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Some Utah housing priced beyond means

I do not find homes that are less than 1/2 million dollars?
So who is buying these homes
Realtors always want you to sell for less
No realization about you buying another home
The cost of Materials are not cheap
How can you sell for less than it cost to build a home?

How can you sell for more than someone will pay?

We were alarmed at the price of housing in Utah County and wanted more affordable housing for our children. We were delighted to find a wide selection of very affordable homes on acreage near Louisville, Kentucky and across the Ohio River in Indiana. Regional hospitals, regional malls, colleges and universities, sporting events, horses, convenient access to airports also add to the quality of life here. The LDS temple in Louisville is within an hour's drive from many attractive neighborhoods in both states. We love it here and look forward to our children being able to buy affordable well-built homes nearby. Y'all come and visit to see for yourselves!!

(Note: I am NOT a real estate agent, real estate developer, or involved in the travel industry.)

This is why Utah is going to have to adjust. I know, that's not what realtors are telling you. Their paycheck depends on you buying.

Utah will probably not hurt as much as other areas. We'll probably only take a 20% - 22% dive overall and that's not so bad! Hopeful renters saving all they could for their downpayment sat and watched in horror as home prices mutated 20% per YEAR over multiple years. So it pretty much breaks even. Once Utah makes it back to affordability and those priced-out savers are allowed off the bench, we can have our market back. It's going to be OK! Just keep saving and don't let a realtor tell you now is the best time to buy. Their paycheck is bigger when you believe them. Just keep that in mind!

Then why is the same house in the midwest $200,000 less than what you would buy here? and the house is on a 1/3 of an acre.

The skyrocketing prices in Utah are ridiculous. We bought our first home in Highland (a modest 1500 sf rambler w/unfinished basement) for $97,000 in 1995.

I've heard that the home along with several others is going to be demolished so they can connect SR 92 with the freeway by expanding 4800 W.

Now I don't even think you can buy an empty lot in that area for < $200,000.

Houses might be affordable in Ogden, but who in their right mind would want to move into the middle of a Hispanic gangland? My sister in law used to live their and they weren't able to find a public school that taught Kindergarten in English anywhere near them.

A house is only worth as much as someone is willing to pay for it - Not the asking price.

Uh DD... You might want to see if you can find a Kindergarten that teaches English grammar. "My sister in law used to live their!?" Your loose grasp of the English language is almost as offensive as your racist comment.

So many stories published in the business section of Utah's newpapers over the past few years tout how we have a well educated workforce who essentially works for peanuts as compared to the rest of the country. If and when Utah (public and private sectors) starts paying its citizens a decent living wage, they will be able to afford a house here. Citizens should be voicing their anger and frustration towards changing the low-wage arena that permeates this state.

I live in Texas which is also quite affordable. Note to DD at 7:46 a.m., please refrain from racial mudslinging even though you are frustrated.

Dido, house prices are way to high. I make well above the median income and I am renting a basement because I can only afford to buy a townhome. Prices will crash in the fall. The same thing happened to the rest of the nation last fall and Utah laggs by about a year. Every honest and experienced real estate agent I know is telling me to stay out of themarket. All the other unexperienced real estate agents are telling me to buy now or you will miss out. It doesn't take a rocket scientist to figure out that prices are to high. BTW I am a rocket scientist.

I think they should check the facts before they post an article. I just moved here from Long Beach, and the article says that mediam income is higher in Orem than Long Beach (LA). That is far from the case. That does not make homes any more affordable, but I took a large pay cut to come here, and I know the median wage is more in LA area. Homes are over priced in both areas, so it really does not matter much. I am looking to buy, and have been watching the market for about a year now. Prices have only gone down, and with affordability still out of whack, not to mention the reduced ability to pay for a home because of escalating prices of food, utilities, gas, and all other living expenses, home prices will continue falling. I will keep watching and waiting. Nobody in their right mind would pay these prices, and the economics of it all say prices will only keep falling. I hope they fall flat on their face so everyone can get back in on level ground. If you flourished during the boom, hopefully you saved some and didn't live beyond your means.

What is racist about wanting your child to be educated in the English language as a citizen of the United States?

What are you talking about? Did you not read the article. The median household income in Ogden is $65K, Salt Lake $65.3, Provo $60K and Los Angeles $59.8K. So according to the article Utah is already paying more than people in LA are making.

So what exactly are we supposed to be voicing are anger about? The fact that we are making more money than those that have to live in LA? The fact that you can't manage your finances? Or the fact that you can't afford to have the biggest house on the block and afford all the toys to go with it.

It is just like buying a house. If you don't like the price, don't buy it. If you don't like the amount of money you get paid in Utah, move!

Your sister in law didn't look very hard in her search. There are actually no all-Spanish schools in Ogden. If she didn't recognize the language, it's probably because she has a weak command over the English dialect. A few olive-skinned kids in the classroom might feel overwhelming to a bigot, but otherwise I think most people would recognize the language spoken as English. Unless you are pure Native American, you are a descendant of immigrants to this country yourself--foreigners who barged in, killed the current citizens of the land and stole it from them and then changed the language to English.

Utah already has a problem with the greed and entitlement associated with exorbitant housing costs. Please don't add ignorance and intolerance to that list.

just wait until prices become affordable again before we buy. Oh wait, wouldn't that just cause prices to shoot right back up?

Realtors get too much time in the papers and on the news. Consumers buy houses and they aren't ready for this awful market. I just bought a house and I think it was a mistake. We have a long way to fall...Look around at those condos near you (they are everywhere). They were supposed to be finished in October, but they aren't half way done because people aren't buying.
The longer real estate agents hold out for high commissions, the harder we all will fall.

how is it racial mudslinging for someone to want their own child -- a United States citizen to receive an education taught in English?

Stating facts about what life is like in Ogden is not racist. My nephew spent his first day of Kindergarten at an Ogden public school as the only English speaker in the class. The entire class was taught exclusively in Spanish. He came home from school in tears. His Mom called the school and was told that the school didn't have a single Kindergarten class taught in English. The parents had to find a school across town and drive their son back and forth every day, until they were able to move out of Ogden.

With all of the gang-related problems taking place in Ogden, it is ridiculous to deny that there is a problem. The relative cheap housing there makes it a very attractive area for the thousands of illegal aliens arriving in Utah.

It's true you can't sell for more than someone is willing to pay.
Anyone who is smart will just sit back and wait until the sellers understand this and then they can buy the home for the price they want.
I don't think that lenders should have ever extended loans to individuals with bad credit, small pockets and big eyes.
I blame them for putting us into this housing market situation. Let them learn from their mistakes. It wont last very long, eventually they will have to drop their prices to get out before they loose everything.
Wait until the banks start foreclosing on all this expensive homes, then people will be able to buy them up for reasonable prices.