Zillow is a part of the problem. With all the data collected and only a few companies, prices are conveniently increasing at extreme rates. It is not just cities; land and rural areas are increasing at high rates.
'Starter homes' cost at least $1 million in over 200 U.S. cities, Zillow data finds
Submitted 4 weeks ago by return2ozma@lemmy.world to aboringdystopia@lemmy.world
Comments
Bluefalcon@discuss.tchncs.de 4 weeks ago
refurbishedrefurbisher@lemmy.sdf.org 4 weeks ago
The real issue is the commodification of housing. Houses shouldn’t make people money; they are supposed to be homes to live in.
NatakuNox@lemmy.world 4 weeks ago
This! We have the means to provide housing for everyone but don’t because, fuck you thats why.
TON618@lemmy.world 4 weeks ago
I don’t necessarily agree that people can’t make any money on a property portfolio, but it should definitely have a set limit to prevent life’s essentials from becoming unaffordable. But I wouldn’t stop there and continue this with other essentials like healthy consumables and utilities like power and some basic form of broadband internet.
shalafi@lemmy.world 4 weeks ago
Nothing wrong with houses as individual investments. Why the hell else would you dump that kinda money and pay ALL the upkeep for decades?! You write the interest off your taxes, have something to show for 30 years of payments when you retire.
Also, nothing wrong with a landlord owning a few homes. He likely ain’t making shit and is taking huge risks. Yes, it’ll pay out someday, hopefully.
The issue is corporate home ownership and, to a lesser extent, B&Bs. Yes, a bank can easily “own” hundreds or thousands of homes. After all, they provide loans and sometimes have to foreclose. But banks renting homes?! Fuck no.
This is easily solvable with legislation, not even “devil is in the details” complexity. We drop the hammer on these corporate landlords, tax the fucking snot out them and run them out of the game. Same goes for entities sitting on real estate, waiting on prices to go up. Tax the hell out of empty homes that have been on the market X days.
The issue is corporate landlords. Rent didn’t used to be like this, it was competitive. My first place was a shithole in college, $250/mo. (I’d happily live there again were I a bachelor.) Same place should be $630. Anyone seen rent that low for anything outside renting a single room in a house?
hark@lemmy.world 4 weeks ago
Speaking of which, zillow’s stupid “zestimate” is worthless. Any assclown can put their house up for way too high a price and the zestimate will automatically jump up to match.
Apparently the value is whatever the seller says it is, even if the home has been on the market for over a year (either continuously or repeatedly taken off and put on, I guess to reset the time on market).
Linktank@lemmy.today 4 weeks ago
Guess it’s a nonstarter.
TheTechnician27@lemmy.world 4 weeks ago
A starter home?! This home is a finisher home! A shelterer of GODS! The GOLDEN GOD!
I am untethered, and my rage knows no bounds!
TheGoldenGod@lemmy.world 4 weeks ago
You rang?
sp3ctr4l@lemmy.dbzer0.com 4 weeks ago
* curb your ethusiasm theme plays*
UltraGiGaGigantic@lemmy.ml 4 weeks ago
Living in a VAN down by the river!
nomy@lemmy.zip 4 weeks ago
I’ll be able to afford a van and have a river view?
SVanlife here I come!
Rooskie91@discuss.online 4 weeks ago
This…is hard to believe. I’ve been looking around non-major US cities, and even some major series, and the starter homes are around 200-500k.
That’s still fucked for a starter home but a million??? That’s the average home price in Honolulu and NYC lol.
pixxelkick@lemmy.world 4 weeks ago
It literally sounds super fake.
I can’t find a single major city without 200k to 350k homes lol
It takes like 30 seconds to check what starter homes cost in any city, yet people will believe this shit instead of just go look.
SpaceNoodle@lemmy.world 4 weeks ago
As someone who has lived in and priced out homes in major US cities, I find this article to be accurate.
Aphelion@lemm.ee 4 weeks ago
Try looking in San Francisco, or any city in the entire Bay Area. You won’t find a 500sq ft shack for less than $800k.
chilicheeselies@lemmy.world 4 weeks ago
I quite kiterally cant find anything in my city for less than 900k, and they are rare
Imgonnatrythis@sh.itjust.works 4 weeks ago
Doesn’t sound super fake if you are looking for a place with what I think are pretty reasonable basic characteristics of comfort and security.
House that can accommodate a small family not in a higher than average crime area, does not require fix up maintenance that those of us working long hours will never have time to do or can’t afford to have done, has been well cared for and doesn’t feel gross. I’m not talking luxury homes here, I’m just talking about something that you would at least look forward to coming home to.
When I see all these people buying these homes, I’m just shocked at how they have either accrued so much wealth or are so comfortable with so much debt.
