Washington

Well, im 20 and living at home while going to school. My (parents) house was 350K 15 years ago. worth around 550 now. its funny, there are 400K houses and up all around, and right in between two of the biggest ones, there is a freaking barn..its like 2 square feet...two rooms total. I dunno how they got in there, but its the funniest thing to see...the neighbors garage is actually bigger than that house! funny stuff

oh btw, I live near akron ohio.

__________________
there is no absolute, only the moment.

GSRIDER

The Midwest is cheap!!!

My first house 5 years ago 3 bedroom purchased 65,000 sold it for 126,000.

Bought our current house in the burbs: 4 bed room, huge yard, 157,000. Average cost in the nieghborhood of home we were looking at was 145,000- 200-000.

We couldn't break the 160,000 mark without starving the kids and we had tons of options from brand spankin new to older homes.

__________________
No signature at this time.

tfin

I wish I had house options. There are tons of houses to buy in my area and town. The low end of houses is about 40k and the high end is about 150k. The problem is that all the houses are over valued by at least 20k and anything under 50k needs to have everything replaced but the walls.

If you want anything out of the city limits or more thn one acre plan to pay 200k or more. Farm land is worth about 2k an acre to farm and if you want to put a hous there plan for 10-15k an acre. I know those prices sound cheap compared to the prices you guys are throwing out but wages around here are shitty. Here $40k a year sallary is really good, a combined (husband and wife) sallary of $100k is HUGE.

__________________
Did I mention that I can't spell or type?
Oh yeah, check out my car
www.cardomain.com/member_pages/view_page.pl?page_id=275916

homerhop

I paid 146k for mine and it is already worth 158k in the space of 3 months without any of the extra work I have had done on it.
Our repayments are £520 a month which is good, because to rent a place around us goes from £600 up.

__________________
its evolution baby

Cycler

Well in the Bible belt of Oklahoma smack in between Oklahoma City and Tulsa. I've got a three bedroom 2 bath, two car garage for 80K. Motrgage is about $725 on a 30 year note. Average neighborhood in a divsion one college town. Oklahoma State University. What is kind of gouging me is home insurance going up every year. Damn escrow account. <p>I feel pretty lucky overall.

__________________
"I'm not even supposed to be here today."

"I assure you we're open."

Yakk

Use 1% of the house's value/month as an "order of magnitude" value. Based off back-of-napkin calculations, that seems accurate within a factor of 2. =)

So, for a 1 million dollar house, you are talking between 5,000 and 20,000 / month, I'd think.

(that's 12% annual interest + taxes + repairs + etc)

__________________
Last edited by JHVH : 10-29-4004 BC at 09:00 PM. Reason: Time for a rest.

iccky

My parent's house in New Jersey, a very small (maybe 1000 sq. ft.)3 bedroom, no basement, 1 bath and a toilet and sink in the laundry room (its a weird house) is worth 300,000. Here in rural northwestern PA, where i go to school, you couldn't spend more then 100k on a three bedroom house if you tried.

Anomaly77

Anyone that is interested in this topic would probably enojoy this website: Best Places You can compare two cities or just view a city's profile. You can enter what your yearly salary is and it will calculate what you would need to make in a different city to maintain the same standard of living. (Considering the different costs-of-living) You can compare many different demographics of a city, including the average home cost, property taxes, and property appreciation rates. It also compares your results with the nation average.

Note: This is not intended to be a "plug". The site is not mine and I am in no way affiliated with it. I use it for work and have founnd it extreamly useful for comparing such things as those that are being discussed on this thread.

yellowgowild

Anyone else seem to think the rising prices of homes is like a bubble waiting to burst?

Charlatan

Downtown Toronto

We bought our house about 5 years ago and it was 165K for a 2 bedroom semi-detached victorian in a very nice neighbourhood.

We just had the house assessed last year and it is now in the 285K to 300K range.

With our new daughter we will need another bedroom soon (she's sharing with her brother for now)... to stay in this neighbourhood we can't find anything below 400K that is remotely close to what we need.

I could move to the suburbs and pay somewhere between 230K and 400K for something very large and brand new but then the commute would suck and well, I'd be living in the suburbs.

__________________
"My hands are on fire. Hands are on fire. Ain't got no more time for all you charlatans and liars."
- Old Man Luedecke

digme

I'm really afraid of that. The problem is, it would hurt a lot of people.

Bought a house last August in Madison WI

3 bed, 1 bath, 1 car garage for US$165K.

yellowgowild

Same here, I just bought a house for 117k and it's gone up 35k in the past 6 months that I've lived here. It's great, but something aint right....

agball

The whole freaking market is crazy, I bought my place on Long Island 6 years ago & it was tough then. If I was just starting out now to buy my first home, I dont know if I could do it. Best of luck, I feel for you.

frankx

I just bought a 4 br house on the West Bank of New Orleans for about $170,000. Huge backyard

__________________
Louisiana: We're Not ALL Drunken Cajun Wackos, But That's Our Tourism Campaign

rothman

here in seattle, prices are just seriously insane... my parents house (mine when they die) they just bought was 550K, its 4 bedroom, 2.5 bath and 3000sq ft... i dont know what the land size is, but i know hat its insanely expensive

westothemax

A friend bought a nice, remodeled 2bed 1bath condo off of Nobel for $300k+. I stayed there 2 summers ago for about $750/mo while I looked for my own place. They got such a good deal, because its super close to the campus, it's a really nice place with new everything, and it has a covered parking space.

The stuff I found when I was looking around here was a lot closer to what you described.

And if I get a job in Silicon Valley, I sure as hell am going to move because I wouldn't be able to stand driving the 17 everyday with all that crazy traffic. So it goes...

Boo

Yes! Scary thought! Wages should follow real estate and they aren't in the areas that I know of. The problem with real estate is that when it busts, it hurts almost everyone.

I always thought Alaska had expensive housing. Guess the rest of the world caught up.

__________________
Back button again, I must be getting old.