Anybody else extremely depressed over real estate?

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

it's pretty special TBH. i am an immigrant and when i tell people (foreigners) i live in DC, they are impressed. they consider it a real, important city, not that different in importance/glamour from NYC.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

If you hate this minor, nothing special about it, city so much, why are you here? Seriously? I'm not being flippant. Is there a reason why you can't move to some place cheaper? If you say it's because your jobs are here, you must be able to find those same jobs elsewhere, since there's nothing special about DC.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

If you hate this minor, nothing special about it, city so much, why are you here? Seriously? I'm not being flippant. Is there a reason why you can't move to some place cheaper? If you say it's because your jobs are here, you must be able to find those same jobs elsewhere, since there's nothing special about DC.

Your response is 100% illogical so your gotcha attempt falls flat:

-"If you hate": There was not mention of "hate" of DC
-"nothing special about it": There wasn't a mention of DC not being "special", the statement was DC is not as special as you think it is, there is a linguistic and meaning difference; the word "special" is subjective and so subjective that it is almost meaningless anyway
-"Why are you here": People cannot always live in places they find to be super duper awesome and special (but see two points above, no one said DC isn't special and the word special doesn't mean anything anyway)
-"you must be able to find those same jobs elsewhere, since there's nothing special about DC": it is possible for jobs to be location specific to non-special places. You may not find logging special, but you can only do logging in particular special places.

_

[Anonymous]

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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.

Yes or they bought their house in 1995 and insist it’s the same market.

My friends who live in Europe think house prices in our large NE city are still cheap!

Where in Europe?

Several countries including Netherlands which is not a big foreign money attractor.

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.

Average house in Netherlands is 460k euros, average HHI is 30k euros. The US is dirt cheap by comparison.

Average house price in the US is $417k, which is about 400k euros but given the vastly bigger scale of the US it really means little. The Netherlands isn't expensive by American standards.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

If you hate this minor, nothing special about it, city so much, why are you here? Seriously? I'm not being flippant. Is there a reason why you can't move to some place cheaper? If you say it's because your jobs are here, you must be able to find those same jobs elsewhere, since there's nothing special about DC.

Your response is 100% illogical so your gotcha attempt falls flat:

-"If you hate": There was not mention of "hate" of DC
-"nothing special about it": There wasn't a mention of DC not being "special", the statement was DC is not as special as you think it is, there is a linguistic and meaning difference; the word "special" is subjective and so subjective that it is almost meaningless anyway
-"Why are you here": People cannot always live in places they find to be super duper awesome and special (but see two points above, no one said DC isn't special and the word special doesn't mean anything anyway)
-"you must be able to find those same jobs elsewhere, since there's nothing special about DC": it is possible for jobs to be location specific to non-special places. You may not find logging special, but you can only do logging in particular special places.

_

Oh, so you're just looking for a reason to btch and moan. Got it.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

If you hate this minor, nothing special about it, city so much, why are you here? Seriously? I'm not being flippant. Is there a reason why you can't move to some place cheaper? If you say it's because your jobs are here, you must be able to find those same jobs elsewhere, since there's nothing special about DC.

Your response is 100% illogical so your gotcha attempt falls flat:

-"If you hate": There was not mention of "hate" of DC
-"nothing special about it": There wasn't a mention of DC not being "special", the statement was DC is not as special as you think it is, there is a linguistic and meaning difference; the word "special" is subjective and so subjective that it is almost meaningless anyway
-"Why are you here": People cannot always live in places they find to be super duper awesome and special (but see two points above, no one said DC isn't special and the word special doesn't mean anything anyway)
-"you must be able to find those same jobs elsewhere, since there's nothing special about DC": it is possible for jobs to be location specific to non-special places. You may not find logging special, but you can only do logging in particular special places.

_

Oh, so you're just looking for a reason to btch and moan. Got it.

"btch and moan" about what? In any event, it is a free country, people can "btch and moan" about whatever they want. But I suspect that you are not able to determine if someone is actually "btching and moaning" and the subject they are doing it about. But feel free to prove wrong--who is "btching and moaning" and about what topic?

[Anonymous]

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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.

Yes or they bought their house in 1995 and insist it’s the same market.

My friends who live in Europe think house prices in our large NE city are still cheap!

Where in Europe?

Several countries including Netherlands which is not a big foreign money attractor.

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.

Average house in Netherlands is 460k euros, average HHI is 30k euros. The US is dirt cheap by comparison.

Average house price in the US is $417k, which is about 400k euros but given the vastly bigger scale of the US it really means little. The Netherlands isn't expensive by American standards.

Median HHI in Netherlands is 30k euros, in the US median HHI is $76k. So yeah US housing relative to income is dirt cheap by Dutch standards or Italian standards or French standard or Chinese standards etc etc.

[Anonymous]

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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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

Nobody's digging any grave. However your assertions about the relative expense of DC are frankly BS. There is nothing particularly expensive about housing in the DC area compared to similar scaled and economically prosperous peer cities.

[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.

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."

do they also live a few miles from the president?

DP. Do people actually care about this? I have never heard people think Ottawa is just as good as Toronto or Montreal because that’s where the prime minister lives.

[Anonymous]

Politicians don't seem to think there any issues, up and down you barely hear this being a problem. But yea it's really a problem!!! My SIL is looking for 1 bd rm apartments in Tyson's are and rent is like $2600, buying is not even in the cards. I simply don't understand how people are dealing with this. Apparently new rental companies are popping up where they pay your rent and you pay them back on a schedule, a damn loan to pay rent? Wonder what else is going on out there...

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

100 percent agree. Why are such policies not even discussed?

I guess it’s not sexy enough for talking heads. Maybe too long term? Too abstract? Everyone should be asking all politicians about this and voting accordingly. Or maybe the Realtor lobby is too powerful and fights over it? Mostly it seems to just be ignored but our grandchildren are going to be really mad about our general apathy on the issue. It probably sounds like SoCIaLIsM to 1/3 the country and they’d rather be house poor and see their children house poor just to own a condo in 30 years than dare to approve of something that would benefit them and their children.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

Nobody's digging any grave. However your assertions about the relative expense of DC are frankly BS. There is nothing particularly expensive about housing in the DC area compared to similar scaled and economically prosperous peer cities.

And yet incomes haven’t gone up the same so it’s irrelevant that other cities are also expensive.

[Anonymous]

Anonymous wrote:

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.

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."

do they also live a few miles from the president?

DP. Do people actually care about this? I have never heard people think Ottawa is just as good as Toronto or Montreal because that’s where the prime minister lives.

House prices in Ottawa are significantly higher than Montreal, but whatever.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

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."

70 million+ people in the US live in metros with comparable or high housing costs than DC. DC isn't so special. And it compares very favorably with its peers for affordability... with very high incomes.

Which means 250 million Americans live in cheaper metro areas, no?

Honey, you are digging your own grave pretending DC isn't an expensive market.

it's not expensive for a major city. ("no, no it's not a major city, it's just a city where presidents live")

Just because a president lives in a city doesn't mean it is a major city.
You want DC to be more special than it is.

it's pretty special TBH. i am an immigrant and when i tell people (foreigners) i live in DC, they are impressed. they consider it a real, important city, not that different in importance/glamour from NYC.

Lol