Small Business Reading Room

Thursday, January 13, 2005

Where is YOUR Business?

Rich Karlgaard of Forbes Magazine has frequently written about how digital technology allows more and more people to live where they want and earn money from all over the globe.

Further information you may find interesting is now available at regarding the least affordable housing markets in the United States. The Wall Street Journal of January 12 outlined the study’s' findings that there are several places where the median income person could afford only 50% or so of the price of the median house. I guess it is not surprising that fully 20 of the 29 least affordable housing markets are in California. Mr. Schwarzenegger has a long way to go !

On the other end of the scale, the depressed areas of New York offer some fine housing values if you can find a way to earn an income somewhere else. The median income person can afford 300% of the price of the median house in places like Elmira and Jamestown. Fully 6 out of the 10 most affordable housing markets are in upstate New York.

It is interesting that the housing markets that are at the extreme edges are in two of the highest tax states in the nation. I wonder if there is causation here?


As someone going through the home buying process, I found this information very interesting. I fall within the median household income for Newark, however, I can barely afford the median house. I have learned that the Median House costs about $200,000. According to my calculations, I can afford 81% of the price of the median house. I guess Newark, Delaware isn't that different than the rest of the country. I guess the bright side is that I don't live in California.

By Blogger Melissa, at 4:48 PM  

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