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Old 10-10-2007, 11:32 AM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,394 posts, read 55,240,452 times
Reputation: 15488

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Counties ranked by number of Million-Dollar Homes
Los Angeles, CA 187,435
Orange, CA 98,016
Santa Clara, CA 76,061

New York, NY 67,309
San Diego, CA 57,028
San Mateo, CA 43,152
Contra Costa, CA 40,147

Fairfield, CT 39,264
San Francisco, CA 33,066
Westchester, NY 31,328
Alameda, CA 30,864
Cook, IL 29,168
Nassau, NY 28,857
Marin, CA 24,623
King, WA 23,407
Miami-Dade, FL 22,794
Kings, NY 22,339
Fairfax, VA 21,999
Montgomery, MD 21,963
Ventura, CA 20,167
Santa Barbara, CA 19,806
Suffolk, NY 19,620
Middlesex, MA 18,873
Bergen, NJ 17,660
Palm Beach, FL 17,609
Broward, FL 16,997
Honolulu, HI 15,948
Monterey, CA 14,310
Riverside, CA 13,088
Norfolk, MA 12,576
Sonoma, CA 12,294
Collier, FL 11,723
Monmouth, NJ 10,031

US Census Bureau, American Factfinder 2007
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Old 10-10-2007, 11:39 AM
 
342 posts, read 1,730,140 times
Reputation: 240
Interesting stuff. Thanks for posting it. I would love to see a state by state ranking for number of million dollar homes.
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Old 10-10-2007, 11:43 AM
 
575 posts, read 1,599,606 times
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They need to add that many of them are basic tract homes on postage stamp size lots, not what people in most parts of the country think of when they picture million dollar homes.
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Old 10-10-2007, 12:00 PM
 
Location: Zurich, Switzerland/ Piedmont, CA
32,394 posts, read 55,240,452 times
Reputation: 15488
Quote:
Originally Posted by califantastic View Post
Interesting stuff. Thanks for posting it. I would love to see a state by state ranking for number of million dollar homes.
California 744,000
Rest of the US 1.0 Million
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Old 10-10-2007, 02:24 PM
 
253 posts, read 1,028,974 times
Reputation: 87
Quote:
Originally Posted by Axiom View Post
They need to add that many of them are basic tract homes on postage stamp size lots, not what people in most parts of the country think of when they picture million dollar homes.
Real estate is all about location. In Mahattan you can pay 1 mil for 2 bed 1 bath that barely meets 1000 sf.
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Old 10-10-2007, 03:26 PM
 
342 posts, read 1,730,140 times
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Quote:
Originally Posted by 18Montclair View Post
California 744,000
Rest of the US 1.0 Million
Wow! Amazing to think that almost half of the million dollar homes in the US are in CA.
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Old 10-10-2007, 03:34 PM
 
575 posts, read 1,599,606 times
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Quote:
Originally Posted by Calibound-Yorkiemom View Post
Real estate is all about location. In Mahattan you can pay 1 mil for 2 bed 1 bath that barely meets 1000 sf.
Yes, it seems Manhattan always gets mentioned at some point when insane RE prices are discussed.

But most formulas I've seen for determining whether RE values in a particular location are overvalued or not take several variables into account, among them income levels and population densities.

According to at least one recent article, based on census data, Manhattan residents have the highest average income in the country in an area that comprises approx. 23 sq miles.
So I guess it's not all that surprising to me that prices there are high.
And before someone jumps down my throat re income averages... I concede the Manhattan figures are most likely skewed by high priced financial types, celebs, trust fund babies et al, but there is still mucho money in a very limited space = high prices and understandably so.

On the othet hand, a recent analysis of the most overpriced real estate markets in the nation, as quoted in a CNNMoney article, named 13 CA markets in the top 20.
(FL 4, OR 2, NJ 1)
Even taking historical premiums for coastal CA living into account (not that I consider Merced, Salinas, Stockton, or Madera; the top 4 overpriced CA markets according to the above article, dream locations) current CA RE prices just don't make a lot of sense to me.


