Results of a poll at Seattle Bubble (27 Nov 2011):
If your household income were $100,000, how expensive a home would you be comfortable buying?
- Under $150k (2%, 7 Votes)
- $150k to $199k (10%, 33 Votes)
- $200k to $299k (33%, 111 Votes)
- $300k to $399k (36%, 120 Votes)
- $400k to $499k (12%, 41 Votes)
- $500k to $599k (4%, 13 Votes)
- $600k to $699k (1%, 4 Votes)
- $700k or above (2%, 5 Votes)
Hat-tip to Jeff Murdock, for pointing out this poll. Jeff adds “This from the country where you can lock in a mortgage at <4% for 30 years, and where your interest payments are tax deductible, and from the state with no state income tax.”
In Seattle, 69% of people would feel comfortable buying a house in the $200K to $399K range with a family income of $100K.
In Vancouver, family incomes average somewhere between $73K – $83K, and the average detached bungalow sells for $820K [RBC pdf].