posted on July 6, 2004 11:41:12 AM new
Are single family homes on the way out? I've noticed a BIG trend in bigger apartment buildings and condos - they're everywhere now. The only SFH's being built are these huge 5000 sq. footers that have 10 feet of space between the houses. I can't figure out how people can afford these homes or how young people are suppose to get into the housing market these days. They are almost forced to buy a condo, which they have to pay monthly condo fees on, so they'll never have their own place. Is it the same where you live?
posted on July 6, 2004 11:45:43 AM new
Many of the condo/apartment markets are being driven by empty nesters and single women. Neither want to mess with maintenance.
posted on July 6, 2004 12:06:07 PM new
I probably should have said middle class single family homes. It's either condos and apartments, OR these massive houses.
Same here Dave. So much land is being eaten up, it's frightening. I live in a village on the outskirts of the city - all farm land for 10 miles. Now there's a Walmart and a Sam's Club 2 miles away with these big highrise apartments all around them. They're ripping up blocks of older houses and replacing them with condos, making the middle class choose between "renting" a condo or maxing out your finances on a big house you can't afford. The middle class is on the way out here.
posted on July 6, 2004 12:38:31 PM new
Krafty - I wish I could show you a copy of the map that was just sent out to downtown reesidents so that you could see what we are going thru. 59 Residential Buildings going up - most are condo. Another 9 "Mixed Use" which are high rises with condos on the higher floors. All of this is within a circle that I can walk in 30 minutes ( ithought the total new units would be 5k but after looking at all the planned projects starting this year the actual number is nearly 10,000 new unit downtown).
Multi family units are a way for developers to get the absolute biggest bang for their buck. Why build 10 homes on a tract of land when you instead build 400 condos with 20 retail spaces at ground level?
You also have to consider that as the economy weakens and people lose jobs, they tend to move in towards heavily populated areas where there are more job opportunities which creates more demand for lower priced housing in those area (by lower priced in this are you are reffering to a 250K condo over a 600K house).
Ironically one of the sidelines of that is higher employment rates in the construction fields. Electricians, Welders, etc right now can almost name their price here right now.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on July 7, 2004 05:33:18 PM new
Our green space is being eatin up by new homes. it's unbelieveable. Our schools are over crowded by the influx of the Illinois people moving to the state. It is getting out of hand and I don't see an end to it. Maybe with the rising interest rates things will slow down. I sure hope it does.
It's like a snowball effect families move here and build $300,000.00 homes. Schools then get overcrowded so new schools have to be built, roads can't handle the amount of cars so they have to build new roads. Who gets it the taxpayer who is trying to save their money for retirement after they have been scrimping all their lives.
posted on July 9, 2004 07:40:58 AM new
National builders have been building affordable single family homes for years,thanks to low interest rate.
All you have to do is check their stock price and their earning reports,prominent ones such as Hovanian enterprise,Toll brothers,Kimball etc
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on July 9, 2004 07:56:12 AM new
Libra, I would have to agree with you. The town I live in had 9,500 people when I moved there in 2000. Now we have close to 20,000 people. All the farmland is being turned into housing or shopping. All the two-lane roads are being rebuilt into four lanes so they can handle the increased traffic. In the past four years a new high school, 2 middle schoold and 3 elementary schools have been built.
Let's have a BBQ, Texas style, ROAST BUSH
------------------------------
All Things Just Keep Getting Better
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We the people, in order to form a more perfect Union....
.....one Nation indivisible, With Liberty and Justice for ALL.
posted on July 9, 2004 08:02:02 AM new
No matter what you WANT to blame it on when all the hubbub is over it comes down to the one word that nobody wants to say...the big "O" word, OVERPOPULATION.
