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"I couldn't afford to buy my house today"...

Posted by dark_dave56 on June 9, 2021 at 07:39:38:
...that's not uncommon (depending on the area/market). Worse yet, there are people that can't afford to stay in the homes that they already own.

I have friends in Livingston, MT whose family owned a large ranch for several generations. Livingston was a "blue-collar" RR, mining, and ranching area. Once the Hollywood "elites" got done destroying Aspen, CO, they started buying-up property and building in/around Livingston. Property values and property taxes went through the roof. The "locals"--many of which had been there for multiple generations, couldn't afford to live there anymore. They could "cash-out" and sell the land at a huge windfall, but they couldn't afford to stay there in the life that they knew.