• FReddit@lemmy.world
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    1 year ago

    I got a little inflation story for you …

    My father bought a house inSan Francisco in 1959 for about $60,000.

    Now it’s worth around $4 million.

    And no, I did not benefit from this. He embezzled client money and lost everything, which he richly deserved.

    • CapraObscura@lemmy.world
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      1 year ago

      My grandparent’s house was $10,000 in 1959.

      When my grandfather passed we sold it for close to $300,000. In a shitty small town in Texas.

      This is what happens when housing is sold as an investment and not a place to live.