The Most Unaffordable Place To Live In America Is…

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The most unaffordable place to live in the U.S. is not San Francisco or Manhattan. It’s Brooklyn.

A person earning the average salary in Brooklyn cannot afford the average home there — even if he or she could spend his entire salary (and then some) on housing, according to a survey released on Thursday by real estate data company ATTOM Data Solutions, which looked at home sales price data in 414 of the most populous counties in the U.S. as well as average wage data from the Bureau of Labor Statistics.

The second and third most unaffordable places in America are Santa Cruz, Calif. and Marin County, Calif. — both of which would also require the average wage earner to spend his or her entire salary and more to buy the median home in the area. Read more at MarketWatch.

{Matzav}

9 COMMENTS

  1. This was all brought on by those evil greedy real-estate agents. It was them who poisoned the minds of the sellers with their arrogance, and with a few stupid gullible “desperate” buyers, changed the face of pricing/evaluation in Brooklyn! This all started back in the early 90’s. It started with those agents first, then it spread to “house flippers” who were in the business of hurting fellow Yidden. All those evil wicked people have a special place in gehenom waiting for them. I truly hope they get their full cheleck.

    • Sorry, I dont agree with you. I am not an estate agent, but trying to buy a house. Its not those selling, its those wanting to buy. Why do they all want to live on the same block / street / neighborhood. Probably convenience to amenities etc. Everyone buying can easily buy a house somewhere else for much cheaper, but the demand for being in THAT SPECIFIC area has driven the price up as people will offer more money to get that house. Its basic supply & demand. Its the same all over in highly desirable neighborhoods, but specifically frum Jewish ones.
      People get greedy & jack up the price and flip houses, but thats not the cause, thats a result.

      The data would also be highly skewed by the fact that there is a lot of income not reported, driving down the “average income” of the wage data.

      • You mean mizimun?
        A regular normal person with a normal parnassa can not afford a home anywhere in Brooklyn at this time, and thats even for a handymans special. Those who are buying, obviously have wealthy parents or in laws paying for it. Or maybe their parents died and inherited a tremendous yerusha.To purchase and maintain a home, with even the greatest of salaries, is not shayich bimetzius. The rent is also totally out of control. It seems that only the other minorities really receive housing help.

    • All those evil wicked people have a special place in gehenom waiting for them. I truly hope they get their full cheleck.
      Ugh. What an awful thing to say. I hate the fact that my kids will probably be unable to buy a house near us in the neighborhood they grew up in, but I agree with “anothermouse” – it’s simply supply and demand.

  2. Perhaps this is Hashem’s way of getting us to move on to greener pastures. Wishing gehennom on your fellow Jew is definitely not appreciated by our Tatte.

  3. I certainly agree with #1. A 2 bedroom apt, actually a small hole is renting for $2700-$3100 a month. Now this us not because of supply on demand. This is because our government opened their generous pockets once and taught us to become takers, in this case section 8. This hiked the price of apts. (Food stamps also brought up the price of food).
    I’m still looking to rent a decent apartment for an affordable price. But the decent apts are section 8 only, like this the GREEDY LANDLORDS can rip the city of its cash.
    The hiked price has zero with supply and demand. The same reason some schools try manipulating parents to get vouchers, because the school makes a pretty penny per child.
    All boils down to GREED! GREED! GREED!
    וישמן ישורון ויבעט

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