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Default Average home price in USA now $232,000 higher than United Kingdom…
Posted on 11/3/22 at 5:58 pm
Posted on 11/3/22 at 5:58 pm
and $80,000 higher than Canada.
Jerome Powell's federal reserve printed so much money that the housing bubble in Canada and United Kingdom is very small compared to the USA.
I noticed that rents and housing prices in much of Canada and United Kingdom are extremely low compared to the United States.
The housing bubble in Canada and UK is very little compared to the United States of America
Average home price in Canada is $465,000 in USA dollars and the Average home in the UK is $310,000 in USA dollars.
The average home price in the Northeastern United States is now $1,037,000 which is well over triple that of the UK and more than double that of Canada.
I notice that Canada and United Kingdom also have interest rates in the 5% to 6% range, much lower the interest rates
https://fred.stlouisfed.org/series/ASPUS
https://fred.stlouisfed.org/series/ASPUS
https://fred.stlouisfed.org/series/ASPNE
https://www.forbes.com/uk/advisor/personal-finance/2022/11/01/house-prices-updates/
https://wowa.ca/reports/canada-housing-market
Jerome Powell's federal reserve printed so much money that the housing bubble in Canada and United Kingdom is very small compared to the USA.
I noticed that rents and housing prices in much of Canada and United Kingdom are extremely low compared to the United States.
The housing bubble in Canada and UK is very little compared to the United States of America
Average home price in Canada is $465,000 in USA dollars and the Average home in the UK is $310,000 in USA dollars.
The average home price in the Northeastern United States is now $1,037,000 which is well over triple that of the UK and more than double that of Canada.
I notice that Canada and United Kingdom also have interest rates in the 5% to 6% range, much lower the interest rates
https://fred.stlouisfed.org/series/ASPUS
https://fred.stlouisfed.org/series/ASPUS
https://fred.stlouisfed.org/series/ASPNE
https://www.forbes.com/uk/advisor/personal-finance/2022/11/01/house-prices-updates/
https://wowa.ca/reports/canada-housing-market
8
Posted on 11/3/22 at 6:03 pm to Between TheHedges
quote:That's too many links but no way this is accurate
The average home price in the Northeastern United States is now $1,037,000 which is well over triple that of the UK and more than double that of Canada.
ETA - https://www.fool.com/the-ascent/research/average-house-price-state/
July but no way it has changed that much
This post was edited on 11/3/22 at 6:11 pm
Posted on 11/3/22 at 6:13 pm to Between TheHedges
They are waaaay too high IMO. My next door neighbors house just sold in a week, cash offer from Cali. I see a theme of this with a lot of houses being sold in Savannah GA. I'd never thought it would sell due to asking price. shite is getting crazy.
Posted on 11/3/22 at 6:31 pm to Between TheHedges
My son just bought one in NOVA.
1 ac. riverfront / 2500 sq ft / 60 yo 1.6M
1 ac. riverfront / 2500 sq ft / 60 yo 1.6M
Posted on 11/3/22 at 6:36 pm to Between TheHedges
Is that adjusted for sq ft?
Posted on 11/3/22 at 6:38 pm to deeprig9
These new 96 year mortgages make that look like nothing
Posted on 11/3/22 at 6:41 pm to LSUbest
quote:I guess you mean northern Virginia but riverfront in Virginia is anything but "average".
My son just bought one in NOVA.
1 ac. riverfront / 2500 sq ft / 60 yo 1.6M
Posted on 11/3/22 at 6:48 pm to Diamondawg
quote:
I guess you mean northern Virginia but riverfront in Virginia is anything but "average".
Right on both.
I don't know how much riverfront adds for either place but regular housing is outrageous up there, especially close to Arlington.
My daughter is house hunting in Richmond area, the prices are x2 to x3 compaired to SWLa.
Posted on 11/3/22 at 6:49 pm to Between TheHedges
Avg British home
Avg home in US
Avg home in US
Posted on 11/3/22 at 6:53 pm to deltaland
quote:Dayum Oklahoma. Y'all live in mud huts?
