Which markets are the least affordable markets

4 Replies

I am of the opinion that the lease affordable markets in America are the larger markets like San Francisco, LA, NY, Honolulu and such...  Thus this markets should have the highest concentration of "thirsty" investors for affordable deals.  Do you agree, do you disagree, and why...?

I would absolutely add Lake Tahoe California to that as well - the market is so slim on inventory and over saturated with buyers. I don't necessarily think people in those markets are thirsty for affordable deals, they're just looking for deals period! Even those willing to overpay aren't landing deals in some markets right now.

Alot has to do with inventory or lack thereof.  Many of the cities you mentioned have tight restrictions on expanding that inventory, propping up prices higher and higher.

I live in New York and finding distressed homeowners isn’t that hard though, they been in their homes for a long period of time, usually have low mortgage balances or non, are retiring and moving to Florida and usually the flips here are higher dollar amounts and when you sell it’s a market that prices don’t fluctuate up and down much giving it consistency. Texas for example has so much land and choices people have options not to mention when you do flip it’s a small margin hence all the new construction instead. My opinion though.