I am 35 y/o and do ok, but not great, and still can’t even remotely afford a starter home in Westchester County, NY.
Housing is simply unaffordable and still way too high in most areas fo people under 40 y/o to afford.
Come to Vegas. We’re at 2000 levels, which was affordable then, and is a downright steal now.
Will it go down further here? It could, but there are tentative signs we’re bouncing along the bottom in Las Vegas.
I’m guessing Schiff is talking about the national average when he says we have 20% to go. This may be, but I suspect in the hardest hit markets much of the damage has already been done.
I zillowed a rather drab house on the market in Yonkers. Asking price is $450K with property taxes of $9K. That house would likely fetch around $160K where I live. I couldn't even find a house listed for $200K, just condos. The median household income for Yonkers is about the same where I live. Something doesn't add up...