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A comment on The house I was born in sold for $4000. Parent comment

Re:The house I was born in sold for $4000 by cmbaus on Monday May 27, 2013 @09:35PM (#5777513)
I don't think a house can be built for $12k. Houses in the rust belt routinely sell below replacement cost because demand is so low.
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Re:The house I was born in sold for $4000 by yyqux on Monday May 27, 2013 @09:40PM (#5777541)
Right, and a house is a liability as well as an asset: at that sort of price, the main cost of owning the house is the ongoing maintenance, utilities, etc.
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Re:The house I was born in sold for $4000 by mikestew on Tuesday May 28, 2013 @12:45AM (#5778124)
In NY state, I think the main cost of the house is going to be property taxes. I don't recall the rates, and don't care to look them up. But I do recall (when the subject has come up) that my sister-in-law in Alden, NY (small town 30 miles east of Buffalo) pays ridiculously high property taxes in comparison to what we pay here in Redmond, WA.
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