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[–]C3P0 2 insightful - 2 fun2 insightful - 1 fun3 insightful - 2 fun -  (2 children)

How can so many people afford a home that costs $613,470?

[–]FediNetizen 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

It's a median new home, but California has a lot of expensive areas. The Bay Area is insane, with median homes in the $1.5 million range. Los Angeles is also expensive, though not as bad. Real Estate prices have just skyrocketed over the last couple decades in cities, and California has always been expensive.

On a side note, I'm so glad I bought a house in Ohio. I paid $90k in an area where the median for the area was around $100k at the time. Mortgage with taxes & utilities is about $650, which is less than a lot of people's car payments. I wonder how many tech bros are slaving away to own a house in the Bay Area that don't realize they could just save their pennies for a couple of years and buy a decent home in the Midwest, paid in cash.