LA, Miami, and NYC -- broke boys not allowed

[OfTheCross]

LA, NYC, Miami Rank as Least Affordable Housing Markets

In the just-released September index, the firm’s data found the median asking price of City of Los Angeles homes was $930,000, while the city’s median household income is $62,000. A family earning that amount would have to spend 82.5 percent of it to buy a median-priced home.

“And you also have to think about the down payment,” Lee noted. To come up with that, another study from the company found, the average L.A. homebuyer would have to save for at least 13 years.

New York, with a slightly higher median home price, ranked as even less affordable, with the average family there required to fork over 82.9 percent of income in order to buy a median-priced home.

Miami, where median home prices and incomes are lower, was third least affordable at 82 percent, followed by Newark (72 percent) and San Francisco (66 percent). Detroit, Wichita and Fort Wayne, Indiana ranked as the country’s most affordable of the 100 markets (all were under 20 percent).

 

[King]

And it’s not slowing down either.

Cali is like two separate worlds.

If you own a house, you can live a normal life. If you don’t, you’re stuck in an apartment. Or homeless. There is no in between.

If you don’t it’s a constant struggle unless you’re very well paid. Everyone lives in apartments. Those who don’t bought their house at least a decade ago.

I hate it here and and moving as soon as I get my career started, it’s fukking unbearable I hate apartment living. You’re legit treated like a slave paying at least a grand, if not 1500-2000, for a nice studio because the property management companies know there’s no other option.

 

[gho3st]

LA, NYC, Miami Rank as Least Affordable Housing Markets

In the just-released September index, the firm’s data found the median asking price of City of Los Angeles homes was $930,000, while the city’s median household income is $62,000. A family earning that amount would have to spend 82.5 percent of it to buy a median-priced home.

“And you also have to think about the down payment,” Lee noted. To come up with that, another study from the company found, the average L.A. homebuyer would have to save for at least 13 years.

New York, with a slightly higher median home price, ranked as even less affordable, with the average family there required to fork over 82.9 percent of income in order to buy a median-priced home.

Miami, where median home prices and incomes are lower, was third least affordable at 82 percent, followed by Newark (72 percent) and San Francisco (66 percent). Detroit, Wichita and Fort Wayne, Indiana ranked as the country’s most affordable of the 100 markets (all were under 20 percent).

Houses in Miami used to be mad cheap back on the day

 

[OfTheCross]

Houses in Miami used to be mad cheap back on the day

If I ain't get mine back then I'd be in the same position as @KingZimbabwe

 

[King]

If I ain't get mine back then I'd be in the same position as @KingZimbabwe

Fukk this shyt breh

I’m tryna land a 6 figure WFH gig and get a nice quiet safe house in the south where I can just chill with my feet up

It’s coming soon tho, just gotta keep grinding

 

[bammtronics]

It’s gonna be time for me to move soon and I’ve been considering a condo cause the amount of house I’d be able to buy (without waiting and saving more) in this city is so high I can’t fathom paying that much for a glorified shack

the other option is going 60 miles east or north

or renting…,for the same amount as a damn mortgage

 

[OfTheCross]

It’s gonna be time for me to move soon and I’ve been considering a condo cause the amount of house I’d be able to buy (without waiting and saving more) in this city is so high I can’t fathom paying that much for a glorified shack

the other option is going 60 miles east or north

or renting…,for the same amount as a damn mortgage

60 miles ain't that bad. make the move

 

[bammtronics]

60 miles ain't that bad. make the move

most of my family is out there, so I’m out that way often. I just really fukking hate it out out there

 

[Double Burger With Cheese]

It was a thread on here not too long ago where nikkas was trying to argue that Atlanta housing was less affordable than NY housing, and tried to use some stats to back it up. I dont know where them stats was from but they was wrong. Ain't no way

 

[UberEatsDriver]

LA, NYC, Miami Rank as Least Affordable Housing Markets

In the just-released September index, the firm’s data found the median asking price of City of Los Angeles homes was $930,000, while the city’s median household income is $62,000. A family earning that amount would have to spend 82.5 percent of it to buy a median-priced home.

“And you also have to think about the down payment,” Lee noted. To come up with that, another study from the company found, the average L.A. homebuyer would have to save for at least 13 years.

New York, with a slightly higher median home price, ranked as even less affordable, with the average family there required to fork over 82.9 percent of income in order to buy a median-priced home.

Miami, where median home prices and incomes are lower, was third least affordable at 82 percent, followed by Newark (72 percent) and San Francisco (66 percent). Detroit, Wichita and Fort Wayne, Indiana ranked as the country’s most affordable of the 100 markets (all were under 20 percent).

Miami is a prime example that cheap rent doesn’t mean cheap. Rent there is nothing compared to LA and NY but the pay is horrible

 

[Bubba T]

This dataset is using median household income of everyone in that particular area. Cut the median income by ~20-50% but keep the house pricing the same. This is one of the barriers black people face when wanting to buy a home.

 

[pawdalaw]

Geocrafting.

 

[OfTheCross]

Miami is a prime example that cheap rent doesn’t mean cheap. Rent there is nothing compared to LA and NY but the pay is horrible

yeah...Miami is a poor city when it comes to legal money

 

[UberEatsDriver]

It was a thread on here not too long ago where nikkas was trying to argue that Atlanta housing was less affordable than NY housing, and tried to use some stats to back it up. I dont know where them stats was from but they was wrong. Ain't no way

The thread you talking about was a completely different topic.


You uneducated people be exposing yaselves lol.

the last thread was was about how much the RENTAL market in each cities were overpriced by percentage.


This thread he about how much money you need to PURCHASE A HOME.


The last thread didn’t say Atlanta was less affordable than NY. You clearly made that up on here for daps. Lol

 

[Double Burger With Cheese]

The thread you talking about was a completely different topic.


You uneducated people be exposing yaselves lol.

the last thread was was about how much the RENTAL market in each cities were overpriced by percentage.


This thread he about how much money you need to PURCHASE A HOME.


The last thread didn’t say Atlanta was less affordable than NY. You clearly made that up on here for daps. Lol

Either way, the thread was preposterous, as the sentiment was Atlanta was more expensive to rent than NYC. I may have been mistaken on the details, but I damn sure ain't uneducated. Watch your mothafukking mouth you lame ass lil dude