I mean, I understand the pressure points. People want to live in desirable locations with job opportunities. They want to live in nice neighborhoods, close to good schools, parks, clean, low crime, night life and so forth. If you have the money and can afford to throw down for a prime spot it only makes sense that you'd want to protect your investment from being devalued. At the same time, it seems like things have spiraled out of control. These places are creating isolated bubbles of wealth and exclusion, or maybe it's silos. Obviously people in this country are pissed at a whole range of issues, but it makes perfect sense that this would be among them.
Civil mismanagement has consequences
- Thread starter GBRforLife1
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I'm dating the lady who is most likely going to be my future bride and we each have a house, and I always thought when I get remarried I'd just sell mine and we'd buy one together but with housing prices doing what they are I have come to the conclusion I'd be an idiot not to keep it for a rental until I reach retirement age...I'm 52 currently....and in about 10 years, this house will make a great retirement nugget. Yeah I could sell now and have some nice equity, but where am I going to get the kind of return a house can give you? It's crazy what is happening to prices and I do not understand who can afford this? When you hop on the job sites like Monster and Indeed, etc, 85% of the jobs are for under 50K....I don't get it.
...and to take it a step further my future bride grew up in Boulder and her parents sold some commercial property recently they had owned for 30 years, do I have to tell you how much they banked?
...and to take it a step further my future bride grew up in Boulder and her parents sold some commercial property recently they had owned for 30 years, do I have to tell you how much they banked?
How big was the property? If it's over 1000 sq. feet I'd bet it's easily over $700,000. Depending on location it could easily be in the $1 million range.
If you are asking about my future mother and father in laws commercial property, it was very large and on the best corner in Boulder (arguably) and they banked many many millions.
Yes, I was referring to your future in-laws. And yep, that makes sense. Housing prices in Boulder are obscene.
Housing Prices always intrigue me.
About 10 years ago, I was in New York and taking a shuttle from the airport and struck up a conversation with the driver. We started talking about housing and he told me his house payment was $3700...at the time, I lived in Estherville, IA and had an 1800 square foot home, that I paid $80,000 and had a house payment of about $450. He was blown away...One of my questions was: where does the guy who works at McDonald's making 10 bucks an hour live. His response was that, they either have a very long commute or they share a house/apartment with multiple people to make it affordable.
I've moved quite a few times over the years and owned 6 different houses over the years. It seems I have never had good timing when selling my homes as I have made very much on the sale and often lost money as the local economy always seemed to have a downturn right when we were moving. The one thing I have learned in real estate is local...an example we owned a home in South Sioux City area and the day we put the house on the market...Gateway 2000 announced they were laying off a bunch of employees (i think 1500, but long time ago to remember how many). Our home sat on the market for 6 months with no action and then one random day, we got three offers on the same day and actually made money on the home.
About 10 years ago, I was in New York and taking a shuttle from the airport and struck up a conversation with the driver. We started talking about housing and he told me his house payment was $3700...at the time, I lived in Estherville, IA and had an 1800 square foot home, that I paid $80,000 and had a house payment of about $450. He was blown away...One of my questions was: where does the guy who works at McDonald's making 10 bucks an hour live. His response was that, they either have a very long commute or they share a house/apartment with multiple people to make it affordable.
I've moved quite a few times over the years and owned 6 different houses over the years. It seems I have never had good timing when selling my homes as I have made very much on the sale and often lost money as the local economy always seemed to have a downturn right when we were moving. The one thing I have learned in real estate is local...an example we owned a home in South Sioux City area and the day we put the house on the market...Gateway 2000 announced they were laying off a bunch of employees (i think 1500, but long time ago to remember how many). Our home sat on the market for 6 months with no action and then one random day, we got three offers on the same day and actually made money on the home.
I think the part that baffles me is the relative comparison. Anyone can drive through a rich neighborhood and understand why some homes are worth millions. What I can't fathom is how a 1,200 sq. ft. home in a nice neighborhood, but certainly not amazing, should cost many hundreds of thousands of dollars or even millions. I mean, if you can afford to buy a million dollar home why would you buy a bungalow in the middle of a crowded city? But I guess that's just me.
I was in Breckenridge last year on a mountain bike vacay with my son and I asked every single employee of every store we went into how they could afford to live there and every single answer was the same....apartment with lots of room mates. We patronized every bike shop in Frisco and Breck we could and a couple guys were busted up and I asked every one of them what happened and they said the same...wiped out on the mountain, but that wasn't the interesting part, the interesting part was they all said they had to go to work even busted up because they needed every check to finance the lifestyle and not a one regretted their decision.
100% correct. It's as horrible as things can get.....snowflakes totally destroy their home state so they then move to another state to destroy again. It's sick....
Sell it now. IF Biden wins and he implements HALF of the things he's talking about I expect they'll have to take back that principal residence capital gain tax exclusion among other things to try to pay for all of his give aways.
If you rent the home for 10 years, you would lose the Principal residence capital gain exclusion anyway. You can also lower your taxes by depreciating the asset, but when you sell it, you will incur capital gains taxes based on what you depreciated the asset. Consult a tax expert as this is just my interpretation.
