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Biden Housing

mcmurtry66

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Mar 14, 2019
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obviously some legal issues and while i don't like gov intervention 1) i think it's good biden's admin recognizes the importance of this issue as to me it is every bit as impt as the border etc and 2) biden's admin is right that the obstacles/regs of local govs are absolutely ridiculous. it's too much

people need to be able to afford homes. a starter home in a decent school district shouldn't cost $650k. a 3/3 in a good neighborhood well over a million. ridiculous
 
It might help if something was done about investors buying up houses (often over market value) and then turning around and getting people into overpriced leases because their purchases have pushed up market value for all nearby homes (making it harder to buy for normal people).
 
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Lot's of cheap, quality housing out there. Zoomers and millenials just want to live in and around major metros.

2000 square feet for 300K right here.

 
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Lot's of cheap, quality housing out there. Zoomers and millenials just want to live in and around major metros.

2000 square feet for 300K right here.

374k
3200 sq ft


cough
 
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Lot's of cheap, quality housing out there. Zoomers and millenials just want to live in and around major metros.

2000 square feet for 300K right here.

Are we rounding down?

$374k isn't considered cheap for those just starting out or not making 6 figures
 
Lot's of cheap, quality housing out there. Zoomers and millenials just want to live in and around major metros.

2000 square feet for 300K right here.

Work school etc make rural small town living untenable for many/most
 
Is the problem that young people can't afford to get on the property ladder? Or that they want to skip a few rungs?
It’s that starter homes in many communities have outpaced salaries and what people can afford. Obviously exacerbated by rates. But it impacts all levels as the percentage of income devoted to housing increases
 
I think the problem is the 1st rung is pretty high up the ladder to get something that isn't a fixer upper or a long commute.
As compared to what? Decades of government backed artificially low mortgage rates?

This is called a correction. And it’s really not even that much of a correction. Blame whoever thought it would be a good idea to create the federal reserve.
 
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As compared to what? Decades of government backed artificially low mortgage rates?

This is called a market correction. And it’s really not even that much of a correction. Blame the federal reserve.
No it’s not a market correction. It was artificial. It was a product of a number of factors: low supply, remote work, covid, corp/investors purchasing etc
 
Only 35 minutes to.....

How is that still open? The stories....
It’s that starter homes in many communities have outpaced salaries and what people can afford. Obviously exacerbated by rates. But it impacts all levels as the percentage of income devoted to housing increases
Basically free money for wayyyyyyyyyy too long. Kinda like why college costs so damn much as well.
 


The money is broken is the issue and young people are getting f#cked. It is more difficult today.
It is more difficult than it was 20 years ago too. I built my first home as a 25 year old in 2004 for $110,000 with a salary of about $42k. That was for a 3 bedroom, 2 bath 1250 Sq foot home in Noblesville. Adjusted for inflation that would be a $180K home on a $68k salary. I am here to tell you that same job is supposedly now starting at $58k. I had been in my job 4 years so you would have to average $2500/yr in wage increases to be equal to what I was salary wise. Which is maybe doable. However that same house last sold for $265k in 2022.

That's an over 40% increase over regular inflation. That is hard.

That being said, people don't want the feds involved because "affordable housing" has become a synonym for "buckle up for crime and deterioration" coming to a neighborhood near you.
 
It is more difficult than it was 20 years ago too. I built my first home as a 25 year old in 2004 for $110,000 with a salary of about $42k. That was for a 3 bedroom, 2 bath 1250 Sq foot home in Noblesville. Adjusted for inflation that would be a $180K home on a $68k salary. I am here to tell you that same job is supposedly now starting at $58k. I had been in my job 4 years so you would have to average $2500/yr in wage increases to be equal to what I was salary wise. Which is maybe doable. However that same house last sold for $265k in 2022.

That's an over 40% increase over regular inflation. That is hard.

That being said, people don't want the feds involved because "affordable housing" has become a synonym for "buckle up for crime and deterioration" coming to a neighborhood near you.
I built my Indiana home 6-7 yrs ago. I borrowed $29,000 from my 401K (yea that was stoopid, buuut), then cash flowed ~ another $$15 -$20k. I bought a 5 acre lot in the country-ish, 40 min from Indianapolis airport for $8k. It's 2,500 sq ft. Built it all myself, of evening and weekends. It appraised for $290k 3 yrs ago.
There are ways......... But people need to be creative, not cookie cutter.
 
