Home Prices

[Segnosaur]

I bought a 3 bedroom town home in Ottawa approximately 3 years ago for 140k. (Its in an area where all the houses follow one of several identical building plans.)

Over the past winter, houses with my identical floor plan in my neighbourhood were listed for sale at 215K.

So, that's about a 70k increase in less than 3 years.

 

[Hexxenhammer]

Pittsburgh has one of the lowest housing costs of any metropolitan area in the country. You can still get nice homes in decent neighborhoods for under $100,000. Between $100K and $200K you can get homes you couldn't even dream of touching anywhere else. If you want a half-million or million dollar palace, we've got those too.

As my buddy in Pittsburgh tells me. Of course, he still lives with his parents at 30 years old. And he's got a good job.

 

[diddidit]

I read somewhere fairly recently (might have been in National Geographic) about a family in Silicon Valley. Despite a six-figure income, they were homeless, and lived in a shelter.

I've got it pretty decent - we bought our house for just under 80k, and got about 1400 square feet, a double-size lot (132' square), great trees, a detached garage with shop, an almost-daily walk-thru by a flock of wild turkeys, and a short walk to a park with Lake Michigan access. Of course, we have the worst kitchen in Michigan, and had to deal with the previous owner's cat whiz problems. I'd prefer a shorter commute, but equivalent houses near my job are twice the price...

did

 

[Michael Redman]

Where do you live? South Minneapolis?

Ramsey Hill in St. Paul.

It's interesting how one direction of sprawl becomes very popular (and expensive), while nice, undeveloped land can be had cheaper where people are not flocking. Here, and in Houston, everyone seems to want to go West, and they have to deal with higher prices, and worse traffic (plus, sun in your eyes driving to and from work). To the South, in both cities, there is undeveloped land open that is closer to downtown, and cheaper. (I'm thinking Pearland in Houston, S and SE suburbs here) In fact, it seems people want to go West in many metro areas, and the east side is often the older, more run down area of town. What's the deal with that?

 

[Thanz]

In fact, it seems people want to go West in many metro areas, and the east side is often the older, more run down area of town. What's the deal with that?

This goes back many many years and has to do with the fact that prevailing wind patterns in North America run west to east. THe west end of a city will therefore generally have less smog, pollution, smell from industry in or near an urban centre.

 

[WildCat]

On the plus side, even though monthly rent here is almost $2 per square foot, there's easily a hundred restaurants within walking distance, night life galore, and even (believe it or not) easy street parking (though go a few blocks in any direction and that changes rapidly!). Wrigley Field is within walking distance too, though I'm a White Sox fan. I can park my car on Friday, do things all weekend and not have to drive again until Monday. If I had a job that didn't require lots of tools I wouldn't have to drive at all. I can also catch a cab right in front of my apartment 24/7 without having to call for one.

Which is the reason prices are high here.

 

[BTox]

I thought central NJ prices were high, but there are always places that are worse. We paid 230K 11 yrs ago for 2600 sf house on 2 acres, today it's ~ 425K.

 

[jj]

I thought central NJ prices were high, but there are always places that are worse. We paid 230K 11 yrs ago for 2600 sf house on 2 acres, today it's ~ 425K.

Sold a 3200 sq ft 5 br house for 525K last year near Morristown.

Bought 5 years before that for 345. Now worth over 600K.

In this economy.

You figure.

 

[BTox]

Yep, our house is almost 40 years old. New developments in our town (between Princeton and Somerville) are selling at 600K and up. Amazing what people will pay to live in NJ!

 

[jj]

Yep, our house is almost 40 years old. New developments in our town (between Princeton and Somerville) are selling at 600K and up. Amazing what people will pay to live in NJ!

Hillsboro?

I'll be staying in Bridgewater in October, and driving down to Princeton to give a talk on Oct 7, I think, after I give a talk in Middletown. If you get IEEE local section stuff, look for it

 

[Hexxenhammer]

Ramsey Hill in St. Paul.

It's interesting how one direction of sprawl becomes very popular (and expensive), while nice, undeveloped land can be had cheaper where people are not flocking. Here, and in Houston, everyone seems to want to go West, and they have to deal with higher prices, and worse traffic (plus, sun in your eyes driving to and from work). To the South, in both cities, there is undeveloped land open that is closer to downtown, and cheaper. (I'm thinking Pearland in Houston, S and SE suburbs here) In fact, it seems people want to go West in many metro areas, and the east side is often the older, more run down area of town. What's the deal with that?

Yeah, when my wife and I want to move to a single family home instead of our townhouse in a few years we'll probably end up looking in like Eagan or SE Bloomington if not Inver Grove Heights. We won't be able to afford to move into a house in our current neighborhood.

 

[BTox]

Hillsboro?

I'll be staying in Bridgewater in October, and driving down to Princeton to give a talk on Oct 7, I think, after I give a talk in Middletown. If you get IEEE local section stuff, look for it

Yes, Hillsborough. There's an IEEE on Hoes lane in Piscataway near where I work - are you an electrical engineer? I'm a chemist, electronics are Greek to me

 

[jj]

Yes, Hillsborough. There's an IEEE on Hoes lane in Piscataway near where I work - are you an electrical engineer? I'm a chemist, electronics are Greek to me

That's IEEE World HQ there.

Yeah, I am an EE.