Maybe NYC isn’t just Manhattan
It’s hard to believe that Chicago is so low - just above the price of Baltimore.
I’m sure NYC includes areas of the Bronx, Queens and Brooklyn that many of us would not consider living in for many reasons. Also, some areas of Queens on the Rockaways take over an hour to get into NYC. Same would go for other major cities, including Chicago and Baltimore.
That made me laugh, sue! Housing in SF is a mix of small (as in SMALL) houses, often 1-2 brs, and condos. IF there is a garden its often on a very sloped hillside and often not really functional space. The prices are, though, absurd.
Jtm626,
You can get more, but you have to pay more.
I worked with a guy who had a 10,000 sq ft house on 2/3 of an acre in Pacific Heights.
It is a fantastic house. I believe it recently sold for $30 million.
Staying with the theme of the thread, I don’t think he considers himself middle class. Maybe he thinks he is upper middle class.
Oh, so sarcastic
However, if he was doing so well, why did he sell the house?
I don’t know anything about that guy, but selling a house does not necessarily mean one is not doing well. We’ve sold several houses, some to move to a preferred location, and the last one because DH got tired of maintaining a big yard no one was using.
The $75k listed for DC is very low, esp if that considers the greater DC area. Heck, in our county, $64k for a family four qualifies one for purchasing via the moderately priced unit program.
We’re in a neighborhood that runs about $80k below the median single family home housing price for this county, and $75k would not come close to getting a house in this community. We’re an hour commute from downtown DC.
And where a family making 75k in DC is supposed to find 20% of the purchase price for a down payment boggles the mind. We sure didn’t have 20% down!
Busdriver11, I don’t know why. I haven’t talked to him in a long time.
He is almost 70. His kids are grown up. It is a 10,000 aq ft house for two people.
It’s a similar idea for SD. In the SD area, there is a wide variation in prices depending on where in SD you are looking. The median home price in SD county is $440k. That sounds low to me because I’ve always lived in areas of SD with much higher median home prices. For example, the median sales price in Coronado is well into the 7 figures, but if you go 1-2 miles away to National City, the median sales price drops to under $300k. Several years ago, one survey indicated La Jolla was the most expensive of all the surveyed US real estate markets for a comparable home (comparing same sqft, num bed/bath, etc. in different areas), yet most of the higher population areas of SD are near the median.
Maybe he wanted to downsize to a $10m property.
“Maybe he wanted to downsize to a $10m property”
Perhaps so. For that price, he could probably get himself a cozy two bedroom fixer upper in Tiburon!
Lol!
FYI, from WSJ:
http://www.wsj.com/articles/BL-WB-53778
Americans have poor grasp of concept of inflation