Monday, 15 August 2016

The problem with real estate investment

quote [ ... the only thing worse than a world in which homeownership doesn’t work as a wealth-building tool is a world in which it does work as a wealth-building tool. ]
[SFW] [business] [+3]
[by 5th Earth]
<-- Entry / Comment History

LurkerAtTheGate said @ 6:00pm GMT on 15th August
I understand the problem -- I've been offered jobs in the major tech hubs and turned them down by telling them my current living standard and what they'd have to pay me to maintain that after relocating (owned 2k sqft house in nice area, 10min from work, etc). I know my privilege -- middle class, well educated, tech professional. I have the benefit of getting job offers from the other side of the country. Getting a financial buffer so you can move to a more reasonable place is a fantasy when you live paycheck to paycheck (been there). I'd love to say that people who can't afford to live there should move to somewhere more affordable but I know that isn't an option...yet. There are places that are starting to try to attract an employable population to what the hub-dwellers consider the middle of nowhere.

I really don't know how this kind of thing could be fixed otherwise. Housing in this country is all kinds of messed up -- my mortgage is less than my rent in a small apartment was, in a neighborhood where hipsters harass us for gentrifying the area (before development my neighborhood was a junkyard, not low-income housing), and they just built a second neighborhood next to mine closer to a commercial railyard where the houses are $200k more than mine.


LurkerAtTheGate said @ 6:01pm GMT on 15th August
I understand the problem -- I've been offered jobs in the major tech hubs and turned them down by telling them my current living standard and what they'd have to pay me to maintain that after relocating (owned 2k sqft house in nice area, 10min from work, etc). I know my privilege -- middle class, well educated, tech professional. I have the benefit of getting job offers from the other side of the country. Getting a financial buffer so you can move to a more reasonable place is a fantasy when you live paycheck to paycheck (been there). I'd love to say that people who can't afford to live there should move to somewhere more affordable but I know that isn't an option...yet. There are places that are starting to incentivize in an attempt to attract an employable population to what the hub-dwellers consider the middle of nowhere.

I really don't know how this kind of thing could be fixed otherwise. Housing in this country is all kinds of messed up -- my mortgage is less than my rent in a small apartment was, in a neighborhood where hipsters harass us for gentrifying the area (before development my neighborhood was a junkyard, not low-income housing), and they just built a second neighborhood next to mine closer to a commercial railyard where the houses are $200k more than mine.


LurkerAtTheGate said @ 6:02pm GMT on 15th August
I understand the problem -- I've been offered jobs in the major tech hubs and turned them down by telling them my current living standard and what they'd have to pay me to maintain that after relocating (owned 2k sqft house in nice area, 10min from work, etc). I know my privilege -- middle class, well educated, tech professional. I have the benefit of getting job offers from the other side of the country. Getting a financial buffer so you can move to a more reasonable place is a fantasy when you live paycheck to paycheck (been there). I'd love to say that people who can't afford to live there should move to somewhere more affordable but I know that isn't an option...yet. There are places that are starting to incentivize in an attempt to attract an employable population to what the hub-dwellers consider the middle of nowhere.

I really don't know how this kind of thing could be fixed otherwise. Housing in this country is all kinds of messed up -- my mortgage is less than my rent in a small apartment was, in a neighborhood nice enough that hipsters harass us for gentrifying the area (before development my neighborhood was a junkyard, not low-income housing), and they just built a second neighborhood next to mine closer to a commercial railyard where the houses are $200k more than mine.


LurkerAtTheGate said @ 6:02pm GMT on 15th August
I understand the problem -- I've been offered jobs in the major tech hubs and turned them down by telling them my current living standard and what they'd have to pay me to maintain that after relocating (owned 2k sqft house in nice area, 10min from work, etc). I know my privilege -- middle class, well educated, tech professional. I have the benefit of getting job offers from the other side of the country. Getting a financial buffer so you can move to a more reasonable place is a fantasy when you live paycheck to paycheck (been there). I'd love to say that people who can't afford to live there should move to somewhere more affordable but I know that isn't an option...yet. There are places that are starting to incentivize in an attempt to attract an employable population to what the hub-dwellers consider the middle of nowhere.

I really don't know how this kind of thing could be fixed otherwise. Housing in this country is all kinds of messed up -- my mortgage is less than my rent in a small apartment was, in a neighborhood nice enough that hipsters harass us for gentrifying the area (before development my neighborhood was a junkyard, not low-income housing), and they just built a second neighborhood next to mine closer to a commercial railyard where the houses are $200k more.



<-- Entry / Current Comment
LurkerAtTheGate said @ 6:00pm GMT on 15th August
I understand the problem -- I've been offered jobs in the major tech hubs and turned them down by telling them my current living standard and what they'd have to pay me to maintain that after relocating (owned 2k sqft house in nice area, 10min from work, etc). I know my privilege -- middle class, well educated, tech professional. I have the benefit of getting job offers from the other side of the country. Getting a financial buffer so you can move to a more reasonable place is a fantasy when you live paycheck to paycheck (been there). I'd love to say that people who can't afford to live there should move to somewhere more affordable but I know that isn't an option...yet. There are places that are starting to incentivize in an attempt to attract an employable population to what the hub-dwellers consider the middle of nowhere.

I really don't know how this kind of thing could be fixed otherwise. Housing in this country is all kinds of messed up -- my mortgage is less than my rent in a small apartment was, in a neighborhood nice enough that hipsters harass us for gentrifying the area (before development my neighborhood was a junkyard, not low-income housing), and they just built a second neighborhood next to mine closer to a commercial railyard where the houses are $200k more.




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