• Re: median and mean incomes and buying median and mean houses in certai

    From MummyChunk@21:1/5 to All on Sat Dec 23 15:07:43 2023
    michael anderson wrote:
    was just thinking about this as I'm about to buy a place in Atlanta
    to be closer to family.

    I get a chuckle out of how idiots and the media(ok....same thing I
    know) report these things like they mean something.

    Let's take Atlanta, and not only Atlanta but ITP atlanta(which also
    includes places like Brookhaven, Vinings, etc).

    I'll read something like "In metro atlanta median(or
    sometimes) household income is 89k and single family houses average
    almost 355k"

    ok, first off it's important to note that income(and housing costs)
    are very bi-modal. The people buying the 'average' house aren't
    making 89k as a freaking family(not at these interest rates and not
    without family money, inheritance, etc). More like 250-300k as a
    family(mostly DINKS anyways).

    And mean or median housing price is ridiculous in the context it is
    often used.

    I always remind you guys of this principle: city A can have
    average housing costs of 350k and city B could have average housing
    costs of 600k, but that *doesn't* mean average housing cost of a reasonable/safe house is more affordable in A than B. If most all of
    B's area contains safe/reasonable houses and only 15% of A's does,
    then A from a practical standpoint is far more expensive.

    You see this a lot in comparisons of urban/larger areas vs a more
    remote suburb. The remote suburb 'seems' more expensive; no......it
    only seems that way because you're including lots of houses in a war
    zone that the intended audience would never consider purchasing.

    ITP Atlanta is a good example of that. There are no houses for
    this 'average' of whatever it is they report(high 300s I think).

    In reality these are the 'livable' areas inside the perimeter of
    Atlanta with single family residences: Ansley park, morningside, parts
    of midtown but not many houses there anyways, most of
    Virginia-Highland, parts of Inman park, parts of Lake Claire, about
    70% of druid hills, 30030 Decatur(not the part in a different zip code
    that says decatur), most of Vinings and Brookhaven and Chamblee, and
    most of Buckhead. I know that doesn't mean much specifically to
    people who don't know atlanta, but the point is that MOST of atlanta
    that is included in this average figure doesn't contain reasonable
    houses anyone that doesn't have a death wish would consider living.

    So in reality the average ITP atlanta single family residence
    housing price is about 1.2 million. And all of a sudden the
    'affordability' picture becomes much more complicated. But does the
    idot media report this? no....of course not.

    And atlanta is not alone on that....Im sure many urban areas are
    like this.

    Now when they say something like the average buckhead housing price
    is about 700-800k(Im not sure of the exact number), that does mean
    something because a much higher percentage(in fact most) of the
    housing stock there is fine to live in.

    So never ever base where you decide to move based on where these
    sorts of numbers say it is affordable to purchase a home, because they
    can be very very misleading.

    Just my rant for the day lol.......

    I think it would be
    really easy to just take a look at Zillow to get an idea of what the
    reality is in regards to the housing situation in any particular area.

    This is a response to the post seen at: http://www.jlaforums.com/viewtopic.php?p=657709731#657709731

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