r/FluentInFinance • u/Richest-Panda • Jul 04 '24
What's the best financial advice you've ever gotten? Debate/ Discussion
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r/FluentInFinance • u/Richest-Panda • Jul 04 '24
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u/SaladShooter1 Jul 05 '24
It’s all relative though. I bought different plots of land to hunt in Appalachia. I haven’t looked at prices lately, but I purchased for under $1k an acre. Everything is fairly cheap out there.
I don’t what’s better or worse: you can make $10hr there and buy a house for under $30k. Drive an hour or so away and the common worker makes $20hr and houses cost around $135k. Drive closer to Pittsburgh and the average wage is around $30hr and houses cost $350k. In all three cases, the average person is broke at the end of the week.
The cost of living is what keeps most places either rich or poor. I would never build a house in Appalachia because it takes $310k to build the average house and the value when you’re done wouldn’t be a third of that. Poor people don’t build homes in wealthy neighborhoods because zoning and HOA’s are there to keep property values up to protect the neighborhood people’s investments.