Started By
Message

re: The salary you need to afford a home in 20 major US cities

Posted on 5/16/17 at 2:30 pm to
Posted by ThatMakesSense
Fort Lauderdale
Member since Aug 2015
15281 posts
Posted on 5/16/17 at 2:30 pm to
quote:

What's the most expensive in the world? Tokyo? Moscow? Hong Kong?


Monaco.
Posted by Jake88
Member since Apr 2005
80827 posts
Posted on 5/16/17 at 2:33 pm to
Why would someone making only 215k buy a 1.2 million dollar home? Dumb decision.
Posted by Blob Fish
Member since Mar 2016
3091 posts
Posted on 5/16/17 at 2:36 pm to
That's it! I'm moving back in with my parents!
Posted by Alt26
Member since Mar 2010
36169 posts
Posted on 5/16/17 at 2:36 pm to
quote:

If I was going to spend that much on a house, with that salary, I'd do it in TX, LA, TN, etc.. That's a beautiful home in a great part of the city in Houston, Dallas, New Orleans, and Nashville. In SF, that's an average looking, small home if you want to be close to the center of the action.

Plus, you don't have to live with SF residents.


San Francisco prices out all of the "undesirables" while also beating the drum for everyone else to strive for "equality". There's a reason Oakland is a shithole. It's San Francisco's section 8 tenement on the other side of town.
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
37473 posts
Posted on 5/16/17 at 2:37 pm to
quote:

Love it when these dumb fricking lists include Mufreesboro

They also list the average home price of New Orleans at 188k, you'll have to double that at minimum in order to live in an inhabitable area.
Posted by member12
Bob's Country Bunker
Member since May 2008
33146 posts
Posted on 5/16/17 at 2:40 pm to


I guess if they don't have to buy food or a car.
Posted by GRTiger
On a roof eating alligator pie
Member since Dec 2008
71834 posts
Posted on 5/16/17 at 2:40 pm to
quote:

They also list the average home price of New Orleans at 188k, you'll have to double that at minimum in order to live in an inhabitable area.


I imagine they include all areas of every city listed. The number is always lower than you think, because they are including the shittier parts of town that most people wouldn't want to live. I imagine it's the easiest or fairest way to make lists like this.
Posted by Epic Cajun
Lafayette, LA
Member since Feb 2013
37473 posts
Posted on 5/16/17 at 2:42 pm to
quote:


I imagine they include all areas of every city listed. The number is always lower than you think, because they are including the shittier parts of town that most people wouldn't want to live. I imagine it's the easiest or fairest way to make lists like this

It probably is, but some cities have much larger shitty areas than others
Posted by Bmath
LA
Member since Aug 2010
18919 posts
Posted on 5/16/17 at 2:53 pm to
quote:

So... the people who are screaming about living wages, socialism, etc. all attempt to concentrate in these areas. I know it's off topic, but I'm just attempting to understand how their want to live in areas that far outpace the national average for cost of living has any correlation with conservatives holding them down.


While the media covers SJW groups pushing for these things, most of the people actually needing living wages or a raise in minimum wage typically are already from those areas. If you are poor, it's difficult to move out of an area.
Posted by tigrbabe08
Member since Apr 2017
219 posts
Posted on 5/16/17 at 2:59 pm to
I'm thinking the same tomfoolery is going on with the Chicago numbers. I was always under the impression that Chicago was quite pricey to live in if you didn't want to reside in the hood.

Murfreesboro's real estate is getting out of control too. They're building some expensive new homes over by Siegel High and from what I've been told, people are filling them with the quickness. Used to be a sleepy little college town that nobody lived in unless you worked at State Farm or Nissan.
Posted by AbitaFan08
Boston, MA
Member since Apr 2008
27902 posts
Posted on 5/16/17 at 3:03 pm to
quote:

I was always under the impression that Chicago was quite pricey to live in if you didn't want to reside in the hood.


