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I say this a bit tongue in cheek, but where in Downtown Boston and Downtown San Francisco can you find 371/260 sq/ft for $200k respectively? That means ~750 sq/ft for $400k in Boston, and 500+ sq/ft for $400k in San Fran!?
No chance, unless we're talking Tenderloin or Dorchester..
I think it would be difficult to find a 3200 sq foot home in SA for 200k as well.
There are parts of this nation where a floor working Walmart employee will have a better life than a person with a professional level job will in a place like San Francisco, San Diego or Boston. People in these places just don’t realize how overinflated thier cost of living is. Some of it is literally being caused by thier local governments who work to keep developments at a minimum and only approve more high end developments when they are approved. It is not normal to ask people to pay 500k for a starter home, or ask 3000 per month rent on an apartment. The rest of the nation does not live like that
The major sacrifice in these areas is time. Commuting times are the biggest issue with the COL (at least here in Boston). E.g. someone can make $150k, and as long as they're ok with a 75 minute commute, can live in a top 50 school district in a decent $500k house. Same goes for The Bay area and, say, Benecia or Vallejo (lil more in Benecia..) These MSAs and their affluence will continue expanding outward while increasing home values in areas that were once rural and undeveloped. Now, you have to live 40 miles outside of downtown Boston to find a good school system, a train, and a decent neighborhood on a dual salary.
That being said, I love it here. So does everyone who puts up with the madness. While people in Tennessee may wonder why people stay in Boston or DC or Seattle, people in Boston and DC and Seattle wonder why people move to Tennessee. In the case of SF/Seattle/Boston/San Diego, the ocean, the history, the culture, the adventures, a huge number of like-minded individuals.. Those are the things that make commute times worth it, or make folks spend a bit more on their mortgage than they'd prefer.
All of this being said... Chicago is still the biggest bargain in the US. Maybe even the world.
EDIT: I partially agree with your bolded statement. A lot of it is simply NIMBYism and elitism. In MetroWest Boston, they will march with pitchforks before they allow apartments and condos, or chain commercial activity and fast food restaurants. Fortunately it's changing as the old boys club slowly loses reign, but I'm afraid the growth is too late (though the fast food can stay out).
The only things that come up for $200K in my area (Central Contra Costa County) is undeveloped land or mobile homes. In the entire county (pop. 1.12 million) the only permanent structures at that price are a 2-bedroom condo in Antioch (terrible city) or a one bedroom in a retirement community with $2K/month dues in Walnut Creek. Going to $225K gets you some more condos though.
I say this a bit tongue in cheek, but where in Downtown Boston and Downtown San Francisco can you find 371/260 sq/ft for $200k respectively? That means ~750 sq/ft for $400k in Boston, and 500+ sq/ft for $400k in San Fran!?
No chance, unless we're talking Tenderloin or Dorchester..
No one specified downtown. You can find 750 ft.² for 400 K in Boston.
Just got back from a road trip through MO, IL, IN, OH, KY, and TN. Did drive-bys and tours of homes sub $150K in suburban St. Louis, rural Southern IL, Louisville/So.IN, and Cincinnati/NKY. Each area had plenty that was livable for that price. Toured this $139K bad boy in Cincinnati (I'm going to shut up about Cincinnati now.....): https://www.zillow.com/homes/5262-Hi...,-OH-45238_rb/
Just reread- You are correct. I guess I assumed we were talking downtown because they separated Manhattan from Brooklyn (in retrospect, my logic doesn't make sense). If you aggregate all listings across all corners of the city of Boston, that becomes more believable. Same goes for San Francisco.
Would love to see what Cambridge is. And Palo Alto. And downtown Chicago vs. the neighborhoods.
Manhattan is simply not worth it and no one can tell me otherwise lol
Disagree.
I always said if I leave DC it'd be to go to NYC specifically Manhattan. There's a reason it's so expensive, I loved it when I visited.
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