It's official, homes are like ammo

[Sigarms]

According to Zillow, our house went up 30% this year. That's nuts.

Perhaps zillow is more right than wrong, but...

They got the year built right, but the sqare footage is only for the first floor and we have 3 floors (plus garage). The land is also subdivided with 8 acres (not 1 as listed in Zillow) with the house, along with our additional land adjoining the home.

I can only guess part of the reason for the disparity is you can't see the house from the road?

All that said, I have seen examples where the site seems to be spot on, but no where near in our case.

 

[MoKelly]

According to Zillow, our house went up 30% this year. That's nuts.

Hopefully your property taxes are not based on Zillow estimates.

MoKelly

 

[deezler]

What really scared me was an article about the average American not being able to pay for an emergency $400 expense. Really? People are that broke? Then how are affording these huge homes and mortgage payments?

.... those are different people. The separation of wealth in this country grows ever wider. Have and have-nots. Almost no true middle class left.

 

[crashz]

Zillow has our estimate up 48%. We did put a new roof on though. And minor cosmetics.

 

[MoKelly]

.... those are different people. The separation of wealth in this country grows ever wider. Have and have-nots. Almost no true middle class left.

This shows a very steady (but increasing) rate of home ownership in the US.

It’s higher than I would have guessed.

MoKelly

 

[deezler]

whoa, higher than I might have guessed also.

Click through the link to see a bit more context on recent trends. Almost hit 70% before housing bubble burst, dipped to 63%, now rebuilding steadily. Hope it holds this time.

U.S. homeownership rate 2024| Statista

The homeownership rate in the United States declined slightly in 2023 and remained stable in 2024.

www.statista.com

 

[MossRoad]

Hopefully your property taxes are not based on Zillow estimates.

MoKelly

$500 per year.

 

[MoKelly]

$500 per year.

Wow. Good for you.

I can’t calculate in my head the % higher amount I pay!!! I won’t use a calculator either because I don’t want to know.

MoKelly

 

[Frankenkubota]

I think there are a good number of folks who are “equity rich” and “cash poor”.

MoKelly

mom used to tell me i was always house poor. big house, no furniture.

maybe that's why i'm single although, now it's small house, no furniture!

 

[MoKelly]

mom used to tell me i was always house poor. big house, no furniture.

maybe that's why i'm single although, now it's small house, no furniture!

Well - you really only need a bed, chair and table. Anything more is excess!
MoKelly