In my state, the same home might be worth $60,000. My question is, are the salaries in California so much higher than everyone elses, that a regular person can buy a half million dollar home?
so are the mortgages for more than 30 years?
unofornaio
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EVERYTHING is more expensive out here. In the areas where you see these homes on TV Yes the salaries are way above the national average. There are however different parts of the state that depending on industry make up the salaries are more in line with the national average.
This question is a major concern in the Bay area and the L.A area in that the "average" blue collar worker cannot afford a home at today's current market prices. So most of them rent a place at a rate which would buy you a nice new home in most places in the country. So stay in school and go to college and you can live anywhere you want...
♥ Mel
The salary is higher there but the property is even higher. Way above most peoples ability to buy. I watch it too and can hardly believe it. But have some friends just sold a 2 bedroom condo for $1,200,000.00.It would sell in the mid west for about $100,000. Lack of property offered in California demands higher prices.
marcnancy1
i live in montreal and most of the house are not affordable...for a small 1 bedroom condo, you might pay up to 250 000$......
but in winnipeg , my mother in law bought a big 3 bedrooms condo for 100 000$....
i guess it just depend of the city...
anyway for your question, i think most people live on twice the amount their actually making...they are way deep into depts....i know that's the case in montreal...
Jack Chedeville
no, the average californian is renting, or commutes a very long distance to his job.
Anonymous
you can always find out at :
www.salary.com