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Destinations, Dreams and Dogs - International adventure with a fast-track family (& dogs) of Old World values, adopting the Russian-Italian-American good life on the go…!

Getting Real with Real Estate

traditional-exteriorDepending on where you live in the world, interest rates are generally down, meaning affordable.  Oh, I know, there’s a percentage of a point rise or drop now and again, yet when you compare them to what some of us remember (that would be near 20%) from way back when… kinda hard to complain.

But property prices… something else.  I realize there are pockets of the country where you can buy an old, historic mansion in the middle of nowhere for a bit of change, but around here, no way.  Just for fun, I scan the listings for no good reason during my five minute coffee break. 

Here’s a 1-bedroom, 1-bath, 10-foot wide home for half a million dollars.  Built thin 1890, it’s just over 600 square feet.  Even a new condo that size would offer a pool and a view.

Then there’s a 2-bedroom, 1-bath, maybe 12-foot-wide semi-detached townhome from 1790.  The listing says that there is street access to the rear, postage-stamp garden.  Glancing at the photo, I agree that maybe somebody could squeeze down the narrow walkway between houses… if their shoulders were 12 inches wide.  Again, a cool half mil.

Parking?  Hah, hah.  Don’t make me laugh.

These are the kind of places where the roof is leaking, the plumbing and electricity need updating, you know, the regular historic home scenario.  But the diminutive sizes give pause for thought:  a living room with a couch against one wall, a bedroom that can barely fit one bed, a kitchen with kid-like counter space.

Do you think that your children will be able to buy a home one day?

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