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here in the boroughs of nyc you are limited to co-ops in the 2.50x your income in areas less then top for the most part. homes would be out of the question for most at 2.50x unless you got high incomes .
I can get a decent house here in a good district for around $75K. I can get a REALLY nice house in a top-notch school district for $125K.
I don't live on a farm, lol. There are quite a few farms in the surrounding areas though and the land is fairly inexpensive so I guess you could get a farm too
$600K would get me a mansion and yacht on 'Millionaires' Row' right on the shore of Lake Erie here with some money left over.
Man just shows difference in property prices so much by location.
Avg home price here in Honolulu is something like 800k.
600k would be "tolerable" part of the island and just above semi-ghetto status.
300k is full ghetto area.
1,000,000+ if you want to live in a good neighborhood/school district.
125k will get you a good sized tent down by the beach park. At least there's "ocean view"
75k will get you a small cardboard box on the sidewalk downtown.
that is my daughters income range ... here in queens they got a one bedroom co-op off the beaten path in a nice area called howard beach . they are at the far end of queens with limited transportation to manhattan .
a co-op in our area is about 100k more and homes start at a million for a small one , so lower incomes usually start out with co-op apartments
Many people are leaving California entirely
and San Fran is becoming the home of the rich and the homeless.
Quote:
Originally Posted by RationalExpectations
That was true in the 1970s, 1980s, 1990s, 2000s, and it is still true now.
This is a good point. The difference NOW is the exponential increase in the RAW NUMBERS involved.
The 46Million 'relevant' population level referred to in an earlier post... needs to be reduced. A lot.
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