Oh no! Pittsburgh area ranks high for affordable housing! (Beaver: for sale, condos)

[safak]

Originally Posted by EveKendall

My husband was offered a great job in Denver but we have been looking at house prices and we would never get anything nearly as nice as the house we bought in Squirrel Hill three years ago.

show me a house you can get for 150k in squirrel hill and i will show you a comparable house in over half of the 21 markets bigger than pittsburgh, and probably all of the ones smaller.

[EveKendall]

Originally Posted by safak

show me a house you can get for 150k in squirrel hill and i will show you a comparable house in over half of the 21 markets bigger than pittsburgh, and probably all of the ones smaller.

Challenge accepted--our house was $170,000, 3 bed, 1.5 baths, 1350 sq feet, original hardwood floors, updated kitchen, one off-street parking space, with a small backyard in South Squirrel Hill (near Minedeo).

[Flamingo13]

Seem to me that 170,000 is higher than 150,000????

[EveKendall]

Originally Posted by Flamingo13

Seem to me that 170,000 is higher than 150,000????

In mortgage terms, the difference translates to about $80 per month. But thanks for playing.

[Faer]

Originally Posted by Flamingo13

Seem to me that 170,000 is higher than 150,000????

Seems to me this is comparing one of the most expensive Pgh neighborhoods to some sort of other city median.

[trackstar13]

Originally Posted by EveKendall

In mortgage terms, the difference translates to about $80 per month. But thanks for playing.

Don't forget the difference in property taxes associated with a $20,000 increase in purchase price, because this definitely makes a difference in Allegheny County vs. some of the comparison cities.

[Craziaskowboi]

Originally Posted by doo dah

No:
"The reason Pittsburgh fares so well, said (that web site), is that while the region's median household income of $50,489 is only slightly below the national median income of $51,371, the median home price of $137,000 is significantly lower than the national median of $203,500."

203,500/51,371 = 3.96

137,000/50,489 = 2.71


Consumer advocates typically recommend that homebuyers limit the price of a house to triple their annual income, unless they're making a large down payment. Less than triple lets people live more comfortably. More than triple risks making people "house-poor." It appears that the average home price in the Pittsburgh area allows homebuyers with average salaries to live comfortably, while home prices in the rest of the United States are still too high even after the real estate collapse.

[_Buster]

I would guess that the average house in Pgh is also older and less desirable than the average house in many cities that have higher prices.

[trackstar13]

Originally Posted by _Buster

I would guess that the average house in Pgh is also older and less desirable than the average house in many cities that have higher prices.

Actually this is a good guess and point.

Pittsburgh was among the 29 cities surveyed in 2011, and the results released this month show the median home in the Pittsburgh region was valued at $69,000, compared to $110,000 nationally.
However, the study finds the median price paid for a home built in the last four years settles in at $250,000 in the Pittsburgh region, which is slightly higher than the national median of $235,000.


“The median year built of your housing units was 1955," Bucholtz said. "When you compare that to the national median number of 1974, it’s reasonable to expect that housing quality related variable might show a different picture than the national one."


It's Cheap to Buy a House in Pittsburgh, But Not a New One | 90.5 WESA

[safak]

I said show me a house..not tell me about one particlar house you supposedly bought sometime in the past . Lets use real listings.
ive done this game before so I know how it ends.

I got a spotless 4 bedroom poolhouse house 2 yrs ago in naples fl for 90k. Lets ignore the hows and whys why dont we