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$600,000 is affordable? How about smart? I don't mean to chide, but $600,000 for a cookie cutter tract-home is down right absurd. California is nuts.
by monkmartinez 10y ago
$600,000 is affordable? How about smart? I don't mean to chide, but $600,000 for a cookie cutter tract-home is down right absurd. California is nuts.
- fossuser 10y agoThe comparison is 2million in Palo Alto for an attached townhouse ~2200sqft. You might be able to get an 800k house in a bad neighborhood (east palo alto) that's 1100 sqft. Friend in Buffalo is buying a house for 120k, difference is extreme.
- leesalminen 10y ago> Friend in Buffalo is buying a house for 120k, difference is extreme. Buffalo is an extreme example, both nationally and inside Buffalo itself. The most expensive single family homes in the city are ~$1.5MM [0]. These are mansions built in the early 1900s right on a beautiful park. Alternatively, you can buy an almost condemned house in a bad neighborhood for ~$5,000 [1]. People actually live in those places. [0] http://www.zillow.com/homedetails/82-Meadow-Rd-Buffalo-NY-14216/ http://www.zillow.com/homedetails/82-Meadow-Rd-Buffalo-NY-14... [1] http://www.realtor.com/realestateandhomes-detail/647-Norfolk-Ave_Buffalo_NY_14215_M46166-25420?row=4 http://www.realtor.com/realestateandhomes-detail/647-Norfolk...
- Spooky23 10y agoBuffalo is a rust belt place that has been in the wane for decades. A decade ago, they were razing 50 houses a month.
- shostack 10y agoAnd I'll bet the average salary and job prospects in Buffalo are reflective of the low house prices.
- codeddesign 10y agoIf you live in rural Kentucky, housing in many parts of Florida would be considered absurd. Comparing costs of living in wages against locations is apples and oranges. You can get a home with 2000sgft in Montana with 50 acres for the same price as a cookie cutter home in a subdivision in North Carolina. Housing is based on numerous economic factors including wage and comps (what other people have been willing to spend on similar homes in the area)
- sidlls 10y agoThe difference between the housing market in the Bay and almost anywhere else is an extreme caricature of your analogy, though. At some point all analogies fail to provide an adequate description, but yours fails almost out of the gate here, in my opinion.
- deleted 10y ago[deleted]
- EpicEng 10y agoIt doesn't scale though. I live in SD (moving to Austin) and the cost of living to income ratio is simply better elsewhere.
- laughfactory 10y agoAbsolutely. We're looking to move as well. Can't handle the cost of living here in SD.
- John23832 10y agoMcMansions are pervasive in all states/cities. And their overpricing is a common. It's not California, it's the American economy, built upon housing.
- aianus 10y ago$600,000 for a house in California sounds pretty cheap to me too. That's the price of an apartment in Toronto and even senior software developers here are lucky to clear US$80,000 a year.
- laughfactory 10y agoYeah but it's well known the housing market in Toronto is crazy too...
- stuxnet79 10y agoToronto dev here. How many years qualify you as senior in the city? On average how likely is it to score six-figures (CAD) within let's say 4 years? Definitely not staying here long term. Gonna try to move down-south where developers are better compensated and cost of living isn't so much.
- st3fan 10y agoIf you look on realtor.ca, you can find many many apartments in Toronto for less than half of that.
- davidw 10y agoYou could buy a huge house for that here in Bend, and we're probably at or near the top of the latest real estate cycle. It's almost as dry as San Diego here in theory, but a heck of a lot colder in the winter.
- EpicEng 10y agoIt is, which is a big part of my decision to move from SD to Austin in two weeks. I make the same salary and cost of living is ~30% less.