It’s pretty tough out there right now.
AA5B@lemmy.world 4 weeks ago
Zillow wrote a garbage article without the data they claim to have used, which was then copied without any added value, to be linked here. I want to know, starting with their definition of a city and their definition of a starter home
Ledericas@lemm.ee 4 weeks ago
i was going to say its avg in the west coast blue area. 200-500k is “cheap”
thatradomguy@lemmy.world 4 weeks ago
conicalscientist@lemmy.world 4 weeks ago
This is the inevitable result of infinite growth. You aren’t getting a home in world class locations without being at the very top yourself. Sure other people lucked into the right place and the right time. Go buy lottery tickets. Or set down in location that is more affordable. With any luck you’ll be a multimillionaire when you’re elderly too. And the kids will hate you for the dastardly plot you schemed up with your friends to ruin everything.
We’re all part of the rat race that is fucking us over. Nobody wants to flinch. So we continue to eat each other alive.
UltraGiGaGigantic@lemmy.ml 4 weeks ago
This recommends 2 to 3 years of annual income to be the price of your house
So… how many of yall are making $300k a year?
RedditIsDeddit@lemmy.world 4 weeks ago
“Why do we have so many homeless?”
Semi_Hemi_Demigod@lemmy.world 4 weeks ago
Just don’t live in a city geez
circuitfarmer@lemmy.sdf.org 4 weeks ago
A couple years ago this was the “just don’t live in California” argument.
Croquette@sh.itjust.works 4 weeks ago
People take this advice, move to a lower COL area and rise the COL.
People that handed the advice now complains that they can’t afford to live in their not-so-low-COL-anymore area
Photuris@lemmy.ml 4 weeks ago
That’s where the jobs are.
Not much for good paying work in podunk towns.
Catoblepas@lemmy.blahaj.zone 4 weeks ago
Just commute for an hour to work every day. Ew, no, we don’t want to fund buses, that’s for poors. Pay for it yourself.
CarbonIceDragon@pawb.social 4 weeks ago
At which point, Id have to spend the money saved on housing on buying, fueling, maintaining and insuring a car, if I was even able to drive one in the first place.
taiyang@lemmy.world 4 weeks ago
Well… define starter home. I got a starter for about half that in LA but I have a shared wall townhome. Not great, but if we’re talking no shared walls and a yard, ya I can see that costing more… Except I also saw those for about this price, only with like… 600sq ft? Pick you battles, but those aren’t a million even in the city.
Now, maybe the 200 cities are specific neighborhoods, like how Santa Monica isn’t technically Los Angeles since it’s got it’s own city government. Same with Beverly Hills, Bel Air, etc. You sure as hell ain’t getting a place for 1 mil there, even if it’s a small “starter home.”
TheLowestStone@lemmy.world 4 weeks ago
All of your question are answered right at the beginning of the article:
“Zillow defines “cities” as distinct housing markets, which can include large suburbs, towns or boroughs within major metro areas. “Starter homes” are defined as properties in the bottom third of home values within a given market. That means these aren’t luxury listings — they’re the least expensive homes available in each city.”
taiyang@lemmy.world 4 weeks ago
Gotcha. So yes, it’s misleading headline, mostly for the first part since you can probably pull up 200 “cities” where you’d be nuts to find your first home. You aren’t getting your first home in Malibu, that’s just silly.
Wazowski@lemmy.world 4 weeks ago
Updated 1400 sf 3 bed 1 bath $1M where I live.
AntelopeRoom@lemm.ee 3 weeks ago
It’s $1.5M near me
BedSharkPal@lemmy.ca 4 weeks ago
And you wonder why the young folk vote for conservatives…
fluffykittycat@slrpnk.net 4 weeks ago
1 they don’t 2 why would thismake them?
jasonwnclife@lemm.ee 4 weeks ago
Get off your ass and get 50+ full time jobs you lazy fucks!
Mvlad88@lemmy.world 4 weeks ago
And stop earning avocados.
Thedogdrinkscoffee@lemmy.ca 4 weeks ago
Stop eating avocados. Start eating landlords.
Tough to stomach at first, but very good for you and the community.
NecroParagon@lemm.ee 4 weeks ago
If I keep paying the current $1200 a month to my landlord, it’ll eventually trickle down to me. No doubt!
empireOfLove2@lemmy.dbzer0.com 4 weeks ago
Only 1200 a month?
God I wish.
NikkiDimes@lemmy.world 4 weeks ago
My only hope of home ownership around here is waiting for my parents to die and inheriting one. That said, I keep telling them to sell all their shit, move somewhere cheaper, and retire for fuck’s sake, so we’ll see how that pans out.