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In Memphis, the $50,000 house a reality

By John Bailo   2012 Nov 4, 1:37am   1,490 views   9 comments   watch (0)   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 »

1   Tenpoundbass   977/978 = 99% civil   2012 Nov 4, 9:39am  ↑ like (2)   ↓ dislike (1)   quote    

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   213/213 = 100% civil   2012 Nov 4, 9:47am  ↑ like (1)   ↓ dislike   quote    

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

3   justme   109/109 = 100% civil   2012 Nov 4, 10:08am  ↑ like   ↓ dislike   quote    

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

4   mell   63/63 = 100% civil   2012 Nov 4, 10:20am  ↑ like   ↓ dislike   quote    

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   Bigsby     2012 Nov 4, 3:34pm  ↑ like   ↓ dislike   quote    

justme says

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

Nice looking chunk of land for that price.

6   APOCALYPSEFUCKisShostikovitch     2012 Nov 4, 9:46pm  ↑ like (1)   ↓ dislike   quote    

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

7   zzyzzx   570/570 = 100% civil   2012 Nov 4, 10:22pm  ↑ like   ↓ dislike (1)   quote    

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

8   edvard2     2012 Nov 4, 11:36pm  ↑ like (1)   ↓ dislike   quote    

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.

9   New Renter     2012 Nov 4, 11:37pm  ↑ like (2)   ↓ dislike   quote    

Price drop! Now $42k

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