and, I got to tell you, the joint is jumpin' !

zzyzzx   befriend (10)   ignore (6)   Sun, 4 Nov 2012, 10:22pm PST   Like   Dislike (1)     Share   Quote   Comment 7

50K is what a house should cost! I paid substantially less than that for my house.

edvard2   befriend (0)   ignore (1)   Sun, 4 Nov 2012, 11:36pm PST   Like (1)   Dislike     Share   Quote   Comment 8

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.

New Renter   befriend (4)   ignore (11)   Sun, 4 Nov 2012, 11:37pm PST   Like (2)   Dislike     Share   Quote   Comment 9

Price drop! Now $42k

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