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Ammanas posted:nah combined 200k gets you a modest to nice home with a plot in almost every metro besides really big ones (LA, bay area, NY, etc), gets you a palace in most places, and a pretty nice condo or apartment in high demand locales. As recently as the mid 2010s, sure. Now that’s barely true even in the like 10th tier city that I live in.
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Feb 9, 2023 21:56
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Kreeblah posted:I love the shot of the back of the weird makeshift closet thing (I think?) in the photo of the pink room. who wouldn't want to buy this 
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Feb 9, 2023 22:38
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Thoguh posted:As recently as the mid 2010s, sure. Now that’s barely true even in the like 10th tier city that I live in. don't be loving stupid. i survive on 25k/year in austin. my friends making 100k+ all own their own homes and have infinite money. one making 150k flies to park city once a month in winter and then new zealand in summer. they treat bourbon like an investment vehicle and have all lost mid-five figs on crypto
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Feb 9, 2023 22:40
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i say swears online posted:don't be loving stupid. i survive on 25k/year in austin. my friends making 100k+ all own their own homes and have infinite money. one making 150k flies to park city once a month in winter and then new zealand in summer. they treat bourbon like an investment vehicle and have all lost mid-five figs on crypto you know that people with high paying jobs often come from places of existing privilege right
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Feb 9, 2023 22:41
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anime was right posted:you know that people with high paying jobs often come from places of existing privilege right duh? i'm not sure i know anyone making 400k/year that didn't
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Feb 9, 2023 22:42
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i say swears online posted:property taxes rule, but they should be massively more progressive. i like graduated sqft tax rates It’s very hard to find a well laid out house around 2k square feet or less here in my medium-sized Southern city. You either have sub-2k shotgun shacks or 3k+ McMansions. Some of the historic homes downtown are reasonably sized but they’re quite expensive.
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Feb 9, 2023 22:59
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ProperGanderPusher posted:It’s very hard to find a well laid out house around 2k square feet or less here in my medium-sized Southern city. You either have sub-2k shotgun shacks or 3k+ McMansions. Some of the historic homes downtown are reasonably sized but they’re quite expensive. i've noticed this too. lots of choices in my city are either 800sqft or 3400 sqft
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Feb 9, 2023 23:00
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when I was doing family research I found out that my immigrant great grandfather bought a three story house in Philadelphia in 1908 for $1000 and on the 1910 census he reported that his current job paid $1200 a year I can't even imagine having a job that paid 20% more per year than a big rear end house in a major metropolitan area cost. lol. using my childhood home's current value - a piddly two stories - I'd have to make 315k/year
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Feb 9, 2023 23:03
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i say swears online posted:don't be loving stupid. dont tell me what to do!
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Feb 9, 2023 23:12
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Thoguh posted:As recently as the mid 2010s, sure. Now that’s barely true even in the like 10th tier city that I live in. where do you live and what do single family homes sell for there?
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Feb 9, 2023 23:57
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External Organs posted:Rutland is the Appalachia of Vermont so I say go for it I'm gonna. anime was right posted:do you like heroin Are you saying Rutland is a good place for u kno what? Paradoxish posted:Massive visible wall cracks in every single photo only slightly sus i say swears online posted:who wouldn't want to buy this Kreeblah posted:I love the shot of the back of the weird makeshift closet thing (I think?) in the photo of the pink room. Eason the Fifth posted:this house was built the year before Billy the Kid was shot and killed outside Fort Sumner. Exactly, that house has history! And probably people living in the walls.
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Feb 10, 2023 00:18
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i say swears online posted:don't be loving stupid. i survive on 25k/year in austin. my friends making 100k+ all own their own homes and have infinite money. one making 150k flies to park city once a month in winter and then new zealand in summer. they treat bourbon like an investment vehicle and have all lost mid-five figs on crypto do any of them have kids
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Feb 10, 2023 00:43
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my conservative estimate is children coast $450,000 a year each
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Feb 10, 2023 00:44
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mastershakeman posted:do any of them have kids yeah one friend has 2 with a third on the way. he works at apple, wife is a reduced-hours doctor, so two incomes totalling maybe 300k. they complain about childcare costs but own two rental homes they bought recently and just plowed like 100k on a two-story deck in their backyard
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Feb 10, 2023 02:30
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See how many all-cash buyers snagged houses in your neighborhood The lookup tool isn't working for the archived story; does anyone have a direct link?
