You can't buy on the west coast for a quarter million. A house big enough to start a family will likely start at a half million, and in some communities will come with hefty tax burdens.
in 2025 anything vaguely desirable in a coastal-ish city is starting at more like 600-700k. actual decent houses will be 1MM or more.
the folks in those areas, if you owned a house for the last 20 years, are now richer than ever due to that property appreciating. but the younger generation is absolutely screwed
You can't buy on the west coast for a quarter million. A house big enough to start a family will likely start at a half million, and in some communities will come with hefty tax burdens.
in 2025 anything vaguely desirable in a coastal-ish city is starting at more like 600-700k. actual decent houses will be 1MM or more.
the folks in those areas, if you owned a house for the last 20 years, are now richer than ever due to that property appreciating. but the younger generation is absolutely screwed
> if you owned a house for the last 20 years, are now richer than ever due to that property appreciating.
Only if you sell it, and move somewhere with a much lower cost of housing.
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The north coast has cheap housing.
Sure, but you can certainly afford a house on the West Coast with an income of $250k.