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Posted (edited)

https://www.redfin.com/news/million-dollar-homes-february-2022/

 

This is by percentage btw:

 
 
 
 
San Francisco, CA 88.7% 82.2% 6.4 ppts
San Jose, CA 85.9% 68.0% 18.0 ppts
Anaheim, CA 55.3% 27.2% 28.0 ppts
Oakland, CA 55.1% 34.4% 20.7 ppts
San Diego, CA 40.4% 17.6% 22.8 ppts
Los Angeles, CA 38.5% 23.8% 14.7 ppts
Honolulu, HI 37.1% 19.2% 17.9 ppts
Seattle, WA 36.5% 15.5% 21.0 ppts
New York, NY 32.1% 30.1% 2.0 ppts
Oxnard, CA 31.2% 15.1% 16.1 ppts
Albuquerque, NM 25.0% 25.0% 0.0 ppts
Boston, MA 18.1% 12.0% 6.1 ppts
Frederick, MD 13.3% 8.1% 5.2 ppts
Nassau County, NY 13.2% 8.9% 4.4 ppts
Austin, TX 12.3% 3.9% 8.4 ppts
Bridgeport, CT 12.2% 6.6% 5.5 ppts
Miami, FL 11.2% 6.6% 4.6 ppts
Washington, D.C. 10.9% 6.5% 4.5 ppts
West Palm Beach, FL 10.0% 5.2% 4.8 ppts
Denver, CO 9.7% 3.9% 5.8 ppts
North Port, FL 9.6% 4.5% 5.1 ppts
Sacramento, CA 9.2% 3.2% 6.0 ppts
Phoenix, AZ 7.8% 2.8% 5.0 ppts
Cape Coral, FL 7.8% 3.5% 4.2 ppts
Charleston, SC 7.7% 3.8% 3.8 ppts
New Brunswick, NJ 7.4% 3.3% 4.1 ppts
Salt Lake City, UT 7.3% 1.7% 5.6 ppts
Nashville, TN 7.1% 2.9% 4.2 ppts
Newark, NJ 7.1% 3.8% 3.3 ppts
Riverside, CA 7.0% 2.2% 4.8 ppts
Tacoma, WA 6.2% 2.0% 4.2 ppts
Portland, OR 6.0% 2.2% 3.8 ppts
Boise, ID 5.7% 1.1% 4.6 ppts
Fort Lauderdale, FL 5.4% 2.6% 2.8 ppts
Stockton, CA 4.9% 0.6% 4.3 ppts
Dallas, TX 4.4% 2.3% 2.1 ppts
Colorado Springs, CO 4.1% 1.1% 3.0 ppts
Tampa, FL 3.9% 1.5% 2.4 ppts
Providence, RI 3.6% 1.8% 1.8 ppts
Las Vegas, NV 3.5% 1.5% 2.1 ppts
Raleigh, NC 3.5% 0.9% 2.5 ppts
Jacksonville, FL 3.4% 1.5% 1.9 ppts
Montgomery County, PA 3.4% 1.6% 1.8 ppts
Lake County, IL 3.3% 1.6% 1.7 ppts
Charlotte, NC 3.1% 1.3% 1.8 ppts
Chicago, IL 3.0% 2.1% 0.9 ppts
Houston, TX 2.7% 1.5% 1.3 ppts
Atlanta, GA 2.7% 1.3% 1.5 ppts
Baltimore, MD 2.6% 1.3% 1.3 ppts
Orlando, FL 2.5% 1.1% 1.4 ppts
Tucson, AZ 2.4% 0.9% 1.6 ppts
Fort Worth, TX 2.4% 1.1% 1.4 ppts
Philadelphia, PA 2.2% 1.4% 0.8 ppts
Minneapolis, MN 1.8% 1.0% 0.8 ppts
New Orleans, LA 1.8% 1.1% 0.7 ppts
Knoxville, TN 1.8% 0.6% 1.2 ppts
Greenville, SC 1.7% 0.8% 0.9 ppts
Virginia Beach, VA 1.7% 0.9% 0.8 ppts
San Antonio, TX 1.5% 0.6% 0.9 ppts
Fresno, CA 1.5% 0.5% 1.0 ppts
New Haven, CT 1.4% 0.6% 0.8 ppts
Milwaukee, WI 1.4% 0.9% 0.5 ppts
Richmond, VA 1.3% 0.7% 0.7 ppts
Poughkeepsie, NY 1.3% 0.7% 0.6 ppts
Warren, MI 1.1% 0.7% 0.5 ppts
Kansas City, MO 1.1% 0.5% 0.6 ppts
Grand Rapids, MI 1.1% 0.4% 0.7 ppts
Worcester, MA 0.9% 0.2% 0.7 ppts
Cincinnati, OH 0.9% 0.5% 0.4 ppts
Columbus, OH 0.9% 0.4% 0.5 ppts
Indianapolis, IN 0.9% 0.3% 0.5 ppts
Memphis, TN 0.8% 0.3% 0.4 ppts
Camden, NJ 0.8% 0.3% 0.5 ppts
Tulsa, OK 0.7% 0.4% 0.3 ppts
Pittsburgh, PA 0.7% 0.4% 0.3 ppts
Bakersfield, CA 0.7% 0.2% 0.5 ppts
Oklahoma City, OK 0.6% 0.3% 0.4 ppts
Little Rock, AR 0.6% 0.3% 0.3 ppts
Greensboro, NC 0.6% 0.3% 0.3 ppts
Baton Rouge, LA 0.6% 0.4% 0.2 ppts
Louisville, KY 0.6% 0.3% 0.3 ppts
Albany, NY 0.6% 0.4% 0.2 ppts
Omaha, NE 0.5% 0.2% 0.3 ppts
Hartford, CT 0.5% 0.3% 0.3 ppts
Cleveland, OH 0.5% 0.2% 0.3 ppts
St. Louis, MO 0.5% 0.4% 0.1 ppts
Birmingham, AL 0.5% 0.2% 0.2 ppts
Allentown, PA 0.4% 0.2% 0.3 ppts
Detroit, MI 0.4% 0.2% 0.2 ppts
Wilmington, DE 0.4% 0.2% 0.2 ppts
Rochester, NY 0.3% 0.3% 0.1 ppts
Springfield, MA 0.3% 0.1% 0.2 ppts
Gary, IN 0.3% 0.1% 0.1 ppts
Akron, OH 0.3% 0.1% 0.1 ppts
Buffalo, NY 0.2% 0.1% 0.1 ppts
Dayton, OH 0.2% 0.1% 0.1 ppts
McAllen, TX 0.2% 0.1% 0.1 ppts
Columbia, SC 0.2% 0.1% 0.1 ppts
El Paso, TX 0.2% 0.0% 0.1 ppts
Elgin, IL 0.1% 0.1% 0.1 ppts
National 8.2% 4.8% 3.3 ppts

