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NY Now Priciest Housing Market
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LINewbie
Tigger the the Rescue!
Member since 8/08 5647 total posts
Name:
LB
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NY Now Priciest Housing Market
Just lovely. Up from 2nd.
CNN article
New York was the least affordable major housing market in the country, according to the report. It was the first time that a major metropolitan area outside of California was the least affordable home market in the 17-year history of the report. Los Angeles was the least affordable housing market at this point last year. "Prices went down a lot in both areas, but they fell a lot more in Los Angeles," said Ahluwalia.
"Prices are declining very rapidly in California because of a large supply and low demand."
In New York, the median home price fell slightly year over year to $481,000 from $510,00. That led to an increase in affordability; 11.4% of households earning the median income of $63,000 could afford to buy a median priced home, up from 6.3% in the second quarter of 2007.
I just wish there were jobs in CA. Ugh!!! 
We earn more than the median income but no way could we afford a $481,000 house! Man I wish!!!!
Message edited 8/21/2008 10:47:39 AM.
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Posted 8/21/08 10:46 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: NY Now Priciest Housing Market
WE'RE #1!!  WE'RE #1!! WE'RE #1!!
.... oh, wait.... that's not good....
I wonder how long this can be sustained? If housing keeps going up faster than salaries, there will be a point where only multi-millionaires can live on LI.....
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| Posted 8/21/08 11:02 AM |
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isabelle2137
LIF Adult
Member since 12/06 1076 total posts
Name:
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Re: NY Now Priciest Housing Market
Posted by GoldenRod
WE'RE #1!! WE'RE #1!! WE'RE #1!!
this made me laugh!!
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| Posted 8/21/08 1:52 PM |
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Sandy55
My family ROCKS!!!
Member since 2/08 1219 total posts
Name:
Sandy
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Re: NY Now Priciest Housing Market
Posted by isabelle2137
Posted by GoldenRod
WE'RE #1!! IMAGE WE'RE #1!! IMAGE WE'RE #1!! IMAGE
this made me laugh!!
cute...reminds me of that Charlie Brown movie with the river race.
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| Posted 8/21/08 2:20 PM |
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jbellis74
LIF Infant
Member since 7/08 149 total posts
Name:
Jason
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Re: NY Now Priciest Housing Market
Somehow I think NY will always be in the top 5 in this area....nothing seems to affect our area because as bad as the economy may be people will always want to live in one of the best cities in the world.
Message edited 8/21/2008 2:26:02 PM.
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| Posted 8/21/08 2:25 PM |
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