10 least affordable places to live in America
Plus the percentage of average wages required to buy the median home in the area
1.Brooklyn, NY — 121.70%
2.Marin County, Calif. — 118.10%
3.Santa Cruz, Calif. — 113.50%
4.San Francisco, Calif. — 94.60%
5.Maui, Hawaii — 92.80%
6.San Luis Obispo, Calif. — 90.40%
7.Napa, Calif. — 86.90%
8.Monterey, Calif. — 84.50%
9.Queens, NY — 83.60%
10.Sonoma, Calif. — 82.10%
I have posted before that not only people leaving SF are driving up the property values of the wine counties north, south and east of SF.
We have Chinese ponying up cash, and SF expats, LA expats, NY expats, Houston expats, and Canadian expats ponying up cash for homes. This drives the prices up for buyers and renters.
California property will be much cheaper after the next big earthquake.
Florida property will be much cheaper after the next big hurricane.
Patience, the rich folks got just as much patience as money.