 

Edited by closetohumping
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Posted (edited)

ABQ going hard into the paint.

 

Edit: Which I don't believe that 25% number for them at all. Looking at Zillow, I don't see many over $600K at all.

Edited by SimonBolivar
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Posted
10 minutes ago, SimonBolivar said:

ABQ going hard into the paint.

 

Edit: Which I don't believe that 25% number for them at all. Looking at Zillow, I don't see many over $600K at all.

That has to be some sort of data error?  Maybe more like 2.5%?

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Posted
shit is not sustainable or good for the long term health of a nation. 
as a homeowner, i like this since i am considering downsizing and moving to a more remote area where housing won't be so expensive. i'll pocket a massive gain.
as a parent, i worry for my kids when it's time for them to buy homes. 

Absolutely this
Posted

I have a Paradisa home. They are pretty big spec builders in Austin. They buy older homes, tear down the old home, and build newer homes. 

Last October, they bought a teardown across the street for $700k (a 2/1 needing a ton of work). They sat on the property for until Feb when they started the tear down and building of a new house. They had enough capital to sit on the property for about 4 months doing nothing. I'm sure they are going to ask $1.5M+ for the new house. There will be multiple offers. 

I realize I am part of the problem but no way did I pay $1.5M for my house, not even close. Shit's fucking crazy. 

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Posted (edited)

I've been in my houston house for 15+ years. No way has my income kept up with the rise in home costs in my immediate area. I couldn't easily buy back into my neighborhood if I sold. I guess I'm the poor guy in my hood now. I can live with that.

Edited by Nice Guy Eddie
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Posted
36 minutes ago, closetohumping said:

Other than Albuequerque, which I'm convinced is a mistake, pretty much aligns with me. 

I would have expected NYC and Boston to be closer to SF and SJ.

Posted
1 hour ago, Helobious said:

Today I learned that million dollar homes exist in Gary, IN. 

Yeah a few headscratchers for sure. I can get Fresno since it's a college town, but Stockton, CA with 5% of homes over $1M? Seems a little odd to me.

Posted
1 hour ago, crash_davis said:

shit is not sustainable or good for the long term health of a nation. 

as a homeowner, i like this since i am considering downsizing and moving to a more remote area where housing won't be so expensive. i'll pocket a massive gain.

as a parent, i worry for my kids when it's time for them to buy homes. 

