Posted on 04/03/2024 8:09:17 PM PDT by anthropocene_x
The number of cities where the typical home price is at least $1 million has dramatically increased over the past year.
There are now 550 U.S. cities where an average home is worth $1 million or more, according to a new analysis from Zillow.
The lack of available homes for sale is keeping prices elevated and pushing values even higher. Even as sales inventory has begun to tick up this spring, a typical home in the U.S. is currently worth 4.2% more than it was last year. Homes in million-dollar cities saw values grow 4.6%.
Zillow anticipates interest rate decreases could actually increase home values, as more buyers enter the market, increasing demand when supply is still tight.
(Excerpt) Read more at spectrumnews1.com ...
The homes are not worth more.... the money will just buy WAY less.
No, but your property tax will go up astronomically.
How about "the buying power of the dollar has dramatically decreased over the past year."
“worth” probably does not apply
What’s the increase in Trump’s properties these last few years?
Just wait til they drop the interest rate, before the election.
Exactomundo. And Zillow pumps up the value to no avail except their idiotic formula listings.
“Not on the Market” but here’s what they think it’s worth. Some people buy into this crap- as the worthless derivatives are still marketed in a dwindling expensive mortgage secondary market.
More likely these homes will be confiscated and subdivided and given to illegals.
My daughter sold her house in the country the first day it was on the market for more than she paid for it.
Moved to a wonderful house in town for many thousands less than she sold her house for. Sometimes life works.
Anyone remember the Weimar Republic?
>> How about “the buying power of the dollar has dramatically decreased over the past year.”
You mean to tell me that it’s NOT “shrinkflation”??!?
“Gradually, then suddenly”.
Just heard an opinion on a Christian station that Californians deserting the state were partly doing it due to house costs which he said were the result of absurd climate change regulations on all building. Property taxes go by the “value” the government assigns, and with all the high price places around the “average” is sky high, too. So average people are taxed for a mansion and don’t get much for it.
Average home is $1 million? Doesn’t that make Bidenflation 250% since 2021?
In cities where you need to earn the kind of money it takes to buy a $1 million house.
Come to Trump country and you can buy five very nice houses for that money.
Every government dollar spent on every illegal IS added to the official GDP.
Why would money spent on illegals be added to the GDP?
Damn glad we left Cali....Dam glad now I live in the middle of nowhere.
Even with a cement pond and a fancy eatin’ room it sounds like a lot of money for a house.
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