Economically priced house

[Bassin08]

Bought my house in 2002, for $135k...i can sell now for 300k. The market down here is crazy. I want something bigger cause my 3 children are all teenagers now. I just cant afford it.

In 5 years they will all be in college, or moving out, so you will want a smaller house. If you buy a house now at these inflated prices, you will not get your money back out in 5 years.

A new basic cookie cutter 1700 sf house here is running in the $400,000 range.

[Mark Perry]

Around here anymore it seems $300,000 is the starting point for a normal 3br home in decent shape with builder grade fixtures. This is usually on small residential lot as well

[Iowabass3826]

History tells us there will be a recalibration of sorts eventually. It can’t continue to shoot for the moon forever.

[Bassin08]

It’s either high prices and low interest rates, or high interest rates and low prices. This bubble will bust too. I think there are a lot of people with big mortgages, along with a lot of home equity loans.

[Bassman Ia.]

6 months ago I saw some prices on some houses for sale and laughed and said they would never get that price. Not only did the house sell within a day, they got more then the asking price.