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Feb 10, 2023 02:42
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Failson posted:Are you saying Rutland is a good place for u kno what? yes its a great place to get your poo poo jacked bc its on the addict corridor
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Feb 10, 2023 02:49
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anime was right posted:yes its a great place to get your poo poo jacked bc its on the addict corridor the burlington to bennington heroin highway
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Feb 10, 2023 02:54
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i think brattleboro is worse though?/ maybe
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Feb 10, 2023 02:56
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i say swears online posted:yeah one friend has 2 with a third on the way. he works at apple, wife is a reduced-hours doctor, so two incomes totalling maybe 300k. they complain about childcare costs but own two rental homes they bought recently and just plowed like 100k on a two-story deck in their backyard lol i suspect you're just guessing at these incomes or completely ignoring their family's contributions
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Feb 10, 2023 03:23
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i'm definitely using pre-tax numbers but i'm not far off. most everyone's on the wrong side of 40 now so they've had some time to save, and the older ones did buy their first houses in like 2011 when the market was okay
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Feb 10, 2023 03:41
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i say swears online posted:yeah one friend has 2 with a third on the way. he works at apple, wife is a reduced-hours doctor, so two incomes totalling maybe 300k. they complain about childcare costs but own two rental homes they bought recently and just plowed like 100k on a two-story deck in their backyard Your friend is making 350,000 and the wife is making another 250,000.
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Feb 10, 2023 03:43
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plz don't make me cry
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Feb 10, 2023 03:43
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Salt Fish posted:Your friend is making 350,000 and the wife is making another 250,000. easily, with the wife probably making even more if "part-time" means moonlighting/non-contract work also with that income and that many kids i'm guessing their primary residence is close to a cool mil, if not more (austin average pricing appears to be ~$600k)
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Feb 10, 2023 03:51
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after the deck remodel they'd probably get 700k. they're in kyle, a far-flung 'burb my job this summer was austin-area property appraisals and it's hard not to do the eyepop emoji irl every day edit i think i'm just miffed they own two rental properties?? both probably total 5% of their gross income, i don't know why they even bother
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Feb 10, 2023 03:56
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lol rents are heading back up where I am.
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Feb 10, 2023 03:58
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i say swears online posted:edit i think i'm just miffed they own two rental properties?? both probably total 5% of their gross income, i don't know why they even bother retirement plan maybe? but yeah odd for a doctor - those types typically aren't interested in retiring, especially early retirement
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Feb 10, 2023 04:11
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Minecraft Holmes posted:retirement plan maybe? COVID's still obliterating healthcare employees' morale. It's been hitting nursing staff harder than doctors, but even some doctors are throwing in the towel. I really would't be surprised if we do start seeing a lot more doctors retiring early at some point.
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Feb 10, 2023 04:16
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https://www.ajc.com/american-dream/investor-owned-houses-atlanta/ the same ghouls who destroyed the world economy and ruined innumberable lives in 2008 are now locking 2 generations out of housihg security and equity Ammanas has issued a correction as of 14:52 on Feb 10, 2023 |
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Feb 10, 2023 14:50
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Kreeblah posted:COVID's still obliterating healthcare employees' morale. It's been hitting nursing staff harder than doctors, but even some doctors are throwing in the towel. I really would't be surprised if we do start seeing a lot more doctors retiring early at some point. All the healthcare workers I still talk to are huge on the FIRE thing, getting in on rental properties is totally unsurprising. Physicians still make a ton of money but it’s a far cry from the living their professors/parents enjoyed. Mid level encroachment, reduced/stagnant wages in the face of increasing workload, administrative bullshit, private equity purchasing physician partnerships, etc
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Feb 10, 2023 15:01
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Failson posted:Exactly, that house has history! And probably people living in the walls. Test that peeling paint for lead
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Feb 10, 2023 15:07
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Ammanas posted:https://www.ajc.com/american-dream/investor-owned-houses-atlanta/ Atlanta was ground zero for this poo poo, there were articles in 2011-2012 about these investors in the Atlanta suburbs using software to evaluate houses and place automatic offers on them before normal buyers could look at them.
