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probably the biggest assumption I see in that article is that they are just comparing median home purchase prices to median rental prices, which conveniently ignores that the median rental offering is probably an aging 800 sq foot apartment with the cheapest hardware the management can put in and pass code while the median offering for sale is like a 2000 sq foot thing with uPdAtEd sTaInLeSs StEeL aPpLiAnCeS. Im in the middle of closing on a 1150 sq foot townhome in Maryland that is still frankly palatial for my single no-kids no-pets having rear end, and it was literally only the second place for sale that size that I found in SIX MONTHS that wasnt a condo with a busted elevator, a manufactured house next to the chemical plant, or a rotting 100 year old heap with a broken oil furnace.
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Jun 12, 2023 16:39
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Justus posted:probably the biggest assumption I see in that article is that they are just comparing median home purchase prices to median rental prices, which conveniently ignores that the median rental offering is probably an aging 800 sq foot apartment with the cheapest hardware the management can put in and pass code while the median offering for sale is like a 2000 sq foot thing with uPdAtEd sTaInLeSs StEeL aPpLiAnCeS. Ah, you mean a New York Brownstone Style Walkup, A Flex-Use Single Family Detached Home, and An Eclectic Vintage Character House
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Jun 12, 2023 17:35
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bvj191jgl7bBsqF5m posted:So does that include building equity in the home or does it just take into account the cost of renting vs the mortgage cost for the same property It looks like they didn't include price appreciation, home equity, maintenance costs, or median utilities into the equation at all, just went durr monthly dollars
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Jun 12, 2023 17:47
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Justus posted:probably the biggest assumption I see in that article is that they are just comparing median home purchase prices to median rental prices, which conveniently ignores that the median rental offering is probably an aging 800 sq foot apartment with the cheapest hardware the management can put in and pass code while the median offering for sale is like a 2000 sq foot thing with uPdAtEd sTaInLeSs StEeL aPpLiAnCeS. that and the timeline. with a fix rate mortgage its gonna be the same 10, 20, 30 years from now, likely less as there will probably eventually be a good time to refinance, so the only thing that could really go up is property taxes. when I moved to this city the 700 sqft 1 bedroom apartment was around 650/mo, in a p cheap area. Exact same apartment is now 1200. Thats almost as much as our mortgage for the 2500 sqft house we got in 2014. By 2025 or so itll probably literally be more expensive than our house that could comfortably fit a family of 4.
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Jun 12, 2023 17:49
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My parents raised eight kids in 1200 square feet, people are soft nowadays
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Jun 12, 2023 17:55
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Justus posted:probably the biggest assumption I see in that article is that they are just comparing median home purchase prices to median rental prices, which conveniently ignores that the median rental offering is probably an aging 800 sq foot apartment with the cheapest hardware the management can put in and pass code while the median offering for sale is like a 2000 sq foot thing with uPdAtEd sTaInLeSs StEeL aPpLiAnCeS. Renting is cheaper if you take slum lording into account, says one article.
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Jun 12, 2023 19:53
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Pittsburgh Fentanyl Cloud posted:Another thing they're doing here is taking these rowhouses in old walkable neighborhoods and turning the entire first floor into a garage, because carbrain is terminal that seems so loving inconvenient bordering on impossible to use. maybe the streets that have rowhomes are wider in Pittsburgh or something but I can't imagine trying to pull into a hypothetical first floor garage in the neighborhood I grew up in or any of my family lived in, let alone having to back out in the morning the street I grew up on is not wide enough for a modern F250 to drive down unless nobody was parked on it lol. even in the 80s and 90s with smaller cars people's driver side mirrors were regularly getting bumped and dinged
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Jun 12, 2023 20:22
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indigi posted:that seems so loving inconvenient to use. maybe the streets that have rowhomes are wider in Pittsburgh or something but I can't imagine trying to pull into a hypothetical first floor garage in the neighborhood I grew up in or any of my family lived in, let alone having to back out in the morning Nobody uses a garage for parking vehicles anymore. Garages are just easily accessible ground level storage. Their crossovers probably dont fit, anyway.
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Jun 12, 2023 20:24
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that's what the basement is for!
