▲ 541 ▼ me_irl (thelemmy.club) submitted 2 months ago by sanitation@lemmy.today to c/me_irl@lemmy.world 67 comments fedilink hide all child comments
[–] Dkiscoo@lemmy.world 22 points 2 months ago (1 child) https://www.cbsnews.com/news/zillow-1-million-dollar-starter-homes-242-us-cities/ permalink fedilink source parent hideshow 2 child comments replies: [–] TrickDacy@lemmy.world 9 points 2 months ago (2 children) Thanks. Yeah I figured this was a weird definition thing.. Zillow defines a starter home as one in the lowest third of home values in a given region. To be sure, the typical starter home still costs far less than $1 million at just under $199,000, Zillow noted. Overall, the median home costs nearly $418,000, according to the National Association of Realtors. Again I am not doubting the point, but my personal definition of starter home would be basically "the cheapest livable home with minimal standards applied". Given that I live in a metro area but have seen homes for $450-500K which are decent, reading $800K was a starter was surprising to me. permalink fedilink source parent hideshow 4 child comments replies: [–] nilloc@discuss.tchncs.de 6 points 2 months ago (1 child) Is it a metro area with significant sprawl? Median list price in Massachusetts is $716,000 and most houses still go from listed to pending in around 8 days. permalink fedilink source parent hideshow 2 child comments replies: [–] TrickDacy@lemmy.world 2 points 2 months ago Yeah there's some sprawl. It seems like it's a competitive market. Haven't been seriously looking and I know most homes go for more than listing price but the listing prices at least are sometimes much less than the cited $800K. permalink fedilink source parent [–] ramble81@lemmy.zip 2 points 2 months ago Yeah starter home should be based on median salary for the area, not the product itself. That just becomes inconvenient because then 95%+ of homes would fall out of that range and fuck the narrative even harder. permalink fedilink source parent
[–] TrickDacy@lemmy.world 9 points 2 months ago (2 children) Thanks. Yeah I figured this was a weird definition thing.. Zillow defines a starter home as one in the lowest third of home values in a given region. To be sure, the typical starter home still costs far less than $1 million at just under $199,000, Zillow noted. Overall, the median home costs nearly $418,000, according to the National Association of Realtors. Again I am not doubting the point, but my personal definition of starter home would be basically "the cheapest livable home with minimal standards applied". Given that I live in a metro area but have seen homes for $450-500K which are decent, reading $800K was a starter was surprising to me. permalink fedilink source parent hideshow 4 child comments replies: [–] nilloc@discuss.tchncs.de 6 points 2 months ago (1 child) Is it a metro area with significant sprawl? Median list price in Massachusetts is $716,000 and most houses still go from listed to pending in around 8 days. permalink fedilink source parent hideshow 2 child comments replies: [–] TrickDacy@lemmy.world 2 points 2 months ago Yeah there's some sprawl. It seems like it's a competitive market. Haven't been seriously looking and I know most homes go for more than listing price but the listing prices at least are sometimes much less than the cited $800K. permalink fedilink source parent [–] ramble81@lemmy.zip 2 points 2 months ago Yeah starter home should be based on median salary for the area, not the product itself. That just becomes inconvenient because then 95%+ of homes would fall out of that range and fuck the narrative even harder. permalink fedilink source parent
[–] nilloc@discuss.tchncs.de 6 points 2 months ago (1 child) Is it a metro area with significant sprawl? Median list price in Massachusetts is $716,000 and most houses still go from listed to pending in around 8 days. permalink fedilink source parent hideshow 2 child comments replies: [–] TrickDacy@lemmy.world 2 points 2 months ago Yeah there's some sprawl. It seems like it's a competitive market. Haven't been seriously looking and I know most homes go for more than listing price but the listing prices at least are sometimes much less than the cited $800K. permalink fedilink source parent
[–] TrickDacy@lemmy.world 2 points 2 months ago Yeah there's some sprawl. It seems like it's a competitive market. Haven't been seriously looking and I know most homes go for more than listing price but the listing prices at least are sometimes much less than the cited $800K. permalink fedilink source parent
[–] ramble81@lemmy.zip 2 points 2 months ago Yeah starter home should be based on median salary for the area, not the product itself. That just becomes inconvenient because then 95%+ of homes would fall out of that range and fuck the narrative even harder. permalink fedilink source parent