Biden Housing

[mcmurtry66]

https://www.nytimes.com/2024/03/21/us/politics/biden-housing-costs.html#:~:text=Publicly%2C%20Mr.%20Biden%20has%20seized,credits%20for%20people%20buying%20homes.

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

 

[IU_Hickory]

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).

 

[NewGuyToTheBoard]

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.

4678 Indigo Blue Blvd, Whitestown, IN 46075 | MLS #21943672 | Zillow

This 3252 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 4678 Indigo Blue Blvd, Whitestown, IN.

www.zillow.com

 

[larsIU]

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.

4678 Indigo Blue Blvd, Whitestown, IN 46075 | MLS #21943672 | Zillow

This 3252 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 4678 Indigo Blue Blvd, Whitestown, IN.

www.zillow.com

374k
3200 sq ft


cough

 

[IU_Hickory]

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.

4678 Indigo Blue Blvd, Whitestown, IN 46075 | MLS #21943672 | Zillow

This 3252 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 4678 Indigo Blue Blvd, Whitestown, IN.

www.zillow.com

Are we rounding down?

$374k isn't considered cheap for those just starting out or not making 6 figures

 

[larsIU]

Are we rounding down?

$374k isn't considering cheap for those just starting out or not making 6 figures

I think he linked the wrong one.

6206 Colonial Dr, Whitestown, IN 46075 | MLS #21968484 | Zillow

This 1956 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 6206 Colonial Dr, Whitestown, IN.

www.zillow.com

 

[mcmurtry66]

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.

4678 Indigo Blue Blvd, Whitestown, IN 46075 | MLS #21943672 | Zillow

This 3252 square feet Single Family home has 3 bedrooms and 3 bathrooms. It is located at 4678 Indigo Blue Blvd, Whitestown, IN.

www.zillow.com

Work school etc make rural small town living untenable for many/most

 

[NewGuyToTheBoard]

Work school etc make rural small town living untenable for many/most

What's that house? 20 minutes from Indy?

 

[mcmurtry66]

What's that house? 20 minutes from Indy?

I have no idea. I do know that Indiana isn’t really representative as it’s pretty damn cheap comparatively

 

[larsIU]

What's that house? 20 minutes from Indy?

With traffic you're 45 mins from downtown Indy. 20 minutes from teh northside. Westfield and Carmel on on the way there.

Mcm's rpobably right. Indiana is dirt cheap and probably scraping the bottom of where most millenials want to live. At least it's not MS or Kentucky

 

[snarlcakes]

Work school etc make rural small town living untenable for many/most

Whitestown isn’t rural living. It’s basically Zionsville. It’s a nice area.

 

[NewGuyToTheBoard]

Is the problem that young people can't afford to get on the property ladder? Or that they want to skip a few rungs?

 

[IU_Hickory]

Is the problem that young people can't afford to get on the property ladder? Or that they want to skip a few rungs?

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.

 

[Joe_Hoopsier]

Whitestown isn’t rural living. It’s basically Zionsville. It’s a nice area.

Only 35 minutes to.....

Brad's Brass Flamingo - Indianapolis, IN 46203

YP.com local search connects you with over 19 million local businesses. Find people and find the right business and get things done! YP, the new way to do, aka Yellow Pages.

www.yellowpages.com

 

[mcmurtry66]

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

 

[NewGuyToTheBoard]

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.

 

[mcmurtry66]

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

 

[larsIU]

Only 35 minutes to.....

Brad's Brass Flamingo - Indianapolis, IN 46203

YP.com local search connects you with over 19 million local businesses. Find people and find the right business and get things done! YP, the new way to do, aka Yellow Pages.

www.yellowpages.com

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.

 

[NewGuyToTheBoard]

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

A correction, not a market correction. There's no such thing as low supply in a free market.

 

[snarlcakes]

Is the problem that young people can't afford to get on the property ladder? Or that they want to skip a few rungs?

The money is broken is the issue and young people are getting f#cked. It is more difficult today.

 

[IUCrazy2]

View embedded media

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.

 

[Joe_Hoopsier]

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.

 

[mcmurtry66]

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.

 

[Joe_Hoopsier]

I read this and think “is there anything the dream team can’t do?” Wow.

Other than stay married, nothing else comes to mind.

 

[larsIU]

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.

 

[IUCrazy2]

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.

 

[IUCrazy2]

Fellow insurance adjuster bro?

Lol, yes. Not anymore though.

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 think people tend to get really conservative about their backyard. Well, many people do.

 

[mcmurtry66]

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

 

[Joe_Hoopsier]

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.

 

[Ohio Guy]

https://www.nytimes.com/2024/03/21/us/politics/biden-housing-costs.html#:~:text=Publicly%2C%20Mr.%20Biden%20has%20seized,credits%20for%20people%20buying%20homes.

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.

 

[mcmurtry66]

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.

 

[larsIU]

Yeah I think you will do well if downsizing.

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

 

[Ohio Guy]

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

 

[mcmurtry66]

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

 

[Univee2]

I read this and think “is there anything the dream team can’t do?” Wow.

Can’t vote for Joe Biden . . .

 

[larsIU]

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:

 

[Univee2]

Outside of the part about not having to work, I often think of your situation and when I'm done.....I do this:

$30.00 fine.

I hate Coal-bert.

 

[larsIU]

$30.00 fine.

I hate Coal-bert.

 

[BradStevens]

I read this and think “is there anything the dream team can’t do?” Wow.

Stay off the banned list?

 

[BradStevens]

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.

Shhhhhhhhhhh!!!!!!