Nobody has to demonize the left. The fine people of Portland and Seattle do it for them.
To be brutally honest, it will be up to her 100% because I'm not passionate about it one way or the other.
Make no mistake, cities like Omaha have become destination cities. Companies and people are flocking to what they perceive to be safe and low cost living destinations. Small foothill towns like Buffalo Wyoming have been taken over by people fleeing primarily California.
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The one caveat is that IF you sell it, you don't want to be stuck holding cash and the stock market scares the hell out of me right now. We're going to have inflation with the way we're printing money right now. SO, what the hell does a person do with the proceeds if you were to sell it? The flip side is that renting your home out is like playing Russian roulette. One bad renter can destroy a home in a matter of weeks leaving you with tens of thousands of dollars of repairs. You're never able to recoup that loss if that happens.
I've got 2 rental houses right now that are on farmsteads. One is a 1900 house that should probably be burned down but the old retired guy that lives there loves it. I only charge him rent that equals about what I have to put in to it in repairs every year. This year between the roof and a water softener those cost me 3 times what he pays in rent in a year. The other is a new ranch style I built for a kid I was trying to help get started in the bull business. He had helped me some on the farm over a couple of years. He stayed a year and then decided life was too tough so he moved to town. I let that sit empty for over a year due to a fear of who might rent it. I finally rented it to friends of a neighbor. Right off the bat they begged to let them have a pet. Then it was 2, albeit a very small cat and dog. THEN they wanted a hunting dog that they were going to keep in the house.....ummm nope.
I worked for a realtor when I was in college doing property management. I would estimate that half of the properties had cats at least in them even though they were forbidden. There's nothing like cat piss soaked through carpet in to floor boards to ruin a house. If you can't be in a situation to see your property almost daily, I wouldn't rent a house out.
If you're going to be in the property management business, you need to set strict rules and follow them ruthlessly. Some tenants are going to push the boundaries as hard as possible. That said, if you vet adequately oh, you can get good tenants that will stay there for years. Do not neglect doing the leg work to investigate tenants. You want to see where they currently live, take note of the condition of their vehicle inside and out and find out what you can about them on social media. I never want to do business with any family or anyone else that could use the relationship to get over on me
It sounds like y'all want to make this out to be strictly political, and that is an oversimplification. It's also significantly about money. I assume most everyone here is familiar with redlining policies, which were used to segregate neighborhoods based on race. Those laws are mostly gone, and instead what you have are wealthy people, not just the filthy rich, let's say the top 10 pct. to 15 pct., who are politically left, but in fact support policies that segregate based on wealth, which amounts to the same thing as redlining.
Here's a thought: this union of ours has always allowed for a freeish flow of people and commerce across state lines, but it wasn't always as easy as it is today to establish residency and enjoy the benefits thereof. These days we move across state lines without giving it much thought. What might restrictions on that flow of people look like from a policy standpoint? Is it even possible? I know that sounds crazy, and I can't see it ever happening, but it does make me wonder if there were a way to have a measure of control over inflows.
I have no doubt that it’s a combination of things. There have been good points made in this thread about the many things that lead to people and organizations relocating. I guess I would ask, what was the last straw? I don’t know the answer to that question, but I do think for many they made do, until something happened that was the last straw...
Portland cops now threatening Trump supporters with knives. Just confirms what GBR said.
Maybe the people on the left shouldn't act like demons? Just an idea.
I'm not saying Seattle is perfect, but it's consistently ranked among the better cities to live in the U.S. As far as Boeing goes, they probably made some mistakes there.
I honestly don't know much about it, but one article I read said the city gave tax breaks awhile back, but no jobs guarantees and Boeing decided to move operations out anyways. Tax breaks seem to be the thing that people on the right love so much, and Seattle tried that and it failed. Seems plausible if they would have made job guarantees as a condition of the tax breaks that a lot of those Boeing jobs might still be in Washington.
I honestly don't know much about it, but one article I read said the city gave tax breaks awhile back, but no jobs guarantees and Boeing decided to move operations out anyways. Tax breaks seem to be the thing that people on the right love so much, and Seattle tried that and it failed. Seems plausible if they would have made job guarantees as a condition of the tax breaks that a lot of those Boeing jobs might still be in Washington.
Former clients of mine that worked in the heart of Seattle spent 3-4 hours DAILY commuting, 5 days a week, 15-20 hours a week in traffic or on public transportation. A good friend left a job in Chicago who often missed bedtime with his kids because he was stuck in traffic, he’d go days without truly being around his young kids. Heard the same stories in other big cities where I had clients. So it’s a choice between a place with space and “good schools”, but you are never there or never see your family.
I loved working with clients in major cities and the events, things to do and food were amazing, but I ultimately live in a small size city where I used to commute 20-30 minutes each way from a suburb but can now bike to work if I wanted in 15 minutes and my car commute is 5-7 minutes usually. That’s time with my family that I can’t throw away despite probably being able to buy something 7k square feet + on land if I would tolerate a commute.
