You're looking at old info. The median home cost is now over $400k.
I drink your milkshake! a metaphor for capitalism
- Thread starter rickyb
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Thebrownblob
Well-Known Member
Hey genius, he lives in big cities it is that simple if it’s not working for you where you are move. There’s opportunity everywhere.
Even where I live, you might not be able to afford a house in my neighborhood but if you go 30 minutes north, you can get a house that needs very little work for $100,000.
The idea that a knucklehead like you would actually tell me anything about investing is hilarious. You’re a do nothing kniw nothing. Who will most likely live in his mom’s basement the rest of his life
When you grow up and get some hair on your nuts, then you can come back and tell me how to invest or buy property.
I currently own a rental property, a Lakehouse and the property I’m currently currently in which will be paid off in less than a year.
It was not easy. I just didn’t sit on my hands. I did most of it during the economic downturn of 2008.
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Thebrownblob
Well-Known Member
I can get on Zillow right now and pull up more than five dozen houses within a 50 mile radius of where I live under $150,000
Thebrownblob
Well-Known Member
Here you go genius here’s a whole bunch of nice houses under 150 K in a fairly big city. Maybe maybe you don’t like that but you don’t need to move to afford a house is your problem. I don’t live in Des Moines, but I’ve been there and it’s a very nice city with quite a few opportunities
Here’s one for you that you could probably even get out of your mom’s basement and actually be a man…
And I could do this in dozens of other major metropolitan areas maybe not on the East Coast West Coast but definitely anywhere in the middle.
Isn’t that horrible $139,000 for a pretty nice house and a pretty nice city in a pretty nice neighborhood with lots of jobs nearby. Nope you’ll just sit on your hands and do nothing with your life. Enjoy.. hell might go by and rent it out.
Thebrownblob
Well-Known Member
Oh my God, here’s another one that’s move in ready. You don’t even have to do anything not even 150 K. Keep sitting your hands.
That would be difficult to do in many states. Median means half of all homes cost less, half cost more. So you can certainly find cheaper houses. But the national average won't be $257k.
Thebrownblob
Well-Known Member
My 23-year-old son just recently bought his first home it was a repo and we put about 25K into he bought it for 79,000 put 30k down he was approved for the loan at 10% Current value is about 170k give or take.
Just about movie in ready
He is approximately 30 minutes away from me.
He plans to live there a few years, pay the mortgage down or off if possible, and then use it as a rental and move elsewhere.
Babagounj
Strength through joy
It's double that in my town.
What part of the country do you live in? From the Rockies over to the Pacific, the Northeast, pretty much Florida anymore, and major metro areas with good economies, would be tough to find something like that. My wife bought a nice enough home in Alton, IL for $139k. Same home in Overland Park, KS would've gone for twice as much. But Alton has high crime and you've got to drive into St.Louis 25 miles away for decent jobs and shopping.
Thebrownblob
Well-Known Member
Double that in my town too. That’s why I didn’t buy in my town until I could afford it. Bought my first house did almost nothing to it and sold it for about $50,000 more than I paid for it after five years. The next house, I did quite a bit of work too and sold it for almost 90,000 more after about four years.. the current home I live in I’ve lived in for about 16 years. Bought it for 250k in a brand new neighborhood that builders went bankrupt during the 2008 housing market crash making my property almost worthless as all the building stopped, in this neighborhood for about eight years and now it’s worth more than double what I paid for it.
Thebrownblob
Well-Known Member
It doesn’t really matter where I live. The point is you can find property if you want it for reasonable prices especially if you don’t have a job you’re tied to and you’re young and are willing to move to a different city.
I've lived in Florida, Tennessee, Mississippi, Texas, New Mexico, Arizona, Colorado, Nevada, Kansas, Connecticut, and Washington. Most of those places I wouldn't get a mortgage in because I'd be stuck there for awhile. But that's the cart before the horse. You've got to get a good job first to make it worth your while to move somewhere with cheap real estate. Otherwise you're working at Wal-Mart or McDonald's until you can find something.
I have no desire to live through cold winters anymore.
Thebrownblob
Well-Known Member
Trust me, I understand the cold winter thing especially right now
Doublestandards
Well-Known Member
Congrats you have your own place, so do I, most working adults do. Although I don’t have a lake house so you beat me there
It sounds like you got lucky when you moved in though, and so did I. I’m just saying the reason @rickyb cant afford a house probably does not have to do with him “keeping up with the joneses”
You said yourself a house you moved into and did nothing to raised in value $50,000 over 5 years.
You keep talking about moving, but the reason those houses are so cheap is probably because there is no work around the area
Doublestandards
Well-Known Member
the bank approved a loan for a repo?
And it sounds like he needed $55k in cash to get started? And got help from you guys?
Thebrownblob
Well-Known Member
Bank owned properties are not that difficult to get loans for. You’re thinking of auctions. Especially if you have money to put down like he did.
Really the only help he got from me was I didn’t charge him rent while he lived to as long as he was working and saving.
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i spoke with a 2 year degree nurse, and almost a director of healthcare, and they both concluded with me in a few decades you will not be able to move to afford housing because it will be unaffordable everywhere
Thebrownblob
Well-Known Member
Well, that settles it, I guess only a dumb truck driver will be able to figure out how to buy a house or multiple houses.
All the educated idiots won’t be able to
i thought the market would crash. i couldve bought a micro condo for 100k. i think its 300k now.
i agree with @Thebrownblob you can move somewhere affordable for now. but in the future i dont think that will be an option
you bought when the market was 50% less than it currently is. its just lucky timing as you admit. congrats on your gamble it paid off.Well, that settles it, I guess only a dumb truck driver will be able to figure out how to buy a house or multiple houses.
All the educated idiots won’t be able to
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