Smeghead4761 said:
It is amazing what growth/urban sprawl can do to those starter homes, though.
(This is the SF Bay Area in CA, so a degree of unreality applies, but still)
My grandparents bought their first home, original owners, in San Carlos, CA, in 1949 (122 Sunnydale Ave if you want to look it up on Zillow.) My mom and her brother were 7 and 5 and the time. 122 sq ft, 3/1, single car garage. No idea what they paid for it, but it's $1.875 million now.
My parents bought their first home in Livermore, CA, in 1972 (no address, Mom still lives there). They were DINKs when they bought it, I came along in 1974. 3/2, 1600 sq ft, 2 car garage. They paid $36k for it. Appraised when my Dad passed earlier this year at ~$1.25 million.
Yep, it a good location, a real estate purchase can be the best investment there is.
I bought my first house in 1975 for $23,500...1300 SF, Sold it in 1999 for $135,000, Bought my current house in CS, 1850 SF, around $179,000 in 2010 and now worth about $550,000 on the tax records and have been offered $800,000,