According to a recent report from the National Association of Realtors, in July the median price of a home in the United States was $182,600. With the economy still dragging, foreclosure numbers frighteningly high, and fears of a double-dip recession on everyone’s lips, MainStreet thought it might be interesting to see how much house can be bought around the country for roughly 10% less than the current median home price in the U.S. Unfortunately, 10% less than the $182,600 median isn’t enough to buy much of anything in major urban markets such as New York, Los Angeles and San Francisco. In Manhattan, 1/8 of a small one-bedroom suite in a Midtown tower runs $165,000; in Los Angeles, an über-petite 300-square-foot studio in West Hollywood currently has a price tag of $170,000. And in San Francisco, $169,000 buys a 21-day per year fractional ownership of a two-bedroom suite at the downtown Ritz-Carlton Club, or just a major fixer-upper near India Basin. The good news is that outside of the big cities, in second-tier and mid-sized cities, an honest to goodness family-sized house can be found for well under the median price of homes in the U.S. Photo Credit: Getty Images
Dubai has claimed its place as a new home to luxury and high-end lifestyles. Its housing market is no different. Here, MainStreet highlights several homes that make American mansions look like dollhouses.