What kind of house can $1M buy now?
 

How much can $1 million buy you in today?s real estate market? The answer, of course, varies greatly depending on where you?re looking to buy. The past two years have been a tumultuous time for the real estate market, but some places have been hurt more significantly than others.

Here's a pictorial survey on how much house One million samolians can buy nowadays:

http://www.cnbc.com/id/29036051

$1 million will get a lot more a year from now :)

Would love to get a place in Hawaii... May just do it in a couple years.

You'd probably get a small condo in Hawaii for that price:2 cents:

Eh, that's not the range of houses you really want to compare. Million plus home sales have plummeted yes. Although I believe the worst is hitting the 200,000 - 299,999 range. I guess it depends on each area. But in the lower range markets is where you're going to see the crazy price to house comparisons to years ago.

Didn't read the article huh? The place in Hawaii for one mil had a 7,000~ sq ft lot.

The way asset deflation in housing is going, I believe you, bro. However, what do you think the impact of the coming stimulus-created hyperinflation will have on housing prices?

I think the biggest risk is the government simply devaluing the dollar. It's inevitable. One of the Congressional Research Service reports I posted here on GFY flat out said that devaluation is the probably going to be the way the government deals with the massive debt we have. Will it happen in a year? 5 years? 10 years? Not sure... but I am sure this is the plan since both Bush, Cheney and Obama have said "deficits do not matter" and the only way that is true is if we default on our debt or plan to devalue the dollar. I am going to bet on the latter. So save in gold... Unfortunately our government has a history of making gold illegal in times of trouble. That worries me a bit. I think the devaluation will be at least 5 years out, but who knows... For now though deflation is the order of the day.

FYI. Some of my Wall Street buddies are saying tomorrow and Monday are going to be a bloodbath. We may be in for a market crash... :Oh crap

its will depends on the architecture and interior design of your house!!!!

I wouldn't be surprised if it did happen. A few analysts were eyeing 6400 a while back. They were wrong about the timing but the fundamental issues they cited as supporting such a price level still remain in effect. :(:Oh crap:helpme

According to the link in the first post you'll get a kick-ass house with a killer view.