CGrindahl wrote:
... A neighbor bought a home for $780,000, then tore down the building leaving only the foundation.
People were doing that (may still be) for a time on some portions of the Outer Banks of NC. Buying and tearing down the small beach cottages and putting up 10 bedroom McMansions. Crazy if you ask me. I can only image what the hurricane insurance is, if you can get any. Talking about disposable income!
I actually turned down a job transfer with promotion a number of years ago before the recession. Wanted me to move to Pleasanton Ca. The equivalent of my house here would be about $1.2M there and forget about matching land size. The 40% increase in pay would not even begin to come close to making up the difference.
