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It's worth what anyone is willing to pay for it. I paid $85,000 for my house brand new in 1993...could sell this shithole for $650,000 tomorrow. Not my fault.
It’s equal parts, market manipulation by corporations and inflation caused by government greed, wanting your property tax for the inflated value.
And even with your $650,000 you can’t sell it and go anywhere else comparable so it’s not so much an asset as it is an anchor .
I paid 200 K for my house in 2006 its worth close to 600 now. I can’t sell it and go anywhere for less money. And I have the benefit of property tax that go up every year for as long as I “own” it.
It's worth what anyone is willing to pay for it. I paid $85,000 for my house brand new in 1993...could sell this shithole for $650,000 tomorrow. Not my fault.
It’s equal parts, market manipulation by corporations and inflation caused by government greed, wanting your property tax for the inflated value.
And even with your $650,000 you can’t sell it and go anywhere else comparable so it’s not so much an asset as it is an anchor .
I paid 200 K for my house in 2006 its worth close to 600 now. I can’t sell it and go anywhere for less money. And I have the “benefit” of property tax that go up every year for as long as I “own” it.