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> Vineyard Haven, Mass., Jackson, Wyo., and Breckenridge, Colo., are the towns with the most expensive real estate in the U.S. These are resort towns. Rich peo
by chiefalchemist 2y ago
> Vineyard Haven, Mass., Jackson, Wyo., and Breckenridge, Colo., are the towns with the most expensive real estate in the U.S.
These are resort towns. Rich people buying larger (than typical for the area) 2nd, 3rd or more homes. If such activity is the majority of the sales then numbers are going to skew up.
That doesn't mean there aren't more reasonably priced homes. It just means those transactions aren't happening as often, that those people aren't leaving, that similarly income'd people are moving in.
Best I can tell the data being used is biased in a sense and perhaps not reflective of the whole of those markets.
- m463 2y ago> These are resort towns. ... numbers are going to skew up I would assume real estate prices for ski town would be really different and scale with the walking distance to a chair lift.
- theGnuMe 2y agoLol. You know nothing. There are NO reasonably priced homes in Jackson, Wyo. They have to import labor from Idaho Falls.
- chiefalchemist 2y agoThat might be true, but the article and the data doesn't say that. Instead it's biased in ways and it's important to be aware of that. Resort towns are not typical. The article might as well be titled "20 Outlier Housing Markets To Dilute the Housing Conversation." Regardless, importing labor is correlation. It simple means it's cheaper to bring in (temporary?) labor than to pay local rates. That may or may not be related (read: causation) to housing.
- theGnuMe 2y agoThe data? What are you talking about? Avg home price in jackson hole is $2M, median is $3M. Prices are $1000/sq ft, $2M/acre roughly.
- chiefalchemist 2y agoReference for that pricing? Is that current homes that are selling[1]? Property tax estimates? Where *exactly* are you getting these numbers? As it is, you're making an argument out of thin air. Please do better, else this is my final reply. [1] Home sales and ALL homes in a market is not the same thing. Average? That means a $100,000 price and $3.9M price = $2M average? See the problem? Again, what's actively selling is not ALL homes. And outlying higher number tend to skew things. That's not me speaking. That's simply how the math works under these circumstances. I don't make the math or the circumstance, I simply report them.
- theGnuMe 2y agohttps://www.homes.com/jackson-wy/sold/?so=1 https://www.homes.com/jackson-wy/sold/?so=1