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What are those starter homes?

I've got 500k in liquid assets, a respectable salary and no debts. I'm looking at the housing market and see two options: a junk house in a sketchy area for 600k or a decent house for 1.2M, but I'd have to give up financial security and live pay check to pay check.

If there was a smallish decent condo for 200k, I'd write a check today.



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