More than I have ever been able to afford for all of my adult life.
Wage is 10k, house is 2m.
You’re asking mostly people in the western world, a place besieged by a commodified property’s market. The landed gentry is returning, only this time by way of capitalism.
The USA is huge variation but in my county median household income is $70k, median home price is $370k. It’s a rural area but with 2 cities within 40 miles or so. In my location travel north and income and house prices increase, travel south and they both decrease. My mortgage including taxes and insurance is $1,200 per month.
That’s not even a question that has one answer in my neighborhood, much less the whole city. And the whole US? Forget it.
Who mentioned the US?
OP: The original wording was “…in your country”.
A nice house? Unattainable. A 90s RV? Possible.
Absurdly high is what they are!
House is around 500k, median annual family income is 61.4k.
I had a look and it so happens there are 2 properties for sale within a few hundred meters from me.
€ 200,000 for a one room apartment of 46 m²
€ 560,000 for a large apartment with balcony
The nearest house costs a bit over € 1.2 million.
I got lucky with a cheap apartment ~40m² for € 662/month (which is almost as much as minimum wage here btw). Renting till I die I guess 🤷
This sounds exactly like where I’m at lmao
Houses: 2.5 million+
Townhouses: 1 million+
Apartments: 750k+
Median (individual)Income: 39k (post tax)
The house I rent for £1100 a month would cost somewhere in the region of £250k to buy, putting it firmly out of my ability, despite the mortgage payments almost certainly being lower than my rent.
Crazy isn’t it. We’re looking for ‘cheap’ houses in our area for £300k-£400k… Help
Inner eastern Melbourne, Australia. Properties are bought by Chinese investors (not racist, stating a fact) for AU$1-2 million, demolished, replaced with McMansions, sold for over AU$4 million. Within ten years these garbage concrete boxes are cracking and falling apart.
Some suburbs look like McMansion ghettoes and are completely out of reach of ordinary people.
Small houses in most Florida Metro areas are in the 400k range… Multiple 3/2s in the 1500sq range are 500k+
Late last year I bought a house. 1 hour from work because I couldn’t buy a house closer. It still cost 499k for 1480sq ft. My mortgage is $3600/mo
Moving closer to work and I couldn’t find any similar sized homes for less than 750k and those were fixer-uppers.
A 600 sq.ft condo is about $850k. On the standalone house side an older 2000 sq.ft house goes for over $2 Million.
