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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Jan 11, 2020 9:34:34 GMT -5
In my neck of the woods nothing has gone on the market that has my needs for less than $500,000 for a while now. It’s stressful. Last year probably around 10 properties sold that were closer to the budget I’m looking to spend. Since January tends to have the highest number of comparatively affordable houses go for sale in this area and there’s been nothing so far I’m not optimistic for the rest of the year. If things keep up I just may say f*** it and move further South...or further North...or a different state altogether. Few places are more ridiculously overpriced than Greater Boston.
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Post by RadcapRadsley on Jan 11, 2020 9:40:32 GMT -5
I'm frustrated by all these real estate investors. They buy up all the affordable housing, often with all cash offers, and then either flip it or turn it into a rental. It's the biggest reason for the lack of affordable housing in this country. I'd say it's more people who own property who then use zoning laws,enviromental laws,loopholes ,taking control of city council's,using legal loopholes etc to restrict the amount of property being built. If you can lower the supply the demand goes up and the people who already own get richer.
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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Jan 23, 2020 6:37:31 GMT -5
Anyone ever live across the street or right next to a cemetery?
I recently found a home that was selling at a great price for the area. Beyond that it’s been on the market for longer than usual and they just hacked $20,000 off the asking price.
I was wondering what gives. So I looked at the Google Street view and the only thing (in addition to the house needing some work) is it’s across from a cemetery.
I researched it a little and found that this has been shown to keep houses on the market longer (though it may sell for the asking price eventually).
If I had the money I’d absolutely snap that property up in a second.
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Kyn
Don Corleone
Posts: 1,623
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Post by Kyn on Jan 23, 2020 7:44:45 GMT -5
Sorry in advance; this is a soapbox subject of mine.
I grew up poor. Not in dire poverty, but (barely) afloat. Growing up like that, home ownership never enters your head as a possibility.
When I left school, I knew nothing about money, because we never had any. I knew nothing about things like investments, and long term saving. To me, budgeting was working out how to feed however many people you needed to with however much money you had. That was it.
Looking back now, I wish someone had sat me down in high school and said, "You're going to need somewhere to live if you get old." I think there's an assumed level of financial literacy that kids are expected to learn by exposure as they grow up, and kids in poverty don't have that. I wish it was part of the school curriculum to give everyone education around this in some way. Because if I'd known what I know now at 18, I'd probably own a house by now. At this point, I doubt I ever will.
Maybe that sounds stupid, but some people need someone to teach us this stuff.
Tldr: lack of youth education about real estate and personal finance contributes to intergenerational poverty, and as a result I don't think I'll ever be a homeowner.
(Vote Kyn in your next election.)
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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Jan 23, 2020 11:47:21 GMT -5
Sorry in advance; this is a soapbox subject of mine. I grew up poor. Not in dire poverty, but (barely) afloat. Growing up like that, home ownership never enters your head as a possibility. When I left school, I knew nothing about money, because we never had any. I knew nothing about things like investments, and long term saving. To me, budgeting was working out how to feed however many people you needed to with however much money you had. That was it. Looking back now, I wish someone had sat me down in high school and said, "You're going to need somewhere to live if you get old." I think there's an assumed level of financial literacy that kids are expected to learn by exposure as they grow up, and kids in poverty don't have that. I wish it was part of the school curriculum to give everyone education around this in some way. Because if I'd known what I know now at 18, I'd probably own a house by now. At this point, I doubt I ever will. Maybe that sounds stupid, but some people need someone to teach us this stuff. Tldr: lack of youth education about real estate and personal finance contributes to intergenerational poverty, and as a result I don't think I'll ever be a homeowner. (Vote Kyn in your next election.) I can relate way too much to this sadly. All of the family I still talk to still very much has this mindset too. As you’ve said though you’ve educated yourself and even though prospects look dim you at least have an outlook to be more financially responsible. This by itself is great step! But like you also pointed out if only we knew at 18, what we know now
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Jobes
Unicron
Posts: 3,199
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Post by Jobes on Jan 23, 2020 12:01:56 GMT -5
I am currently in the process of buying a house. It is stressful and exhausting.
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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Dec 24, 2020 7:52:57 GMT -5
I’m still a renter Or rather I adjusted my timeline a little to be more financially responsible and more in line with my general financial philosophy. So while I plan on buying not too far in the future I’ll have more breathing room and cushioning when I finally make the big purchase On a related note as a result of catching up with my 403(B) contributions today I got a cool $14.50 deposited in my back account
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Post by YAKMAN is ICHIBAN on Dec 24, 2020 9:21:59 GMT -5
Owned a condo in Chicago, one bedroom, needed to move due to impending child and took a bit of a haircut on it. I’d love to own again but that loss and needing a second car depleted my savings a bit too much. Now my wife is still job hunting in Michigan. Once we get her back to work maybe we could start saving for a down payment, but with student loan payments totaling 700 and daycare expenses that will be hard. But I’m in mid Michigan now and not Chicago so home prices will be more attainable! Like under 200k is totally doable for a decent house which is just impossible in Chicago. Currently paying 950 for a two bed townhouse with a basement! Was paying 1450 for a third floor three bed flat with no basement in Chicago and had downstairs neighbors. Updates: Well my wife found a job, after a year, this past September, so that should get us saving a bit more. We renewed our lease. Our lease expired in September but had an early renewal clause that let us renew it without a rent increase! So we renewed it for another year back in April. It’s a fantastic townhouse with all sorts of wildlife out back. We had a family of turkeys with us all summer and fall. Deer, geese, ducks. We even saw a family of sandhill cranes. Not in a rush to move.
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Post by KAMALARAMBO: BOOMSHAKALAKA!!! on Dec 24, 2020 10:40:08 GMT -5
Owned a condo in Chicago, one bedroom, needed to move due to impending child and took a bit of a haircut on it. I’d love to own again but that loss and needing a second car depleted my savings a bit too much. Now my wife is still job hunting in Michigan. Once we get her back to work maybe we could start saving for a down payment, but with student loan payments totaling 700 and daycare expenses that will be hard. But I’m in mid Michigan now and not Chicago so home prices will be more attainable! Like under 200k is totally doable for a decent house which is just impossible in Chicago. Currently paying 950 for a two bed townhouse with a basement! Was paying 1450 for a third floor three bed flat with no basement in Chicago and had downstairs neighbors. Updates: Well my wife found a job, after a year, this past September, so that should get us saving a bit more. We renewed our lease. Our lease expired in September but had an early renewal clause that let us renew it without a rent increase! So we renewed it for another year back in April. It’s a fantastic townhouse with all sorts of wildlife out back. We had a family of turkeys with us all summer and fall. Deer, geese, ducks. We even saw a family of sandhill cranes. Not in a rush to move. I was fortunate this year too in that my landlord decided not to increase the rent at all. I always pay on time or early and because I work in healthcare have actually been working more than usual. 2020 will be my highest paying year to date. It’s a shame so many folks are struggling with housing during the pandemic. I’m really fortunate there’s no rent increase. Literally the first time that’s ever happened to me. It’s not a bad place. It’s in a great location and priced great given the area. Just way too small especially given that I have a side hustle selling stuff online where extra space would really help. Plus, I’d love to start building up equity. I just don’t want to nuke the rest of my finances to pull it off
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