Subj : Re: New to this
To   : boraxman
From : Gryphon
Date : Tue Apr 22 2025 03:48 am

On 19 Apr 2025 at 11:53a, boraxman pondered and said...
 
 bo> My mum is a Boomer, and she said people can just "Scrimp and Save" like
 bo> she did.  I asked her how long it took to pay off the mortgage.  We grew
 bo> up in a decent suburb.  The house wasn't a palace, but decent enough
 bo> standard middle class suburban house, not too far from everything.  She
 bo> responded "5 years".

I bought my first house in 1997 in a Nor Cal city suburb for $116K. 3bed 2bath 1400sqft on a corner lot. Sold it 5years later for $210K. Today that same house is in the neighborhood of $500k. So I suspect that when your mom bought the house at 22, she bought it at least 20+ years ago when prices were so much lower. Incomes have not increased at the same rate as home prices so there's that.

 "Amy Pond, there's something you better understand about me 'cause it's
 important, and one day your life may depend upon it. I am definitely a Mad
 Man with a Blue Box."
          .oO Madman with a Blue Box BBS Oo.oO madmanbbs.ddns.net Oo.

.... I don't want to go!

--- Mystic BBS v1.12 A48 (Linux/64)
 * Origin: Agency BBS | Dunedin, New Zealand | agency.bbs.nz (21:1/101)

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