So you want to move to the city.....OK....It’ll cost at least $1 million in these US cities for a "starter home"

[1srelluc]

https://finance.yahoo.com/news/want-starter-home-ll-cost-154248943.html

In more than 230 U.S. cities, $1 million is only enough for a starter home, according to a new report.

A Zillow analysis found that the typical “starter home” was worth at least $1 million in 233 cities as of March. That’s a huge jump from five years ago, when just 85 cities had million-dollar starter homes.

“First-time buyers are facing a market where prices that once seemed unimaginable have become reality,” Kara Ng, senior economist at Zillow, said in a statement.

Which states have the most $1 million starter homes?​

California leads the nation with 113 cities where starter homes cost $1 million, but pricey real estate has spread beyond the Golden State.

Half of U.S. states have at least one city with $1 million starter homes, and the number of such cities has increased in several states over the past year, with New York now at 32, New Jersey at 20, Florida at 11 and Massachusetts at 11.

Here’s the full list of the 10 states with the most cities where a $1 million starter home is currently the norm, according to Zillow:

1. California: 113 cities
2. New York: 32 cities
3. New Jersey: 20 cities
4. Florida: 11 cities
5. Massachusetts: 11 cities
6. Washington: 8 cities
7. Texas: 7 cities
8. Connecticut: 4 cities
9. Hawaii: 4 cities
10. Maryland: 4 cities

LOL....I don't know what their idea of a "starter home" is but mine was a 1K sq. ft. brick 3 BR-1bath ranch home on a crawlspace.

Here's a thought....End government subsidization of mortgages.

If Fannie Mae and Freddie Mac didn't exist, neither would this.

Throw loose and easy money at anything and it will become stupid expensive. College is the same problem, government loans = crazy inflation.

 

[Zincwarrior]

Thats a lot.

 

[odanny]

California really needs to learn how to fix itself. I'm a little surprised a Chicago suburb did not make the top 10 list.

 

[Woodznutz]

People should tell their banks that they are saving for an affordable home.

 

[mudwhistle]

Thats a lot.

What it means is nobody can afford to buy anymore.

Thank Biden and the Dems for that.

 

[mudwhistle]

California really needs to learn how to fix itself.

Impossible.

 

[1srelluc]

I bet the same cities have pretty much made it impossible through zoning/regulations to build a traditional starter home.

 

[Zincwarrior]

What it means is nobody can afford to buy anymore.

Thank Biden and the Dems for that.

Thank geography for that. Couldn't afford to live there during the Trump admin either.

From the article:
The San Francisco metro had the next-highest count at 43, followed by Los Angeles (34), San Jose (16),
These are pinched in, landlocked areas.

Now Texas is harder to excuse. Texas cities are generally sprawling.

 

[Zincwarrior]

I bet the same cities have pretty much made it impossible through zoning/regulations to build a traditional starter home.

You can't build a start home now in the Bay area or LA Basin. All the starter homes, all the homes, were build decades ago.

 

[rightwinger]

I bet the same cities have pretty much made it impossible through zoning/regulations to build a traditional starter home.

That’s what they are zoning near me.
McMansions and Senior Communities

 

[rightwinger]

You can't build a start home now in the Bay area or LA Basin. All the starter homes, all the homes, were build decades ago.

And Boomers are sitting on them

 

[mudwhistle]

Thank geography for that. Couldn't afford to live there during the Trump admin either.

From the article:
The San Francisco metro had the next-highest count at 43, followed by Los Angeles (34), San Jose (16),
These are pinched in, landlocked areas.

Now Texas is harder to excuse. Texas cities are generally sprawling.

That's a bunch of BS.

CA isn't landlocked.

Except for the coastline....CA has plenty of open space to live in.....but Democrats are making sure that most of it is unlivable by cutting off water supplies.

 

[mudwhistle]

And Boomers are sitting on them

Nah.....they have no choice in the matter.

They're too old to move and moving would mean renting, which is unaffordable.

 

[Zincwarrior]

That’s what they are zoning near me.
McMansions and Senior Communities

Zoning doesn't exist in Houston. You can plop an oil refinery next to a church there.

 

[Zincwarrior]

That's a bunch of BS.

CA isn't landlocked.

Except for the coastline....CA has plenty of open space to live in.....but Democrats are making sure that most of it is unlivable by cutting off water supplies.

Those communities are on the coastline. What country do you live in that you don't know where the LA Basin and Bay Area are?

Now do Texas and Florida.*

*Who knew Florida man had so much money!

 

[1srelluc]

Zoning doesn't exist in Houston. You can plop an oil refinery next to a church there.

Another reason not to move to TX.....They love them some eminent domain.

 

[marvin martian]

California really needs to learn how to fix itself. I'm a little surprised a Chicago suburb did not make the top 10 list.

Ask anyone who's running anything in California politics and they'll tell you this is exactly the way they want it.

 

[mudwhistle]

Those communities are on the coastline. What country do you live in that you don't know where the LA Basin and Bay Area are?

Now do Texas and Florida.*

*Who knew Florida man had so much money!

What country do you live in that makes you think that SF and LA are the only communities in CA?

Have you ever driven thru CA, like I have?

 

[Pastelli]

https://finance.yahoo.com/news/want-starter-home-ll-cost-154248943.html

In more than 230 U.S. cities, $1 million is only enough for a starter home, according to a new report.

A Zillow analysis found that the typical “starter home” was worth at least $1 million in 233 cities as of March. That’s a huge jump from five years ago, when just 85 cities had million-dollar starter homes.

“First-time buyers are facing a market where prices that once seemed unimaginable have become reality,” Kara Ng, senior economist at Zillow, said in a statement.

Which states have the most $1 million starter homes?​

California leads the nation with 113 cities where starter homes cost $1 million, but pricey real estate has spread beyond the Golden State.

Half of U.S. states have at least one city with $1 million starter homes, and the number of such cities has increased in several states over the past year, with New York now at 32, New Jersey at 20, Florida at 11 and Massachusetts at 11.

Here’s the full list of the 10 states with the most cities where a $1 million starter home is currently the norm, according to Zillow:

1. California: 113 cities
2. New York: 32 cities
3. New Jersey: 20 cities
4. Florida: 11 cities
5. Massachusetts: 11 cities
6. Washington: 8 cities
7. Texas: 7 cities
8. Connecticut: 4 cities
9. Hawaii: 4 cities
10. Maryland: 4 cities

LOL....I don't know what their idea of a "starter home" is but mine was a 1K sq. ft. brick 3 BR-1bath ranch home on a crawlspace.

Here's a thought....End government subsidization of mortgages.

If Fannie Mae and Freddie Mac didn't exist, neither would this.

Throw loose and easy money at anything and it will become stupid expensive. College is the same problem, government loans = crazy inflation.

Newsom 's State OMG

 

[mudwhistle]

Another reason not to move to TX.....They love them some eminent domain.

TX is one of the last states I'd move to. Nothing but deserts, and flat grasslands once you reach Dallas/Ft Worth.
San Antonio is pretty if you're in town, but the river basin is full of snakes, ants, and all kinds of critters.
We couldn't even sleep on the ground at Ft Sam Houston.

I'd much rather move to Idaho.