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jnico
LIF Adolescent
Member since 10/05 798 total posts
Name:
Joanne
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Very Interesting...
I knew there was a reason I was moving to N.C. next month. The average home price for Long Island is
$433,200 which is 43.9% overvalued!!!!
http://www.usatoday.com/money/economy/housing/2006-06-13-overchart.htm
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Posted 6/15/06 10:54 PM  |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Very Interesting...
Interesting, but not surprising!  What area of NC are you moving to?
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| Posted 6/15/06 11:04 PM |
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jnico
LIF Adolescent
Member since 10/05 798 total posts
Name:
Joanne
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Re: Very Interesting...
Winston Salem. We are buying a townhouse down there! I am so excited and actually can't wait!
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| Posted 6/15/06 11:08 PM |
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My2Boys
Love.
Member since 10/05 4796 total posts
Name:
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Re: Very Interesting...
That's great! Congrats and good luck with the move!
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| Posted 6/15/06 11:10 PM |
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Jenziba
?
Member since 5/05 6265 total posts
Name:
Jennifer
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Re: Very Interesting...
Congrats!
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| Posted 6/15/06 11:48 PM |
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sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
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Re: Very Interesting...
wow, that is the highest % I've seen published for our area. Everything I read recently was much lower than that. However that rates are rising & the RE market here is slowing.
Good luck with your move!
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| Posted 6/16/06 6:54 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Very Interesting...
Posted by jnico
I knew there was a reason I was moving to N.C. next month. The average home price for Long Island is
$433,200 which is 43.9% overvalued!!!!
http://www.usatoday.com/money/economy/housing/2006-06-13-overchart.htm
  
ETA: where do people work that they can afford this mortgage? DH and I do pretty well.... and yes, we could buy a house for that much, and have no money for anything else practically! that's not "living"
Message edited 6/16/2006 7:33:53 AM.
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| Posted 6/16/06 7:32 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Very Interesting...
most people who bought 10 years ago couldnt afford to buy the same house again.....
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| Posted 6/16/06 8:36 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Very Interesting...
Posted by Meaghan729
most people who bought 10 years ago couldnt afford to buy the same house again.....
that's very true! I have asked every homeowner I know (that bought their house yrs ago) and they all say they couldn't afford their house today.
Even DH's boss said "I don't know how people do it today". and he's LOADED! time to give my husband a raise, el cheapo! 
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| Posted 6/16/06 9:22 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: Very Interesting...
Posted by Meaghan729
most people who bought 10 years ago couldnt afford to buy the same house again.....
My friend and I were saying this a few weeks ago -- she could probably get double what she paid for her house but in order to "move up" she would need to spend a lot more then what she would get.
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| Posted 6/16/06 9:37 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Very Interesting...
Posted by Christine
Posted by Meaghan729
most people who bought 10 years ago couldnt afford to buy the same house again.....
My friend and I were saying this a few weeks ago -- she could probably get double what she paid for her house but in order to "move up" she would need to spend a lot more then what she would get.
Yep, my home is worth about $550. Shocking, frankly. In order to get a bigger house I would have to spend at least another $80-100k. 
So, for now I'm staying put. If I moved further east I could get a bigger home for the same money, but I work in the city and further out east would be killer for me. I paid $365K 3 1/2 years ago.
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| Posted 6/16/06 10:01 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Very Interesting...
it's crazy- to think my Dad is selling his house for 12 times what he paid to have it built 30 years ago- and $50k was a TON of money in 1976-it was $10K more to build north of 25A and my parents couldn't swing it
if that happens to us- a $500K house - will be $6 Million in 30 years!
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| Posted 6/16/06 10:10 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Very Interesting...
Posted by Beth1210
it's crazy- to think my Dad is selling his house for 12 times what he paid to have it built 30 years ago- and $50k was a TON of money in 1976-it was $10K more to build north of 25A and my parents couldn't swing it
if that happens to us- a $500K house - will be $6 Million in 30 years!
 can you imagine that? our kids will be living in cardboard boxes 
ETA: just took a peak and there are almost 36,000 houses for sale on LI, on multiple listings!
Message edited 6/16/2006 10:20:20 AM.
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| Posted 6/16/06 10:19 AM |
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