How High Is Too High?

[Robert Mendenhall]

Greeting BP,

Curious to hear some general thoughts on how high is to high for home prices. Im looking in the Westerville area of Columbus and some duplexes are going for 400k. How realistic is it to expect much appreciation on a property that high already? With rents as well in the $1500+ range how high is too high before people just cant afford it in Columbus? I know Intel is expected to bring wage growth but can we really rely on that as fact? Even so, how much could that really impact?

[Marc Rice]

Quote from @Robert Mendenhall:

Greeting BP,

Curious to hear some general thoughts on how high is to high for home prices. Im looking in the Westerville area of Columbus and some duplexes are going for 400k. How realistic is it to expect much appreciation on a property that high already? With rents as well in the $1500+ range how high is too high before people just cant afford it in Columbus? I know Intel is expected to bring wage growth but can we really rely on that as fact? Even so, how much could that really impact?

 That's all relative. In 1980 a $20k duplex sounded expensive. 

Columbus is a solid city that has a rapidly growing population. Everyone is flocking here, including other realtors who realize they missed the boat. All indicators point towards upwards growth. It's a diversified economy, the capital, great education systems, etc.