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Jun 12, 2023 20:36
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indigi posted:that seems so loving inconvenient bordering on impossible to use. maybe the streets that have rowhomes are wider in Pittsburgh or something but I can't imagine trying to pull into a hypothetical first floor garage in the neighborhood I grew up in or any of my family lived in, let alone having to back out in the morning This particular street is wide enough  butttttt it's wide enough for plenty of on-street parking too, there's no fuckin reason to blow up an entire floor of living space for a car hole
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Jun 12, 2023 20:37
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yeah that's just a waste of house space. also they should make it a two lane road and have everyone do angle parking with protected bike path
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Jun 12, 2023 20:40
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indigi posted:that's what the basement is for! Edit: there's a street view pic from 2008 with the garage door open and there's clearly no basement. Nothus has issued a correction as of 20:51 on Jun 12, 2023 |
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Jun 12, 2023 20:47
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https://twitter.com/BusinessInsider/status/1668347059353669632?s=20
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Jun 13, 2023 00:32
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The Oldest Man posted:It looks like they didn't include price appreciation, home equity, maintenance costs, or median utilities into the equation at all, just went durr monthly dollars Eh, you might as well just roll it all together now for new buyers with these interest rates. The amortization schedule on something like a $300k loan at current rates is dire and you'll probably pay $100k in interest before you've even doubled your equity in the home. We're definitely at the point where anyone without a very large down payment who isn't planning on staying in their home for a very long time might legitimately spend less by renting. Not even remotely intended to be an argument in favor of renting, just saying that equity is a bad argument right now when a $350k home might legitimately end up costing you three-quarter million dollars, and you'll ultimately eat a lot of that interest in the years that you're waiting for a refi.
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Jun 13, 2023 00:38
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if he spent hundreds of thousands and took in $234k... is he operating at a loss still?
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Jun 13, 2023 02:52
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Paradoxish posted:Eh, you might as well just roll it all together now for new buyers with these interest rates. The amortization schedule on something like a $300k loan at current rates is dire and you'll probably pay $100k in interest before you've even doubled your equity in the home. We're definitely at the point where anyone without a very large down payment who isn't planning on staying in their home for a very long time might legitimately spend less by renting. avg rent increases at 8.8% nationally for the last 40 years means even if you ignore everything else the mortgage is still far better
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Jun 13, 2023 07:41
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thanks brandon
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Jun 13, 2023 15:59
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Nothus posted:https://twitter.com/zillowgonewild/status/1668000617485283333?s=20 the siding, roofs and steel? retaining structure look like they need a million dollars of work
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Jun 13, 2023 16:08
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for example  
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Jun 13, 2023 16:11
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Any weird-rear end ultra bespoke home like that basically requires you to be a millionaire to own and maintain it. The cost to buy might as well be irrelevant.
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Jun 13, 2023 16:12
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my guess is that steel support structure was added later which is not a good sign
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Jun 13, 2023 16:12
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its a very cool house tho for sure
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Jun 13, 2023 16:13
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Illinois in general, and Chicago specifically still seem affordable. ... Oh god why would anyone think that combination looks good?? Is this what the 70's felt like?  https://photos.zillowstatic.com/fp/5a7ca94844ebced0a9bc4dc87221cf73-uncropped_scaled_within_1536_1152.jpg
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Jun 13, 2023 19:05
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BIG Dog media
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Jun 13, 2023 23:31
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https://twitter.com/MarketWatch/status/1668771995457126400?s=20
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Jun 14, 2023 02:41
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Really enjoy headlines that don't work unless you pretend to not understand what "inflation" actually measures.
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Jun 14, 2023 02:43
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https://twitter.com/BusinessInsider/status/1667854029651689472?t=QjdpnlUlmX9LFUgQcfX70A&s=19 Did I say housing prices were going down? I meant they're continuing to go up.
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Jun 14, 2023 03:29
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literally every single drank lloyd write building is lovely they all have leaky roofs
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Jun 14, 2023 03:47
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i am harry posted:literally every single drank lloyd write building is lovely they all have leaky roofs that's most buildings eventually probably
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Jun 14, 2023 05:33
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Frank Lloyd wrong
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Jun 14, 2023 05:46
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indigi posted:Frank Lloyd wrong there it is
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Jun 14, 2023 06:08
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Frank Lloyd Wright was a tiny man who built houses with low ceilings to annoy tall people, and that rules
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Jun 14, 2023 06:08
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Pittsburgh Fentanyl Cloud posted:Frank Lloyd Wright was a tiny man who built houses with low ceilings to annoy tall people, and that rules Such brilliance...truly a magnificent man.
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Jun 14, 2023 10:45
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Pittsburgh Fentanyl Cloud posted:Frank Lloyd Wright was a tiny man who built houses with low ceilings to annoy tall people, and that rules lmao short people are so sad
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Jun 14, 2023 15:15
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indigi posted:Frank Lloyd wrong 
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Jun 14, 2023 15:19
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i am harry posted:lmao short people are so sad watch the ceiling, beanpole
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Jun 14, 2023 15:26
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DR FRASIER KRANG posted:if he spent hundreds of thousands and took in $234k... is he operating at a loss still? to buy two properties and be looking to break even or generate profit in a couple years is an incredible roi. the value of the properties will never go down thanks to number so if he gets bored or the airbnb market slows down he can sell for another profit thank you free money policy
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Jun 14, 2023 15:54
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i am harry posted:lmao short people are so sad I legit feel bad for any short (under 5'10) man
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Jun 14, 2023 16:16
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indigi posted:I legit feel bad for any short (under 5'10) man The average height for men in the US is 5'9"
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Jun 14, 2023 16:28
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indigi posted:I legit feel bad for any short (under 5'10) man
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Jun 14, 2023 18:20
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