Home buying thread
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Burns
Golden Baronet of the Realm
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Big bases have crime problems. Killeen (Fort Hood...er Cavazos) has a reputation of having a much higher crime rate than other cities of it's size.
ToeMissile
Pronouns: zie/zhem/zer
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At a minimum, no one wants to live near all the noise. At least for bases w/ active flight lines. "Hold on, there's another plane taking off/landing/flying overhead..... Ok, what were you saying". The immediate area around Nellis when I was there '02 - '08 was all industrial zones and shitty aparment complexes.
A landlord could pursue issues w/ the chain of command on base (whatever the proper avenues are for that) but it's still going to be a pain in the ass. Imagine college kids living away from home for the first time with a little money for the first time, not a lot of bills, and basically nothing to study for. A decent bit of generalizing here, but it can be a pain in the ass.
A landlord could pursue issues w/ the chain of command on base (whatever the proper avenues are for that) but it's still going to be a pain in the ass. Imagine college kids living away from home for the first time with a little money for the first time, not a lot of bills, and basically nothing to study for. A decent bit of generalizing here, but it can be a pain in the ass.
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Daidraco
Golden Baronet of the Realm
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Im retarded / ignorant to some of the stat breakdowns here. 128 Million income tax payers, but 162.3 million have jobs?
As for Food Stamps, etc. versus home values - I guess there just needs to be some kind of incentive to get people to move the fuck out of cities. Why the fuck would you even WANT to live in fucking Los Angeles, for example? Insanity.
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The difference could be low wage part timers. A while back my wife quit the full-time work life to give our kids more of a normal schedule. She landed a minimum wage, part time job at our school to bring in a few extra bucks. The pay is so low they don't even take taxes out of her paycheck.
Ishad
Ahn'Qiraj Raider
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Ishad
Ahn'Qiraj Raider
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Unwinding the impacts of cheap lending and all the cash that got printed during Covid isn’t happening anytime soon.
I doubt we’ll see a correction in prices that offset the additional cost of current interest rates.
Asshat wormie
2023 Asshat Award Winner
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Price crash requires people having a reason to sell. Currently, no one wants to sell because then they would need to swap from a 3% mortgage to a 7%. Lots of people need to start losing jobs for the housing prices to crash.
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Kithani
Blackwing Lair Raider
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I don't think we'll see a price crash until the Boomers start to pass away, if we do at all.
I think the alternative is we'll wake up in 10 years and inflation will have continued exploding in order to drain away all the money the Boomers built up while they were alive.
I think the alternative is we'll wake up in 10 years and inflation will have continued exploding in order to drain away all the money the Boomers built up while they were alive.
Leadsalad
Cis-XYite-Nationalist
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Here's the neat part, a lot of the boomers don't have any money, but they have pensions that we're all paying for!
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All that'll happen here I think is those assets get passed down, sold, and new rich people will buy them. Unless the population actually declines, the demand for housing isn't going to drop.
Break
Silver Baronet of the Realm
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At least in my neck of the woods, it seems like new home builds in most places are focusing almost entirely on town homes and apartment buildings and entire blocks of homes that are identical except for some minor differences in brick/siding colors. Apparently this is all people can afford these days so builders are cranking them out non-stop, especially town homes, I'm seeing a butt-load of townhouses going up.
Gravel
Mr. Poopybutthole
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I can't imagine spending "house money" (amount) on a townhome. I already hate that my current house is only on a quarter acre.
Like, if you're going to spend that much money, at least it'd be nice to not share a wall with someone else.
Like, if you're going to spend that much money, at least it'd be nice to not share a wall with someone else.
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You get used to it depending on the market. My lot is only a bit bigger square footage wise than my house (which seems insane)... and my lot is worth ~ 1.7M now. It seems stupid at first when you look at these little tiny lots, and I wouldn't want to share a wall with a neighbor, but the neighborhood is the neighborhood sometimes.
There are places that build really nice townhomes that actually have stone walls between the units and the units aren't structurally related i.e. each has it's own slab, own frame, etc.. they just each touch that fire wall in the middle. These probably aren't what you're talking about though and if you share normal interior walls with other people you are going to really not enjoy yourself.
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I can't vouch for the source; this is just something I came across on google. Lots of data about the recent history of housing supply and demand which will require nuanced reading. The conclusions at least pass my sniff test:
www.construction-physics.com
tldr:
Conclusion:
So, to sum up:
Is There a Housing Shortage or Not?
The housing shortage in the US is a perennially popular topic of conversation for the urbanist crowd (which online includes basically everyone.) The basic argument is that housing starts collapsed after the financial crisis and have never truly recovered. This, combined with restrictions on...
www.construction-physics.com
tldr:
Conclusion:
So, to sum up:
- Evidence suggests the US is short several million housing units. This shortage currently shows up as a historically low vacancy rate, which makes it harder to find a home to rent/purchase and drives housing prices up.
- Changes in vacancy rate is reasonably predictive of changes in housing prices within a metro area. Average vacancy rate is less good at predicting price changes between metro areas (though it’s still better than most other metrics.)
- We don’t see much evidence that a mismatch between population growth and housing construction is responsible for housing price increases, though we’re very far from being able to rule this out.
- We see a very strong correlation between land use restrictions and rental rates, at least as of 2019.
- There’s a reasonable amount of evidence that housing prices tend to adjust to match regional incomes.
- In general, housing trends are largely driven by a small number of outlier metros. In particular, Bay Area metros are housing trend outliers, and will give the appearance of stronger trends than actually exist if you just look at a small number of metro areas that includes them.
- Because of changing trends (lower immigration and population growth, homes being kept in service for longer, a slowing of the rate of change of average household size) current rates of homebuilding can’t be compared to historic rates of homebuilding.
Borzak
Bronze Baron of the Realm
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Number of employed never pay any income tax and get a refund/credit yearly if they don't make much.
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Burns
Golden Baronet of the Realm
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I rented a Townhome for a year, there was 4 to 6 foot between the houses at some spots, but never heard the neighbors at all. Of course it was a quiet area, and no one was having parties with loud music, so that would probably make a difference.
Do they call the buildings that share walls, Townhomes in other parts? We always called them duplexes or row houses (not that I have seen row houses in Texas).