We’re often told that a building with high rent or high property values is worth more than one with less.
But in a city where people have more options than ever before, that might not be a fair assessment.
Here are the top five most expensive housing developments in the United States for 2018.1.
New York City – $2.6M2.
Austin, TX – $1.6B3.
Los Angeles – $3.3M4.
Dallas – $5.6K5.
Washington DC – $7.6 MillionThe average price of a house in New York, according to Zillow, is $2,099,932.
In Austin, the average price is $1,976,000.
The average price for a detached house in Dallas is $4,400,000, according for Zillovision.
In Los Angeles, the median house price is about $1 million.
In Washington DC, it’s $2 million.
That’s not a lot of money, but it’s more than you might expect given that New York’s average house price in 2018 is about 3,000 times that of Austin.
In a way, it reminds us of the housing bubble in 2008.
If you want to make it through a recession and into the future, that’s something to consider.
But it also makes you think twice about how much you should be paying for that kind of property.