It is in the similar vein of admission standards to universities. How many of us would not stand a chance of getting into UT today? How many of us couldn't buy our current house today?

It's bullshit that because I was born five years before someone else I reached my homebuying years before them and was able to buy in a modest neighborhood. For someone born five years later? Out of luck. Try Elgin.

Posted
20 minutes ago, Serak The Preparer said:

Yeah a few headscratchers for sure. I can get Fresno since it's a college town, but Stockton, CA with 5% of homes over $1M? Seems a little odd to me.

The state’s median home price is like $800k, so not that surprising. Prop 13-loving boomer NIMBYs screwing up CA everywhere. 

Posted
3 hours ago, Nice Guy Eddie said:

I've been in my houston house for 15+ years. No way has my income kept up with the rise in home costs in my immediate area. I couldn't easily buy back into my neighborhood if I sold. I guess I'm the poor guy in my hood now. I can live with that.

Same with my house in Georgetown. I'm actually going through this right now. Mrs Rojo and I are divorcing, and she's keeping the house. We have been in the house 9+ years. Built it for just under $300K, and had it appraised for the mediation at a hair under $800K. For now I'm renting a place nearby, but no way would I re-buy in this neighborhood at $250/sq ft. This is a production builder suburb too, and we've had a few larger homes sell over $1M. 

It would be interesting to see what $1M gets you in each of those markets. 

Posted
3 hours ago, FirstTimeCaller said:

It is in the similar vein of admission standards to universities. How many of us would not stand a chance of getting into UT today? How many of us couldn't buy our current house today?

It's bullshit that because I was born five years before someone else I reached my homebuying years before them and was able to buy in a modest neighborhood. For someone born five years later? Out of luck. Try Elgin.

It's kind of always been like this. My dad graduated UT in 1965 when you pretty much flashed your high school diploma and wrote a check for something like $3 per credit hour (I'm exaggerating but not by much). Right out of college he bought a house in Hyde Park near 45th and Avenue D for what was the equivalent of around 1.5x his salary right out of school.

A new grad would need to make 500k or so to do the same now.

 

 

 

 

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Posted
2 hours ago, Pescado_Rojo said:

Same with my house in Georgetown. I'm actually going through this right now. Mrs Rojo and I are divorcing, and she's keeping the house. We have been in the house 9+ years. Built it for just under $300K, and had it appraised for the mediation at a hair under $800K. For now I'm renting a place nearby, but no way would I re-buy in this neighborhood at $250/sq ft. This is a production builder suburb too, and we've had a few larger homes sell over $1M. 

It would be interesting to see what $1M gets you in each of those markets. 

Can you PM your ex's number?  I wouldn't mind being a kept man in your old house.

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Posted

What the fuck are you carrying a gun for? What, in case somebody steps to you, Snoop Dogg?

Hey man, you're not from here, alright. You don't know how it is. I grew up in L.A.

Anaheim.

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Posted

Were looking to downsize to reduce our tax burden heading into retirement.  I can't see paying what I pay now, even frozen at 65, in retirement.

And that means finding a house, in the City of Dallas, preferably inside 635 or just outside, no fucking outer burbs, for $1M or less, lesser the better.

Pickins are slim, unless you want something under 2000 sq ft.

Posted
5 hours ago, FirstTimeCaller said:

How many of us couldn't buy our current house today?

When I bought my first house the interest rate was 7.25%. I could buy a house now for ~3x what we paid for that 3/2. Looking at zillow's listed prices for that neighborhood, I'd need to up that monthly payment by 20 to 25 percent. FWIW.

When I lived in Santa Fe I checked abq's housing inventory pretty often. You can still buy a very nice house there for less than a mil. Depending on the location you may have to listen to gun shots while you're enjoying the evening on your back patio.

Posted
2 hours ago, Not a cat said:

It's kind of always been like this. My dad graduated UT in 1965 when you pretty much flashed your high school diploma and wrote a check for something like $3 per credit hour (I'm exaggerating but not by much). Right out of college he bought a house in Hyde Park near 45th and Avenue D for what was the equivalent of around 1.5x his salary right out of school.

A new grad would need to make 500k or so to do the same now.

 

 

 

 

UT was $4/hour well into the 80s.  Ann Richards doubled it to 8 and then to 12 and people completely shit themselves.

Posted

I just took the dog out and on the way back picked up today's mail. Among the promotional mail was one from a realtor trolling specifically for people who own million dollar plus houses and who may be interested in selling. The headline was, "There has never been a better time to sell a luxury home over $1,000,000!"

Due to building requirements (code, water rights, raw land availability), they're barely building any new home inventory in Fort Collins let alone in the million dollar plus market. Btw, in Fort Collins zillow shows only 51 Single Family Homes currently for sale anywhere within the city boundaries. 9 are listed at a mil or more.

