When it comes to least affordable counties to buy a house, four of NYC’s five boroughs take up almost a third of the list, with Manhattan (New York County), Brooklyn (Kings Country), the Bronx (Bronx County), and Queens (Queens Country), each “earning” a spot.
The West Coast isn’t off the hook, either. Beating out Manhattan for the dubious honor of most expensive city for young people is San Francisco. Buying a median-priced three-bedroom house—$950,000 as of this April— in the City by the Bay will cost median income earners more than 78% of their wages.
I really can’t help but have tears of joy every time I see this chart.
For so long, all of us worked together to ensure that the Real Bay Area would one day defeat our arch nemesis, Manhattan, to ensure that we were the most expensive place to buy real estate.
And now the news is spreading far and wide that we’ve done this.
San Francisco beats Manhattan (aka New York County), Brooklyn (aka Kings County), Queens, and (I’m guessing) Staten Island. All 5 boroughs. A sweep. One city crushes another city.
Sure, we still need to beat Tokyo and London. But this is a fantastic start.
And there’s more. By being more expensive than NY, we will attract attention as being expensive – this will help prices soar even further as panic buying sets in.
Watch out Tokyo and London – you’re next.
In the meantime, take that New York and Manhattan! We’re #1! We’re #1! And more people know it than ever now!
What will you be doing to help us beat those cities?