I've looked at some of those million dollar homes in OC. Bleeeech!

Last edited by Axiom; 10-10-2007 at 03:44 PM.. Reason: One day I'll learn to proof before hitting submit ;)
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Old 10-10-2007, 03:55 PM
 
253 posts, read 1,028,974 times
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Quote:
Originally Posted by Axiom View Post
I've looked at some of those million dollar homes in OC. Bleeeech!

I feel that way about 1 mil dollar NYC apartments. I looked at a few 600k apartments in NYC that barely reach 600 sf. These apartments are 1b/1ba. That is one reason we are looking to move to So Cal. There we will get more for our money & still live in a local that is condusive to our lifestyle &/or interests. We can make just as much money in So cal if not a little more & our cost of living is a little (tiny bit less) even with needing to own two cars there. Of course i'd like it to be cheaper but if it were than it probably wouldn't have as many of the elements that i want in my life. What i mean buy that is places or things that cost more in this world usually do because a lot of people find them desirable and are willing to pay for them. I'd don't like it but its just the way life is. Its all about supply & demand. With that in mind those OC homes suit me just fine. The main problem I have is I don't know where we will be working LA or SD. We need to go where the $$ is.
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Old 10-10-2007, 04:39 PM
 
11,715 posts, read 35,995,524 times
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Saying an area's real estate is affordable compared to Manhattan is like Charles Manson saying he's a great humanitarian compared to Hitler.

Both are disgustingly overpriced and not at all affordable to normal people wanting to raise families without working 4 jobs and being house poor.
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Old 10-10-2007, 05:33 PM
 
253 posts, read 1,028,974 times
Reputation: 87
Quote:
Originally Posted by EscapeCalifornia View Post
Saying an area's real estate is affordable compared to Manhattan is like Charles Manson saying he's a great humanitarian compared to Hitler.

Both are disgustingly overpriced and not at all affordable to normal people wanting to raise families without working 4 jobs and being house poor.
Its all relative I guess. i wouldn't compare it to Manson & Hitler but thats just me. i do think that housing should be more affordable for the masses but right now unfortunately its not. I don't see what the point of whinning about what isn't going to change does for anyone. IMO it makes no sense to just complian about something. if you don't like your situationdo something about it.People still do have options. Its what I do & I come from a very poor background. I had many challenges that I have had to overcomes as well so trust me when i say it I am not speaking from a background of a privilaged upbringing.I used to teach. I made about 60k. My hubby made more but i still felt that my teaching salary wasn't going to pay me enough so I went to back to school to change careers into something that will pay me more money. So now when i go back to work I will enter the profession that my hubby is in. the reason I did this is because although I live a comfortable life with my husband if some unforseen event were to come up I want to take care of us in a similar fashion as he does now. As I stated there is nothing that is special about me in fact i group up in a crappy ghetto with nothing quit school at a very early age and there plenty more but I choose to not get into it. I have taken the lemons I was born with & have attempted to make Lemonade. I now live a comfortable life & I have 3 masters degrees and counting. I am in my early to mid 30's so its not all said in do for me but I nkow one thing i will *keep* trying to improve myself & my circumstances. I will never be the type of person to just lay down & die. This may not be the route for everyone but this is what I've done. If this doesn't work for a person the can always move. I don't understand why someone would rather continue to complain about an undesirable situation and give themselves excuses as to reasons why it will be difficult to impossible for them to change their situation rather than focusing on the ways the will be able to change their situation in a positive way that will be benefical to them. I know plenty of people like this. Many of them in my own family. They seemed to want to be saved. They want someone to do it for them. Im not saying it is easy because its not but it can be done. I've done it! It is looking like our move out west will be more difficult than we anticiaped because we have yet to find jobs with relocation assistance. I'm not going to let that stop me! It may take a little longer to get there but were will have to relocate ourselves. Right now thats where we feel we want to be. What happens if we are missirabel once we get out there?? We will relocate to somewhere else or come back east! Life is too short to be miserable. If you don't like your life work like *hell* to change it.
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