posted on July 9, 2004 09:12:34 AM new
::Schools then get overcrowded so new schools have to be built, roads can't handle the amount of cars so they have to build new roads. Who gets it the taxpayer who is trying to save their money for retirement after they have been scrimping all their lives. ::
More abortions would solve all of this.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on July 9, 2004 09:51:52 AM new
Stopwhining- Not here it is tough to sell an older home. Young, what ever they call them these days, want the best they can buy or charge. They need those big homes for prestige with the SUV's in the driveway. Swimming pool in the back yard. An acre for the house to sit on. Boats, Jet skies and the list goes on and on. Then both go to work and want us taxpayers to pay for after school programs so they don't have to pay for baby sitters. You have to remember big is best, at least to them, and the older homes are small. The homes around here are as big as a small castle, some have elevators. The only people that buy older homes are older people then when they buy them thay can't afford the taxes.
posted on July 9, 2004 10:03:46 AM new
i agree ,the new houses are tough to compete,but new houses inside a subdivision have assoc fee and deed restrictions,not every one likes that.
This year 80 homeowners did not pay their assoc fee where i live.
How about the land of those old houses??
i bet the price goes up.
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on July 9, 2004 10:08:39 AM new
Stop - you have to understand - Libra has developed a deep resentment towards young people and fantasy complex about how they all live. If you read a preponderence of her posts you will find you will find an ongoing thread of resentment and a tendency to give them all high priced high tech toys and then smack them down for it.
Note that somehow working hard in order to attain things that you desire is somehow made to be a sinister trait in these posts. Please note also that younger people who live above their means are shallow and irresponsible. Older people that do the same are victims.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
[ edited by fenix03 on Jul 9, 2004 10:09 AM ]
posted on July 9, 2004 12:02:14 PM new
i live in a subdivsion which is 2 years old and eventually there will be 1500 homes.
Yes the street will turn from 2 lanes to 6 lanes by 2007,property tax has gone up a little.
I know my neighbors do not live a high liftestyle,no fancy cars or boats .
They are here because the price is right,the ones helen described are not first time homeowners,they sold their first home for good money and use them to buy a better home in established areas.
I do not ask personal question,but after paying all their bills,there aint much left to pursue an extravagant liftstyle,unless you call a trip to BASKINS ROBBINS high style!!
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
[ edited by stopwhining on Jul 9, 2004 12:04 PM ]
posted on July 9, 2004 12:22:42 PM new
Overpopulation - my favorite subject Crowfarm!
I have to agree with Libra. It's very similar here too. Young people want these really expensive first homes with all the goodies, right off the bat. They owe the bank their lives but they LOOK successful. Their biggest mistake is thinking they'll never lose their jobs.
posted on July 9, 2004 12:36:06 PM new
I agree with Dave Letterman's mom,AKA Libra!
Did you see that libra?
Stopwhining says, "Libra,
but when the oldies are ready to retire,they have a choice of selling their homes for much more"
The ugly side of this is that for most "oldies" THERE AIN'T ANY CHOICE!
I worked very hard for 35 years and have my home paid off but will I be able to enjoy it when I retire.. phuck NO!
I won't be able to pay the ungodly property taxes, buy medicine, buy food or heat the damn place all at once!
I just had to loan an elderly aunt money to pay her taxes.
Just wait until you get to be an "oldie"(there's only one other option) and see the choices you're going to face.
Sure, I can sell the place but I,ve lived here 35 years because I like it...I like it better than any other place I've ever been....I don't want to go but I'll have to and then hope like crazy that the profits will last until I die! Or I kill myself before the money runs out. Nice thing to be able to look forward to!
[ edited by crowfarm on Jul 9, 2004 12:36 PM ]
posted on July 9, 2004 12:48:07 PM new
Krafty - there are other reasons to purchase a new home over an older home. With a new home you know that the pipes are not going to burst six months later requiring a major investment in repairs. You know the the pipes did not burst 6 months earlier and after subpar cleanup have resulted in toxic mold issues that will devestate your homes value. You know that termites and not an issue, modern energy saving measures are in place, there are no cracks in hthe foundation from shiftying earth over the past decade, safeguards are put into place dto insure that you don not end up wit a cracked foundation depending on your location, etc, etc, etc...
Most people start thinking that the time has come to sell their home about the same time that it starts to fall apart. Why invest your future in the past someone else has decided to get rid of?
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
[ edited by fenix03 on Jul 9, 2004 12:50 PM ]
posted on July 9, 2004 01:00:05 PM new
so what is the solution?dont let them build any houses,let them bid up the existing homes thru the roof??
or stay in an apt forever and eat their heart out??
