General Discussion

PeaceWave

(3,300 posts)

9. Consider yourself lucky. Nothing in the Bay Area is going for less than $1.25 million.

Reply to Vinca (Reply #8)

Sun Jul 28, 2024, 03:03 PM

Jul 2024

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A $1 million starter home is now the norm in more than 200 US cities [View all] Yo_Mama_Been_Loggin Jul 2024 OP

Wow. Just wow. I guess I knew that this moment was coming when I kept reading about the constantly SWBTATTReg Jul 2024 #1

Thanks, I saw this but forgot to post. Truly a new era.. appalachiablue Jul 2024 #2

Housing prices in general have tripled in the last 5 years in my state, imagine its that way all over. nt ImNotGod Jul 2024 #3

That isn't even counting the taxes and maintenance for these money pits. valleyrogue Jul 2024 #4

Rental prices in the same areas have also undergone a similar massive increase. Voltaire2 Jul 2024 #5

And I think you're right. Somewhere along the road, someone thought "Hey, flip these homes and make some SWBTATTReg Jul 2024 #6

Apartments are even more expensive than houses Zoomie1986 Jul 2024 #10

Disagree The Revolution Jul 2024 #20

Also you get back mortage interest plus expenses in tax returns yearly. brush Jul 2024 #27

You cannot deduct expenses for personal property. Voltaire2 Jul 2024 #38

I don't know about but my mortgage interest substantially increases my tax return. brush Jul 2024 #41

Renters need to be helped FIRST. valleyrogue Jul 2024 #7

Funny, I was just browsing real estate listings in my area and a new listing caught my eye. Vinca Jul 2024 #8

Consider yourself lucky. Nothing in the Bay Area is going for less than $1.25 million. PeaceWave Jul 2024 #9

Not so unusual, really. MineralMan Jul 2024 #11

How is it "exaggeration?" Labor and materials costs have gone up. PeaceWave Jul 2024 #12

The exaggeration is in limiting such statements MineralMan Jul 2024 #13

Out of curiosity, I just looked up the cheapest detached house in Palo Alto...$1.87 million. PeaceWave Jul 2024 #14

You're not paying attention. MineralMan Jul 2024 #15

I'm paying attention. I just don't want to live anywhere other than California. PeaceWave Jul 2024 #17

OK. I dont mind. MineralMan Jul 2024 #18

The cited article was specifically about the increase Voltaire2 Jul 2024 #39

That's true, and people who read the article will know that. MineralMan Jul 2024 #43

We brought our home in 1993 in SF for $260,000 kimbutgar Jul 2024 #16

But you have that house. MineralMan Jul 2024 #19

I also inherited my parents home they brought in 1955 for $12,000 kimbutgar Jul 2024 #28

Want to know why? Because people want to live there... brooklynite Jul 2024 #21

Yep Yo_Mama_Been_Loggin Jul 2024 #24

And yet, home ownership rates are largely static Johnny2X2X Jul 2024 #22

I clicked on the link senseandsensibility Jul 2024 #23

If the average is 1M, then many homes go for less then that Kaleva Jul 2024 #25

It was bottom third...like median a better measure of average than mean JT45242 Jul 2024 #32

I wonder how wide a range the bottom third covers? Kaleva Jul 2024 #36

And as long as fools keep buying them... Think. Again. Jul 2024 #26

Why are they fools? brooklynite Jul 2024 #30

I think very few are hoping for it True Dough Jul 2024 #29

A starter home is typically 2-3 bdrms, 2 baths, small yard, garage. brush Jul 2024 #31

In Sacramento, my 4 Bed 3.1 Bath goes for 500K padfun Jul 2024 #33

My slightly less than 1000 sq ft, 3 bdr, 1 bath, single car garage house is appraised at 500k. Yo_Mama_Been_Loggin Jul 2024 #37

Menlo Park, Ca cheapest house on Zillow is $1.6. 2 bed/1bath built in 1937!! Crazy!! MenloParque Jul 2024 #34

Vulture Captalists trying to create another crash. Clouds Passing Jul 2024 #35

20 x 40 log home built in 2000. 1600 total sf of living space (3 floors). OAITW r.2.0 Jul 2024 #40

1983 we paid $74,900 for a starter home RussBLib Jul 2024 #42