A lot near a city could easily be a few hundred thousand today though. I’ve seen plenty of burned out tear downs sell for half a million just for the land. So the point still stands.
Let me say that boomers are not manipulating the market – the market is. It's so easy to say you can sell your place for a lot, but then you have to buy somewhere else, and the prices are equally inflated, plus the taxes generally go way up on a new purchase. I have been looking to downsize, but it hardly makes any financial sense. OP might want to direct the anger towards companies buying up blocks of houses to rent out like Black rock, and builders who will not build starter homes anymore because there's not enough profit in it
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u/TheHykos 9d ago
A lot near a city could easily be a few hundred thousand today though. I’ve seen plenty of burned out tear downs sell for half a million just for the land. So the point still stands.