[devane617]

In my hood, it costs about $500sqft to build a house. A lot will be 200k. So, for a 1500sqft home expect to be out about 1,000,000 at closing. Is that affordable? Oh, so drive a few miles you say and live cheaper...now the price is about 800k. That’s better.

[ClearCase_guy]

In my hood, it costs about $500sqft to build a house. A lot will be 200k. So, for a 1500sqft home expect to be out about 1,000,000 at closing. Is that affordable? Oh, so drive a few miles you say and live cheaper...now the price is about 800k. That’s better.

Note that quite a few people believe that young people could afford a home if they just stopped buying coffee at Starbucks. The problem isn't expensive coffee. The problem is $1M starter homes.

[MtnClimber]

That is crazy expensive. I live in FL and my house is 40% the cost of $500/sq ft and it is on a lot just over 1 acre, 150 ft of beach on a lake that is 3 miles across.

[AppyPappy]

You can buy a really nice house in Waverly, NY or Big Stone Gap, Va for $300k or the same size house in Boone/Blowing Rock NC for $1M.

[Crusher138]

Depends on how far you are willing to drive to.

My area became unaffordable to me 20 years ago. I sold my very small home in this expensive area and bought a 4 bedroom, 2.5 bath 3000 sqft home with just the proceeds in an area over 2000 miles away. The new area was safer, more affordable, and had better schools.

I had been earning over $100K a year and lived paycheck to paycheck in my old hometown. We now live comfortably on $50K a year and own my own business.

Very nice new construction homes around here are now $350K to $400K.

It can be done. You just have to pull the trigger.

[TexasFreeper2009]

Move out of the big cities and you can buy very affordable homes.

[millenial4freedom]

I hear you - but an important question to ask, what is the median family income in each area relative to those prices? Has that ratio declined significantly in recent years?

That's the understandable concern.