So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
$2 million in Acokeek IMO yes. Southern PG County which is about 30 minutes from DC. PG county schools are terrible which to your point about location, having a good school system helps with value too. I would rather buy in Northern VA or Montgomery Co.
Now Chef made a mistake and the house is actually $1.2 million on 2 acres so from that standpoint it’s not a bad buy. Growing area adjacent to Charles County which took the #1 spot from PG with the number of blacks with money.
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And this is what about 2 million will get you in a nice area of DC ProperThis is what 1.5 gets you in my neighborhood
1.5 million Condo but it’s near Georgetown. 1,000 square foot, but it’s in a dope ass location
Millionaire is the new middle class
It really is or atleast it feels that way.
These properties actually seem fairly valued
Based on location and the area yes.
What’s your thoughts? Good, bad, or indifferent
This can’t be right . Where San Francisco?
In the video he said the 2 CA counties in the top 5 are close to San Fran.
Can't speak on CA, but regarding the DMV, this is 100% accurate....
San Francisco is a county also. Marin county is also mad expensive. I think they mentioned other areas so the Bay Area doesn’t dominate 1-5 .
I am assuming he probably got his data from here
The 15 Richest Counties in the U.S.
The East Coast and Northern California dominate this list of counties where residents have the highest median household incomes.By Steven Ross Johnson
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Dec. 20, 2023, at 1:40 p.m.
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[IMG alt="A man walks dogs in a park in San Mateo, California, the United States, June 14, 2021. California Governor Gavin Newsom and government health officials announced the official reopening of the state from Tuesday following months of anticipation.The reopening means that vaccinated people in California can go maskless in public, there will be no more limitations on out-of-state travelers, and California retail businesses can go back to full capacity. (Photo by Wu Xiaoling/Xinhua via Getty Images)
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Upscale Enclaves
American incomes continue to trend upward, though disparities by race and ethnicity remain, according to the latest five-year estimates from the U.S. Census Bureau’s American Community Survey.Adjusted for inflation, the nation’s median household income rose 10.5% to $75,149 when comparing estimates covering 2013-2017 and 2018-2022. Median incomes in the past 12 months for the 2018-2022 period ranged from a high of $107,637 among Asian “householders” – which the Census Bureau defines in part as a person in whose name a home is owned, being bought or being rented – to a low of $50,901 among Black householders.
By specific race or ethnicity, Hispanic or Latino householders experienced the largest percentage increase in median household income between the periods of 2013-2017 and 2018-2022 at 18.1%, landing at a median income of $64,936. They were followed by American Indians and Alaska Natives, who experienced a 17.6% rise in median household income to $55,925.
[ READ: The 10 Richest States in America ]
Asian householders saw a 13.5% increase in median household income between five-year periods, while Black householders saw a 13.1% increase. Native Hawaiian and other Pacific Islander householders saw a 13.2% increase to $76,568, while median household income among non-Hispanic whites rose by 9.2% to $81,423.
The latest five-year estimates – which are "period" estimates reflecting data collected over time, the Census Bureau says – show a total of 116 counties or county equivalents in the U.S. had median household incomes that were above $100,000. Of the 15 counties with the highest incomes, five are located near the nation’s capital in Virginia or Maryland. Four of the richest counties are in California – all in the San Francisco Bay Area – while New Jersey is the only other state home to more than one county on the list, at two.
These are the 15 richest counties or county equivalents in the U.S. by median household income, according to American Community Survey estimates for 2018-2022.
NEXT:15. Somerset County, New Jersey
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15. Somerset County, New Jersey
Median Household Income: $131,948State Median Household Income: $97,126
Median household income in Somerset County was the second-highest within New Jersey, which had the second-highest median household income among U.S. states, according to the 2018-2022 ACS estimates.
NEXT:14. Hunterdon County, New Jersey
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14. Hunterdon County, New Jersey
Median Household Income: $133,534State Median Household Income: $97,126
Hunterdon County had the highest median household income of any county in New Jersey, where the state’s median household income ranked second-highest among U.S. states.
