Anybody else extremely depressed over real estate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

[Anonymous]

I remember this post from last year.

OP, were you ever able to buy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

[Anonymous]

Yeah, not sure why we should be comparing homeprices to bumblefck Iowa.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

Second tier cities like Denver, Miami, Portland, etc., outside the premier five or six metro areas like LA, SF, NY, Boston, etc. DC compares excellently against the premier metros though, for which DC is very affordable.

https://cdn.nar.realtor/sites/default/files/documents/metro-home-prices-q4-2023-ranked-median-single-family-2024-02-08.pdf

I don't care how they rank specific and somewhat arbitrary sub-components like DC proper or Brooklyn, this is about metro areas, but even then DC has a high income for its cost of living.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

the only cities comparable to DC that might be able to compete in terms of real estate prices are chicago and philadelphia. everything else worth going to (e.g. nyc, Boston, SF...) is even more expensive.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

that sounds about right. this it the capital of the US.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

that sounds about right. this it the capital of the US.

People can afford to buy homes in the capital of the richest country in the history of the world and they're complaining that they want prices to resemble Omaha.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

that sounds about right. this it the capital of the US.

People can afford to buy homes in the capital of the richest country in the history of the world and they're complaining that they want prices to resemble Omaha.

+1

[Anonymous]

It's almost like demand causes prices to be higher in certain areas compared to other areas.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

Second tier cities like Denver, Miami, Portland, etc., outside the premier five or six metro areas like LA, SF, NY, Boston, etc. DC compares excellently against the premier metros though, for which DC is very affordable.

https://cdn.nar.realtor/sites/default/files/documents/metro-home-prices-q4-2023-ranked-median-single-family-2024-02-08.pdf

I don't care how they rank specific and somewhat arbitrary sub-components like DC proper or Brooklyn, this is about metro areas, but even then DC has a high income for its cost of living.

That Newark and Miami-Fort Lauderdale-West Palm Beach is more expensive than DC on your list makes me suspect and that it's a case of rigging municipal boundaries to distort the picture.

But even your list accepts that DC is more expensive than the vast majority of cities and municipalities in this country. Just about every city more expensive than DC is still a California/NYC/Boston area municipality or a fancy resort town. Which means most Americans live in cheaper markets than DC. So you are not "fortunate."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages.

Home prices in this area are still reasonable. And they are not even close to the Bay Area. Median household income in DC area is 117, compared to 128 in SF metro.

Compare regional home price increase to inflation over the last three years. Then get back to me at how out of line things are.

+1
we just bought a large older townhome in a walkable safe area, with great schools and close to metro for less than 1mil. we overstretched but the value is such that it is going to go up. it's not that expensive. we are nowhere close to bay area prices.

LOL. No, home prices in this area are ridiculous and homes in this area are generally garbage. But please, pretend the entire rest of the country outside DC and the Bay area doesn’t exist.

DC sucks, sorry.

Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.

What other second tier large metro areas? Mildly curious.

According to this, DC is in the top 10 most expensive cities in the US. #10 to be exact, but the list also includes Brooklyn separate from Manhattan and all of Orange County along with LA, SF and San Jose. Only Boston and Seattle (no surprise!) are the real other non-California mainland US cities more expensive than DC. Which makes sense.

https://www.kiplinger.com/real-estate/605051/most-expensive-cities-in-the-us

Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities.

that sounds about right. this it the capital of the US.

People can afford to buy homes in the capital of the richest country in the history of the world and they're complaining that they want prices to resemble Omaha.

+1

If “can afford” means “house poor”, then ok.

Are those of you defending this realtors? Because incomes have NOT gone up anywhere close to the cost of housing.

[Anonymous]

Anonymous wrote:It's almost like demand causes prices to be higher in certain areas compared to other areas.

It would help if we stopped allowing corporations, non citizens, and foreign countries to buy our land and housing. Also limit the number of homes anyone can own for just investment purposes.