# Real Estate Prices going down? Where? **URL:** \ **Category:** Factual Questions\ **Created:** [May 29, 2021, 9:44pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189 "2021-05-29T21:44:23Z")\ **Posts on this page:** 20\ **Page:** 2
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [June 26, 2021, 6:12pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/21 "2021-06-26T18:12:24Z")
Everybody has their own Upstate, but for all practical purposes it’s anything past those counties What Exit pictured. Essentially the state past Woodstock. Including Albany. If you ever been to that area you know how similar it is to Syracuse, Rochester, Buffalo, and Binghamton. The median prices in Albany and Rensselaer counties may be $50,000 higher but that’s still a small fraction of the hot zones. ---
**Author:** ![Jackmannii](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jackmannii/32/311_2.png) [@Jackmannii](https://boards.straightdope.com/u/Jackmannii)\ **Post date:** [June 26, 2021, 6:34pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/22 "2021-06-26T18:34:47Z")
> [@Q.Q.Switcheroo](#): > > **Fiorello:** Can he live in New York on three dollars? > **Driftwood:** Like a prince! Of course he won’t be able to eat, but he could live like a prince. [![](https://uploads.disquscdn.com/images/0370911cdf838eff6336cdbcf639fa3d3da953a1843a1a873f8a037687b1aef8.jpg?w=600&h=695) ](https://uploads.disquscdn.com/images/0370911cdf838eff6336cdbcf639fa3d3da953a1843a1a873f8a037687b1aef8.jpg?w=600&h=695) ---
**Author:** ![Whack-a-Mole](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/whack-a-mole/32/141_2.png) [@Whack-a-Mole](https://boards.straightdope.com/u/Whack-a-Mole)\ **Post date:** [June 26, 2021, 6:44pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/23 "2021-06-26T18:44:57Z")
> [@Exapno\_Mapcase](#): > > Everybody has their own Upstate, but for all practical purposes it’s anything past those counties What Exit pictured. 🙁 ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [June 26, 2021, 10:25pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/24 "2021-06-26T22:25:59Z")
As they say downstate: da fuck? ---
**Author:** ![Whack-a-Mole](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/whack-a-mole/32/141_2.png) [@Whack-a-Mole](https://boards.straightdope.com/u/Whack-a-Mole)\ **Post date:** [June 26, 2021, 10:28pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/25 "2021-06-26T22:28:32Z")
@What_Exit is not the same as @Whack-a-Mole (no matter how much he/she wishes otherwise). Maybe you were not referencing me but since @What_Exit has not posted in this thread pretty sure it was not that person. ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [June 26, 2021, 11:39pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/26 "2021-06-26T23:39:24Z")
Ah. Got it. I think what happened is that I had two replies in my notice box, the other was from What Exit, and that stuck in my head. Sorry. But as long as we’re talking “what,” what can anyone be thinking when they post a emoji with no other information and assume that will be understood? I still have no idea what @Jackmannii meant. ---
**Author:** ![Whack-a-Mole](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/whack-a-mole/32/141_2.png) [@Whack-a-Mole](https://boards.straightdope.com/u/Whack-a-Mole)\ **Post date:** [June 26, 2021, 11:45pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/27 "2021-06-26T23:45:39Z")
I think the poster would assume that the person reading it would look more closely at the post it was in response to and figure it out. That’s just me though. ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [June 27, 2021, 12:00am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/28 "2021-06-27T00:00:11Z")
So tell me what Jackmannii meant in that case. ---
**Author:** ![peccavi](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/peccavi/32/388_2.png) [@peccavi](https://boards.straightdope.com/u/peccavi)\ **Post date:** [June 27, 2021, 12:08am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/29 "2021-06-27T00:08:09Z")
> [@Exapno\_Mapcase](#): > > Everybody has their own Upstate, I was just looking at the National Association of Realtors map of median home prices by County. In California, which now has a median home price of \>$800 K, if you’re willing to live away from the coast, generally you will be in a market with median home prices below $350 K. In fact, if you are willing to live in the far northeast of the state, you’ll find a median house price of about $150 K (with the added bonus of getting in on the ground floor of the [State of Jefferson](https://en.wikipedia.org/wiki/Jefferson_(proposed_Pacific_state))). > **[County Median Home Prices and Monthly Mortgage Payment](https://www.nar.realtor/research-and-statistics/housing-statistics/county-median-home-prices-and-monthly-mortgage-payment)** > > Median home values were calculated for 3,110 counties and county-equivalents in the U.S. Home values represent the value of all homes, not home sales. ---
**Author:** ![doreen](https://avatars.discourse-cdn.com/v4/letter/d/858c86/32.png) [@doreen](https://boards.straightdope.com/u/doreen)\ **Post date:** [June 27, 2021, 3:17am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/30 "2021-06-27T03:17:29Z")
> [@Exapno\_Mapcase](#): > > However, most of the red dots on the map are urban counties, which still retain good cheap housing plus the amenities of being urban, minus the traffic jams. You’d have to investigate the job possibilities for your particular expertise, but you’d need to do that anywhere. That’s the problem - you can only live like a king in those places if you can find a job there that pays as much as the job pays in the more expensive location _or_ if you are moving there after retirement _or_ if you’re going to walk away with a lot of money after selling a house/apartment in the more expensive place. My brother-in-law lives just outside Rochester NY. His house is nearly twice the size of mine , he has 4 times as much property and his house is worth half as much as mine in NYC is. Problem is, my husband would earn half as much in the Rochester area as he does in NYC. We could sell our NYC house now and have enough cash to buy a house in the Rochester area with a lot left over - but if we had sold and moved up there 25 or 30 years ago, we wouldn’t have been living much better up there than we have in NYC \* \* Although my job in state government pays basically the same no matter where I work, there are about 25 positions in my title in the NYC metro area , and only 3 in the Rochester/Buffalo area. If I had moved to Rochester back then, I probably would not have the same title I have now. ---
