$1 Trillion and Saving Money While Flipping Property
No comments yetIf you had $1 trillion how would you spend it? For house rehabbers, it is still too hard to imagine how much $1 trillion is. That’s even if a lot of investors became millionaires from flipping property.
An online writer, however, tried to illustrate how much that money really amounts to. He chose $1 trillion because it was the amount of the fiscal deficit. That means the governments spent that much more than it took in. Be ready house rehabbers, here we go.
One of the examples the writer used was single family homes. The national median price for existing single-family homes in May was $179,400, according to the National Association of Realtors. And with that price, you’d be able to buy 5,574,136 typical American homes with $1 trillion. Could you actually imagine how much land it would need to host 5.6 million homes? This example is perhaps easier to understand for those in the flipping property business but it still in unbelievable, right?
And for house rehabbers who love cars (who doesn’t?) you’ll be able to buy 40,816,326 new cars costing $24,500 each. That’s equivalent to around 30% of the 135 million cars in the country.
Another example those flipping property will find interesting is the salary of households. The median household income in the U.S. was $52,029 in 2008. With that, you can replace the annual incomes of around 19.2 million American families.
We house rehabbers will never probably earn $1 trillion by flipping property. But hey, just thinking out loud.