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Feb 10, 2023 15:27
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Ammanas posted:https://www.ajc.com/american-dream/investor-owned-houses-atlanta/ non-paywalled quote:Companies also tout their ability to push rent and fees higher and higher, even as they market themselves as providers of affordable housing. Founded by Blackstone Group, a private equity giant, Invitation Homes raised its average rent in the Atlanta market 37% from $1,336 in 2016 to $1,836 today, according to public filings. It raised rent 11% in 2022 alone.
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Feb 10, 2023 15:50
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"but we are also very clear that renting is more affordable than buying in many markets.” gee i wonder why house prices have skyrocketed
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Feb 10, 2023 16:43
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BIG-DICK-BUTT-gently caress posted:All the healthcare workers I still talk to are huge on the FIRE thing, getting in on rental properties is totally unsurprising. Physicians still make a ton of money but it’s a far cry from the living their professors/parents enjoyed. A lot of the FIRE folks I've ever seen are loving psychos (I mean, I get not wanting to be forced to sell your labor, but some of these people's brains are seriously broken), so if medical folks are getting into it, I guess that tracks. Willa Rogers posted:non-paywalled Huh. I wonder why that could be. 
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Feb 10, 2023 18:20
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FIRE stuff will absolutely break your brain if it isn't already severely broken. You need to be making an obscene amount of money (or get down to a truly ascetic lifestyle) for it to be viable without doing actively scummy real estate poo poo like flipping houses or becoming a landlord/vacation rental moron. My experience with a handful of people making low six-figgies is that they tend to get progressively more hosed up and chase more ridiculous schemes as they get into their late 30s and realize that they're way too poor to make this happen. We know a couple that almost permanently ruined their finances trying to fix up a decaying shithole to turn it into a rental. A lot of these people are going to get even more hosed up as super high prices and rates make "passive" real estate income even more unattainable.
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Feb 10, 2023 18:29
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Paradoxish posted:FIRE stuff will absolutely break your brain if it isn't already severely broken. You need to be making an obscene amount of money (or get down to a truly ascetic lifestyle) for it to be viable without doing actively scummy real estate poo poo like flipping houses or becoming a landlord/vacation rental moron. The guys selling the shovels here are definitely making out though, makes you think.
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Feb 10, 2023 18:33
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Paradoxish posted:. We know a couple that almost permanently ruined their finances trying to fix up a decaying shithole to turn it into a rental. I don’t think people get that sometimes to fix serious house stuff it might be 50,000 to 100,000 out of pocket in cash. and even knowing that and even having the cash ready to go for it, it’ll still gently caress your poo poo right up more than one is expecting.
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Feb 10, 2023 19:00
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Bar Ran Dun posted:I don’t think people get that sometimes to fix serious house stuff it might be 50,000 to 100,000 out of pocket in cash. and even knowing that and even having the cash ready to go for it, it’ll still gently caress your poo poo right up more than one is expecting. But HGTV makes it look so easy!
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Feb 10, 2023 19:11
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Eh it's only worth it if you get the house for practically free. When I was house hunting in the open market the full rehabs were like $70-95K. I havent spent that much yet on my $4K house and I'm getting 100% all new poo poo.
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Feb 10, 2023 19:47
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War and Pieces posted:Eh it's only worth it if you get the house for practically free. When I was house hunting in the open market the full rehabs were like $70-95K. I havent spent that much yet on my $4K house and I'm getting 100% all new poo poo. siding and windows runs about 50k for a 1500-2k sqft house. my mom just started renting her dad's old house (built in the 60s!! not that old!) from the rest of the family, her heating bills are enormous, and no one wants to fix the property up because of the up front cost
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Feb 10, 2023 20:22
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