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Author Topic: Least Affordable U.S. Real Estate Markets  (Read 7880 times)

Sportsdude

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Least Affordable U.S. Real Estate Markets
« on: Aug 13 07 04:17 »
 1. Los Angeles
Median home price: $589,900
 Median household income: $58,319
 Recent affordable home sales: 3%

2. San Francisco
Median home price: $748,100
 Median household income: $79,676
 Recent affordable home sales: 6.7%

3. San Diego
Median home price: $549,200
 Median household income: $66,178
 Recent affordable home sales: 9.4%

4. New York
Median home price: $463,700
 Median household income: $67,419
 Recent affordable home sales: 6%

5. Miami, Florida
Median home price: $385,300
 Median household income: $50,173
 Recent affordable home sales: 10%

6. Sacramento, California
 Median home price: $365,500
 Median household income: $63,750
 Recent affordable home sales: 13.4%

7. Las Vegas, Nevada
Median home price: $310,100
 Median household income: $56,886
 Recent affordable home sales: 18.9%

8. Seattle, Washington
Median home price: $387,400
 Median household income: $76,104
 Recent affordable home sales: 28.3%

9. Boston, Mass
Median home price: $387,400
 Median household income: $76,104
 Recent affordable home sales: 28.3%

10. Orlando, Florida
Median home price: $267,000
 Median household income: $51,806
 Recent affordable home sales: 26.1%

[a href="http://www.forbes.com/home/media/2007/07/20/unaffordable-housing-property-forbeslife-cx_mw_0723realestate.html"]http://www.forbes.com/home/media/2007/07/20/unaffordable-housing-property-forbeslife-cx_mw_0723realestate.html[/a]


LOL!!!!!!!!!!!!!
Sacramento!!! You've got to be kidding. How in the world is that place up on this list.
   
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P.C.

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Re: Least Affordable U.S. Real Estate Markets
« Reply #1 on: Aug 13 07 04:49 »
What's wrong with Sacramento ?  I thought it was quite beautiful.
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lazy Marik

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Re: Least Affordable U.S. Real Estate Markets
« Reply #2 on: Aug 13 07 05:23 »
If Vancouver was on that list (I know it's an American list), where would it be?  

Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #3 on: Aug 13 07 05:32 »
 average house in Vancouver (city) $503,141
average median income $51,268

2005 stats
[a href="http://www.straight.com/article/the-promise-of-communal-living?#"]http://www.straight.com/article/the-promise-of-communal-living?#[/a]

So put that in american money

476,639
48,563

thus confirms the fact that you need to be well off to own a home. Because the average income can't afford a home.

Meanwhile the BC Liberals give tax breaks to the rich.  
I know its the west coast but that figure in american money is appauling.

Its Sacramento.
 
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49er

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Re: Least Affordable U.S. Real Estate Markets
« Reply #4 on: Aug 13 07 06:28 »

 
Many people were priced out in the SF Bay Area so they buy homes in Sacramento....I know of several people who do the 1.5 hr (one way) commute to the Bay Area daily and several who stay with relatives weekdays and return to families for weekends


Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #5 on: Aug 13 07 06:45 »
ah that makes sense. (not the commute though)  
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49er

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Re: Least Affordable U.S. Real Estate Markets
« Reply #6 on: Aug 13 07 07:03 »
compare to Canada, owning a home in the US is such a bargain..........when doing income taxes you get to write off  property taxes and mortgage interest against your income..........and up to $500,000 (for married couple) capital gains tax free when you sell.

            LOL!

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Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #7 on: Aug 13 07 07:16 »
Honestly for me, I'm not a house person. All they seem to become is one huge storage unit. You buy a house  and then you have to fill it. If I had a house I'd like the UK/Europe style terraced homes if I wanted a home.  You  would still get your garden in the back but at the same time governments save space decrease sprawl.



 
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49er

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Re: Least Affordable U.S. Real Estate Markets
« Reply #8 on: Aug 13 07 07:22 »
I see you haven't visited San Francisco.........that's how some neighborhoods are built

Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #9 on: Aug 13 07 07:35 »
yup. We need to build more homes like that.
 
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Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #10 on: Aug 13 07 07:46 »
Speaking of affordable homes. IKEA is in the home building business.


[a href="http://business.guardian.co.uk/story/0,,1961670,00.html"]http://business.guardian.co.uk/story/0,,1961670,00.html[/a]

[a href="http://www.boklok.com/"]http://www.boklok.com/[/a]

AWESOME.

 
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P.C.

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Re: Least Affordable U.S. Real Estate Markets
« Reply #11 on: Aug 13 07 08:26 »
Aaaa...yea.  Welcome to my shoebox.....make yourself comfy.  

  SD....that's a mighty big contrast to a log cabin or A-frame you were so fond of a short time ago.

  You couldn't GIVE me one of those places.....with free utilities and lifetime groceries.  
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Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #12 on: Aug 13 07 08:38 »
its affordable housing for the masses. People can't afford homes anymore. As I mentioned earlier if you make the median Vancouver average salary 50k. You can't afford a home.  
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Sportsdude

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Re: Least Affordable U.S. Real Estate Markets
« Reply #13 on: Aug 13 07 08:50 »

another good example. this is in Eastern Holland
 
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P.C.

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Re: Least Affordable U.S. Real Estate Markets
« Reply #14 on: Aug 13 07 08:52 »
Barracks.  Good is not a term I would use for this 'style' of housing.  
Sir Isaac Newton invented the swinging door....for the convenience of his cat.

 

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