Here is a look at what kind of brand new home $1 million will get you in 5 different states. 

Home #1 – MINNESOTA

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Home #2 – ILLINOIS

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Home #3 – SOUTH CAROLINA

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Home #4 – WASHINGTON

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Home #5 – TEXAS

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  • horselips

    Apparently one of two possibilities exist here. (1) A dollar ain’t what it used to be and even a million of them doesn’t go very far, or (2) there are lots and lots of suckers born every minute, enough of them to sustain idiotic prices for land, and the mickey-mouse houses built thereon.
    Of course there is an outside-the-box solution to all this in many markets, especially in the south and west. Much if not most of many states is owned and controlled by the federal government, and lots of that federal land abuts major metropolitan areas. Strategically releasing parcels of that land to the states for sale or distribution to developers would vastly impact the price of land and homes in those markets – even just threatening to do so might mitigate the arbitrary and artificially inflated prices home buyers are victimized by. The federal government, in many markets and for years to come, could insure that the supply of residential land always meets, or better yet, exceeds the demand, and under those favorable conditions, home prices would more reflect the actual cost of construction or replacement, and not be inflated with cruel, arbitrary mark-ups.
    Deporting millions of illegal aliens would also help – those people need places to live and eliminating their demand would result in oversupply and exert downward pressure on real estate prices. The value of anything should reflect its intrinsic worth, unaffected by panic, emotion, and unstable, transient market forces. That way, we keep things honest, and avoid the real-estate bubbles that inevitably break, ruining millions.




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    • Pierre

      But then a lot of real estate investors would lose most of their money…




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      • horselips

        Revenge is a dish best served cold.




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