How Long Will You Need to Save to Buy a Home In Your City?
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How Long Will You Need to Save to Buy a Home In Your City?
1–10 of 75 posts
Re: How Long Will You Need to Save to Buy a Home In Your City?
#2It's extremely depressing how expensive property is in San Francisco!
Re: How Long Will You Need to Save to Buy a Home In Your City?
#3I live in Sydney Australia, so to me these prices look fairly reasonable in comparison.
To give some of you non-aussies an example...
The average price for 2 bedroom victorian era terraces (hundred year old plus buildings) with next to no real land except the land the property sits on in sydney can be anywhere from 800k (AU) to millions of dollars.
Our interest rates are also higher then US.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#4I live in Sydney Australia, so to me these prices look fairly reasonable in comparison. To give some of you non-aussies an example... The average price for 2 bedroom victorian era terraces (hundred year old plus buildings) with next to no real land except the land the property sits on in sydney can be anywhere from 800k (AU) to millions of dollars. Our interest rates are also higher then US.
I live in a block of flats in a suburb near North Sydney and one of the 2 bedroom flats like mine was sold for $695,000 AUD. It's completely ridiculous. (The flats are pretty bad quality)
Meanwhile a friend of mine just south of Newcastle bought a 3 Bedroom house with double garage & front and back yards for just around $400K... It's tempting to just start doing the commute with a difference like that
Re: How Long Will You Need to Save to Buy a Home In Your City?
#5It's extremely depressing how expensive property is in San Francisco!
At least it is significantly more affordable than in Honolulu even though the prices are more expensive. This is because pay is low in Honolulu, one of the costs of paradise I guess.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#6Average weekly wage vs Median price per square foot. Smells like data cherry picking.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#7Speaking from a team bootstrapping our company out of Houston, we wouldn't have stood a chance anywhere else, especially anywhere near the Valley. We were running off savings for the longest time, and so a month's worth of expenditures in most places lasted 2-3 months here, easily (the company and team's cost of living all combined, primarily rent). It gave us the time to figure out which way was up with our business. And the times one or two of us had to get some income on the side, employment was readily accessible.
Buying a house might even be in the near future for one of our founders, and that's only possible at the prices around here.
Slightly unrelated: I'm surprised to see the average weekly wage out in Detroit so high ($1,015), given all the tales of woe you hear about it.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#8In Indian cities (especially metros), housing prices have risen beyond the reach of the average wage earner. Despite several projects still languishing unsold, the prices have been artificially kept high by greedy builders. This puts tremendous pressure on single income families even if they earn well above median salary.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#9It's extremely depressing how expensive property is in San Francisco!
Well on the plus side, with the Bay Area, there's plenty of other relatively affordable areas to purchase if one has a car.
Re: How Long Will You Need to Save to Buy a Home In Your City?
#10It's extremely depressing how expensive property is in San Francisco!
Well on the plus side, with the Bay Area, there's plenty of other relatively affordable areas to purchase if one has a car.
Or rides BART.
Of course, you then have to live near BART (or drive to BART) and then contend with the ZOMG GERMS!!1Eleven!