Passaic New Jersey is on the top 12 of the list for over priced homes

5 02 2008

While many of the nation’s homeowners are worried about falling home prices, others would argue they’re not falling fast enough.

You might find them in Santa Monica, Calif. There, it takes just over 17 years of total earned salary for the median-income household to afford the median-priced home. In Berkeley, Calif., it takes almost 15 years and for Passaic, N.J. households, it’s a more reasonable 13 years.

To find the rest of the spots on our list, we used data from Demographia, a St. Louis-based demographic research firm that draws on U.S. Census data for areas considered suburbs in the nation’s 50 largest metros. Based on these numbers, we calculated how many years of total salary it would take the median household to afford the median house to find the country’s most overpriced areas. Forbes

Advertisements

Actions

Information

2 responses

11 02 2008
JoJo

I am si sick of overproced, overvalued homes on the market in NJ, what can a family making 64k a year afford even with a downpayment of 50k…NOTHING! Hope our government is reading this!!!!!! Affordable hosung in NJ NOWWWWW

10 03 2008
JERRY SANDERS

IF YOU ARE LOOKING TO BUY, OR SELL A HOUSE, TO RENT OR RENT OU AN APARTMENT IN PASSAIC-CLIFTON CHECK OUT MY WEBSITE OR CALL ME AT 973-473-2066.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s




%d bloggers like this: