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In Memphis, the $50,000 house a reality

By John Bailo   2012 Nov 4, 1:37am   ↑ like (1)   ↓ dislike (1)   1,462 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 »

1   Tenpoundbass (151/151 = 100% civil)   2012 Nov 4, 9:39am  ↑ like (2)   ↓ dislike (1)   quote   top   bottom   home   share  

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 (29/29 = 100% civil)   2012 Nov 4, 9:47am  ↑ like (1)   ↓ dislike   quote   top   bottom   home   share  

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

3   justme (59/59 = 100% civil)   2012 Nov 4, 10:08am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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

4   mell (31/31 = 100% civil)   2012 Nov 4, 10:20am  ↑ like   ↓ dislike   quote   top   bottom   home   share  

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   top   bottom   home   share  

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   top   bottom   home   share  

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

7   zzyzzx (99/99 = 100% civil)   2012 Nov 4, 10:22pm  ↑ like   ↓ dislike (1)   quote   top   bottom   home   share  

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   top   bottom   home   share  

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   top   bottom   home   share  

Price drop! Now $42k

Comments 1-9 of 9     Last »

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