Quote:
Originally Posted by joey2665
I honestly would not say people buying these homes necessarily have deep pockets. Remember you can buy a million dollar home with 250k down doesn’t mean your pockets are deep.
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I'm sure we are not talking about the same homes, the "million" dollar homes are the working class, the ones being built probably spend more than a million of the breaker, dock and beach. Then another million on all the retaining walls needed to turn 3 lots into one mcmansion lot with parking for 20 cars. And then plop a multi million dollar home on the lot, landscape it, furniture, etc,,, Must be at least $10+ million with the cost of the land, maybe double that is some cases. All for a home used for potentially 4 months on every other Saturday. Yup, those are deep pockets for sure, no doubt in my mind. Most are probably paid for by some trust, or corporate account, or other means as people with real money have zero income and pay zero taxes, its all done in ways not accessible to the regular joe.