I am addicted to Redfin.

[Tokyo Slim]

Originally Posted by RedScarf7

While this is true I did cite that the average condo is ~$450-550/sq ft. Didn't mean to derail your threak. On with the condo pr0n.

That is still an inflated number if its only condos. Where do you live?

 

[Tokyo Slim]

To answer your general question, it comes down to many factors, price and availability of building materials, aggregate wealth of the community, landscape and how much available space you have to build residential homes, and etc.

NYC, is a good example. It is expensive because there are more people who want to buy homes, with higher income available to them, then there is space within the city limits. This, and the actual cost of building in NYC is higher due to similar conditions, therefore the price per square foot of residential space is higher.

 

[RedScarf7]

I live in Calgary. I was speaking specifically about downtown condos so you are right in saying that the average cost for a home in the city is less than what I stated.

Interesting points. I hadn't thought that the cost of materials would differ so much across regions. I imagine cost of construction is a lot less in the regions where cheap Mexican labour is widely available.

 

[Tokyo Slim]

Originally Posted by RedScarf7

I live in Calgary. I was speaking specifically about downtown condos so you are right in saying that the average cost for a home in the city is less than what I stated.

Interesting points. I hadn't thought that the cost of materials would differ so much across regions. I imagine cost of construction is a lot less in the regions where cheap Mexican labour is widely available.

Also, stuff like local building codes and regional preferences etc. Some places require more expensive/extra materials that affect building cost.

Its not a huge difference in a lot of places, but it adds up. Something like 50% of homes in certain parts of the counntry come with a swimming pool. Other parts of the country require snow braccing and extra insulation. Or hurricane windows, siding and roofing.

Stuff adds up differently. A house is not always directly comparable.

 

[closetmess]

Originally Posted by Tokyo Slim

Also, stuff like local building codes and regional preferences etc. Some places require more expensive/extra materials that affect building cost.

Its not a huge difference in a lot of places, but it adds up. Something like 50% of homes in certain parts of the counntry come with a swimming pool. Other parts of the country require snow braccing and extra insulation. Or hurricane windows, siding and roofing.

Stuff adds up differently. A house is not always directly comparable.

Vancouver, Toronto and recently Calgary have competed as, unfortunately, some of the most expensive real estate in North America. These are desirable cities to live in, and represent (other than MTL) our biggest cities a la NY/LA/Chi ... hence, Seattle is cheap by comparison. Condos in Toronto (not the GTA) are well into the $700/s.f. discussion and I'd HATE to even guess what downtown, west, or ocean side VanCity goes for these days. Ugh.

 

[RedScarf7]

Originally Posted by closetmess

Vancouver, Toronto and recently Calgary have competed as, unfortunately, some of the most expensive real estate in North America. These are desirable cities to live in, and represent (other than MTL) our biggest cities a la NY/LA/Chi ... hence, Seattle is cheap by comparison. Condos in Toronto (not the GTA) are well into the $700/s.f. discussion and I'd HATE to even guess what downtown, west, or ocean side VanCity goes for these days. Ugh.

Earlier this week on CTV they said the average home price in Vancouver is now over $1 million.

 

[BankerBoi]

New York master list: http://ny.curbed.com/marketplace/pro...a=3+&site_id=7 ================================= http://www.redfin.com/NY/Long-Island.../home/20960333 http://www.styleforum.net/attachment...1&d=1277620766 5 mil ? ================================================================================================ Inside make me through up in my mouth sick: http://ny.curbed.com/marketplace/properties/14057 http://www.styleforum.net/attachment...1&d=1277621582 Under 400k, but do ask what the monthly fees are.

 

[zjpj83]

Setai in midtown Manhattan is selling for about $4,500 per square foot.

 

[Tokyo Slim]

Originally Posted by closetmess

... hence, Seattle is cheap by comparison.
Again, your numbers are not accurate for the discussion at hand. I'm looking at the average price per residential square foot of the city of Calgary. And it's about $60-70 a sf cheaper than Seattle after the currency conversion. Yes, I'm sure you have some nice, expensive condos. You must also have some cheap, ****** houses there to balance everything out, just like in most places. I fail to see how Calgary, with a $328CAN/sf (2010 so far) average and a $301CAN/sf May average, is "competing" for some of the most expensive real estate in N America...? Or how it's "more expensive" than the $370US/sf average that Seattle currently has YTD. Seems like Calgary is pretty close, but slightly cheaper than Seattle.

another thing you can look at, is average sale price. Seattle = $371,600 USD \t Calgary = 382,000.00 CAD which is\t368,850.48 USD This seems to bear out that Calgary and Seattle are pretty even, but that Calgary is slightly less expensive.

 

[closetmess]

I was speaking mainly of Toronto and Van, of course, as I qualified Calgary as "recently" competing for higher s.f. in Canada.

I'd much rather pay Calgary or Seattle prices per s.f., don't you worry!

 

[Tokyo Slim]

Originally Posted by closetmess

I was speaking mainly of Toronto and Van, of course, as I qualified Calgary as "recently" competing for higher s.f. in Canada. I'd much rather pay Calgary or Seattle prices per s.f., don't you worry!
I see. In that case, I'll agree.

Though I'd actually rather pay Cleveland prices in Seattle. I can probably actually afford a home in Cleveland, but who wants to live there?

 

[GQgeek]

Originally Posted by RedScarf7

Earlier this week on CTV they said the average home price in Vancouver is now over $1 million.

How does anyone get loans for those things when household incomes can't come close to covering mortgages on houses that expensive? You'd need to earn over 200k/yr and that's hardly common. I think average household income in toronto is about 85-90k. Not sure about Vancouver.

 

[RedScarf7]

Originally Posted by GQgeek

How does anyone get loans for those things when household incomes can't come close to covering mortgages on houses that expensive? You'd need to earn over 200k/yr and that's hardly common. I think average household income in toronto is about 85-90k. Not sure about Vancouver.

I've wondered the same thing. I guess that is why most live in suburbs where housing prices are more reasonable. My aunt lives in a desirable neighbourhood where she paid under a million many years ago, and she thinks it would be worth 3 million now. I suspect some people were grandfathered in this way, too.

 

[suited]

Originally Posted by MetroStyles

WTF?

From the OP: http://www.redfin.com/WA/Seattle/100...t-D/home/61637

This 2BR for less than 400K? Lol, I need to move to Seattle ASAP.

http://www.onemiranovaplace.com/prop...tail.asp?id=60

You could get this for the same price if you're content with giving up nyc for osu bars.

 

[Dashaansafin]

Originally Posted by Tokyo Slim

Cause it seems like you came around just to **** on my porch.

You have to make up better reasons to pick a fight though. Kinda lame to misrepresent someone in a thread with only four pages of evidence to to examine. Its like cheating on a test about cliffs notes. Just lazy.


Ill let it slide this time. Better effort next go around or I'll be less tolerant.

No one came around to **** on your porch. You publicly stated you make 20k a year, and yet you are looking at condos that cost 20-30x of what you earn. (before utilities, living expenses, etc). You also said there was no end in sight. Of course someone is going to ask you how you expect to afford these things? Finance it off of debt?