Posted
32 minutes ago, TwiceHorn said:

Were looking to downsize to reduce our tax burden heading into retirement.  I can't see paying what I pay now, even frozen at 65, in retirement.

And that means finding a house, in the City of Dallas, preferably inside 635 or just outside, no fucking outer burbs, for $1M or less, lesser the better.

Pickins are slim, unless you want something under 2000 sq ft.

Shit man everything out here feels like it’s u see 2k sq foot

Posted
8 hours ago, SimonBolivar said:

ABQ going hard into the paint.

 

Edit: Which I don't believe that 25% number for them at all. Looking at Zillow, I don't see many over $600K at all.

Pool in back, pizza on the roof- that'll get you to 7 figures pretty quickly.

Breaking Bad Pizza GIF

Posted (edited)

By just glancing, there’s some data points that don’t pass the smell test and defy plain common sense.

ABQ. As folk have already said. I bet a 5 lb bag of green Hatch chile and a meal of chicharrones at Barela’s coffeehouse … that has 0% chance of being accurate.

Frederick MD? … but not Alexandria, VA, which I believe is at least twice the size and twice as nice. Does the list even Bethesda bro?

I could go on, but that obviously has to be clickbait or really shitty journalism/research. 

Edited by JerrysJheriCurl
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Posted
1 hour ago, MaybeACoordinator said:

For a retired couple that is not small under any circumstances except the minds of the owners. I bet the people who think that would want 3.5 bathrooms to go with their 2000 sq.-ft. 

Well, it is highly likely that MIL will be living with us in the not-too-distant future, so having a bit of space is important.

And yeah, under 2000 sq feet is pretty small for anything not two bedroom.

Downsizing sucks dicks.

Posted
25 minutes ago, Fudge Nuggets said:

I’m looking forward to downsizing my single ass to a 2br condo somewhere in the Caribbean. 

We’re in the process now.  Selling a 3300 sq foot, moving into a 1300 sf rental, then buying when the time is right.  But I think max is 1500 for us.  It was painful at the start, but it’s liberating getting rid of all that excess shit.

 

And yes I’m in Austin and about to try and cash out.

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Posted
3 minutes ago, Hefeweizen said:

We’re in the process now.  Selling a 3300 sq foot, moving into a 1300 sf rental, then buying when the time is right.  But I think max is 1500 for us.  It was painful at the start, but it’s liberating getting rid of all that excess shit.

 

And yes I’m in Austin and about to try and cash out.

Liberating but also depressing. We moved and the wife purged maybe $20k worth of shit without blinking an eye. End of each day she was just giddy talking about how good it felt. Bitch you spent $20k on shit that was completely worthless to you.

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Posted
Just now, DefinitelyNotHollywoodColt said:

Liberating but also depressing. We moved and the wife purged maybe $20k worth of shit without blinking an eye. End of each day she was just giddy talking about how good it felt. Bitch you spent $20k on shit that was completely worthless to you.

Oh trust me, the furniture being sold on next door by my wife for 20 bucks a pop feels the pain.  I’m not arguing because I don’t have time for that.

Posted
11 hours ago, TwiceHorn said:

 

And yeah, under 2000 sq feet is pretty small for anything not two bedroom.

 

Is it really though?  I grew up in a middle class family of 4 in a 2000 sq foot 2 story and it felt plenty big.  

I currently live in a 4100 sq foot house for me full time and my son half time and I cannot wait to get rid of that albatross (the house, not the kid)

Posted
On 3/12/2022 at 8:02 AM, Not a cat said:

Is it really though?  I grew up in a middle class family of 4 in a 2000 sq foot 2 story and it felt plenty big.  

I currently live in a 4100 sq foot house for me full time and my son half time and I cannot wait to get rid of that albatross (the house, not the kid)

2000 should be plenty for four, imo. Especially if you have good outdoor living space. If you add another to the family it might be a bit small, but I've seen four bedroom plans that fit into 2000 square feet well.

Posted
On 3/11/2022 at 6:20 PM, TwiceHorn said:

UT was $4/hour well into the 80s.  Ann Richards doubled it to 8 and then to 12 and people completely shit themselves.

I think it was Mark White that it happened under...I'm pretty sure the jump was in 1986 - my freshman year.
 

Still...I look back and think about how fucking cheap tuition was and shake my head.

Posted

Same time period for me- I recall after all the season ticket packages, rec center fees and student insurance fees, we were looking at 450 or 500 per semester.  That's like 1250 in today's dollars.  So basically 10k for 4 years of tuition- yeah I guess we had it pretty damn good. 

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