I built my Indiana home 6-7 yrs ago. I borrowed $29,000 from my 401K (yea that was stoopid, buuut), then cash flowed ~ another $$15 -$20k. I bought a 5 acre lot in the country-ish, 40 min from Indianapolis airport for $8k. It's 2,500 sq ft. Built it all myself, of evening and weekends. It appraised for $290k 3 yrs ago.
There are ways......... But people need to be creative, not cookie cutter.
I read this and think “is there anything the dream team can’t do?” Wow.
 
in 2004 for $110,000 with a salary of about $42k.
Fellow insurance adjuster bro?
That being said, people don't want the feds involved because "affordable housing" has become a synonym for "buckle up for crime and deterioration" coming to a neighborhood near you.
Really tests my wife's liberal bonafides with all the, as she calls it, "multi family housing" going in around our fair Carmel.

I, of course, call her on it.
 
I built my Indiana home 6-7 yrs ago. I borrowed $29,000 from my 401K (yea that was stoopid, buuut), then cash flowed ~ another $$15 -$20k. I bought a 5 acre lot in the country-ish, 40 min from Indianapolis airport for $8k. It's 2,500 sq ft. Built it all myself, of evening and weekends. It appraised for $290k 3 yrs ago.
There are ways......... But people need to be creative, not cookie cutter.
Yeah but when you say built it yourself, I assume you mean you actually drove the nails and screws and if we are being realistic, not all of us are that handy.
 
Fellow insurance adjuster bro?

Really tests my wife's liberal bonafides with all the, as she calls it, "multi family housing" going in around our fair Carmel.

I, of course, call her on it.
That Carmel must be some place. Hope I live long enough to see it one day
 
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Yeah but when you say built it yourself, I assume you mean you actually drove the nails and screws and if we are being realistic, not all of us are that handy.
That's why I didn't say "I hired some one to build it".
Of course not many are today, by themselves. BUT if ppl would get a little creative, they too can find a way. I believe in it, but it's up to the people.
 
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obviously some legal issues and while i don't like gov intervention 1) i think it's good biden's admin recognizes the importance of this issue as to me it is every bit as impt as the border etc and 2) biden's admin is right that the obstacles/regs of local govs are absolutely ridiculous. it's too much

people need to be able to afford homes. a starter home in a decent school district shouldn't cost $650k. a 3/3 in a good neighborhood well over a million. ridiculous
This is one area where I feel fairly fortunate. When I sell my house in another year and a half or so, I should make a fairly good amount on it. I'm going to be significantly downsizing, so even if I slightly overspend on a decent condo/townhome, I still should come out ahead.

That said, I'm not yet certain where that will be. Finding a fully remote job would be ideal so I can take my time selling and figuring out where I want to be.
 
This is one area where I feel fairly fortunate. When I sell my house in another year and a half or so, I should make a fairly good amount on it. I'm going to be significantly downsizing, so even if I slightly overspend on a decent condo/townhome, I still should come out ahead.

That said, I'm not yet certain will that will be. Finding a fully remote job would be ideal so I can take my time selling and figuring out where I want to be.
Yeah I think you will do well if downsizing.
 
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Can't wait. I wanna be mobile.

"Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner."

-Neil McCauley
That's kind of my line of thinking too. My daugther graduates high school in May 2025, which means I'm going to be getting rid of a ton of crap over the next year and a half or so.

My goal is to live relatively sparsely by getting rid of A LOT of stuff before the big move
 
Can't wait. I wanna be mobile.

"Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner."

-Neil McCauley
Lucky bastard. I’m stuck for 15 more years. Let that sink in. And if this deal goes through I really won’t have to work. So I’ll be stuck with almost nothing to do and not really able to travel much. For 15 years
 
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Lucky bastard. I’m stuck for 15 more years. Let that sink in. And if this deal goes through I really won’t have to work. So I’ll be stuck with almost nothing to do and not really able to travel much
Outside of the part about not having to work, I often think of your situation and when I'm done.....I do this:

200w.gif
 
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