Q2 2012 Median Home Price, Major US Metro Areas (compare, place, Los Angeles)

[Rhymes with Best Coast]

Originally Posted by 18Montclair

There is a Census Bureau stat which measures the total aggregate value of all housing units and only 3 areas, NY, LA and SF are over $1 Trillion. DC comes next and then everywhere else.

I agree NY, LA, SF > $1 Trillion. Then there's a long drop to everyone else. I was simply trying to hone in on the truth. And as I suspected the truth would actually cause a LOT of angst and derision in Chicago and other cities of the like where it's relatively cheap and costs just a fraction to live in (all pointing to said region's desirability IMO i.e. translates to what people are willing to pay).

I agree my methodology was flawed, as I skipped the fact that this data is based on the median, not mean. And I admit it. However, I do believe that I was on to something. And as a proxy, isn't a median level house closer to what an everyday person would live in. Surely places with high percentage of affluent areas like SF/LA would skew the mean upwards. Regardless, I will continue to work on this calculation when time permits.

Anyways, It's still NY, LA, SF > $1 Trillion as my original calculations predicted. That's the medal stand like it or not. LOLOLOL

[pgm123]

Originally Posted by Micheal St. Paul

Wow this list makes me angry. Not your fault Though 18Mont. I knew Philadelphia was going to get more expensive. I said this in other threads that Philly is getting more expensive. This is not a good thing. We should be UNDER Chicago and Miami..

There's actually a very specific reason for that. Miami was hit far harder by the real estate crash than Philly. House prices have plummeted and are only now bottoming out. The rental rates in Miami are much higher than Philadelphia. Now is actually a great time to buy in Miami, but a terrible time to rent. I'm not sure the spread has ever been higher.

The apartment I lived in on Sunny Isles Beach went for $1000 a month last year. I've been told that the owner is now looking to rent it out at $1500 a month. It's an ok one-bedroom place in a very crappy building.

[gichicago]

Originally Posted by stan4

You know, I hate stats like these, because you know what kind of a house you would get for 160k in Dallas?
Nowhere I'd want to live.

Heh, no kidding. The 360k or whatever number for NY Metro does nothing to help my families living situation.

[sav858]

Originally Posted by Rhymes with Best Coast

I agree NY, LA, SF > $1 Trillion. Then there's a long drop to everyone else. I was simply trying to hone in on the truth. And as I suspected the truth would actually cause a LOT of angst and derision in Chicago and other cities of the like where it's relatively cheap and costs just a fraction to live in (all pointing to said region's desirability IMO i.e. translates to what people are willing to pay).

Actually it points more to supply and demand than anything else. Pointing out how the two largest metro areas and another very large one with the most expensive home prices are going to have the highest aggregate home value is more stating the obvious than the truth.

Plus I doubt people in Chicago and other cities with lower housing costs are complaining about not topping some meaningless ranking when they get to pay far less for housing. Why would anyone want to have a higher cost of living if they don't have to? I know some people like yourself like to brag about high home prices as some badge of honor but I don't see how having ridiculously overpriced housing that hurts the middle class and poorer people is anything to be proud of.

I agree my methodology was flawed, as I skipped the fact that this data is based on the median, not mean. And I admit it. However, I do believe that I was on to something. And as a proxy, isn't a median level house closer to what an everyday person would live in. Surely places with high percentage of affluent areas like SF/LA would skew the mean upwards. Regardless, I will continue to work on this calculation when time permits.

You also skipped the fact that this list is only looking at single family homes.

Anyways, It's still NY, LA, SF > $1 Trillion as my original calculations predicted. That's the medal stand like it or not. LOLOLOL

What's funny is how you try turn this into some contest as if it really matters just so you can brag.

[scrantiX]

Originally Posted by sav858

What's funny is how you try turn this into some contest as if it really matters just so you can brag.

He's right though.

[sav858]

Originally Posted by scrantiX

He's right though.

No one said he wasn't, when one states the obvious they usually are right.

[scrantiX]

Then what are you even disagreeing with if he's right?

[sav858]

Originally Posted by scrantiX

Then what are you even disagreeing with if he's right?

Who said I was disagreeing with him? I offered my opinion on what I thought of his post, not every response someone offers is going to be because there is a disagreement of a fact stated. Why do you care, my post wasn't directed at you to begin with?

[Gnutella]

In some of these cities, you're basically paying a premium for brand equity and nothing more. Better value can be found elsewhere.

[scrantiX]

Originally Posted by sav858

Who said I was disagreeing with him?

Then why so hostile to the truth?

I offered my opinion on what I thought of his post, not every response someone offers is going to be because there is a disagreement of a fact stated.

????