Google to Drop Real Estate Listings
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Friday, January 28, 2011
Global Survey: U.S. Homes Are Most Affordable
United States real estate offers a lot of bang for your buck, according to a new survey that shows U.S. homes are the cheapest relative to incomes among English-speaking nations.
Australian homes — which have a median price of $454,000 — were found to be the most unaffordable among English-speaking nations, according to the report by consulting firm Demographia, which examined affordability in the third quarter of 2010. The median home in Australia costs 6.1 times the gross annual median household income. What’s more, 85 percent of the homes in Australia’s major cities were more than 5.1 times average income, according to the survey.
On the other hand, U.S. homes have a median home price of $168,000 and homes cost only three times yearly income or less
Australia has gone from being "the exemplar of modestly priced, high-quality middle-class housing, to now the most unaffordable housing market in the English-speaking world," the report noted. "Each of the least affordable markets were characterized by more restrictive land use regulation, which materially increases the price of land and makes housing less affordable."
The priciest city for real estate, in general: Hong Kong, with homes costing 11.4 times income. (The report considers any markets where home prices are 5.1 times household income or more very unaffordable.)
Prices in Hong Kong have increased by more than 50 percent in the past two years, due to low interest rates, an expanding economy, and buyers flooding in from China.
The United States boasted the most affordable major markets. Atlanta was the most affordable big city, in which the median home price is $129,000.
Meanwhile, the most unaffordable markets in the U.S. were mostly found in California: San Francisco (homes cost 7.2 times income), San Jose (6.7 times), San Diego (6.2 times), New York (6.1 times), and Los Angeles (5.9 times).
United States real estate offers a lot of bang for your buck, according to a new survey that shows U.S. homes are the cheapest relative to incomes among English-speaking nations.
Australian homes — which have a median price of $454,000 — were found to be the most unaffordable among English-speaking nations, according to the report by consulting firm Demographia, which examined affordability in the third quarter of 2010. The median home in Australia costs 6.1 times the gross annual median household income. What’s more, 85 percent of the homes in Australia’s major cities were more than 5.1 times average income, according to the survey.
On the other hand, U.S. homes have a median home price of $168,000 and homes cost only three times yearly income or less
Australia has gone from being "the exemplar of modestly priced, high-quality middle-class housing, to now the most unaffordable housing market in the English-speaking world," the report noted. "Each of the least affordable markets were characterized by more restrictive land use regulation, which materially increases the price of land and makes housing less affordable."
The priciest city for real estate, in general: Hong Kong, with homes costing 11.4 times income. (The report considers any markets where home prices are 5.1 times household income or more very unaffordable.)
Prices in Hong Kong have increased by more than 50 percent in the past two years, due to low interest rates, an expanding economy, and buyers flooding in from China.
The United States boasted the most affordable major markets. Atlanta was the most affordable big city, in which the median home price is $129,000.
Meanwhile, the most unaffordable markets in the U.S. were mostly found in California: San Francisco (homes cost 7.2 times income), San Jose (6.7 times), San Diego (6.2 times), New York (6.1 times), and Los Angeles (5.9 times).
Google to Drop Real Estate Listings
Google announced that it will drop real estate listings that real estate professionals upload to its classified site Google Base, as well as any for-sale, foreclosure, or rental properties through its search function on Google Maps.
The real estate listings at the site will discontinue by Feb. 10, 2011.
Google officials say they decided to stop featuring the real estate listings because of low usage and the popularity of other property-search tools on real estate Web sites. Google Base also is being replaced by Google Shopping APIs, which will not support real estate listings.
Google says visitors still will be able to be use Google to find real estate information and Web sites and explore neighborhoods through Google Street View.
"This does not come as a surprise to me,” Pete Flint, CEO of property search site Trulia, told Inman News. “Even with Google's huge audience, it shows having listing data is clearly not enough to deliver a good real estate search experience and build audience."
Google announced that it will drop real estate listings that real estate professionals upload to its classified site Google Base, as well as any for-sale, foreclosure, or rental properties through its search function on Google Maps.
The real estate listings at the site will discontinue by Feb. 10, 2011.
Google officials say they decided to stop featuring the real estate listings because of low usage and the popularity of other property-search tools on real estate Web sites. Google Base also is being replaced by Google Shopping APIs, which will not support real estate listings.
Google says visitors still will be able to be use Google to find real estate information and Web sites and explore neighborhoods through Google Street View.
"This does not come as a surprise to me,” Pete Flint, CEO of property search site Trulia, told Inman News. “Even with Google's huge audience, it shows having listing data is clearly not enough to deliver a good real estate search experience and build audience."
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About Me
- Ty Jakoblich- Realtor
- Waukesha, Southeastern WI, United States
- I am a life long resident of the Waukesha and Milwaukee county area. I have a goal set out to help as many families reach their real estate goals and dreams. Seasoned in all aspects of real estate including residential, commercial, multi-family, business opportunites and vacant lots. I am an Accredited Buyers Representative (ABR) A Accredited Staging Proffessional (ASP) A Shorewest Certified Relocation Specialist (SCRS) As well as a Short Sale and Foreclosure Representative (SFR) And as a Broker's Associate I have a higher knowledge and experience than your typical sales associate. Buying and Selling a home can be a very exciting time in many people's lives. I am here to make sure you reach your goals, and make sure the process is simple, quick and smooth, and most importantly FUN!