Maybe I'm jaded from the Boston real estate market, but when I was in Chicago about a year ago I was surprised at how much more affordable apartments were. And I definitely wasn't walking around the hood.
Posted by LoveThatMoney
Who knows where?
Member since Jan 2008
12784 posts
Posted on 5/16/17 at 3:03 pm to
Cities are not localized enough to accurately depict cost of living, especially if that city's jurisdictional boundary has a massive footprint or a small one. As was stated earlier, if you're living in Manhattan, it's probably around $3M for 2,000 sq ft loft.
Posted by ellishughtiger
70118
Member since Jul 2004
21182 posts
Posted on 5/16/17 at 3:12 pm to
Same can be said as the East is bringing home values in Nola down as well. Time for the east to secede to make New Orleans property value great again.
Posted by pjab
Member since Mar 2016
5775 posts
Posted on 5/16/17 at 3:36 pm to
$600k in Manhattan will buy a 400-600sqft which means a studio or 1 bed. In most cities the listed median respresents a home for a family. Double the $600k if you want 2 bedrooms.
Posted by Capo Losi
Baton Rouge
Member since Sep 2016
2193 posts
Posted on 5/16/17 at 3:42 pm to
I hace friends moving from Denver to BR because of housing costs. They estimate they can retire a good decade earlier.
Posted by LSU316
Rice and Easy Baby!!!
Member since Nov 2007
30308 posts
Posted on 5/16/17 at 3:43 pm to
quote:

New Orleans

Median home price: $188,055

Income needed for a 10 percent down payment: $31,188
Income needed for a 20 percent down payment: $26,048


So lets say I have 40 grand laying around. Yet given that, I only make 30K/year. I don't see any way in hell that I'd get approved for a loan at 165000+. Is that right? I mean if that person had 0 debt I bet they would be hard pressed to get financed for that amount with that income.

Am I wrong here?
Posted by pjab
Member since Mar 2016
5775 posts
Posted on 5/16/17 at 3:43 pm to
quote:

Monaco


The Monoco Grand Prix is in two weeks. True ballers.
Posted by SanFranTiger
Santa Fe, NM
Member since Sep 2003
5049 posts
Posted on 5/16/17 at 3:46 pm to
quote:

Plus, you don't have to live with SF residents.


Hey now. I am downright delightful!
Posted by AwesomeSauce
Das Boot
Member since May 2015
11631 posts
Posted on 5/16/17 at 3:54 pm to
quote:

most of the people actually needing living wages or a raise in minimum wage typically are already from those areas


This is a keyword here. The people that need it aren't at the forefront of the conversation, nor are they the ones who are being the most vocal for it. My point is/was that their is a large concentration of people in these areas who glamorize the lifestyles there, but cannot afford it. Therefore other people should pay for it via taxes or inflation to support them. I have no problem with each local municipality or state government setting and maintaining a living wage. I do have an issue with people championing for a set of guidelines mandated nationally and paid for nationally that only helps a few while further punishing the silent majority who already fund the majority of government.

I could have been more clear with my original argument, but I am in no way marginalizing the struggle of those in need. My only argument is that with such varying costs of living that the whole $15/hr crap that has gone nationwide is asinine. The socialism bit was just a bit of vitrol from being a Xer with a lot of Xer "friends" and family who have no concept of global economics or how stateside socialism could be a huge catalyst for a second depression nationally and globally. Though I guess it would be poetic justice that what helped save the US the last time could be a final straw this time.
Posted by brass2mouth
NOLA
Member since Jul 2007
20735 posts
Posted on 5/16/17 at 3:58 pm to
quote:

a great part of the city


quote:

New Orleans


Does not compute.
This post was edited on 5/16/17 at 3:59 pm
first pageprev pagePage 2 of 3Next pagelast page

Back to top
logoFollow TigerDroppings for LSU Football News
Follow us on X, Facebook and Instagram to get the latest updates on LSU Football and Recruiting.

FacebookXInstagram