Your take is way too sophisticated for the Q'Anon Husker Power goons on this board. And I wouldn't be so quick to concede that riots are a primary cause of people moving. Supposedly thousands of people are moving, and I haven't actually talked to any of them about motivation. I do get a kick out of these small town rubes who have likely never spent significant time in NYC, LA, San Fran, or Seattle, but never miss a minute of coked up ghouls like Greg Gutfeld or an absolutely dandy like Steve Doocy, opining with certainty about big city politics.
There is Seattle and then there is the rest of the state. Boeing is in Everett which is conservative. Seattle is also losing business to Bellevue/ Redmond area high priced but well run. Seattle still has net migration I believe or did until the riots. There is however many people moving or thinking of moving out of the city core but still in Puget Sound. Some is the riots to be sure but the homeless issue is just as big of problem the you have the high cost. Couple that with many companies are just having people work remotely why live in the City.
Of course the governor is a complete idiot the Seattle politicians are complete left wing nut jobs. The area and state is still overall good though we are not quite California bad yet
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3-4 hour commute is a big long - but depending on where you live if you work in downtown it could easily be a couple of hours a day.
I worked in Downtown Seattle for many years and loved it.we considered buying down there some years ago as the atmosphere and whole experience was very cool and unique. But now I never go there the drug addicts and homeless are everywhere. Seattle downtown has been destroyed by inept politicians
I don’t know about other cities but the Seattle homeless problem is due to drugs,mental illness and politicians enabling these people. I laugh when people say it’s a housing problem really? If that were true they would move to a cheaper city. There is plenty of money to support these high prices. What there is not is good leadership to clean up the streets and get the homeless camps out of there. Seattle was a beautiful city just like San Francisco ruined by leftist policies. Even many liberals know it has gone to far they just can’t seem to break the bad habit of voting in these idiots
It could be a situation where they understand that voting differently might usher in a bunch of other, more undesirable crap; ergo, they're willing to put up with the homeless problem when faced with the alternative. I won't even go into how many of the folks that want to criminalize homelessness are often the same ones that always vote to cut funding for public services.
Homelessness has gotten to be quite the problem in the US. Not necessarily being without a home, but all of those who have fallen on Skid Row from drug addiction and mental illness. All of these states are in the practice of putting their dregs on buses and shipping them someplace else. Much easier to sleep in a tent year-round in LA than it is in Chicago. You think it was mostly a local problem, but many of the homeless people in Omaha aren't from around here.
I live a town in Eastern Washington that if you include the surrounding small towns has a population of about 100,000 people and growing. The average sales price of homes in 2020 YTD is $404 with a 9% increase over last year. 98% of the homes sell for list price or higher. A friend sold her home that was in very good shape including some nice remodeling last August. Move-in ready. It was a small 1500 square foot 3bath/1 bath rambler (no basement) located just 4 houses up from a old grocery store that is known for low income clientele. Built in the 1940s on the edge of downtown with the courthouse and jail just across a very busy street. She listed it at $358. They reviewed all 11 offers after it was on the market for about 5 days. She accepted a cash offer for $368 and it closed in 2 weeks. Things have broken loose and quite a few new construction homes are going up. In one area of about 30 new homes (all sold) the builders (3 or 4) all built 1800 square foot ramblers with nice flooring, carpet, counters and cabinets. They ranged from $475-$525. Just across an irrigation canal from these houses one of the same builders just finished developing 25 lots and he has two houses going up already. I talked to him and he says he doesn't see selling any of them for less than $525. These are the "New" average price homes for new construction. They are not the high dollar, large homes currently going up about a mile away.
Another friend is putting up 25-30 patio homes on an old 5 acre horse pasture I use to love to walk by with my dog. Patio homes for those who don't know are like duplexes only you own just one side of the property. He builds really nice homes and I haven't yet asked but I know they won't be less than $500 and I am betting $600 or more.
It's pretty crazy. The Baby Boomers will be tripping over themselves to buy homes as on the old Boys Town property off of Dodge. You can expect to pay 400 to 600 for 1800 square foot Villas.
Leftist think this is some sort of glorious epiphany.
The rest of the world recognizes it for a ridiculous straw man that is no where close to reality.
How are those surgeon masks working out for ya that apparently create more infections?
Just explaining why people that are tired of the homeless might be reluctant to vote for a candidate that might crack down on it, but also pledge to do something else that the voter find far worse.
20 years ago, in my home state, the state level Democrats were annoying me with their ridiculous spending. However, the other options were Republicans that were not only going to be just as bad at spending, but were promising to do something else that I found despicable. Therefore, I just went with the Ds.
So, does this mean that, when you have surgery, you will be demanding the surgeon remove his/ her mask, since they apparently cause infections?
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I dont think being homeless is criminal but I do think drug addiction is causing the homeless upswing. Heck Seattle has or had drug clinics where they would shoot these people up to keep them from stealing.
Today another landmark in Seattle closed that had been around for 70 years. They specifically stated homeless problem, drugs and crime is the reason they are closing
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