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General Category => Discover Seattle! => Topic started by: Sportsdude on Aug 13 07 04:17

Title: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 04:17
 1. Los Angeles
Median home price: $589,900
 Median household income: $58,319
 Recent affordable home sales: 3%

2. San Francisco
Median home price: $748,100
 Median household income: $79,676
 Recent affordable home sales: 6.7%

3. San Diego
Median home price: $549,200
 Median household income: $66,178
 Recent affordable home sales: 9.4%

4. New York
Median home price: $463,700
 Median household income: $67,419
 Recent affordable home sales: 6%

5. Miami, Florida
Median home price: $385,300
 Median household income: $50,173
 Recent affordable home sales: 10%

6. Sacramento, California
 Median home price: $365,500
 Median household income: $63,750
 Recent affordable home sales: 13.4%

7. Las Vegas, Nevada
Median home price: $310,100
 Median household income: $56,886
 Recent affordable home sales: 18.9%

8. Seattle, Washington
Median home price: $387,400
 Median household income: $76,104
 Recent affordable home sales: 28.3%

9. Boston, Mass
Median home price: $387,400
 Median household income: $76,104
 Recent affordable home sales: 28.3%

10. Orlando, Florida
Median home price: $267,000
 Median household income: $51,806
 Recent affordable home sales: 26.1%

[a href="http://www.forbes.com/home/media/2007/07/20/unaffordable-housing-property-forbeslife-cx_mw_0723realestate.html"]http://www.forbes.com/home/media/2007/07/20/unaffordable-housing-property-forbeslife-cx_mw_0723realestate.html[/a]


LOL!!!!!!!!!!!!!
Sacramento!!! You've got to be kidding. How in the world is that place up on this list.
   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 04:49
What's wrong with Sacramento ?  I thought it was quite beautiful.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: lazy Marik on Aug 13 07 05:23
If Vancouver was on that list (I know it's an American list), where would it be?  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 05:32
 average house in Vancouver (city) $503,141
average median income $51,268

2005 stats
[a href="http://www.straight.com/article/the-promise-of-communal-living?#"]http://www.straight.com/article/the-promise-of-communal-living?#[/a]

So put that in american money

476,639
48,563

thus confirms the fact that you need to be well off to own a home. Because the average income can't afford a home.

Meanwhile the BC Liberals give tax breaks to the rich.  
I know its the west coast but that figure in american money is appauling.

Its Sacramento.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 13 07 06:28

 
Many people were priced out in the SF Bay Area so they buy homes in Sacramento....I know of several people who do the 1.5 hr (one way) commute to the Bay Area daily and several who stay with relatives weekdays and return to families for weekends
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 06:45
ah that makes sense. (not the commute though)  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 13 07 07:03
compare to Canada, owning a home in the US is such a bargain..........when doing income taxes you get to write off  property taxes and mortgage interest against your income..........and up to $500,000 (for married couple) capital gains tax free when you sell.

            LOL!

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Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 07:16
Honestly for me, I'm not a house person. All they seem to become is one huge storage unit. You buy a house  and then you have to fill it. If I had a house I'd like the UK/Europe style terraced homes if I wanted a home.  You  would still get your garden in the back but at the same time governments save space decrease sprawl.

(http://emiliewood.com/photos/february2005/23-feb-05-colours2.jpg)

 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 13 07 07:22
I see you haven't visited San Francisco.........that's how some neighborhoods are built
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 07:35
yup. We need to build more homes like that.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 07:46
Speaking of affordable homes. IKEA is in the home building business.

(http://image.guardian.co.uk/sys-images/Business/Pix/pictures/2006/12/01/ikea372.jpg)
[a href="http://business.guardian.co.uk/story/0,,1961670,00.html"]http://business.guardian.co.uk/story/0,,1961670,00.html[/a]

[a href="http://www.boklok.com/"]http://www.boklok.com/[/a]

AWESOME.

 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 08:26
Aaaa...yea.  Welcome to my shoebox.....make yourself comfy.  

