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This is INSANE!!

post #1 of 15
Thread Starter 
My cousin is looking for a new house and the prices here are ridiculously high. A little tiny house a couple blocks away from where I live is less than 900 square feet and it sold for $290000!!! I don't know how I'm gonna ever afford one a house. Right now I'm living in the basement of my buddy's house. We each pay about half the mortgage.
post #2 of 15
Uh, try living in Perth at the moment. Your average house not too close to the city is going for $640,000. Property in Perth is currently the most expensive in the world - that includes New York. It is more expensive to by a house here than it is in New York!!

The mortgage for your average house purchase in Perth is $1400 per week.

We'll be renting for a while.
post #3 of 15
Thread Starter 
Wow thats crazy. Why are prices everywhere exploding all of a sudden?
post #4 of 15
Two years ago or so I saw a house for sale in Assiniboia and it was only $3000. Most of the houses for sale here are kind of expensive.... there's one a few blocks away and it's 20 grand though.
post #5 of 15
Thats not that bad fof a house. We have a friend who just bought a 500 square foot condo(studio) not stand alone, in a building with 4 other units for about 400,000. The new condos up the street from me range from 300,000 to 500,000 depending if you want a bed room or not.
post #6 of 15
We bought ours last year for $255000($212402us), sold the other one for $265000($220732us) (the extra $10000 came in handy for stamp duty )

It's a 3bdr 2.5bthr brick house. But for what we got in the house, we lack of backyard, it's half the size and not much grass.
post #7 of 15
You can find in Hillside 3 rooms for $0.2M, PM me if you need more details
post #8 of 15
That is crazy! If I were to buy the house I am currently renting, which I would really love to do, it would be around $65,000. It is 3 br 1.5 bath brick house on a little over an acre, right in the middle of town. I guess we are really lucky here.
post #9 of 15
Housing prices aren't too bad here-way back in 1987 we bought ours on 3 acres for $85K.. But we now have additional 2 acres (we will sell separate once the time comes) but have done lots of exterior/interior remodeling-my potting shed and Nei's fancy garage -I wouldn't sell for less than say $275K.
You can buy smaller homes in some communities for under 100K still.
Glad our prices aren't as bad as on the coasts.
However if one wants to buy in the vacation areas of Northern WI or Door County be prepared to spend much more than you think due to allthe 2nd/vacation homes owned by people for other states!!
post #10 of 15
try to find something like a power of sale or estate sale - they are generally cheaper.
post #11 of 15
I am so glad I live in the Midwest!!! you can buy a good sized house in Akron (a small to mid-sized city) for anywhere from 50,000 to 150,000, depending on the area some of the houses in the Cleveland suburbs are a bit more ridiculous
post #12 of 15
Prices are pretty high here too. 3 bedroom townhouses in my neighborhood (built in 1950s-60s) are around $250,000, and that is cheaper than anywhere near here (unless you want to live in a bad area of the city).
post #13 of 15
We've put our house-buying plans on hold for a few months. Victoria is the second most expensive city to live in Canada (Vancouver is first).

A regular, 1500 sq/ft house (one or two bedrooms and one bath) in an O.K. neighborhood is $568,000 CDN ($513,500 USD)! That's the MEDIAN price! The median income is $38,000... insanity is a good word for it.

The market is finally leveling off now... and we hope it drops. Investing in real estate does not give you the return that other investments can, so we are renting and saving right now!
post #14 of 15
Originally Posted by krazy kat2 View Post
...If I were to buy the house I am currently renting, which I would really love to do....
The house we are renting is small and was built in 1930, and needs tons of repairs including a new roof. It's been valued at $1,000,000! The yard is nice but it's not THAT great, not worth a million dollars.
post #15 of 15
The house we currently live in (aka RENT) is probably about 150,000. It's a 1000 sq ft, 1 1/2 bedrooms, 1 bath and garage. The further west you go in metro Detroit, the more expensive it is.

However if you live on a lake the price just about doubles...so if our house were on a lake, the people would be asking $300 +
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