Oklahoma $181,574
Posted on 11/3/22 at 6:55 pm to LSUbest
quote:
My son just bought one in NOVA. 1 ac. riverfront / 2500 sq ft / 60 yo 1.6M
That’s cheap for here. 1 acre on the Potomac river in NOVA for 1.6M? There are McMansions on postage stamp lots around here going for that.
Posted on 11/3/22 at 6:56 pm to Between TheHedges
To be clear...
Where is that line drawn?
As several have mentioned, it isn't the average American home.
quote:
The average home price in the Northeastern United States is now $1,037,000
Where is that line drawn?
As several have mentioned, it isn't the average American home.
Posted on 11/3/22 at 6:57 pm to g650Tide
quote:
They are waaaay too high IMO. My next door neighbors house just sold in a week, cash offer from Cali. I see a theme of this with a lot of houses being sold in Savannah GA. I'd never thought it would sell due to asking price. shite is getting crazy.
I'm up I16 from you a bit and the houses in my neighborhood went from $180k in 2016 to $450 now.
I'm thinking about selling and buying a bank repo in the sticks.
Posted on 11/3/22 at 6:59 pm to Between TheHedges
Lol have you seen houses in UK? Most people live in tiny shite holes.
Posted on 11/3/22 at 7:05 pm to Diamondawg
No they just dont waste money. Only state to vote pure red in every county last election
Posted on 11/3/22 at 7:12 pm to Strannix
quote:
Lol have you seen houses in UK? Most people live in tiny shite holes.
With the laundry done in their kitchens
Posted on 11/3/22 at 7:45 pm to Nado Jenkins83
quote:I don't doubt you but not wasting money only goes so far. But other than that, what's incongruent, home prices stay high and are rising with interest rates at 7%. That interest rate knocks most folks out of the market so demand decreases while the supply is the same. Home prices should be coming down to get those out of the market, back in it.
No they just dont waste money. Only state to vote pure red in every county last election
Posted on 11/3/22 at 8:12 pm to Between TheHedges
quote:
Average home in the UK is $310,000 in USA dollars.
Monthly expenses off-set by all four grandparents sharing one double bed in the living room and eating a daily diet of cabbage soup.
Posted on 11/4/22 at 6:38 am to Diamondawg
Its also oklahoma. Not a highly desireable place to live at first glance.
Posted on 11/4/22 at 7:24 am to deltaland
Home difference surely plays a part in the discrepancy, but right now our housing market is really fricked up. I’m wondering if Canada and England allow corporations and foreign investors to purchase multiple homes? That’s a big issue we have here; although no one really is talking about it.
The Chinese in particular are funny when it comes to buying multiple homes. They have entire cities over there that are basically ghost towns because people are buying 2nd, 3rd, 4th homes or more rather than putting it in some other form investment or retirement. We’re talking cities that should have 500k+ people but have 10k actually living there. It’s gotten so bad there that the government has been cracking down on it and even going so far as to demolish some of these cities.
Those investors are now putting that money into the American home market. Between those individuals, companies that they’ve formed, social groups, and American based investment groups now doing the same, the market is getting manipulated and the “average” American family is getting ousted in the process. Frontline did a bit and showed a generic neighborhood in Dallas that has over a third of their homes sold in the past two years went to investment groups (about half of which were foreign). This is replicated across many parts of the US.
The Chinese in particular are funny when it comes to buying multiple homes. They have entire cities over there that are basically ghost towns because people are buying 2nd, 3rd, 4th homes or more rather than putting it in some other form investment or retirement. We’re talking cities that should have 500k+ people but have 10k actually living there. It’s gotten so bad there that the government has been cracking down on it and even going so far as to demolish some of these cities.
Those investors are now putting that money into the American home market. Between those individuals, companies that they’ve formed, social groups, and American based investment groups now doing the same, the market is getting manipulated and the “average” American family is getting ousted in the process. Frontline did a bit and showed a generic neighborhood in Dallas that has over a third of their homes sold in the past two years went to investment groups (about half of which were foreign). This is replicated across many parts of the US.
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