  SD....that's a mighty big contrast to a log cabin or A-frame you were so fond of a short time ago.

  You couldn't GIVE me one of those places.....with free utilities and lifetime groceries.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 08:38
its affordable housing for the masses. People can't afford homes anymore. As I mentioned earlier if you make the median Vancouver average salary 50k. You can't afford a home.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 08:50
(http://static3.bareka.com/photos/medium/349210/kopenhagenstraat.jpg)
another good example. this is in Eastern Holland
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 08:52
Barracks.  Good is not a term I would use for this 'style' of housing.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 08:54
So, you don't like these either?

(http://www.city-data.com/cpicc/cfiles5487.jpg)

Those are they same thing.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 09:13
Oh no they're not.  

  They have style and warmth.  If you're comparing boxes to those......well, I don't know what to say.

  The 'lifestyle' may be somewhat the same.  But I could never get a sense that those 'boxes' were a 'home'.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:17
[a href="http://www.straight.com/article/home-ownership-eludes-most"]http://www.straight.com/article/home-ownership-eludes-most[/a]

so you do like 'row homes' they've just have to have character. okay got it.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:19
in the 'new urban' neighbourhood in my area they're building these:

(http://www.tndwest.com/sitebuildercontent/sitebuilderpictures/StChasrowa.jpg)
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 09:25
They can attach a 'NOW buzz phrase' to them....but they're still ugly.  

  No....I don't like row homes.....but I understand the need for them.  However your pics show that they can be done with some some attention to design and style.  I've done the sub-division thing before....never again.  Next stop for me (dragging kicking and screaming)  will be the old folks home....and I sure hope when that time comes, there is an architect around that has some imagination.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:29
ah I see, so you would prefer an apartment or condo in the city?
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 09:42
No....I would prefer to be far enough away from my neighbour to not hear their morning bathroom activities....their love of opera....or to smell their menu 3 times a day.

  I don't want to know what time they went out, or what time they arrived home.  I don't want to listen to Fee-Fee practising her barking skills all day or hear their personal conversations on their postage stamp deck.

  Gimme some green.(http://discoverseattle.net/forums/richedit/smileys/Happy/12.gif)   I'm spoiled....what can I say.

    SO....if I HAD to live in the city...these are the things I would look for.  Attention to sound-proofing....air quality control and privacy...and a few square feet to plant something green.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:43
hmmmm you've given me a challenge.

 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:55
 I have your 'ideal' city home. Give me a day.    
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 13 07 09:59
well this house certainly isn't an affordable home its in Kits and is probably a freaking lot but it fits your criteria.
(http://static1.bareka.com/photos/medium/1174868/point-grey.jpg)
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 13 07 10:27
It's still a box.  Well, maybe it's a little more.  A box on a box.  Uh uh.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 06:30
It is all what an individual is into. All I know is I hated my condo with a passion. Felt like another sardine in a can.

sports, the second you have a kid, (not saying you should have kids or not), but your house fills up really fast.

  I am not in suburbia either. My house was built around the WWII era. Big trees, older style, walking distance to my downtown job. But the houses are still pretty close to each other.

  I think what P.C. has sounds what would be perfect for me too.

P.C., yes, yes you are spoiled!! haha! But I am sure you take nothing for granted. I feel you love your place.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 08:03
I know, its about the kids. But as I've grown up in a condo and a house. The house became a storage unit.


 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 08:11
I guess it depends what you are storing too? I have a massive storage pile too. Camping stuff, old photos, etc.  I try to get rid of crap I don't need though.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 08:16
More row houses ideas:
St. John's Newfoundland

(http://static1.bareka.com/photos/medium/1249188/gower-street.jpg)

The backyard in one of those 'boxes' in Bremen Germany
(http://static4.bareka.com/photos/medium/411619/hinterhof.jpg)
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 09:10
I know, its about the kids. But as I've grown up in a condo and a house. The house became a storage unit.


My house became a home......something I never felt in appartments or condos.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 09:12
yes, but did you have 2 kids in it that out grew it?

