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Double what we’re worth
January 3, 2013 - Blaine Hyska
The U.S. House is expected to vote on a $60 billion relief package for Superstorm Sandy victims. The money will help pay for damage claims from home and business owners.
Hurricane Sandy was the most costly natural disaster since Hurricane Katrina in 2005, officials say.
I’m all for these relief efforts, but one must remember where the money is going. By Upper Peninsula standards, this is the Ritz — high class, uptown, big money, yachts, swimming pools, etc.
If you’ve checked out the storm pictures (who hasn’t), you’ve seen the damaged homes. You may have also noticed their location in relation to the Atlantic Ocean.
Do you know what an ocean-front house on the East Coast goes for? Don’t bother, I have it here.
On one real estate website, an ocean-front home in Bethany Beach, one of the disaster areas, goes for a half a million dollars for a 1,060-square-foot condo, all the way up to $7 million-plus for seven-bedroom, seven-bathroom gem.
We’re not talking about a camp in Trenary here.
That’s not all.
The median value of a house in Iron Mountain is $71,522, and the per capita income is some $21,481.
In Bethany Beach, the median house is worth $645,887, and the income is $44,501.
Delaware City, another hard-hit area, boasts a median home value of $216,532, and household income of $47,371.
And let’s not forget New Castle, Delaware, with median home value of $230,012, and household income of $56,711.
That’s more than double what we’re worth.
So next time you’re wondering who’s going to hold the ladder when you have a storm-damaged rain gutter, or give you a hand when a tree limb falls onto your garage, remember a couple of those 800 numbers for Hurricane Sandy relief.
Who knows? Bruce Springsteen may have a free weekend.
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