Houses are so cheap in the us

There are 50 states in this country. Even within states, there can be a very wide range. To make the blanket statement that houses in the U.S. are "so cheap" would be like saying that all Canadians earn $1,000,000+ each year. What is true for a few is not true across the board. I have lived in areas where there are $35,000 fixer-uppers. Of course, good luck having a decent job in those regions. I have also lived in areas where the average home price is more along the lines of your current neighborhood.

That is mainly because the housing market went way down starting at the end of 2007. I sold my two family house in New York for 465,000 dollars back in March of 2007 got out just in the nick of time. What that house may be worth now is probably half of that, if that. Its a shame what the market has done but I guess its good for the first time buyers out there. Thankfully I have a house paid off now in Puerto Rico and don't have to deal with mortgage payments or taxes.

a hundred thousand is a big amount. But yeah. if I convert it in our currency it is also enough and even more to buy a nice house with 3 bedrooms or sometimes more. maybe the prices are based on location. That's how houses are priced here in our country.

You can blame the Chinese taking back control of Hong Kong. A lot of HKers were afraid of losing their money so moved out of HK before the takeover. They were used to high housing costs, so didn't flinch at paying $50-60,000 for a one-bedroom condo in DT Vancouver. Which slowly raised the prices with every sale until we get the outrageous prices now being asked across the country. I paid $57,000 for a modest one bedroom and den strata unit in 1988, at 12th & Main, not even DT. When I sold it in '95, it had doubled in price. I shudder to think what it costs now.

Different places have different housing supply and demand. Where you live the demand for housing must be much greater than the supply, that's why the high price. This law of economics applies everywhere.

Don't be sad.Your house are so cheap in my mind. In my city ,you can't buy any house,even 1 bedroom. Can you guess where am i live?

my area of the US they're not.a "fixer upper" (read piece of crap)starts at 300K. they're way overvalued.it's ridiculous.my mom's is valued at 3 quarters of a million,and i see nothing about it that makes it worth that.

It depends greatly on where specifically you live. There are some states where housing is controlled by the government. You can't build where you wish. In those areas, the cost of housing is insanely high. Then there are other places where the government doesn't place much restriction on what you can build, and where you can build. In those areas, prices are very reasonable. Now as it relates to Las Vegas, there is another reason that prices are cheap. Actually two reasons. In the pre-2008s, Las Vegas was a boom town for building. They were building everywhere. However now the situation has reversed. Las Vegas is a notorious tourist town. The economy of Las Vegas is largely dependent on massive numbers of stupid people (my opinion) who go there and lose money on gambling. Right now, the gambling market is low. Our lack luster economy has left stupid people with little money to blow on gambling. As a result they built so many homes, and now the economy is bad and few people can buy any homes, the prices have crashed in Las Vegas. The prices you see right now, are NOT typical. Over supply, with low demand, has killed the prices. If the US economy ever fully recovers, and people go back to idiotically blowing millions on gambling in Las Vegas, the prices will come back. Where do you live? Why are the prices so high there? Is your place a boom town? Or is the government controlling home building which is driving up the price?

The price of a house in my place depends upon several factors, most important is its location, whether it is on the main street, as one goes away the price falls, second is size, amenities; i have 2 3 storey buildings of my own.. here a 3 bed room, kitchen, hall will cost 50 lac rupees if on ground floor Thanks for this discussion friend.

That is so unfair,people in US earn so much meanwhile the houses in there are so cheap... In my city,usually the apartment with 3-4 bedrooms with cost us more than 300,000 USD,but the average income in our city just one tenth compare with the citizens in USA,I feel so sad about that.

Yes some are... my dad owns a 4 bedroom home in las vegas. He bought it, like 3 years ago for $115,000....

I agree with wilsongoddard. Some house are much cheaper than others. And that is worldwide, not just in the States. Also, income has a big role to play, too. $35000 house might be way too much for someone to afford. And for someone else, $35000 is virtually nothing to them.