Mr.GG2’s daughter and son in law recently paid $1.2 million for a 1958 POS fix up bungalow in that area. He works for Intel. That house in Atlanta would have been $150,000 tops. I just shake my head.
I bought a 900 sq foot house (INCLUDING one car garage!) on a 6,000 sq foot lot in Palo Alto in 1978 for $100,000 (11X or 12X my salary at the time), an astronomical amount then. I’d scrimped and saved during my five years in a field service engineering job to build up a 25% down payment. During my field service years, I never had a home and lived 100% on the road. House prices had about doubled in five years and I was scared to death I was buying in at the peak and would get wiped out.
I told dear old Dad what I’d bought. I can still hear his voice loud and clear: “Son, that was the STUPIDEST thing you’ve ever done.” His background and frame of reference didn’t let him understand the economic potential of this area.
We had to sell that starter house to move up. Sure wish we hadn’t sold it and made it into a rental!