Submitted by chicky2018 t3_zy8od1 in boston
Every single family oriented sub with good schools have houses well over 1 mil. In fact, I am not even talking about SF, but rather condos and townhouses. Some shitty renovated townhouse goes for 1.3 mil and above. Also the history of the house is usually something like “SF purchased for 600k and then listed for 2.6-3 mil partitioned into 2 townhomes each 1.3+ mil”, almost no backyard, the cheapest possible renovation that probably didn’t cost them more than 100k. What’s going on? Someone buys for 600k and tries to make well over 2 mil profit in just few months. Where are those deals? Seems like mostly private sales. And I should pay like 9-10k a month for that shitty “renovated and remodeled SF to townhouse” all my household income past my retirement (which is of course impossible)? Can anyone clarify what’s happening really? Where can middle to upper middle class afford housing in decent family oriented sub that’s good for raising kids?