**Author:** ![naita](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/naita/32/5862_2.png) [@naita](https://boards.straightdope.com/u/naita)\ **Post date:** [June 28, 2021, 2:04pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/31 "2021-06-28T14:04:59Z")
He expressed doubt about the veracity of your statement. As to the details of that doubt it’s just as hard to tell as if he’d posted “Really?” ---
**Author:** ![Jackmannii](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/jackmannii/32/311_2.png) [@Jackmannii](https://boards.straightdope.com/u/Jackmannii)\ **Post date:** [June 28, 2021, 10:25pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/32 "2021-06-28T22:25:37Z")
Geez, I was just making a mildly snarky remark about the pleasures (or lack thereof) of living in upstate New York.\* \*I once spent several years one winter in Syracuse. ---
**Author:** ![elfkin477](https://avatars.discourse-cdn.com/v4/letter/e/a9a28c/32.png) [@elfkin477](https://boards.straightdope.com/u/elfkin477)\ **Post date:** [June 28, 2021, 10:52pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/33 "2021-06-28T22:52:29Z")
> [@Dewey\_Finn](#): > > I don’t think there _are_ very many places where real estate prices are declining I think that is about to change. I’d love to move but live in one of the states with the 5 hottest markets and this month, for the first time in a bout a year, I’ve seen houses with price cuts. There have been a few articles over the past couple weeks wondering if price have finally peaked. ---
**Author:** ![Orville\_mogul](https://avatars.discourse-cdn.com/v4/letter/o/aeb1de/32.png) [@Orville\_mogul](https://boards.straightdope.com/u/Orville_mogul)\ **Post date:** [November 2, 2021, 6:09am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/34 "2021-11-02T06:09:16Z")
I grew up in Otsego county and studied in Ithaca. I hear ya 🥶 ---
**Author:** ![P-man](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/p-man/32/3606_2.png) [@P-man](https://boards.straightdope.com/u/P-man)\ **Post date:** [November 2, 2021, 5:15pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/35 "2021-11-02T17:15:39Z")
Our son has spent three winters in Ithaca and has never complained. His final semester is going to be in LA this coming winter, so it may be a big adjustment. ---
**Author:** ![md-2000](https://avatars.discourse-cdn.com/v4/letter/m/9d8465/32.png) [@md-2000](https://boards.straightdope.com/u/md-2000)\ **Post date:** [November 2, 2021, 6:30pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/36 "2021-11-02T18:30:37Z")
Was it Harry Chapin on _Greatest Stories Live_ said of Watertown “I spent a week there one afternoon” ? ---
**Author:** ![Exapno\_Mapcase](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/exapno_mapcase/32/1051_2.png) [@Exapno\_Mapcase](https://boards.straightdope.com/u/Exapno_Mapcase)\ **Post date:** [November 2, 2021, 9:29pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/37 "2021-11-02T21:29:54Z")
If he did, he was paraphrasing a very old line told about a million different places. W. C. Fields is supposed to have said that about Philadelphia. ---
**Author:** ![PastTense](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/pasttense/32/14550_2.png) [@PastTense](https://boards.straightdope.com/u/PastTense)\ **Post date:** [November 3, 2021, 1:03am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/38 "2021-11-03T01:03:06Z")
Interesting news: > **[Zillow to stop flipping homes for good as it stands to lose more than $550...](https://www.marketwatch.com/story/zillow-to-stop-flipping-homes-for-good-as-it-stands-to-lose-more-than-550-million-will-lay-off-a-quarter-of-staff-11635885027)** > > Zillow Group Inc. is calling it quits on the home-flipping business, while disclosing losses of more than $550 million on homes purchased in the second half... You would sort of expect Zillow to know what houses are worth. But if they are flipping houses and losing money it suggests house prices may be going down. ---
**Author:** ![Oredigger77](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/oredigger77/32/3181_2.png) [@Oredigger77](https://boards.straightdope.com/u/Oredigger77)\ **Post date:** [November 3, 2021, 2:13am UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/39 "2021-11-03T02:13:51Z")
While they may know what a home is worth it sounds like they have no idea what construction costs. Especially in the last 3 years the cost of construction has skyrocketed so I would guess they are paying too much for their distressed homes and then not able to sell them for enough to get their money back then assuming home prices are decreasing. ---
**Author:** ![DavidNRockies](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/davidnrockies/32/6279_2.png) [@DavidNRockies](https://boards.straightdope.com/u/DavidNRockies)\ **Post date:** [November 13, 2021, 4:29pm UTC](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189/40 "2021-11-13T16:29:55Z")
To put a marginally finer point on it: > **[Buy high, sell higher not a winning strategy for Zillow](https://fortune.com/2021/11/03/zillow-house-flipping-overpaid-offers-unit-bank-of-ameria/)** > > Paying top dollar for houses that have already run-up at historic rates is not a recipe for house-flipping success—as any fan of the television show "Flip this House" can tell you. A Zillow “For Sale” sign recently went up in my neighborhood. When I saw both the asking price _and_ the price Zillow had paid for the property, I knew they had lost their ever-loving minds. But I’m definitely going to contact them and see if they’d like to buy my house … y’know … before they totally tank that arm of the biz 😉 [Previous page](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189.md?page=1) [Next page](https://boards.straightdope.com/t/real-estate-prices-going-down-where/943189.md?page=3)