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meanolmrcloud posted:I’ve posted about cheap houses in Detroit in the doomsday thread, but it sure looks like everything rehabbable is being bought up, with everything else being left to absolute ruin. a quick look at the stats and yep, even in extraordinarily undesirable rustbelt cities surrounded by blight, homes have gone up on average by 28% in the last year. Then why not just demolish the bad house and put tomorrow's bad house in its place?
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Apr 22, 2022 19:36
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I’m seriously despondent over this poo poo. I *finally* scored a guillotine-qualifying (barely, not considering inflation over the past year) job and I’m able to afford rent  . I’m 38. I lived off of my house savings when the pandemic wrecked my career track. I’m not starting from zero but I didn’t even have quite 10% saved in 2020 before Covid kicked off. now I’m down to around 3% (against the low-end of the current market) saved, I missed the sweet low% lending that was available, and people/institutions are bidding over ask/waiving inspections to snag what’s available. so the game plan is….save aggressively for ten years as real estate continues to appreciate, lock in a 30 year mortgage, and then I’ll be almost 80 when it’s paid off? I have effectively zero retirement stashed away after starting my career in 2008 (pay cuts due to the financial crisis were fun fresh out of college). I got through college due to student loans (revamped in 2008 under Obama iirc, so mine were high% which also sucked). I paid those off by starting a business I ran on the weekends for the past decade while I climbed the ladder in my career track. all that poo poo got wrecked and/or rendered irrelevant in 2020. it’s since been made worse by how money was tossed around during the pandemic. why even bother trying anymore. which is it? save for retirement, save for a house, or (god-forbid) try meeting someone to start a family at my relatively advanced age. it feels absolutely hopeless.
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Apr 22, 2022 19:36
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skooma512 posted:Then why not just demolish the bad house and put tomorrow's bad house in its place? why do that when you could buy the property, sit on it while the taxes are low, and wait for the state to pay for the demolition because it's become a 'hazard'?
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Apr 22, 2022 19:37
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Cpt_Obvious posted:At this point I've gotten so many offers for my house I'm considering just countering with some insane number and seeing if they bite. if youre getting offere from investors they are offerring way under what the market will pay
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Apr 22, 2022 19:45
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19 o'clock posted:I’m seriously despondent over this poo poo. I *finally* scored a guillotine-qualifying (barely, not considering inflation over the past year) job and I’m able to afford rent yeah youre priced out of a home, save diligently for retirement and marry a high earner.
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Apr 22, 2022 19:49
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Ammanas posted:yeah youre priced out of a home, save diligently for retirement and marry a high earner. You say "retirement" like that'll ever be a real option for anybody currently under the age of like 60.
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Apr 22, 2022 19:52
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Ammanas posted:yeah youre priced out of a home, save diligently for retirement and marry a high earner. thing is: I’m an accountant. I took the CPA exam out of my own pocket because I thought it would be a good career move. the local bus service is offering the same bonus to new bus drivers as I would receive once I get my license at this job. interest rate hikes over the past two months wiped out ~$90k in buying power. what really sucks is not only knowing I’m too poor to afford a home but also being excessively skilled in articulating it in myriad forms of hard numbers.
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Apr 22, 2022 19:55
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The housing market lol
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Apr 22, 2022 19:56
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Kreeblah posted:You say "retirement" like that'll ever be a real option for anybody currently under the age of like 60. anybody currently under the age of 60 will come to know "retirement" as when they turn 55, are thus more of a drain on the fossil fuel mining operation camp they live in than an asset, and are to be publicly executed for entertainment.
