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They are so bummed out and have given up ever owning a home...
Stupid me... I show them homes they can afford and they are flatly rejected... too far from Starbucks... NOT MAKING THIS UP... or wrong school district, crime, or any of dozens of reasons.
It's not that they cannot afford a home... it is they can't afford the kind of home in the kind of neighborhood they want and will not settle for anything less.
Never before have I met so many that are looking only for the perfect turnkey property in the perfect location...
And that is the rest of the story...
My first home was scheduled for a condemnation hearing before I saved it... there were boarded up homes in the neighborhood... didn't matter... I bought what I could afford and it proved to be the best financial move ever.
Lol, our first 2 homes were in depressed areas and we actually had friends comment to us, "Do you always have to buy homes that look haunted?"
I'm confused. You say you don't own anything worth more than $50... and then you say the rental income from extra rooms pays for the maintenance.
Please explain.
The immediate previous room I rented was in a house where the rent collector lived for free by renting out extra bedrooms, i.e. he paid $N to live there and collected $1.5N rental income from the rest of us.
The room I'm currently renting is in a house where the rent collector lives for free by renting out bedrooms.
I have never owned a home and enable the lifestyles of these people who live for free.
... which is why any household with a mere $20K in income -- a spectacular economic failure by every conceivable measure -- would never live in Beverly Hills, Atherton, or Palo Alto.
Wrong, just wrong. Kato Kaelin was able to live in Brentwood; if you have the right connections you can live in lofty environments without a boatload of money or even owning anything.
2016 POVERTY GUIDELINES FOR THE 48 CONTIGUOUS STATES AND THE DISTRICT OF COLUMBIA
PERSONS IN FAMILY/HOUSEHOLD POVERTY GUIDELINE
For families/households with more than 8 persons, add $4,160 for each additional person.
1 $11,880
2 16,020
I'm renting a 5 bedroom 2 bath home to 5 students/young adults.
They are all on their own and all working... the cost for housing including utilities and cable is $500 per person... rent also included bimonthly gardner and off street parking for 3 cars and a nice area they use to grow vegetables...
They are all great young adults, get along well... are friendly and welcoming and love living in a single family home setting...
This is in the SF Bay Area a few minutes from BART.
I'm renting a 5 bedroom 2 bath home to 5 students/young adults.
They are all on their own and all working... the cost for housing including utilities and cable is $500 per person... rent also included bimonthly gardner and off street parking for 3 cars and a nice area they use to grow vegetables...
They are all great young adults, get along well... are friendly and welcoming and love living in a single family home setting...
This is in the SF Bay Area a few minutes from BART.
Portland should send you some hipsters; renting from you would be cheaper than renting in Portland.
I make just a bit over the Federal Poverty level. I own a large house, lots of land, 4 vehicles, I make more than enough to support my family.
Two weeks ago our eldest son came by with his wife and infant, they are very caught up in the crisis around them. On my savings I can afford to simply buy them a 3bdrm house just to give to them if it would settle their hearts. We made the offer. But our daughter-in-law can not seem to extract herself from her fears.
Didn't you have a pretty good career before you retired to Maine? You're not really living fully off of current income wealth - you're also living in part off of prior wealth.
Didn't you have a pretty good career before you retired to Maine? You're not really living fully off of current income wealth - you're also living in part off of prior wealth.
I am a retired enlisted sailor. During my Active Duty career we invested in apartment buildings. When I retired sold properties and we used that equity to buy land and to build a house. Then in 2008/9 we lost the remaining apartment building and filed bankruptcy. We no longer own any other properties and that cash is gone, but we have no debt.
Our COL is less than my $1,480/month income, as we build savings we have been using it to make further improvements onto our house. Solar power [photovoltaic] to power our house last year and Solar Thermal to heat our house this fall.
My in-laws passed away this spring, we are dealing with that estate. Six months into it and the courts have not yet appointed PR / executor [though the will names us as executor]. It is from that estate money that we offered our son and his wife to buy a home for them.
I am a retired enlisted sailor. During my Active Duty career we invested in apartment buildings. When I retired sold properties and we used that equity to buy land and to build a house. Then in 2008/9 we lost the remaining apartment building and filed bankruptcy. We no longer own any other properties and that cash is gone, but we have no debt.
Our COL is less than my $1,480/month income, as we build savings we have been using it to make further improvements onto our house. Solar power [photovoltaic] to power our house last year and Solar Thermal to heat our house this fall.
My in-laws passed away this spring, we are dealing with that estate. Six months into it and the courts have not yet appointed PR / executor [though the will names us as executor]. It is from that estate money that we offered our son and his wife to buy a home for them.
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