NEXT:13. Nantucket County, Massachusetts
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13. Nantucket County, Massachusetts
Median Household Income: $135,590State Median Household Income: $96,505
Nantucket County had the highest median household income among counties in Massachusetts, which had the third-highest median household income among U.S. states.
NEXT:12. Los Alamos County, New Mexico
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12. Los Alamos County, New Mexico
Median Household Income: $135,801State Median Household Income: $58,722
Los Alamos County had the highest median household income within the state of New Mexico, where state median household income ranked 46th in the U.S.
NEXT: 11. San Francisco County, California
[IMG alt="SAN FRANCISCO, CA, USA - SEPTEMBER 21: San Francisco's cable cars return to service after COVID-19 shutdown in San Francisco, California, United States on September 21, 2021. California has initiated a reopening, lifting virtually all coronavirus restrictions on businesses and social gatherings. (Photo by Anibal Martel/Anadolu Agency via Getty Images)
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11. San Francisco County, California
Median Household Income: $136,689State Median Household Income: $91,905
San Francisco County is one of four counties in California to be among the 15 richest by median household income. As a whole, California median household income ranked fifth-highest among U.S. states.
NEXT:10. Arlington County, Virginia
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10. Arlington County, Virginia
Median Household Income: $137,387State Median Household Income: $87,249
Arlington County is one of four counties within the state of Virginia to be among the country’s richest counties. Virginia’s median household income ranked 10th-highest among states.
NEXT:9. Nassau County, New York
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9. Nassau County, New York
Median Household Income: $137,709State Median Household Income: $81,386
Median household income in Nassau County was the highest within New York, which among states, ranked 14th in the U.S. for median household income.
NEXT:8. Douglas County, Colorado
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8. Douglas County, Colorado
Median Household Income: $139,010State Median Household Income: $87,598
Douglas County had the highest median household income in Colorado, where total median household income ranked ninth-highest among U.S. states.
NEXT:7. Howard County, Maryland
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7. Howard County, Maryland
Median Household Income: $140,971State Median Household Income: $98,461
Howard County had the highest median household income in Maryland, which had the highest median household income in the U.S. among states.
NEXT:6. Marin County, California
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6. Marin County, California
Median Household Income: $142,019State Median Household Income: $91,905
Marin County, just north of San Francisco, had the third-highest median household income among counties in California. The state’s median household income ranked fifth-highest in the U.S.
NEXT:5. Fairfax County, Virginia
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5. Fairfax County, Virginia
Median Household Income: $145,165State Median Household Income: $87,249
Fairfax County was the third-richest county by median household income in Virginia, where median household income ranked 10th-highest in the U.S. among states.
NEXT:4. San Mateo County, California
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4. San Mateo County, California
Median Household Income: $149,907State Median Household Income: $91,905
San Mateo County was the second-richest county in California, with the state’s median household income ranking fifth-highest in the U.S.
NEXT:3. Santa Clara County, California
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3. Santa Clara County, California
Median Household Income: $153,792State Median Household Income: $91,905
Santa Clara County ranked first among counties in California for median household income, with the state ranking as the fifth- richest in the U.S.
NEXT:2. Falls Church, Virginia
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2. Falls Church, Virginia
Median Household Income: $164,536State Median Household Income: $87,249
The city of Falls Church had the second-highest median household income in Virginia among counties or county equivalents, and is one four such communities in the state to be among the richest in the U.S. The state’s median household income was 10th-highest in the U.S.
NEXT:1. Loudoun County, Virginia
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1. Loudoun County, Virginia
Median Household Income: $170,463State Median Household Income: $87,249
Loudoun County, located near Washington, D.C., had the highest median household income in the U.S. As a state, Virginia ranked as the 10th-richest in the U.S.
