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submitted 1 year ago* (last edited 1 year ago) by TheGiantKorean@lemmy.world to c/nostupidquestions@lemmy.world

I see a lot of expensive houses being built in my area. A LOT. And the weird thing is that they're being bought pretty quickly. Are these people just making more money than me? If so, what are they doing for a living? Or are they just living house poor? How exactly are they affording these places?

Edit: For reference, my neighborhood is starting to become popular (because the other popular neighborhoods have priced most people out of affording places there). The normal price of newer homes here is $700k. My home, built in 1965, which is 2500sq ft on a quarter acre of land, is $500k.

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[-] Tangent@lemmy.world 3 points 1 year ago

In my area the biggest factor is multiple families purchasing homes together. When you're splitting the mortgage it's a lot more affordable.

this post was submitted on 14 Aug 2023
141 points (96.1% liked)

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