Why land/homes in the Western US are so expensive? (real estate, mobile home)
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It's not really possible to buy a stick built home on as little as half acre anywhere in the Western states for under 100K, right now, starting from W. South Dakota and West from there.
One may see real estate listings but it's 100% going to be some major issue with the home (water issue, total fixer, meth lab, mold, unpermitted, etc). May be few legit homes in NM.
At the same time, there're quite a few homes on large lots to chose from in the eastern half of the country.
Half acre is a small lot size for out-of-town home....why is land so expensive in the West?
Is it the climate? Plenty of cold winters, snow, extremely hot or extremely rainy/overcast climates in the West.
Is it scenic views? Plenty of homes are located in dusty deserts, steppes, no forest, mountains or water body anywhere really close.
Lack of natural hazards? Plenty of homes (most!) are in earthquake, wildfire or flash flooding zones.
Clean environment? Not everywhere West for sure.
Medical care is pretty horrendous here, it can't be the attraction.
Amenities, infrastructure? Rural homes in the middle of nowhere with 1.5 hour drive to civilization are similarly priced.
Most of rural homes in the West are at risk of ending up without water/needing new super-expensive well, water table is 100s of feet below and water is often bad.
Why in the world are land and home prices so high all over Western states? Can't figure out what's the attraction here, unless you're somewhere right in a very scenic area.
Is it the lack of bugs??
You obviously haven't looked at the San Luis Valley in CO. 10 acres for $6200, 36 acres for $12,500, or 400 acres for $160,000. Of course, there is that pesky issue with water...
You obviously haven't looked at the San Luis Valley in CO. 10 acres for $6200, 36 acres for $12,500, or 400 acres for $160,000. Of course, there is that pesky issue with water...
I'm talking about not bare land (yes, one can get cheap one in the desert and no water) or mobile homes....about stick built homes, on buildable land, on a well. It'll cost $$$$$ to put a house on the land here and develop the lot. Well alone will run 30K. (and building permit alone can cost more than the land)
"Why in the world are land and home prices so high all over Western states?"
demand is high, supply is not.
My question exactly why is demand so high, considering all I stated...it was not nearly as high before, at least going by the pricing. Rate of value increase has been extremely high in the West since recession.
What's the attraction and why so many "go West" and ready to pay these prices (and live on small lots or in crapshacks/nickname for CA homes), for living environment that seems to be not much better than what's in the East, except for lack of mosquitos and ticks?
Most of the the homes in the West aren't going to be right near outstanding scenery....but quite a drive away, often in traffic. Mass attraction to mountains...why now?
My question exactly why is demand so high, considering all I stated...it was not nearly as high before, at least going by the pricing. Rate of value increase has been extremely high in the West, since recession.
What's the attraction and why so many "go West" and ready to pay these prices (and live on small lots or in crapshacks/nickname for CA homes), for living environment that seems to be not much better than what's in the East, except lack of mosquitos and ticks?
There are plenty of places in the East that are just as expensive i.e. DC, NYC, Boston. May I ask where you're from?
There are plenty of places in the East that are just as expensive i.e. DC, NYC, Boston. May I ask where you're from?
I'm talking about mean price statewide and regionwide.
There's drastic East-West price gap.
And for the same price, I can get a house on than 25 times larger parcel in Eastern states, in the Northeast (New England), Midwest, or the South (and better quality house at the same time). Not focusing on few very expensive spots like SF or NYC, these are special cases.
Of course there'll be expensive cities everywhere, even in 3rd world countries. I live in CA, had lived in most major US cities including NYC and various rural areas, a few states, both West and East, mostly West.
Last edited by Usrname; 12-06-2018 at 09:45 PM..
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