What $390,000 buys you in Dallas/Ft Worth:
http://dallas.craigslist.org/search/rea?minAsk=380000&maxAsk=399000&bedrooms=3
The median where I live in MA is $800,000.00-——insane.
( I live in a condo—sold my home some time ago).
.
My late aunt lived in Santa Ana. Years ago she bought her house for $50,000 and thought it was overpriced. She’d be turning over in her grave if she saw home prices there today.
Pish! I would simply explain that I had just crossed the border illegally, and they would give me all kinds of stuff. Problem solved.
you couldn’t pay me enough to live in california
this has been tested...
Self ping for tomorrow
I lived in Santa Clarita before it was Santa Clarita (Saugus, Valencia and Canyon Country). The homes were decent, about 120-200K back in the 80’s. Certainly not worth 420K now and to only need an 83K salary/income to own one now?!!!
Where I live now I have a 180K (Purchased for 150K) home on a rather decent salary and given allllllll the other expenses I have to fork out to live within my means my wages are barely cutting it...Sorry, I’m calling BS on that nifty chart for CA.
The stats in the article are not in line with what we know of our local area.
I thought things were expensive up in Massachusetts, but this is a whole new level.
The average home price in my community is over $500k and annual property taxes are over $10k a year. Here in Fairfield county, you are either in a very nice area or an area that has grinding poverty. Parts of Danbury, Bridgeport and Stamford look like third world countries. Then you have Greenwich, New Canaan and Ridgefield/Wilton where even a starter home will run you close to a million dollars.
Either affluence or poverty. Not much in-between anymore.
Partly true. Multiple factors exist, including the big one called "location", great weather, jobs, shopping, entertainment, restaurants and schools. A big factor has to do with all the rich Asians moving here, for the most part from China. They are buying homes sight unseen through brokers. Many formerly white majority cities are turning Asian, many of them in Silicon Valley. Regarding legislation, stupid rental laws are indeed driving up prices of single family homes. Rent-control laws continue to remove or keep rentals off the market. I know more than a few friends who sold their rental properties because of that.
We’ll have overpriced homes without water.
My husband and I bought our first house when we were kids.(21yrs and I was 19) Home was in Pacifica,Ca and it was a whopping $18,000.which we could barely afford. It now is priced somewhere over $600,000.
Wish I still had the place.
Houses in my Silicon Valley area are going for well over $1M and selling in 3-5 days. Unreal.
A friend of mine grew up in Palo Alto. His parents worked at Stanford University. His parents bought thier house in 1955 for $28k. His mom still owns the house and is 85 years old. Rent on the house has financed her retirement in AZ very well.
As the cost of homes goes up, the number of desirable places to live goes down.
Yes, that's a lot of "assuming" for a 400K house.
If you have 80K in the bank for your down payment, I guess you could squeak by on 78K per year in CA.
Who writes this kind of article?
A crappy little (1300 sq ft) house down the street just sold for $1.03M. The asking price was $984k. It had 5900 sq ft lot, no landscaping, 1960’s bathrooms, tiny galley kitchen. http://www.zillow.com/homes/recently_sold/19661671_zpid/37.270958,-121.978685,37.267201,-121.98862_rect/16_zm/?view=map
Un-frikkin-believable...there were 4 offers the first day it was on the market.
Last year we remodeled our kitchen......the Hall Monitors in the planning dept. coast us at least 15k more than we planned to implement rules and regulations to help keep “stupid” people safer......
My kids will NEVER be able to afford anything around here......ugh!
It’s not so much legislated and regulated as simple supply and demand. The Merc today says there is 7 million sq ft of office space being built on the thin strip of land be Google east of 101. There’s probable another 5 million being built along 237 and North First St in San Jose. That’ll hold about another 100,000 workers all earning high tech salaries.
I thought about this article I read in Newser yesterday, linked from my ISP.
NASA: California Out of Water in a Year
Some of this is being done on purpose I am now convinced. Not all; nature still is as nature does. Then it gets blamed on us and our "carbon" footprints. I wish I knew to what end this is happening and who is behind it or bankrolling it.
CA did get a lot of rain but evidently not enough. I'm looking up what I formerly thought was kook stuff. Geo-engineering the weather.