down the line Wrote:
-------------------------------------------------------
> ravensworth farm Wrote:
> --------------------------------------------------
> -----
> > When they started building the Ravensworth farm
> > subdivision in the early 60's my dad thought
> that
> > it would be insane to buy a house "that far out
> in
> > the country."
> > 20 grand for a ravensworth house!
> >
> >
> > Ravensworth Farm Development ,”
> > braddockheritage.org/, accessed February 16,
> 2013,
> >
http://braddockheritage.org
>
>
> WOW, the prices on the homes!!! fuck me running.
> It's no wonder why you have a generation of shit
> heads running around, instant wealth handed down
> to them.
> Great article by the way!
> Thanks for posting that!
An older neighbor was one the original owners in our subdivision which was built in the later 50s early 60s. He said there were two models - the standard house for $17K or you could step up to the upgraded model which gave you a laundry room and finished basement and a few other little perks for $20K. Last appraisal I think was around $650K-ish. Ridiculous for what these houses are. Mostly all in the land value.
That's not as great as it seems though. A lot of that is pure inflation. $20K then = about $175K today. By the time you add in maintenance, improvements, finance/opportunity cost, taxes, and all of the rest over the years on an inflation adjusted basis, selling costs, etc., you've done OK but you're not getting rich.