Average US new home price $237,000?

Well, it's the median price, not the average, altough they are similar.

$237,000?
In a housing bear market?

Worse yet they buy the house to live in, not to rent it.
It seems obvious why there are so many foreclosures. And why many people doesn't have savings, much less investments -real investments, not disguised expenses-.

http://biz.yahoo.com/ap/070726/economy.html?.v=23

 

Sheez I can't even buy half a really crappy condo for 237k in San Fran

 

237k? seems really cheap, no? but i guess you have to average in all the houses in north dakota, south dakota, and poor southern states, etc.

i just think arizona, ca, fla, and ny ..... 237k buys you nothing.

 

I am in NYC, and 237k buy you nothing, not even a co-op.

 

You guys need to get on your bikes and go for a ride around the country and stay a month or so out here in fly over land. Believe it or not in some places, maybe not where you want to live at this point in your life, but you can still get a very modest 3 br 1 bath home for under 50k. Some pockets have been hit so severely by economic changes that houses are cheap.

 

They are NOT similar

The median of 100 homes sold for $100k and 1 home sold for $1 million is $550k.

The average of 100 homes sold for $100k and 1 home sold for $1 million is
( 100 x $100k + 1 x $1 million) / 101 = $108.9k

The median is a dirty little method the industry uses to mask the larger volume of declining home prices with the fewer transactions of higher-end homes.

RoughTrader

 

It would be better to look at regional numbers instead of a national number.

 

Median in the first case is $100k.

 

You forgot to throw in the $1 mil:eek:

 

not in manhattan, but can get a 1 bedroom, 1 bath co-op in brooklyn/queens.