Housing Affordability Debate
Users discuss and debate stark regional differences in house prices, contrasting multimillion-dollar homes in high-cost areas like the Bay Area with affordable options under $200k elsewhere, often tying affordability to local incomes and salaries.
Activity Over Time
Top Contributors
Keywords
Sample Comments
Pretty cheap considering average house costs $6-7 million.
Still great $$ if you live in a reasonable location. Where you can buy a reasonable house for $200k instead of $2M
In some places houses cost less than $150k..
Is your home worth between $1 and $1.5M ?
They could have not bought a 1.2M home...
Seriously, you do understand the concept of different costs of living, right? Your astonishment at paying $0.5MM for a house is irrelevant; that's the going rate and probably cheaper than renting in that area.
Homes there are going for at least 500k now, I think…
Median income of $30k doesn’t seem congruent with house prices?
Only if the house is less than 500k
It's wild. Single family houses are being listed at $2M-$3M and going for $1M over asking. And the houses would often be considered fairly modest anywhere else in the country.I imagine a lot of buyers can afford this by selling their existing homes. Or perhaps they socked away a huge nest egg during after an IPO or over the duration of the stock market run up.But new homebuyers would need to earn about $750k+/year for the foreseeable future for this to make financial sense. That