I couldn't even walk through the kitchen.

 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 09:13
Umm....well, no.

  I had 3 kids.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 09:20
3 Kids! That is cool!
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 09:25
 nevermind.

Anyway everyone's missing my point. You can't afford a house in Vancouver unless you make at least 110k the bank won't give you a loan. That puts the majority of people who make between 35 and 60k out of luck. And everytime somebody builds a giant condo its not for the majority of the people its another toy for the rich. We are losing the middle class. Nobody seems to care, they have a voice but they don't use it and the same old same old gets elected to serve the rich. Sooner or later the middle class is going to have enough and they're just going to leave the city and the area.

So there are at least 250,000 people I bet who want a home in Vancouver but don't make triple digits. They would gladly take those 'boxes'.  Its a home. We have a housing crisis and nobody seems to give a hoot.

   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 09:33
Granted, things have changed.  But remember, that one of the things that has changed, is the attitude that it's everybody's right to OWN a home.....That a 20 year old can move right into the real estate market with his first job.  People used to actually SAVE....for YEARS, to be able to have enough of a down payment to make their monthy payments managable.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 09:52
I'm not talking about people my age wanting a home. I'm talking about teachers, fire fighters, police officers, nurses, the people that make up the communities yet can't afford to live in it.
Saving up for a home, not possible anymore. The middle class 30k-60k barely makes enough to survive in an apartment. How are they expected to save up for a home? You can't start a family at 50.
Then it leaks into population growth. Canada needs immigration to keep population up. Because nobody is having kids. One of the factors. Homes. Nobody can afford a home and nobody wants to raise a kid or kids in an apartment complex. The North American view of a family is a house not an apartment/condo. Until we can have the majority of the people able to own a home, they will be reluctant to have kids.

Canada's the only country in the G8 without a national housing plan. Canada's also the only country in the western world without a national public transportation plan too.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 10:03
I'm not talking about people my age wanting a home. I'm talking about teachers, fire fighters, police officers, nurses, the people that make up the communities yet can't afford to live in it.
Saving up for a home, not possible anymore. The middle class 30k-60k barely makes enough to survive in an apartment. How are they expected to save up for a home?
 


I don't fully buy into that.  You have to admit, that at least some of the problem stems from the 'I want it all, and I want it NOW' school of thought.  I know an awful lot of lower income people who have managed to buy homes.  It required a lot of years of going without and making do.  Stashing away every cent they could....like....actually WORKING toward the goal.  No fancy clothes...no fancy cars....no lattes or dinners out.  It's called priorities.  I'm not saying it's easy....but it's do-able.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 14 07 10:22
P.C. wrote:
  I don't fully buy into that.  You have to admit, that at least some of the problem stems from the 'I want it all, and I want it NOW' school of thought.  I know an awful lot of lower income people who have managed to buy homes.  It required a lot of years of going without and making do.  Stashing away every cent they could....like....actually WORKING toward the goal.  No fancy clothes...no fancy cars....no lattes or dinners out.  It's called priorities.  I'm not saying it's easy....but it's do-able.[/DIV]
 Amen to that!  

I remember the first 3-4 years after I bought my first home I had to do without a lot of luxuries and made sacrifices so I could make mortgage payments.  Life got easier as I began to make more money and equity started building in the house and I could refinance with better rates.    
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 10:22
 I don't even think its the "I want it all" group. Statistics Canada says 30-60k is the 'middle class'. In order to own the average home price in the GVRD you need to make 110k.

I don't think the 30-60k group which is the majority is living a "I want it all" life. That would be the rich and super well off people.
   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Michel on Aug 14 07 10:25
Never got the chance to visit that complex, too far from the center and not enough time, but I know it was an amazing experiment at the time.



