Bookmark.
Why the hell is Montana so expensive?
This is a comfortable old place in a small, rural TN town with some great neighbors. Because I didn't go for a McMansion (actually, this old place was described as a "mansion" by the appraiser when I bought it), if I lost my job tomorrow I would still wake up the next morning with a smile.
No one wants to live in flyover country.
Home sales are dropping but the prices never go down.
I live in Hawaii.
Been here 24 years.
Payed cash for my house when I moved here.
I don’t know how they figure costs, but I know my land alone
is worth 3 times what they say my house is worth.
based on what my new neighbors pay for raw land of a similar size to mine, which is developed.
It is true Hawaii is mostly un-affordable for locals.
That is due to regulations decreed by local politicians.
Don’t get me wrong I don’t want the hi density CA style housing tracts I grew up in.
But locals should have better access to local lands that Hawaii homelands just sit on.
I don’t understand what the numbers mean. What does 5:7 mean?
If I hadn’t paid for my home many years ago, I sure couldn’t even consider it now. Lucky to have it paid for some years ago.
Washington DC is not a state.
Not shocking about Florida. The housing is cheap but so is the salaries. Good news is most are retirees who move from northeast and sold their home for 800K and bout a home for 350K. Not needing a salary.
Read later.
Median Sales Price of Houses Sold for the United States [MSPUS] 1963 to recently:
https://fred.stlouisfed.org/series/MSPUS
There are a number of positive desirability factors that drive housing prices:
1. local climate (California, Hawaii)
2. airline service (LAX, JFK, Heathrow)
3. amenities (beaches, skiing, college town, mountains)
4. economic strength of an area (Greensville factories)
5. schooling K-12 (Scarsdale), university (vicinity)
Two economic factors that drive housing prices:
1. common stock ownership (Silicon Valley, metro NYC & Boston, Pelosi’s SF)
2. high-paying employers (...)
“location, location, location”
That was in common use 60 years ago.
A townhouse in the Upper East Side might have fetched $125,000 and a similar townhouse could be had for a tenth the price in some other parts of Manhattan.