We bought our house in Phoenix 4 years ago for $350K, a 3500 sqt house with a large swimming pool and decent landscape, plus a lot of upgrades such as marble bathrooms, wood floor and granite counter tops. I believe it is very close to the cost of construction. The same kind of house in our subdivision was sold over 600K 2 years ago, and now the price came down to less than 500K. But I don't care about the fluctuation of the housing price or mortgage rate since I paid cash - one advantage of living in a paid off house.
The housing price in US is actually very low except for CA, NYC and DC areas. I have friend in Dallas who paid $240K for a 6 bedroom new house.
The housing price in US is actually very low except for CA, NYC and DC areas. I have friend in Dallas who paid $240K for a 6 bedroom new house.
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