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You can get a 1BR starter home for around 40-60 grand where I am. That's astonishing because that would barely have bought you a cardboard box in a downtown alley a few years back. From that perspective it's nice to see home prices readjust, because they were fetching some truly ridiculous and unaffordable dollar amounts - to the point where responsible first time homebuyers couldn't afford a house unless they turned irresponsible and got one of those famous sub-prime loans.
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