If You Can Afford It Here, You Can Afford It Everywhere!
The National Association of Homebuilders (NAHB) & Wells Fargo released the third quarter affordability statistics yesterday. Northern NJ made the top 10, specifically the New York-White Plains-Wayne MSA (Includes Bergen, Hudson, and Passaic Counties).
NAHB Third Quarter Affordability
California once again dominated the HOI rankings for the least affordable major metropolitan areas. Right behind Los Angeles on this list was Santa Ana-Anaheim-Irvine, Calif., followed by San Diego-Carlsbad-San Marcos, Calif. and Stockton. The metro of New York-White Plains-Wayne, N.Y.-N.J. was the only non-California entry on the list of the five least affordable major housing markets.
1) Los Angeles-Long Beach-Glendale, CA
2) Merced, CA
3) Salinas, CA
4) Santa Ana-Anaheim-Irvine, CA
5) Santa Barbara-Santa Maria, CA
6) Modesto, CA
7) Santa Cruz-Watsonville, CA
8) San Diego-Carlsbad-San Marcos, CA
9) Stockton, CA
10) New York-White Plains-Wayne, NY-NJ
---
31) Newark-Union, NJ-PA
41) Edison, NJ
50) Atlantic City, NJ
For more information on the areas that make up these MSA's, please see: MSA Components (Warning, XLS File)
We're even less affordable if we look at our area in comparison with other metro areas (population > 500k):
1) Los Angeles-Long Beach-Glendale, CA
2) Santa Ana-Anaheim-Irvine, CA
3) San Diego-Carlsbad-San Marcos, CA
4) Stockton, CA
5) New York-White Plains-Wayne, NY-NJ
Affordability by Metro (Warning XLS)
Caveat Emptor!
Grim
NAHB Third Quarter Affordability
California once again dominated the HOI rankings for the least affordable major metropolitan areas. Right behind Los Angeles on this list was Santa Ana-Anaheim-Irvine, Calif., followed by San Diego-Carlsbad-San Marcos, Calif. and Stockton. The metro of New York-White Plains-Wayne, N.Y.-N.J. was the only non-California entry on the list of the five least affordable major housing markets.
1) Los Angeles-Long Beach-Glendale, CA
2) Merced, CA
3) Salinas, CA
4) Santa Ana-Anaheim-Irvine, CA
5) Santa Barbara-Santa Maria, CA
6) Modesto, CA
7) Santa Cruz-Watsonville, CA
8) San Diego-Carlsbad-San Marcos, CA
9) Stockton, CA
10) New York-White Plains-Wayne, NY-NJ
---
31) Newark-Union, NJ-PA
41) Edison, NJ
50) Atlantic City, NJ
For more information on the areas that make up these MSA's, please see: MSA Components (Warning, XLS File)
We're even less affordable if we look at our area in comparison with other metro areas (population > 500k):
1) Los Angeles-Long Beach-Glendale, CA
2) Santa Ana-Anaheim-Irvine, CA
3) San Diego-Carlsbad-San Marcos, CA
4) Stockton, CA
5) New York-White Plains-Wayne, NY-NJ
Affordability by Metro (Warning XLS)
Caveat Emptor!
Grim
3 Comments:
Watch out for the trick spin and manipulation. I have seen several houses listed but with NO sign in front.
What a bunch of sheisters.
Wow! If unaffordability implies desirability (i.e., the place is SO nice that people are willing to spend anything to live there), then Stockton is more desirable than NJ! That makes no freakin' sense at all. None.
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