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Hmm. You can find a nice townhouse in downtown Philadelphia for ~$500,000. Same for nice parts of Baltimore, Minneapolis, Pittsburgh, Chicago, DC, and so on. I
by eatonphil 3y ago
Hmm. You can find a nice townhouse in downtown Philadelphia for ~$500,000. Same for nice parts of Baltimore, Minneapolis, Pittsburgh, Chicago, DC, and so on.
I mean, NYC and SF and LA are expensive, yes. But there are plenty of great, affordable cities/metros in the US.
So I don't understand the premise of the article. Unless it's only talking about the SF/NYC/LA metro area.
- neilk 3y agoThe median wage in Philadelphia is $55K USD. A $500K townhouse is a good deal for some kinds of remote workers, but not for anyone else. EDIT: I found an interesting page about a useful metric - household income versus home price. You're right that it does differ by region and there are better deals in some places. But the ratio is becoming more unfavorable almost everywhere. https://listwithclever.com/research/home-price-v-income-historical-study/ https://listwithclever.com/research/home-price-v-income-hist...
- eatonphil 3y agoIt's not far off from the $400k houses in suburbs of Lancaster PA where I grew up. My family couldn't afford that personally but plenty of families with two working parents did. This was 20 years ago though so of course prices mean something different now.