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Real Estate
Reply to "Have prices the last month jumped the shark?"
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[quote=Anonymous][quote=Anonymous]House prices in NOVA at least are still very cheap compared to incomes... mostly because there remains a massive amount of buildable land, but that is slowly starting to change. I don't think even current prices are close to being out of line when you consider this is arguably the wealthiest, on average, place in the country.[/quote] On average I don't think that's very true.. NOVA is one of the least affordable parts of the US and I think it's fair to say NYC/LA/Seattle/SF are at least a tier or two above the suburbs of DC. Wages here don't equate to what a family home can afford here. A huge part of the workforce is working for/with the government and they usually don't have 200k salaries. If the average family home is 700-800k+, how can someone with two kids and a single income afford a home? Yes they can live in a TH but there are plenty of places where you can earn 60-80k and buy a house for under 200k. [/quote]
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