Two years ago in a ritzy area north of Houston people were trying to sell $250,000 homes and couldn’t find buyers. Now they’re getting $300,000. It’s nuts!
Reminds me of a story from the 80s, told by a friend of mine. She was home that day, a bit under the weather, when the doorbell rang.
A well-dressed Japanese chap was at the door, with an attaché case filled with money, and she saw the dinero. He offered her $300,000 for the house right there, cash on the barrelhead.
Her parents weren’t home - it was their house - so she declined. The chap went next door, and bought that house for $300,000.
At that time in that part of Southern California, the average house price was roughly $150 - $175,000.