[FONT color=#800080][A href="http://en.wikipedia.org/wiki/Karl-Marx-Hof"]http://en.wikipedia.org/wiki/Karl-Marx-Hof[/A][/FONT][A href="http://en.wikipedia.org/wiki/Karl-Marx-Hof"][/A]
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 10:30
 they might aspire to that idea, which would explain the middle class voting for political parties that do not reflect the reality for them. (Example my uncle who is poor and filed for bankruptecy before is a diehard neo conservative hates democrats)

There's a difference in my opinion from aspiring and the reality. Yeah we can all aspire to be super rich and wealthy, but it ain't happening because that's not reality.

In the end its a voting issue and getting people who's lives depend the most on political issues to vote. Everyone knows the well off and elderly vote the most. And well they're going to vote for their own interests which aren't in the interests of the majority. Its getting the majority out to vote. People might think politics is just silly and a sport. But in reality politics is about people's lives. People's lives can change drastically on an election result.
   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 11:08
I don't even think its the "I want it all" group. Statistics Canada says 30-60k is the 'middle class'. In order to own the average home price in the GVRD you need to make 110k.

  I think the problem you're having SD....is you are relying too heavily on 'stats', instead of life experience, to form your conclusions.  The 'stats' aren't going to tell you a thing about WHY some people can't make ends meet, while others with lesser incomes are doing fine.

  The statistics that say that you have to make X to afford Y is all about math and figures.  

  If couple A and couple B make the same amount of money, and both have goals to buy a home in 5 years.  Couple A stashes and saves and does without and couple B lives pay cheque to pay cheque, 'treating' themselves along the way, spending every nickel of what's left over after paying the bills with 3 or 4 credit cards maxed to the hilt.  5 years down the road couple A and couple B purchase a house of the same value. 'A' has saved a substantial down-payment....reducing their monthly payment to a manageable amount.  'B' is singing the blues that nobody can afford a house these days.  Stats won't reflect that.      
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 11:43
I worked my a*s off to get my first condo. (well, I do still have an a*s...) But, all said and done, it was so worth it. Nobody told me it was going to be easy either. My parents never had the cash to help me out either.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 11:53
 yes they do. Stats don't lie, stats are the ultimate truths. The problem is now couple A can't afford a home even with their constant savings. Because of the social structure and towns we've created you need a car. Cars are the ultimate black holes. Then you've got food, rent, utilities and so on to pay for. For someone making 50k that leaves 5k max usually for 'savings'. And we're not counting couples with kids already. That 'savings' disappears. We don't have universal child care. So if they do somehow come up with a savings of 5k a year that means it will be at least 15 years before they are able to afford a home at current prices. The prices are only going to go up. So a couple at 30 who want a house, can't afford to wait. Nobody starts families at 45. They could but its not practical. 45.

Then developers want to put low income housing in a neighbourhood. Today 'low income' means middle class in the Vancouver sense. The city then says nah and develops a property without housing for the middle class. More sky high condos and townhouses for the rich.

Couple A is not waiting til 45, most likely they'd move.


   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 11:56
stats don't lie??

I hope you don't believe any stats from Canadian media or its sources, its all government controlled.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 12:00
 [em]I think the problem you're having SD....is you are relying too heavily on 'stats', instead of life experience, to form your conclusions.[/em]
 
[/div] I really agree with your conclusion, PC.[/p] [div]
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 12:01
Although it is a struggle, I think from what I see, I see a lot more young people going into serious debt at an early age because of material possessions. That being said, the part I agree with sports is, housing prices are..or did, rise a lot faster than wages did. Especially in Vancouver and Calgary.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 12:03
yes they do. Stats don't lie, stats are the ultimate truths

 
 You've got to be kidding me right?  People who are part of the stats lie which in turn, make stats VERY GENERAL AND DAMN VAGUE!

 I am not a believer of stats.  I take it with a grain of salt.  

Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 12:04
 The only solution is co-ops.    
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 12:31
yes they do. Stats don't lie, stats are the ultimate truths.

  It's my turn for big laugh on that one.  SD....stats paint a picture with a very broad stroke.  I know more people who have prospered in spite of fitting into 'your' figures, than people who haven't.  Stats can only state numbers....averages.  They don't reflect sacrifice, determination, ingenuity, creativity....or all the other methods people have used to defy the 'stats'.

