Gary,
Couldn't agree with you more. But I grew up in what we call the 'Bible Belt' here in the US, our southern states including Texas. That misquote was what I was taught, and it took my entire lifetime up until the past year or two to get over to some extent the negative image associated with being aquisitive of anything, even the basic necessities.
I can still be thrown into guilt mode if I post something that someone responds to with commentary along the lines of "Everybody just thinks about money. Money isn't everything. I'm perfectly happy without money."
And someone invariably does. I posted a series of three installments of an article someone else wrote in my Money 101 forum and caused quite a backlash among some of my readers. I was roundly scolded for it by some of them.
Sometimes we need to just get away from everyone else's reaction and think it through for ourselves. Then we can get back on the right track.
Weird, I came here to answer your quesion, and look what came out. I must be taking things too much to heart.
To answer your question, the US has vast regional differences in home values. I live in Utah, and more particularly the Wasatch Front which includes Salt Lake City and about an hour's drive to the north or south. Our market is red hot, just coming out of a period where our prices were flat--unlike rest of the country where property was appreciating rapidly. Now we're playing catch-up. Our average home price is around $225,000, for a 3 bedroom, 2 1/2 bath home of 2100-2500 square feet (usually including a basement in that measurement). That's up from $167,500 only two years ago, and still climbing rapidly.
There are parts of the Midwest and South where a home the same size would run between $60,000 and $100,000. In California or New York, you might have to pay close to $1 million for the same one. Don't ask me how people manage to live in those places. Maybe that's why our country is ravaged by debt.
Sorry for the super-long post. I could go on for another two or three pages, but I won't.
Cheri
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