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on July 9, 2004 01:09:36 PM new
very true,fenix.
I bot a new house 2 years ago and knock on wood,i have no problem with roof,foundation,pipes or walls.
I did have some problem with the land behind my backyard ,i have to spent some money to sod it so it wont get washed away,small price to pay.
You know,people get sick,house get sick,car get sick,lots of bills to pay.With a new house,at least you know it wont get sick so SOON!!
Same can be said for cars,why do people trade in their old car for new car????
may be something just aint right ????
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on July 9, 2004 01:36:46 PM new
Oh I agree with you Fenix, but the new homes here start at around $300K, OR you can pick a new condo for $175K. I know what you mean too about older homes not always being up to code but that leaves very few options for the middle class & lower income people, especially older people. It's like the beat goes on, but only if you're rich.
Crowfarm, or you could end up pennyless in a nursing home just because you're OLD, with a family that can't afford to take care of you because they still owe the bank millions.
posted on July 9, 2004 01:39:24 PM new
My sister bought a 5 year old home in the upper 400's and the first spring the basement wall washed out, windows rotting,something else I can't remember.
My 1918 house has had it's share of problems but they came with age NOT shoddy but expensive workmanship.
posted on July 9, 2004 01:56:27 PM new
Yes but Crow - she got to sue the hell out of the both the developer and the builder in such a case. New homes come with warranties. Technically, if an entire wall washed out you also have issue with the city since the construction of that wall was inspected and approved as up to code by a city building inspector before the next stage of building was intiated.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on July 9, 2004 02:19:51 PM new
I have the opportunity to see a lot of houses on the weekend when I go to estate sales. You would be amazed at the number of fairly new and expensive houses priced over a million that are built more cheaply than the older ones. Sometimes when you walk down the hallway covered with very thick carpet, the floor squeaks! If I had to buy another house, I would consider an older one very seriously. They have more character, the problems have been worked out and they are generally better built than the newer houses.
Real estate is a great investment. When the house is too old, the land is still valuable. In fact, some of the homes that I see are scheduled to be bulldozed so that a newer house can be built on the lot.
posted on July 9, 2004 02:41:09 PM new
Helen - I think the most important thing that new home buyers need to know is that from the time they sign the contract on the build, the builder works for them. There are companies that you can hire now that do independent inspections at different stages of the build. They submit their list of findings to you and you as the buyer present the list to the builder who has to fix them before they move on. It is important to have independent oversight in such a huge investment but only an extrremely small percentage of people actually take that extra step. Most of these services cost 1% or less of the purchase price of the home - definaely a worthwhile investment.
If I was in the market for a home I would either custom build with an independent inspector or find something from turn of the century - much more interesting architechture.
~~~ • ~~~ • ~~~ • ~~~ • ~~~
If it's really "common" sense, why do so few people actually have it?
posted on July 9, 2004 03:06:14 PM new
Good information, fenix! Anyone building a new home without such inspection could be very unhappy with the finished product. Besides that, some problems resulting from shoddy products or building techniques don't manifest themselves for three or four years so that extra assurance that the building is sound by an independent inspector is valuable and worth the cost.
posted on July 9, 2004 03:41:33 PM new
Fenix yes I do have a problem with young people pricing themselves out of the lifestyle. I am not afraid to mention that either because I know that some people also do object to that. But I did not mention the statement you made about abortion. As you seem to get than in as much as you can. I do not want to pay for after school programs that will only benefit the two family worker that is living beyond their means. Is that hard to understand. When we raised our daughter, now we only had one because we were living within our means, we made sure that we could afford what we bought and what we could give her. She has no student loans as we paid for her education. If we would have had more than one it would have been difficult. There is no free lunch any more, Well at least not for adults.
Back to housing.....
The lots on the older homes are rather small, but pricey. Their taxes are high and of course they are not the mansions they are building now. We have had some terrific storms here this spring and I can truly say those expensive homes did not stand up to the wind and rain. Lots of repairs to them. But each to his own choice and what is good for one is not good for another.
