Right, and a house is a liability as well as an asset: at that sort of price, the main cost of owning the house is the ongoing maintenance, utilities, etc.
In NY state, I think the main cost of the house is going to be property taxes. I don't recall the rates, and don't care to look them up. But I do recall (when the subject has come up) that my sister-in-law in Alden, NY (small town 30 miles east of Buffalo) pays ridiculously high property taxes in comparison to what we pay here in Redmond, WA.