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Apr 22, 2022 19:58
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Ammanas posted:yeah youre priced out of a home, save diligently for retirement and marry a high earner. that'd be my conclusion as well, save for retirement and focus on personal life, both are highly worthy goals on their own and can potentially lead you to home ownership/secure housing down the road (and give you greater flexibility) e: 19 o'clock posted:thing is: I’m an accountant. I took the CPA exam out of my own pocket because I thought it would be a good career move. that really sucks tbh I think this is an issue with a bunch of relatively "higher status" but low-ish pay white collar jobs at the moment, which have been used to taking advantage of stagnant wages and sense that they're something to be aspired to, and because they're "professional"/often were able to be at least partially remote/didn't suffer as much COVID-turnover have been slower to adapt than public-facing hourly service positions I might just be generalizing too much from my wife's experience trying to hire people for back office positions at a credit union, which has incredibly good benefits but is objectively underpaid (something she's not in a position to address atm, despite her efforts) - it's hard to sell people on the idea that a job is a "career" or keep talented people if [absent benefits] working at a literal car wash pays about the same LGD has issued a correction as of 20:21 on Apr 22, 2022 |
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Apr 22, 2022 20:02
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My condolences to anyone who thinks they'll ever be able to buy a home lol
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Apr 22, 2022 20:07
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Pepe Silvia Browne posted:anybody currently under the age of 60 will come to know "retirement" as when they turn 55, are thus more of a drain on the fossil fuel mining operation camp they live in than an asset, and are to be publicly executed for entertainment. IT professionals usually get put out to pasture once they hit their 40s, so I'll be "retired" in a few years, lol
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Apr 22, 2022 20:11
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Crazy to think that the US government at one point was so concerned about low home ownership rates that they bought 4 out of 5 homes and then sold it for a loss to middle class (mostly white) families. Versus them doing.....absolutely nothing today Think it's time to give Blackrock another tax cut
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Apr 22, 2022 20:17
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Lacrosse posted:IT professionals usually get put out to pasture once they hit their 40s, so I'll be "retired" in a few years, lol *chuckles* I'm in danger
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Apr 22, 2022 20:22
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Lacrosse posted:IT professionals usually get put out to pasture once they hit their 40s, so I'll be "retired" in a few years, lol Get a union job. For everyone else, https://www.naca.com
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Apr 22, 2022 20:28
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bi crimes posted:the appraisal district in Austin doubled my property's appraisal this year, lol. i thought i avoided getting owned after snagging a house last year, but no, i am still getting owned File your homestead exemption dummy. You'll still be owned, but at least it caps the rate at which you get... more owned?
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Apr 22, 2022 20:39
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TehSaurus posted:File your homestead exemption dummy. You'll still be owned, but at least it caps the rate at which you get... more owned? yeah but I bought a year ago and there’s a year long gap until homestead kicks in so I’m thoroughly owned
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Apr 22, 2022 20:43
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owning property in Austin means you should rent it out every time F1 is in town.
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Apr 22, 2022 20:48
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bi crimes posted:yeah but I bought a year ago and there’s a year long gap until homestead kicks in so I’m thoroughly owned Oh poo poo is that new? I think ours started at the purchase price Edit: Nevermind ours did start at the purchase price, but the year after was a negligible adjustment so maybe it was always like this  your money I guessAlso lmao the building valuation went up 30% last year which means my house made more money than I did last year what the gently caress TehSaurus has issued a correction as of 20:58 on Apr 22, 2022 |
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Apr 22, 2022 20:51
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Cool and good to move here during the pandemic and buy three houses and rent out two to pay for your own Also cool and good to evict people just so you can jack up the rent I'm ready for Year Zero
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Apr 22, 2022 21:04
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About a year ago I got a telemarketing call from some lady asking to buy my house. I said 'OK I'll take $900k". After a minute of 'checking' she said that was way too much. Looking at the price of my house today I would say I was ahead of the game. The offer would not be so unreasonable. Just a year ago.
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Apr 22, 2022 21:26
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19 o'clock posted:thing is: I’m an accountant. I took the CPA exam out of my own pocket because I thought it would be a good career move. that’s crazy. when we bought in 2018, we had a combined income of maaaybe 90k, but they could only use my wife’s credit because I’m a fuckup. we got approved for 150k, which was definitely enough at the time for a decent 1200sqft house in a medium neighborhood. I still have price alerts on for the area, and you have to go to worse neighborhoods for shittier houses that are probably not worth buying. I’m not sure we’ll ever be able to leave, even if our house did gain 80k in “value”.
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Apr 22, 2022 21:32
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I married into homeownership. I'm always laughing at the renter cucks.
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Apr 22, 2022 21:41
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meanolmrcloud posted:that’s crazy. when we bought in 2018, we had a combined income of maaaybe 90k, but they could only use my wife’s credit because I’m a fuckup. we got approved for 150k, which was definitely enough at the time for a decent 1200sqft house in a medium neighborhood. I still have price alerts on for the area, and you have to go to worse neighborhoods for shittier houses that are probably not worth buying. I’m looking at $300k condos boasting 600-900sqft right now and that needs some reconsideration on account of interest rates. it’s not very motivating.
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Apr 22, 2022 21:45
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LGD posted:that'd be my conclusion as well, save for retirement and focus on personal life, both are highly worthy goals on their own and can potentially lead you to home ownership/secure housing down the road (and give you greater flexibility) I see a lot of jobs that pay similar to mine but they all seem like actual work (or they're public-facing). at least at my job I can sit inside and gently caress off all day then go home without a broken back.