NEXT:The Richest Counties in America by Median Household Income
The Richest Counties in America by Median Household Income
1. Loudoun County, Virginia - $170,4632. Falls Church, Virginia - $164,536
3. Santa Clara County, California - $153,792
4. San Mateo County, California - $149,907
5. Fairfax County, Virginia - $145,165
6. Marin County, California - $142,019
7. Howard County, Maryland - $140,971
8. Douglas County, Colorado - $139,010
9. Nassau County, New York - $137,709
10. Arlington County, Virginia - $137,387
11. San Francisco County, California - $136,689
12. Los Alamos County, New Mexico - $135,801
13. Nantucket County, Massachusetts - $135,590
14. Hunterdon County, New Jersey - $133,534
15. Somerset County, New Jersey - $131,948
According to what Powell has said today, we're still not where they want us to be, and they're prepared to keep rates right where they are if necessary, though they are divided on if it'll be necessary.
One huge problem is that it's an election year. Biden has a huge incentive to be aggressive with student loan forgiveness and taking medical debt off of credit reports. That's great for the folks who need the help, but it also means they'll have more money to spend on a house which could keep prices, and inflation higher for longer.
I’m no economist and took economics to get into grad school at a CC and then took health economics, but my view point the data really doesn’t indicate we need to cut rates?
I know housing is high, but it’s still not stopping people from applying for FHA loans which I know has a cap in each state.
Unemployment low and low wage earners I believe saw the biggest increase in income.
Man I’m so damn confused lol
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Do you rent to Section 8? I just listed my house on Zillow for rent. All the applicants are Section 8.
Your house in DC proper? If so, I wouldn’t do it. Yup I did and I regret that shit 1000%.
DC is tenant friendly too
yeah man, Shaw. thank you for that info.
If you do, I would advise you use a property management company. They charge a fee but makes your life easier.
And keep that water bill in your name. If that shit gets to $600 unpaid with DC Water,they will put a tax lien on your crib.
Sellers still occupying home on Vancouver's west side that they sold for $3.9 million a year ago
The former owners of a home on Vancouver's west side have continued living in it despite selling it for nearly $4 million last June. Last week, they won a court case that will prevent the new owners from evicting them for at least a little while longer.
You're right, housing is the thing keeping inflation high, without it, we'd already be at the Fed's 2% target.
The increases in pay may not reflect folks getting their hours cut. There are a lot of people living on credit cards and going delinquent.
Homebuyers can’t avoid title insurance. But there are ways to save
The Biden administration wants to ease the cost of title insurance. How does this insurance work, and how can you save on this?
www.seattletimes.com
What was your experience with Section 8? I am currently considering Section 8 for a rental in California. The rent is substantially higher than the market in my area.
I mean if you do it make sure to look at your state laws and I would recommend a property management company.
DC is very tenant friendly also for me it’s not worth it.
I’ve only done this for 1 year though. I’m not sure what others exp are.
On the other hand, my realtor in NC has a section 8 tenant for like 20 years but NC laws are wayyy different. Just got to do a strong vetting process
This fake news from realtors is hilarious. They are mad desperate right now. House inventory is up? Even if true the price of homes keeps rising. My value keeps going up like 5% one month then drops 2% the next then repeats so that it is slowly rising regardless of the smaller drops. My property taxes just rose also because my houses were reassessed and keep rising in value.
The same shit seems to be happening with the rates. They go up over 7, then drop down like half a percent and headlines are acting like this is great news . Only to have it shoot back up over 7. Oh but wait until after Covid they said rates and prices will be so low!!! If I did that I wouldn’t even have this crib. Fuck these people. We went house shopping during Covid which was mad weird but we got lucky
The same shit seems to be happening with the rates. They go up over 7, then drop down like half a percent and headlines are acting like this is great news . Only to have it shoot back up over 7. Oh but wait until after Covid they said rates and prices will be so low!!! If I did that I wouldn’t even have this crib. Fuck these people. We went house shopping during Covid which was mad weird but we got lucky
Yup my taxes went up too. Had to pay a lil extra in escrow.
My homeboy taxes in Raleigh went up a lot too.
We was just talking about this the other day.