Posted on 06/23/2016 12:29:00 PM PDT by ChicagoConservative27
The most unaffordable place to live in the US is not San Francisco or Manhattan. It’s Brooklyn.
A person earning the average salary in Brooklyn cannot afford the average home there — even if he could spend his entire salary (and then some) on housing, according to a survey released Thursday by real estate firm RealtyTrac, which looked at home sales price data in 417 of the most populous counties in the US as well as average wage data from the Bureau of Labor Statistics. The second- and third-most unaffordable places in America are Marin County, Calif., and Santa Cruz, Calif. — both of which would also require the average wage earner to spend his or her entire salary and more to buy the median home in the area.
In each of these three cases, many people — priced out of Manhattan, San Francisco and San Jose — are moving from the pricey city center to Brooklyn, Marin County and Santa Cruz, respectively, which is pushing prices there up, says Daren Blomquist, vice president of RealtyTrac. Meanwhile, wages in those counties aren’t keeping pace with the home price appreciation, which makes these three areas the most unaffordable in the nation for residents looking to buy. (Note that the average home prices in Manhattan, San Francisco and San Jose are still higher than in Brooklyn, Marin and Santa Cruz, but so are the wages.)
(Excerpt) Read more at nypost.com ...
Stupid article.
BUY A TINY HOUSE!!!
But Obama fixed the economy! The media told me so!
This doesn’t make any sense, because few people who live in Brooklyn work there. That’s why they have all those subway lines running into Manhattan....
Absolutely ridiculous what trendoids have done to Brooklyn. Middle-class and lower-middle class people forced out into Queens which will become the next hot spot if it hasn’t happened already. Queens!
What we really need is a revitalization of the Grand Concourse in the Bronx. I’ve been waiting 30 years for that.
Go home all you trendoids!
Brooklyn - it’s where ‘poor’ Geraldine Ferraro lived.
Home of Forrest Hills and the US Open Tennis Championship.
Some of the largest mansions I’ve ever seen.
OOPS!
Queens, I meant Queens.
That isn't all of it but a big part of it.
And if that Seddique Mateen can have a beautiful house in FL which was valued at 200K plus, I would think a whole lot more, and an immaculately manicured lawn, well then many of the rest of us can't afford a house like that or don't want to be on the line for high mortgage payments.
So yes buy a smaller house or maybe one of those little wooden shacks on wheels (some are kind of cute) but why should people who work in this country have to do that??????????????
Marin County, CA is a beautiful place, but there’s very little opportunity for new construction. It’s always been pricey, but priced out SF commuters are driving it up further still.
Try Sierra Vista, Arizona, for sumeplace better.
Zoning makes housing unaffordable.
Try Dillon Beach ( Far Northern Marin County)
Oakland CA is the hotspot because the soaring prices in SF sent people across the bay.
Nothing new here. People live where they can afford to live. That’s the way it’s been forever.
I was born and raised in Brooklyn until age 11. My dad was a Corrections Officer and my mom stayed at home. What happened?
Do you remember the old Paradise Theater on the Grand Concourse? My father’s bar-mitzvah was there.
Oh, it’s pretty much all out of my price range. But, if that were to change, I’m partial to Stinson Beach. Where I am, a half million buys a very nice 4,000 sf house with three car garage and pool. There, if you can find it, that might get an old 2 br 1 ba cottage on a tiny lot in dire need of repair.
No, sorry. Both my parents were Brooklynites. From a time when Brownsville was pronounced ‘Bronzeville’ because that’s how the German population pronounced it. My mom lived in Bronzeville and my dad actually lived on Chauncey Street - where the Honeymooners lived.
I was born in a Trump hospital in Queens. Jamaica.
If you live in Stinson, you better really enjoy it because there no way in or out on weekends.
Been about ten years since I was last there. Has it turned into a major destination since then? Pity, if so. I drove over from SF on Labor Day weekend with minimal traffic beyond Muir Woods at that time. Public beach wasn’t even full, but they had flagged it for no swimming due to shark sightings.
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