(Closed) House markets

posted 5 years ago in Home
Post # 3
Member
10572 posts
Sugar Beekeeper
  • Wedding: January 2011

@KingsDaughter:  The US market crashed, and some areas were hit harder than others.  Some areas have also since recovered more than others.

Canada’s market didn’t crash, and continued to rise when the US market crashed.  Some people are waiting for the same thing to happen here.  I don’t think it will, but if things do slow down Toronto and Vancouver are likely to see the biggest hit.

Post # 4
Member
1416 posts
Bumble bee
  • Wedding: January 2013

I can’t help here, I’ve lived in the NY Metro area my entire life…the cheapest completely run down piece of crap house in a good school district is $300,000…to get anything you wouldn’t need to majorly repair is like $700,000. Darling Husband and I have resigned to not being home owners until much older, lol

Post # 5
Member
2425 posts
Buzzing bee
  • Wedding: May 2012

@AB Bride:  +1

The US housing market is recovering but still not back to where it was a few years ago. Couple that with high unemployment and an overall slow economy and prices just haven’t bounced back. 

But it also depends vastly on the area. In the midwest for instance you can still get decent houses for under $100K. And you mentioned upstate NY is low, but it really varies from town to town. Where my parents live the average house is selling for $300K, and that is not for huge or extravagant, just for a basic suburban house (say 3-4 bedrooms, 2 bath, etc).

Post # 7
Member
5972 posts
Bee Keeper
  • Wedding: April 2013

@KingsDaughter:  not to thread jack..but did you say “my fiances”?  As in…you have multiplul fiances?

 

And yes, the Canadian housing market is the worst.  I guess that’s what having nearly 50% of the population live in only 3 cities will do to you!

Post # 8
Member
2808 posts
Sugar bee
  • Wedding: September 2014

it depends on the area of the us too. i know that housing prices here in buffalo are way less than they are back home near boston. and then the housing prices in seattle where FI’s family is are completely different than they are here and at home. so it depends on the area.

 

also, house prices in canada are OUTRAGEOUS compared to the us. my best friend is in waterloo, ontario. a few years ago, her grandparents sold their house in milton for a LOT of money. it was a beautiful house, but when i saw how much it was on the market for, i did a doubletake. their house, on average, in buffalo would be around $250,000. but i think they sold it for almost $550,000.

Post # 12
Member
750 posts
Busy bee
  • Wedding: December 2014

Eh, property values in Texas are a lot lower than other parts of the country. A nice, very basic, 3 bed 2.5 bath house where I live is minimum $200,000. That same amount in Sonoma County, California, gets you a mobile home with a rented lot or a run down condo in a nondesireable area….and that’s after the market crashed. In 2007, our family house was appraised for 1.3 million. 3 beds, 2.5 baths, 2300 square feet, in a nice area. Some upgrades done, needing a few more. Seriously. 

Where we live now is still more expensive than some areas, but man, anything’s better than Wine Country was in the late 2000s. 

Post # 13
Member
7311 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

That is Texas. It’s not representative of the US. But you really couldn’t pay me to live there. Too hot and too right wing. So they can keep their cheap housing prices. lol

 

We live in the Washington DC area. In our area, for the house you described, you would pay about $625k for a builder grade home and have a 90-120 minute commute each way to the city. The cheapest house for sale in our entire half of the county is $399k, and it has less than 1500 square feet with a whole lot of 1960s faux wood paneling. You literally cannot buy anything for less than $400k here. To get that 3000 square foot house you described closer in to the city, you’re looking at a minimum of $800k (with a 60 minute commute each way).

 

Post # 14
Member
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

The downside of a lot of those places is that you have an awesome house, but live in a boring/conservative/whatever else bugs you city.

I grew up in Dallas/Ft Worth Texas, where you can buy a nice house for $150,000-250,000 (and less nice houses for $100,000).

I currently live in the San Francisco area where $500,000 buys you a 2-bedroom fixer upper with little to no yard (much like Toronto).

There is not a job, house, or amount of money that would convince me to live in Texas (or anywhere in middle America/the South, etc etc). There’s like, 4 places i’d consider in the USA to live.

Places are cheap for a reason!

Post # 15
Member
730 posts
Busy bee
  • Wedding: June 2010

Keep in mind that in Texas, cities have LOTS of suburbs. So you can buy a nice, big new house an hour outside of Houston and it’ll be WAY, WAY cheaper than something actually in Houston. It’s still called “Houston area,” but your mailing address likely isn’t actually Houston, TX. Same goes for Dallas, San An, Austin, etc.

Post # 16
Member
5972 posts
Bee Keeper
  • Wedding: April 2013

@KingsDaughter:  That’s what I thought at first but then I saw that you said “are” instead of is and I was like….hmm…I wonder…

 

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