https://www.wsj.com/articles/a-grow...-too-many-too-big-houses-11553181782?mod=e2tw
get your jollys on a monday.
get your jollys on a monday.
Boomers cant afford they houses. boo hoo
- Thread starter Dr.bannedman
- Start date
Are you a Wall Street Journal salesman?
I'm 59 and LOVE being at the tail end of the Boomers. everything is overbuilt by the time I want it. Housing, retirement facilities, healthcare, etc.
Who knew investing everything in a single, illiquid asset with huge upkeep costs and huge transactional costs if you ever want to move it when consumer preferences for locations and housing type can entirely change (and you can do little about it) and low real returns can end up being a really bad decision and investment sometimes.
Great news, I have lived in a very modest home in California, by passing upgrades and moving to a bigger house.. But when I retire in a couple of years, the plan is to splurge and build or buy a big house in Vegas or some such place.
Always on the lookout for a deal.
Always on the lookout for a deal.
As a recent empty nester, I can tell you that it's somewhat shocking how quickly you go from needing space to not needing space. Luckily, we tend to go for "just enough" in everything we buy, so our house isn't huge by any stretch, but it was instantly larger than we need once my boy moved out.
Why is housing so affordable in Vegas? I mean it's like dirt cheap compared to say Reno.
Because it sucks to live there.
Didn't the housing crisis a decade ago already tell us this information?
Because a lot of companies in San Francisco are putting offices in Reno to save $$
So you get people from San Francisco moving there, they may take pay cuts, but they probably still make more $$ than your average local Reno resident. Heck they get 13% more per check by not paying state taxes.
Reno is going to become another Silicon Valley in time I believe.. I think it is like a 4 or 5 hour drive from SFO to Reno.
I would like to move to Reno, because of the Mountains and forests nearby, and I have looked but you cannot get the same kind of house for the $$ that you can in Vegas.
Looked at like Carson City and that area too, a tad better, but you have the state government location that drives up prices there.
Still love the state, (California) but when you pay 13% state income tax, 10% sales tax, and one of the highest gas taxes in the country, it is not a place one wants to retire in.
I have also looked at Texas, Arizona, Heck even looked to moving back Iowa, but living in a mild climate during November to March for the past 30 years has made me pretty soft
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Somebody missed the memo.
The median home is as overpriced relative to median income now as it was in ~2005.
This goes hand in hand with the reverse mortgages that were so popular some years ago. Can't believe people didn't really find out what happens in those things, and say "Yeah, right."
Hard knocks Rule #1: If it sounds too good to be true, it is.
Hard knocks Rule #1: If it sounds too good to be true, it is.
Doubt it you are too stupid to be employed at all.
Somebody missed the memo.
The median home is as overpriced relative to median income now as it was in ~2005.
I look around the DSM Metro and I seriously don't know how people do it. My wife and I both make good money and I can't fathom taking on that kind of debt.
It is hot not doubt. Pools and A/C, pools and A/C
Plus it now has 2 professional sports teams, a gazillion great restaurants and all kinds of concerts and other entertainment avenues.
Let the banks take them back. Have the banks write them off as a yuge loss and give them to some charitable organization* for immigrant worker housing. Can have all of the gardeners and other day labors living in nice multi million dollar digs. Five or six bedrooms with six baths can house a lot of families! And the kids would have a pool. 
I should probably make this housing and immigration reform the basis for my presidential run in 2020.
* @cyrocksmypants bemoans the housing situation a lot so he can go to work for the charity and be the house dad. Part of his deal would be one of the bedrooms and a reserved garage space. FTW.
I should probably make this housing and immigration reform the basis for my presidential run in 2020.
* @cyrocksmypants bemoans the housing situation a lot so he can go to work for the charity and be the house dad. Part of his deal would be one of the bedrooms and a reserved garage space. FTW.
I'm flirting with the idea of moving to Tuscon in a few years. I was surprised how cheap it was even compared to Phoenix(which I think is pretty affordable). I'd move to Austin if union wages weren't garbage there.Because a lot of companies in San Francisco are putting offices in Reno to save $$
So you get people from San Francisco moving there, they may take pay cuts, but they probably still make more $$ than your average local Reno resident. Heck they get 13% more per check by not paying state income taxes.
Reno is going to become another Silicon Valley in time I believe.. I think it is like a 4 or 5 hour drive from SFO to Reno.
I would like to move to Reno, because of the Mountains and forests nearby, and I have looked but you cannot get the same kind of house for the $$ that you can in Vegas.
Looked at like Carson City and that area too, a tad better, but you have the state government location that drives up prices there.
Still love the state, (California) but when you pay 13% state income tax, 10% sales tax, and one of the highest gas taxes in the country, it is not a place one wants to retire in.
I have also looked at Texas, Arizona, Heck even looked to moving back Iowa, but living in a mild climate during November to March for the past 30 years has made me pretty soft