I will never be able to afford a house in California...

[everman]

These prices have been driven up by low interest rates. A lot of these loans are variable int rates, which when rates go up (and they are) these people won't be able to afford their payments anymore.
We'll see what happens, should be interesting....

 

[jemcam]

This is what I got for $200,000 in 1999 when I moved to central IL

 

[johnjbruin]

LA prices suck @$$

 

[johnjbruin]

Originally posted by: everman
These prices have been driven up by low interest rates. A lot of these loans are variable int rates, which when rates go up (and they are) these people won't be able to afford their payments anymore.
We'll see what happens, should be interesting....

i am seriously hoping the market crashes big time.

the prices here are just insane right now.

 

[everman]

Originally posted by: jemcam

This is what I got for $200,000 in 1999 when I moved to central IL

I'm sure it's worth a nice amount more now.
Real estate can be a great investment, something about how they stopped making land a long time ago...
But you need to choose wisely.

 

[illustri]

Originally posted by: SampSon

Originally posted by: illustri

Originally posted by: SampSon
You don't want to pay that much for a house.

huh? where are you getting dollar values?

The other 3000 threads about people in california whining about property prices.

Oh, also, I work in real estate.

in NY? your prices are nearly as high as ours
theres still much demand for housing even in the higher ranges
hell my parents had to go through 3 lottery processes in their hunt

 

[dquan97]

Originally posted by: jemcam

This is what I got for $200,000 in 1999 when I moved to central IL

I just bought a 1000sq ft condo in Sacramento for a bit more than that!!

 

[sygyzy]

Looks like my town is #1 ....

least affordable. Go Santa Barbara!

 

[imported_Mike]

Originally posted by: sygyzy
Looks like my town is #1 ....

least affordable. Go Santa Barbara!

Im #2 least affordable.

 

[KEV1N]

I'm in the process of buying a home in the Sacramento area (technically West Sacramento, Yolo County) under an Affordable Housing Program for moderate income first time homebuyers. I'll be getting a new 3 bed 2.5 bath. 1312 sq ft home for $265,000. Look into these programs... many cities will support something like this because without the entry level buyers the established homeowners will have nobody to sell to in the future.

 

[amol]

great time to sell though

2410sq ft two story on a 6800 sq ft lot with 2 car detached garage

bought in 2001 for $645,000

worth, a few months ago in 2004, via appraisal . . . $1.25million

price almost doubled

 

[paulney]

Salinas top 3? WTF is in Salinas except for a motorcycle dealership and mexican seasonal workers?

 

[paulney]

Hmm... Santa Clara county is not on the list, but Oakland is... One has to wonder...

 

[sygyzy]

Originally posted by: Amol
great time to sell though

2410sq ft two story on a 6800 sq ft lot with 2 car detached garage

bought in 2001 for $645,000

worth, a few months ago in 2004, via appraisal . . . $1.25million

price almost doubled

It's easy for the rich to make money. Nothing impressive about that.

 

[jlee]

Why would you want to live in Cali anyways..

 

[K1052]

Heh, No.9 most affordable market.

 

[StageLeft]

Move. There are plenty of nice states with affordable housing. If you like it warm move to Florida.

 

[PingSpike]

I think I'm just not going to buy a house until the market crashes. I just can't get behind the idea of buying when a price is high on something.

 

[GasX]

Jersey City is interesting. Its neighbor, Hoboken, is WAAAAAAAAAAAYYYYYY more expensive...

 

[StageLeft]

Originally posted by: PingSpike
I think I'm just not going to buy a house until the market crashes. I just can't get behind the idea of buying when a price is high on something.

Prices may continue to go up!

 

[rh71]

"yeah I saw this already"
"repost"
"that is all"

that's hot.

 

[JulesMaximus]

Originally posted by: illustri
does most affordable = ghetto?

That or it just means that nobody wants to live there.

 

[JulesMaximus]

Originally posted by: rh71
"yeah I saw this already"
"repost"
"that is all"

that's hot.

:laugh:

 

[Queasy]

A couple that is friends with my wife sold their rinky dink older house in California and bought a huge brand new home in the suburbs of Atlanta from the profits. Makes me wish I had been old enough to buy a house in the early 90s.

 

[iamwiz82]

Interesting that a college town is the third most affordable. I agree with #2, though. We drove through Bay City (same area) and there were some beautiful houses for dirt cheap.