Where You’ll Pay Less for a House Than a Condo

Plus some good news about both [View in browser]( BROUGHT TO YOU BY: Proprietary Data Insights Top Mega-Cap Stock Searches This Month Rank Name Searches #1 Apple 196 #2 Microsoft 8 #3 Oracle 8 #4 Intel 5 #5 Coca-Cola 3 #ad [Power Your Portfolio With Alternative Investments]( Brought to you by [InvestorPlace Media]( [Worse for Your Savings Than Inflation (You need to see this)]( This might be the worst news about the U.S. dollar yet. You’ll want to see what’s coming down the pike before it happens… … so you can protect yourself and your loved ones. Please see this urgent message and then pass it on to anyone you care about (make sure YOU see it first). [Get the Rest of the Details Here]( Where You’ll Pay Less for a House Than a Condo [Yesterday](, The Juice began our two-part series on the changing housing landscape by looking at the nationwide renting-vs.-owning premium. Basically, as of the end of 2022, it costs a lot more each month to own a home than it does to rent an apartment. Today, we look at another area of the housing market with interesting data: condos vs. houses. The path to ownership for lots of people – particularly young people – used to be buying a condo first, then moving into a single-family home. This is because, traditionally, condos were less expensive than single-family homes. While this remains the case in some cities, it doesn’t in others. Recent analysis from Point2 comparing the cost difference between condos and single-family homes across the U.S. contains some subtle surprises, but also highlights potential opportunities in this crazy expensive housing market. [Houses] Source: Point2 All in cities in the eastern half of the nation, you can, on average, score a single-family home for less than or the same price as a condo. For example, in Detroit, there’s a 75% discrepancy between the two. The median house costs $58,000, while the median condo costs $229,000. Other cities with large differences are Akron (39%), Cleveland (36%), and Birmingham (29%). There’s no difference between the two types of dwellings in Rochester, NY. Of course, many of the low-priced homes in these and other cities (especially Detroit) require work. But among the houses at or around the medians, you can find good deals. You might just have to move into an older home. New condo construction is one factor behind those dwellings’ relatively lofty prices. Point2 also crunched numbers on where houses cost more than condos and how many years of income it would take to close this gap. Some findings: - In Providence, RI, where houses cost an average of only $3,000 more than condos, it would take less than one month’s median salary to close the gap. - At the opposite extreme, houses cost $744,000 more than condos in Honolulu, requiring a stunning 10 years’ worth of the median income to close the gap. - Among the cities where it takes more than five years’ worth of the median income to offset the price differences: Bellevue, WA; Hialeah, FL; Arlington, VA; Glendale, AZ; and Irvine, CA. [Banking Nightmare]( During and after the Great Financial Crisis of 2008, 485 U.S. banks went under. Here at Weiss Ratings, we warned about 484 — an accuracy rate of 99.8%. Now, we have a new warning. But this time, it's not just about a few hundred banks … it's about nearly every single bank in America … [Get all the details here]([Ad] The Bottom Line: As with most housing news these days, lots of it is bad in Point2’s analysis. But The Juice found something good: Good deals on single-family homes and condos exist across much of the country. If you’re in the market for a place to buy, compare condos against single-family homes in your target areas. You might find affordable opportunities in one or both housing types. mailto:?body=Article URL: https%3A%2F%2Finvestingchannel.com%2F%3Fp%3D577408?utm_medium=ic-nl&utm_source=105160 Freshly Squeezed - [11 Best Cryptocurrency Stocks to Buy According to Hedge Funds]( - [Your One-Stop Shop for FREE Stock Picks]( - [Alibaba Split Boosts Optimism in Chinese Tech Stocks]( - From The Spill: [What Buffett and Trump Have in Common]( mailto:?body=Article URL: https%3A%2F%2Finvestingchannel.com%2F%3Fp%3D577408?utm_medium=ic-nl&utm_source=105160 [We want to hear from you! 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