How can people afford these:
They start with a condo. Or avoid certain areas.
“California still accounts for the most cities with million-dollar starter homes, but New York and New Jersey are driving the fastest growth. Nationwide, the typical starter home is worth $198,649.”
DB2
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I think the article used misleading wording.
A typical “starter home” is defined for this analysis as a home in the lowest third of home values in a given region.
So really it is saying some cities are expensive. For example, there is one city on their list in Utah. That’s probably Park City, right? People aren’t really buying “starter” homes there. They are wealthy individuals buying second homes.
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This popped up on Reddit. Actress Katherine Heigl just listed her Park City area home for $10.6 million.
Surprising to me that I wouldn’t even rate Heigl as B-list, and she has that kind change for a mountain home.
The whole conversation is absurd because obviously people have different definitions of “starter home”. My starter home was 920 sq ft, 3 small bedrooms, small kitchen (no dishwasher), dining+living area, and ONE bathroom. No garage or carport, just a single car driveway. No walk in closets. And one simple corded telephone line. It was about $50,000 in 1975, the mortgage was $40,000 at 8.5%.
This definition of starter home is 3500 sq ft, 5 bedrooms, 4 1/2 bathrooms, 3 car garage, gourmet kitchen, living room, family room, dining room, perhaps a butler’s pantry, walk-in closets everywhere. And at least one phone line per person in the household, cable, Internet, etc.
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Indeed. But one never knows.
At the prime of her career, Katherine was one of the highest-paid actresses on the planet. After earning $6 million for both “27 Dresses” and “The Ugly Truth,” her salary doubled to $12 million for “Killers” and “Life as We Know It.” For the 2012 movie “One for the Money,” she earned a career-high $15 million. From these five roles alone, Katherine earned $51 million in base salaries.
In 2022, inspired by the lifestyle at her family’s animal sanctuary in Utah, Heigl launched Badlands Ranch, a direct-to-consumer pet nutrition brand…The company focuses on ultra-premium, air-dried dog food…Even applying a highly conservative average of $30 per unit across 9 million products sold, the company has generated roughly $270 million in lifetime gross sales in just four years.
DB2
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I got into the wrong line of work! I only knew her as Izzy Stevens from Grey’s Anatomy. Not a major character in an ensemble cast. And I didn’t think she was that good. Apparently the movie business pays pretty well.
And that’s why people go off to Hollywood. And then Heigl went on to make even more money with her successful company…
Have you ever considered cat food?
DB2
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Grey’s Anatomy is still in production decades later. I bet the TV royalties eclipse her movie work.
intercst
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