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Old 04-04-2015, 10:28 AM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,575 posts, read 53,103,852 times
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Quote:
Originally Posted by nei View Post
I'm guessing the difference is that my link includes condos and yours doesn't. Also yours is homes on the market, which might be disportionately newer. NYC suburbs tend to be mostly detached homes with fewer condos, so that makes the price difference larger than it my appear.
No, the National Association of Realtors' Metro Area Median Home Price Quarterly Report is based on the.price of a 4bd/2bth house across all Metros.
Metropolitan Median Area Prices and Affordability | realtor.org

The CA and NY state association of realtors both report data that way too.

The Bay Area has been more expensive than the NY metro for at least 25 years.
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Old 04-06-2015, 06:41 PM
 
Location: Brooklyn, New York
3,231 posts, read 3,475,434 times
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Quote:
Originally Posted by nei View Post
I'm guessing the difference is that my link includes condos and yours doesn't. Also yours is homes on the market, which might be disportionately newer. NYC suburbs tend to be mostly detached homes with fewer condos, so that makes the price difference larger than it my appear.
Compared to geographically restricted Bay area, outside of NYC city limits, the suburbs have pretty much unlimited land and room to grow. That's also the reason why they are not dense at all. The only reason the prices are so high is due to artificial restriction of development by NIMBYs and suburban micro-fiefdoms. Some of the suburbs that surround NYC are losing population/static and have less development than Detroit, but its not because they are a depressed region. There are just harsh restrictions on what can be built and where.
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Old 05-25-2015, 07:32 AM
 
1,564 posts, read 1,008,221 times
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The 10 most expensive real estate markets in the US

California cities crushed the list ,N.y.c wasn't included because it was based on 4 bedrooms & up houses,Manhattan no doubt has very expensive penthouses but certain California cities are golden .

Matter fact Beverly Hills has the most expensive house for sale in the whole u.s for $195 mil

America's most expensive home for sale -- $195 million - Nov. 6, 2014
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Old 05-25-2015, 08:16 AM
 
Location: Washington State
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Frisco, Vancouver, & Honolulu are 1, 2 , 3. If you counted Manhattan as separate market, it would be first but the whole of NYC is probably 4th. Fifth would likely be LA or Toronto.
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Old 05-25-2015, 08:31 AM
 
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America’s Most Overpriced Cities In 2015 | Forbes

Those high priced cities price a lot of people out of the housing market. I'm attaching a little information that showed up on my FB Home Page, just now.
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Old 05-25-2015, 03:01 PM
 
1,015 posts, read 737,884 times
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Quote:
Originally Posted by NowInWI View Post
America’s Most Overpriced Cities In 2015 | Forbes

Those high priced cities price a lot of people out of the housing market. I'm attaching a little information that showed up on my FB Home Page, just now.
Yes, but in these markets there is generally a supply constraint, so median income is irrelevant because people making the median income aren't going to be able to afford a house. There is only enough supply of close in single family homes for maybe 10-20% of the population, so if you are trying to buy a home you are competing against the top 10-20% of earners. The immigrant family of 8 making $20K and cramming in to a 2 bedroom, 1 bath apt will pull down the median income but have minimal effect on the price of SFH because they are not trying to buy one.

The supply constraints are partly the result of geography, but mostly a result of zoning.
So, top 5:
1. Bay Area
2. Vancouver
3. San Diego
4. LA
5. NYC
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Old 05-26-2015, 07:15 AM
 
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Quote:
Originally Posted by Texamichiforniasota View Post
Yes, but in these markets there is generally a supply constraint, so median income is irrelevant because people making the median income aren't going to be able to afford a house. There is only enough supply of close in single family homes for maybe 10-20% of the population, so if you are trying to buy a home you are competing against the top 10-20% of earners. The immigrant family of 8 making $20K and cramming in to a 2 bedroom, 1 bath apt will pull down the median income but have minimal effect on the price of SFH because they are not trying to buy one.

The supply constraints are partly the result of geography, but mostly a result of zoning.
So, top 5:
1. Bay Area
2. Vancouver
3. San Diego
4. LA
5. NYC
Would the immmigrant family of 8 making $20k, constitute most of the residents of these cities who can't afford to purchase a home? Seems like an extreme example, and I don't think it's ever good, when the average resident can't afford to become a homeowner. Not appealing in the least, to me.
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Old 05-26-2015, 10:02 AM
 
Location: Zurich, Switzerland/ Piedmont, CA
31,575 posts, read 53,103,852 times
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it's getting out of hand in the Inner Bay Area. That we are able to accomodate 100,000 newcomers a year is baffling imo.


^my pic
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Old 05-26-2015, 10:13 AM
 
Location: Upper West Side, Manhattan, NYC
14,304 posts, read 17,924,050 times
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NYC and Bay Area easily atop the list. After that I'd guess places like Boston and DC. I want to say LA too, but not sure - it's a big city so there can be a lot of variance in price depending on where you are, but still expensive.
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Old 05-26-2015, 01:30 PM
 
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Quote:
Originally Posted by 18Montclair View Post
it's getting out of hand in the Inner Bay Area. That we are able to accomodate 100,000 newcomers a year is baffling imo.


^my pic
So, you consider this good? (The median home prices, I mean).
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