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Reply to "Anybody else extremely depressed over real estate?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes. The prices of homes in this area are unrealistic. It's not like we have silicon Valley wages. [/quote] 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.[/quote] +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.[/quote] 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. [/quote] Except DC home prices are comparable to many similarly second tier large metro areas that have far lower income levels. We're lucky here.[/quote] 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 [b]Cities that are cheaper than DC: just about all cities in the US outside Boston, Seattle and the California cities. [/b] [/quote] that sounds about right. this it the capital of the US.[/quote] 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.[/quote] +1[/quote] 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. [/quote] Yes or they bought their house in 1995 and insist it’s the same market. [/quote] My friends who live in Europe think house prices in our large NE city are still cheap! [/quote] Where in Europe?[/quote] Several countries including Netherlands which is not a big foreign money attractor.[/quote] Housing in desirable areas of Amsterdam are expensive. But there's also much more affordable housing elsewhere in the Netherlands. On the whole, European housing is more expensive but it's not always more expensive. Depends on what you're looking for and where. And depending on the country the mortgages are also different and people are able to take out bigger mortgages on smaller incomes. Americans do get more money for housing. [/quote]
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