IN the SF area it’s quite possible. I have a cousin in Davis, CA, about 80 miles west who owns a not particularly well maintained three bedroom house with 2 baths (one non-functional) on a lot not much larger than the Paw place. Its current value is about $600,000. Northern CA real estate values are insane.
They are, but what’s shocking is how low the taxes are for them .. including this house.
I understand the house may be worth far more than seems possible to many of us. I understand that huge mortgages have been made on such houses, particularly in California. What I don’t understand is how a mailman can make mortgage payments on such a loan, or how he can expect to make a balloon payment on such a loan. Furthermore, why would he jeopardize his home and possibly his job by funneling illegal campaign contributions when it appears he doesn’t vote regularly and doesn’t belong to a particular political party? I think there is a lot more money, or something else of great value, in this situation than the mortgage that supposedly provided tons of money to Clinton.