  Devil wrote.....Although it is a struggle, I think from what I see, I see a lot more young people going into serious debt at an early age because of material possessions.

  I couldn't agree more......and not from a place of criticism.....just simple observation. Some people's priorities are just different.  

  Are housing prices out of control and intimidating.....absolutely.  Does that make the reality of owning a home impossible ?....I don't think so.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 12:38
i know stats are just a ball park figure. But still they show trends. The middle class is defined by tax structure. That is 30-60k. When the average housing price is 7x that something isn't working.
I believe that if you have a good job, that pays well you should afford a home. Right now that is not possible.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 12:50
Stats don't lie.  Stats are the ultimate truth.



I know stats are just a ball park figure.

  I don't think you do.  Those art totally opposing statements.

  SD....put the calculator down, and use your head.  Those figures are arrived at by taking a figure of income, and calculating it to the cost of a house.  

  I don't know very many people (if any) who are in the position of starting from square one....no savings....nothing...."I make such and such....and with that.....there isn't a house out there with a price I can afford"    That's all those figures are saying.  Those whose goals are to buy a house need to do some ground-work first....'position' yourself to be able to afford a house.  THERE ARE NO STATS THAT TAKE THIS INTO CONSIDERATION.

  It is NOT impossible.  I came to that conclusion from personal experiences.....not a book of numbers.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 01:09
 P.C. wrote:
[em]Stats don't lie.  Stats are the ultimate truth.[/em]
[em][/em]
[em]I know stats are just a ball park figure.[/em]
 
I don't think you do.  Those art totally opposing statements.
 
SD....put the calculator down, and use your head.  Those figures are arrived at by taking a figure of income, and calculating it to the cost of a house.  
 
I don't know very many people (if any) who are in the position of starting from square one....no savings....nothing...."I make such and such....and with that.....there isn't a house out there with a price I can afford"    That's all those figures are saying.  Those whose goals are to buy a house need to do some ground-work first....'position' yourself to be able to afford a house.  THERE ARE NO STATS THAT TAKE THIS INTO CONSIDERATION.
 
It is NOT impossible.  I came to that conclusion from personal experiences.....not a book of numbers.


Where have I said that people starting from square one should automatically be able to buy a house? Of course people should save money and lay the ground work for a house. They don't come over night. It took my parents 10 years after they were married to buy a house. I grew up in an apartment complex. If it took my parents with two very good paying jobs 8 years to buy a home back in the 80's, its got to be double that now. When I said people making 50k should be able to buy a house I don't mean tomorrow. Its a long process but the process is becoming so long now that its not reasonable. Especially if you want to have kids. People want to have kids in homes not apartments.
I'm using stats to back up personal experiences. They teach you in school that you need a source of information to be credible or people think you're just pulling stuff out of your ass.

 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 01:41
Where have I said that [FONT style="BACKGROUND-COLOR: #ffffbf"]people starting from square one should automatically be able to buy a house[/FONT]? Of course people should save money and lay the ground work for a house. They don't come over night. It took my parents 10 years after they were married to buy a house. I grew up in an apartment complex. If it took my parents with two very good paying jobs 8 years to buy a home back in the 80's, its got to be double that now. When I said people making 50k should be able to buy a house I don't mean tomorrow. Its a long process but the process is becoming so long now that its not reasonable. Especially if you want to have kids. People want to have kids in homes not apartments.
I'm using stats to back up personal experiences. They teach you in school that you need a source of information to be credible or people think you're just pulling stuff out of your ass.
[/b]

 


[FONT style="BACKGROUND-COLOR: #ffffbf"]That's what those numbers you have pulled up are based on SD.[/FONT]  X income equals Y purchase.  Nothing else.  It's just math.

  Using stats to back up personal experiences is fine....when it comes to purchasing real estate....you have no personal experiences.

