I recently read an article in the LA Times about how the median cost of an LA county house has breached the 500k mark. Half a million bloody dollars! That's like buying 20 houses in Alabama. Okay... I exaggerate - a hair. Maybe five houses. Nice ones.
Ms. and I have been mulling over the idea of investing in an LA condo or NY co-op. We are bi... coastal. Bad joke? Contemplating such a purchase involves a lot more than signing over half your pay check each week to Fidelity. For us, being an unmarried couple, it involves all sorts of things I've never heard of - gifting taxes, rights of survivorship, [insert more things I don't know]. It is completely overwhelming.
I realize though, that people dumber and less resourceful than us purchase houses every day. It's small comfort; 500k is still a lot of money. But if nothing else, I hear they make good pie in Alabama.
Cheers,
Miss
No comments:
Post a Comment