Saturday, September 01, 2007

How to afford a new house

Some interesting information:

How much money has Uncle Sam spent on New Orleans and the Gulf region since Hurricane Katrina ripped the place apart?.... The grand total is $127 billion (including tax relief). That's right: a monstrous $127 billion....

Perhaps all this money should've been directly deposited in the bank accounts of the 300,000 people living in New Orleans. All divvied up, that $127 billion would come to $425,000 per person! After thanking Uncle Sam for their sudden windfall, residents could head to Southern California and buy homes that are now on sale thanks to the sub-prime mortgage crisis and bid up the sagging house prices in the state.

I don't think you'd get much for your money in Southern California. You could, however, get a decent house in Delaware.

In flyover country, you could probably buy two houses with the money.


CGHill said...

There are two houses on my block for sale: with $425,000 you could buy both of them and have enough left over for a brace of Mercedes-Benz S-Class sedans.

miriam said...

CG: See what I mean? Houses are cheaper in the middle of the country.