  Let me assure you, I have great sympathy for young couples starting out now.  Not only are costs skyrocketing....a great percentage of them have been brought up to see value in the latest fashions, fancy electronics and flashy cars.  I can also assure you I'm not pulling my information out of my a$$.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Devil on Aug 14 07 01:47
Maybe it is all the bling bling on the TV and movies? But it seems a lot (not all), of the younger people I work with are all trying to 'represent'. Driving brand new beamers and Lexus, dressing to the latest fashions, and then complaining rent is too high.

  I call it "Eminemized".  LOL!

  Suburban kids pretending they are from South Central LA!
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 01:49
"Eminemized".            [img style="CURSOR: pointer" onclick=url(this.src); src="http://www.cheesebuerger.de/images/more/bigs/c008.gif" border=0] Excellent !
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 01:56
no kidding devil. I have a friend who has that 'wanting it all' mantra stuck in his head. He's like well "I like it here, I'm not moving" then I ask well what about jobs in what your going into? He says "well there's a shop in nashville, but I don't want to move I love it here".  Then he gets the crazy idea that he can open up his own custom shop and gives me a name of some famous person who 'made it'.  
He doesn't get it.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 14 07 02:03
SD,

Find a rich wife
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 02:05
I call this "living in cloud 9."
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 02:06
49er wrote:
SD,

Find a rich wife
LOL and I need to find a sugar daddy. ;)
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 02:09
 49er wrote:
SD,
Find a rich wife

LOL!!!



 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 02:10
I think 49er meant it.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 02:13
really. Love or Money I take love.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 14 07 02:24
if you are not going to sacrifice and strife but to blame the world for the ills then whats better than the shortcut to owning property than by marrying rich    
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 02:27
who said I'm not going to sacrifice to get somewhere. You have to, that's life.  
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 14 07 02:29
just that you sound defeated before you start
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 02:43
There is no word called defeat in my dictionary.
Its just me working on a little social activism that's all.
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 14 07 08:08
Sportsdude wrote:
The only solution is co-ops.    
[hr style="width: 100%; height: 2px;"]I wish that it were that simple.  Coops are expensive too.  Shares tend to start at $1500 and could go upwards of $6000.  I don't know how many hours of work you have to put into the coop but it can be difficult when you're out there working all the time.  Plus, there's a looooooong waiting list.  It could take years until someone gets approved.  
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: P.C. on Aug 14 07 08:14
If co-ops are the answer, I'd have to ask...What is the question.  Do you want to live in a glorified appartement where you get to pay for doing work that normally a landlord would do?

  It wouldn't be any kind of a solution for me.
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: 49er on Aug 14 07 08:23
actually its now common to have tenancy-in-common ownership
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 08:29
I meant more co-ops. South False Creek in the 70's they built these cool Co-ops under the federal housing plan from the 70's and 80's. Then the Liberals (federal) cancelled the program and Canada hasn't had a housing plan since, they said 'leave it up to the provinces'. So housing is under provincial control now and the B.C Liberals don't have a plan there idea of housing is high rise condos.

(read this all in my vancouver urban planning book from UBC) :)
 
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Sportsdude on Aug 14 07 08:43
 Pacific Heights Cooperative start at
2,3 bdrm units units at $859 - $1047 per month

[a href="http://www.chf.bc.ca/pages/directory-coop.asp?CoopID=163"]http://www.chf.bc.ca/pages/directory-coop.asp?CoopID=163[/a]

Here's the complete list:

[a href="http://www.chf.bc.ca/pages/directory.asp"]http://www.chf.bc.ca/pages/directory.asp[/a]

   
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: Observer on Aug 15 07 06:44
Co-ops don't work. Waste of time and money!
Title: Re: Least Affordable U.S. Real Estate Markets
Post by: purelife on Aug 15 07 08:00
Observer wrote:
Co-ops don't work. Waste of time and money!  


 Agreed!  The shares are damn expensive.  Who would put thousands of dollars away to a coop with little return?  AND you have to spend so many hours attending meetings, voting, and cleaning!!!  Yea, rent may be cheap but look at what you have to do for the rent!  Who has the money to put down for shares anyways?  

 So, this is definitely not a solution for me, either.