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In 1992, a friend got a job in the valley and I visited him when I was out there visiting the HQ for my company. He asked me to go with him to check out a condo he was thinking of buying. Remember that these are 1992 prices. The two-bedroom place we looked at was just like one of my first apartments. When the agent said it was $250K, I almost fell on the floor. My wife and I had just bought our first house, which was about three times bigger as this condo with a large front and back yard in a nice middle class neighborhood, for $80K in St. Louis. A few years ago, I saw him again. He has never owned a house but he now lives in a much nicer condo for $1.25 million. However, that condo just looks like a much nicer, updated version of that same apartment. He could have lived cheaper at an upscale, full service hotel in my town. |
I wouldn't trade my nyc studio for a McMansion back in bumfuck SC no matter how much you offered me; and I think there must be a large population that shares that sentiment.