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guerop3 | Why is it that houses in the city are more expensive than in the sububs or in the farming areas? |
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Dorothy and Toto
|
The first thing real estate agents learn is that the 3 most important things about any property is location, location , and location.
People in cities have more ability to pay higher prices, and they want the convenience of living in the city. (generally) Let's face it, how many people do you know who would PREFER to drive an hour to work and back? |
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Eva
 |
It is the house as well as it is the land the house is sitting on. Property in the city is closer to industry, shopping, schools, entertainment, utilities, public transportation, and is more likely to be used in future development. |
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Jill
|
They're not. I know some pretty rich ranchers who live out of city limits with more expensive houses than some city people. |
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sowhatsyawant
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supply and demand, people work in cities and they need a place to say so the prices are hiked up. |
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KrazyKyngeKorny
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Supply and demand. Most people prefer to live in the city, so there is far greater demand for those houses.
The price for any item is determined by how much someone will pay for it. |
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Scott T
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Because the city generally has more work, higher wages and is more in demand than the suburbs. |
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MM
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Your paying for living in a metropolitan area, shops, restaurants, night life |
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EQ
 |
That certainly isn't always the case, but city living often means better access to jobs (more employers, shorter commutes), cultural activities, nightlife, public transit (you might not need to have a car), restaurants, friends and dating, etc etc.
Housing stock may also be older with more "character" than the cheap housing developments they throw up in suburbs. |
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Justin H
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Simple supply and demand. There is a limited amount of space in the city and there is usually great demand for any available space. Also factor in the cost of overhead since most everything is more expensive in the city. |
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goldlust74
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close to amenities, work, entertainment etc. |
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omahaman1954
 |
Prices are generally determined by the supply of houses in contrast with the demand for them by people. Many things influence the demand for a home in an urban community, e.g., jobs, shopping, public services (utilities, public transportation, police and fire protection), among other things that contribute to a higher quality of life. The farm (or "Green Acres") - obviously not as many people run to live on a farm, despite the advantages in peace and quiet - serenity. In fact, most people have migrated away from agrarian, rural areas over the years. Perhaps because of a desire to attain upward mobility, and living on the farm costs an individual in his time, energy and money to grow his food, or in producing income. Hence, greater demand to live in an urban area where there is a limited amout of space for them -- making a market for owners of real estate in urban areas. |
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reshadow31
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Because the people with more money like to live in these places that provide more aminities and easier access to the life of the city dweller. |
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Mike
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It's not the houses that are more expensive, it's the land. You're paying for land that has a very limited supply with a very, very large demand. Therefore, the prices are exorbitantly high.
However, there are houses in suburban areas that have similar prices as those in cities. Yet, usually these suburban houses have much more space and much more land than their urban counterparts. |
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miztiffany
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Convenience |
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Rmprrmbouncer
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I wish I knew that one too...it sure doesn't make sense to me to know that even the markets are different from state to state...pretty absurd man! |
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