How much house can you buy here, there and everywhere? – Orange County Register

How much housing can you buy for $350,000?

In St. Louis, you can buy a 4,057-square-foot home with five bedrooms and four bathrooms.

In Boston, you’d only get one bedroom and one bathroom in 522 square feet.

Or you could buy one of the New Home Co.’s 10 planned 707-square-foot townhomes in Rancho Mission Viejo coming to market in November.

My recent column on this new local housing — a slice of the 80-home Azure neighborhood — stirred plenty of debate about the value of Orange County living.

Some folks are hopeful these new townhomes at such an eye-catching planned price are a sign of more affordable ownership options in the area. Remember, the last time the median selling price of an Orange County home was $350,000 was July 2002, according to CoreLogic.

Yet, other folks can’t see real bang for their buck in these townhomes, which are due in November. Critics typically cited “better” pricing outside of Orange County. For example, the median selling price of a single-family home nationwide is $255,000, according to the National Association of Realtors.

So I decided to do some window shopping of sorts, looking at various price indexes and home listings…

Read the full article from the Source…

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