THE AVERAGE HOME
WHEN IN THE WORLD DID THIS HAPPEN ?
It seems it's not a bit unusual for the average home to cost a million, WOW.
DOESN'T LOOK VERY BIG
HOW MUCH REAL ESTATE $l MILLION BUYS
Time was (and not so long ago), that seven figures could buy you something really special. A penthouse with amazing views. A stunning Hamptons home. A really, really great place in California. On the beach.
But in nearly every corner of the U.S., the days of million-dollar mansions are, sadly, over. Welcome to an era of million-dollar bungalows, garden apartments and two-bedroom condos (in need of renovation).
However, most Americans still consider $1 million a lot of money, no matter what their real estate agents tell them--and rightly so. The problem is that in certain markets, there seems to be a complete disconnect between property value and the buying power of a dollar. In Manhattan, for example, one million bucks buys a two-bedroom condo--and usually not in a great part of town or with oodles of compensating charm. In the Hamptons, it will buy a modest A-frame unfashionably deep in the woods.
ONE MILLION - For a two bedroom anything , is just beyond my comprehension!
posted by EXSENO at 11:10 AM
12 Comments:
I can't believe property values in GA are like that, wow! It's like that here in northern VA, but you wouldn't expect that in GA, or a southern state like that. WoW, average my butt!
Must be in a awfully good side of town.
Well you think a cool million for a 2 bedroom Manhattan apartment is bad, how about a 1 bedroom Manhattan apartment for 1.7 mil? Yeah and I wanted to move to that part of NY too, but I think I might need to auction off my living collection of aliens I abducted from Mars before I can afford 1st month's rent.
Ya, New York has always had outragous rentals, but GA.
Location, location, location!
Here in Maine, we've nothing that inflated, but there's a real difference from the seacoast to inland. More of the native Mainers can't afford to live on the coast anymore and are moving inland.
Peace,
Tor
that's just crazy!! i will always think $1 million is a lot of money.
everything's so expensive these days!!
location, location, location?
same exact house in the seedy part of town my sell for $50,000
Yikes!! I'm glad the real estate in H-town isn't nearly that high. Course neither are the salaries so it all evens out.
Oh no it doesn't even out and that's the problem with it.
Read that little part of the post that says Property value and buying power.
At that rate, me and juan will rent FOREVER!
sigh.
There is a boom in prices of the Real Estate every where. Economists say real estate is the only thing investor think is real. Which is why investment started from Stocks, then in Real Estate and now (or in future) will be focusing on holding gold. Who know where it is going to end.
OH MY!!!!!! i used to live in GA a long time ago 'n i thought the property there won't be THAT expensive... or.. did i just live in the wrong side of town? :D
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