Does this woman understand that liberal rent control laws and land use regulations are part of what drives high home prices? There is only so much land and when her liberal friends tie it up in conservation easements and no build zones the price of what is left goes up. My guess is her parents didn't have to wory about such things when the built their castle for $10,000. Also what does $10,000 in 1954 equal in today's dollars? And how does that amount compare to the average home price today in her area?
I am not a great fan of McMansions and urban sprawl both of which we have too much of here in central Indiana, but you can't divorce government policy from economic outcome.
It's relative to the current market.
$555K gets you 1096 sf, 3 bdr, l ba on a 90x60 lot built in 1952 (original price $12K) in an illegal alien overrun neighborhood in Orange County, Calif.
In southern Nevada, the same amount gets you 3200 sf, 4 bdr, 3 bath, sunroom, built in 1982 on 105x110 lot on a golf course.
yitbos