Spokane, WA 2024 Cost of Living UPDATE | No Longer AFFORDABLE?

[@Haydnhalsted]

I did make a mistake in regards to capital gains - real estate is exempt from the additional 7% capital gains tax. These types of gains in our area aren’t as common.

[@1100cbrrider]

To think, I bought my new build in 2018 (Idaho) for $325,000 with about $14,000 down. 4 bdrms 2.5 bathrooms.

[@Haydnhalsted]

You scored! 2018 was the time to buy

[@lyndacompton1846]

Good information very interesting thank you

[@Haydnhalsted]

Glad you enjoyed it!

[@hayaa606]

american living in canada since '95 here.... im moving to spokane thanks to them having a branch for my construction company... i cant wait. everything here is so much cheaper up here.. and i can still stay within 2-5$ that im making here in canadian currency. im actually stoked. we gon be eating and livin good.

[@50whatnomadtravelnursemtb5]

Washington has inflated so high now and the pay has stalled. As a nurse looking to relocate back to my home state it may not be possible. Looking at VA jobs, the pay in Spokane is about the same as in say Texas, but in Texas buying a house is almost 1/2 the price? Why are houses so expensive in WA? Spokane hasn't been affordable for many many years now.

[@jorgeortiz4031]

Idk where in texas houses are 1/2 of 400k… As somebody leaving Texas to Spokane, hourly pay is not everything…

[@50whatnomadtravelnursemtb5]

@ just search in Huston or San Antonio….new homes for under 300k

[@stevegarland7643]

How come your not listed on the SpokaneMLS roster?

[@Haydnhalsted]

I’m happy to send you my MLS number if you email me! As far as I’m aware the monthly roster only shows new members and resigning members. I’m on the front page of their website though

[@MissBabalu102]

How old are you? In West Los Angeles, young people don't own homes. And how did you get a mortgage on a 1099 income. I have foreign earned income and it sadly prevents me from most mortgages.

[@Haydnhalsted]

The amazing thing about Spokane is if you get started early in your career, you can buy your first home in your mid 20’s. I’ve bought two properties in that time and still have both. I know some great mortgage professionals that were able to approve me after only one year of solid 1099 income. After that it’s not difficult to qualify on 1099 income if you pay taxes and set your business up correctly

[@MissBabalu102]

@@Haydnhalsted Amazing to me, in my 20s I was trained in RE trades, but the homes were just crazy expensive, same as now. Oh well, I shouldn't have returned to WLA at 21 years old. I cared for a Malibu home undergoing remodel and then foreclosure, I could have put in an affordable offer if someone had talked to me about anything at all at 22. Long ago. Either way, I'm about to watch your video on winter, I went to school in Wauwatosa WI and I hate the killer cold. Deal breaker.

[@BelindaBlacketer]

In order to live decently in Spokane and afford a median house, you have to earn $125K per year? Did I get that right? The average salary in Spokane is under $50K. The median household income in Spokane is under $70K. This is how out of touch, bordering on outright predatory, our real estate market is.

[@AshleySpeaks4U]

The Tampien brothers began flipping the city in 2014. Our prices skyrocketed.

[@this_epic_name]

Capital gains from real estate are excluded from WA's new capital gains tax.

[@Haydnhalsted]

You are correct, thank you for mentioning that!

[@Tyborg425]

2016 is the price I can afford in 2024….

[@Haydnhalsted]

I feel you