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Apr 22, 2022 21:51
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TenementFunster posted:nobody wants to live in bumfuck, especially when you're become accustomed to being a coastal yuppie what about the people moving to idaho
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Apr 22, 2022 21:51
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was catching up with old friends from my partner's master's degree cohort and she mentioned something offhand about how it's impossible for us millennial folks to buy homes now and then like half of them said "uh.... we just bought a house, actually" (what was unsaid was "with a ton of help from our rich parents") the class divide in grad school world is real. anyway, that was almost two years ago. they'd probably all be in the same boat with us today.
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Apr 22, 2022 21:53
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indigi posted:you still could by putting 5% down now and doing something else with the remainder Ha ha ha naw I bought in january and figured a house was as good a hedge against inflation as anything I paid 18% more than it was sold for 15 months prior
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Apr 22, 2022 21:56
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indigi posted:you still could by putting 5% down now and doing something else with the remainder Ha ha ha naw I bought in january and figured a house was as good a hedge against inflation as anything I paid 18% more than it was sold for 15 months prior
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Apr 22, 2022 21:56
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actionjackson posted:what about the people moving to idaho
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Apr 22, 2022 22:15
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actionjackson posted:what about the people moving to idaho not normal, only something prospective homeowners do when they’re extremely stressed
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Apr 22, 2022 22:26
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LGD posted:that'd be my conclusion as well, save for retirement and focus on personal life, both are highly worthy goals on their own and can potentially lead you to home ownership/secure housing down the road (and give you greater flexibility) it’s (obviously) weighing on me a bunch. my modest world got rocked by Covid and at mid-life I’m evaluating what to do and how I want to spend my remaining years. if I could have built something out of my career I’d feel better about it but as it stands I’m locked into renting. busy season hours + continuing professional education after hours + the general boring nature of the work just doesn’t feel worth it.
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Apr 22, 2022 22:29
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i got rejected for a trailer loan after my mortgage pre-approval was laughable for this town. paying more than half of my take home income in rent now to live above someone else’s garage, hooray!
Rauros has issued a correction as of 22:35 on Apr 22, 2022 |
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Apr 22, 2022 22:31
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Mr. Sharps posted:not normal, only something prospective homeowners do when they’re extremely stressed
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Apr 22, 2022 22:35
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Xaris posted:eh. i know a whole lot of california boomers who've packed up and sold their $80k 1980 tracthouse for million+ and moved out to like Coeur d'Alene and Sandpoint or even boise. not because they're stressed but because california has gotten too lib with banning plastic bags, CRT, and gays everywhere. and when they’re sick of the libs in boise theyll retire to a summer home in whitefish montana, a migration as timeless as the monarchs and sandhill cranes
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Apr 22, 2022 22:44
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TenementFunster posted:… richard spencer? rich techies moving to sun valley i mean
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Apr 22, 2022 23:02
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Animal-Mother posted:was catching up with old friends from my partner's master's degree cohort and she mentioned something offhand about how it's impossible for us millennial folks to buy homes now If someone gets substantial help from a parent to buy a house they are required to say "the house my parents helped buy" rather than "my house" whenever they bring it up. Sorry if this offends some spoiled people but that's the rules.
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Apr 22, 2022 23:03
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Xaris posted:eh. i know a whole lot of california boomers who've packed up and sold their $80k 1980 tracthouse for million+ and moved out to like Coeur d'Alene and Sandpoint or even boise. not because they're stressed but because california has gotten too lib with banning plastic bags, CRT, and gays everywhere. Man we've enough racist shitheads already, gently caress off
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Apr 22, 2022 23:09
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I hear Pittsburgh is cheap and affordable
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Apr 22, 2022 23:10
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We snuck in at 3.75% before Ukraine really started loving poo poo up and I'm still pissed we didn't get something last year. We were concerned by my fiances contract work history and got spooked by a house we looked at on a lark selling the day it was listed. The other day I saw jumbo loan rates were lower than conventional lmao The puget sound is loving wack If you're underpaid but have solid finances and maybe a dependent not generating income check to see if you have any Community Land Trusts in your area. They're income restricted permanently affordable houses with a lot of hoops to jump through but its a legit resource. The one in my area just builds new townhouses now https://www.villagegardenstownhomes.com/
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Apr 22, 2022 23:12
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