ST Alpha - "LIR, R: I think my parents paid around 70K for the house (new construction) in 1979." (Reading a Post)

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LIR, R: I think my parents paid around 70K for the house (new construction) in 1979.

Posted by ty97 Mar 14 '14, 08:25

1600-1800 sq ft. 4 br / 2 ba 2-story on 1/3 acre

Responses:

We paid $96k for our condo in 1981 and I think the rate was about 16%. First refi was for 12% and then 6%. Both times we also took out some cash..... - Meg Mar 14, 08:59 4
- in...various.... foriegn currencies. -- nm - Reagen Mar 14, 09:05 1
  - there were shell corporations and alias involved. - Mel Profit Mar 14, 09:06
- ..rolled around on it, and burned it. -- nm - Max Mar 14, 09:04
- nice -- nm - groiny Mar 14, 09:01
My parents bought the current house in august 1981 for 63k...I remember hearing them saying at 17%. - Will Hunting Mar 14, 08:37
and now that house would go for? - Reagen Mar 14, 08:27 8
- Heh, was I just looking in my hometown to figure this out. A little hard to say. - ty97 Mar 14, 08:33 7
  - Just check the address in Zillow. It might not be perfect, but that's as realistic a guess as anything. -- nm - Will Hunting Mar 14, 08:38 2
    - I find zestimates to be craptastic on a good day and complete farce on other days (but I'll look) -- nm - ty97 Mar 14, 08:54 1
      - 248,544. And apparently my parents sold for 155 in 1993 and it hasn't been sold since. -- nm - ty97 Mar 14, 08:55
  - The other thing is, they would give anyone a loan back then -- nm - groiny Mar 14, 08:34 3
    - They would give anyone a loan in 2003 too (case in point: me) - ty97 Mar 14, 08:54
    - good point. as rates have dropped the hoops to jump through and risk analysis' at the banks have risen -- nm - Beaker Mar 14, 08:35
    - I'm still seeing ads that say "We don't have as high standards as the banks do" ... WELL WHY NOT? -- nm - Reagen Mar 14, 08:35
(for anyone from the Northeast who will know what this means: It was a raised ranch) -- nm - ty97 Mar 14, 08:27

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LIR, R: I think my parents paid around 70K for the house (new construction) in 1979.

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