4 ms·

I feel like we got really lucky.. We bought in 2014 and sold in the summer of 2019, moved and bought another place in October of that year. Interest was 3% and

I feel like we got really lucky.. We bought in 2014 and sold in the summer of 2019, moved and bought another place in October of that year. Interest was 3% and 3.5% respectively. Granted we moved from one southern major suburb to another in the Midwest...but the price wasn't that great of a jump. The author of this piece is using as a base line the two most expensive housing markets in America. That's not really representatives of 95% of people. It's understandable not being able to afford to buy in Manhattan, or San Francisco, but have they tried Dayton, Ohio, Houston, Louisville, maybe Orlando? Every single one of these articles about how outrageous, housing prices are always seem to hedge around this idea that buying a place is only worth it if you get to live in a very cosmopolitan, walkable neighborhood. Those are few, and in high demand, so it would reason they would command a higher price.

pixl97 3y ago
Unless you're working remotely those prices in Dayton are expensive as the local wages are much lower. People at the bottom end of income need places to live/rent too. And these days with collusion in the rental markets renting is a great way to go broke faster than ever.
- mcntsh 3y ago
  You can look at census data and clearly see that the median income/property price is much better in Dayton OH than NYC * https://www.census.gov/quickfacts/fact/table/daytoncityohio/INC110221 https://www.census.gov/quickfacts/fact/table/daytoncityohio/... * https://www.census.gov/quickfacts/fact/table/newyorkcitynewyork/HSG010222 https://www.census.gov/quickfacts/fact/table/newyorkcitynewy...
xnx 3y ago
> The author of this piece is using as a base line the two most expensive housing markets in America. That's not really representatives of 95% of people. Those two cities are expensive, but I think there are a lot of other expensive cities too (Austin, Los Angeles, etc.) I checked with Bard, and it looks like 9.2% of the US population lives in New York or San Francisco: "The New York metropolitan area is home to 22.1 million people, or 6.6% of the US population. The San Francisco Bay Area is home to 8.7 million people, or 2.6% of the US population."

pixl97 3y ago

Unless you're working remotely those prices in Dayton are expensive as the local wages are much lower. People at the bottom end of income need places to live/rent too. And these days with collusion in the rental markets renting is a great way to go broke faster than ever.

mcntsh 3y ago
You can look at census data and clearly see that the median income/property price is much better in Dayton OH than NYC * https://www.census.gov/quickfacts/fact/table/daytoncityohio/INC110221 https://www.census.gov/quickfacts/fact/table/daytoncityohio/... * https://www.census.gov/quickfacts/fact/table/newyorkcitynewyork/HSG010222 https://www.census.gov/quickfacts/fact/table/newyorkcitynewy...

xnx 3y ago

> The author of this piece is using as a base line the two most expensive housing markets in America. That's not really representatives of 95% of people. Those two cities are expensive, but I think there are a lot of other expensive cities too (Austin, Los Angeles, etc.) I checked with Bard, and it looks like 9.2% of the US population lives in New York or San Francisco: "The New York metropolitan area is home to 22.1 million people, or 6.6% of the US population. The San Francisco Bay Area is home to 8.7 million people, or 2.6% of the US population."