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I'm a Bay Area person... bought property and location that was out of favor.
When I bought my first home I did MLS searches for the least expensive homes in the Bay Area... I mean the cheapest single family homes listed for sale... didn't have any In with Brokers and was totally new to Real Estate other than I wanted to OWN in the worst way.
The absolute least expensive home was one scheduled for a condemnation hearing in East Oakland two blocks below East 14th... 570 square feet on a 25x100 square foot lot.
Took my life savings, sold my car and bought it.
Life Saving from 10 years working starting work at age 12
In general west coast real estate is worse than the rest of the country. Much worse, even compared to expensive east coast cities like Boston or New York. At least in New York you can drive to Jersey. There's nowhere within even super-commute distance that's affordable from San Francisco. Nowhere. I turned down jobs in the Bay Area because of that.
Percent of the population on Medicaid/CHIP: 22.8%
Percent of the population on Medicare: 13%
So there's already 35% of the country with socialized medicine paying either zero or almost zero
Another 10%+ are Federal, State, & Local public sector employees with most getting good family coverage at low cost
So I'm up to almost 50% of the country without starting to count corporate people. On average, employers pay 83% of employee health insurance premiums. Employees pay the difference with pre-tax dollars.
If health insurance costs are a big issue for you, you likely made some poor life decisions you should be reflecting on.
My husband is on medicare. He pays $480.00 per month for it, including supplement. Is that low cost to you?
Health insurance costs are an issue for many - has NOTHING to do with poor life decision. The affordable care act did away with that craziness. I need to check the date of your post. You are giving out info that was true prior to the ACA.
Part of my job is to buy health insurance for a business> where are you getting your info?
In general west coast real estate is worse than the rest of the country. Much worse, even compared to expensive east coast cities like Boston or New York. At least in New York you can drive to Jersey. There's nowhere within even super-commute distance that's affordable from San Francisco. Nowhere. I turned down jobs in the Bay Area because of that.
But but technology! Hipsters! Views! Other random things people use to justify living here!
In general west coast real estate is worse than the rest of the country. Much worse, even compared to expensive east coast cities like Boston or New York. At least in New York you can drive to Jersey. There's nowhere within even super-commute distance that's affordable from San Francisco. Nowhere. I turned down jobs in the Bay Area because of that.
NO dispute that housing dollars don't go very far in the SF Bay Area...
A one bedroom condo price is enough to buy a home elsewhere.
One of my friends just sold his mother's one bedroom townhome in Alameda... nice, safe area with SF Ferry Transportation nearby... sold in 3 days for 330k.. and that was 20k over asking...
35k down and 295k 30 year loan at $1280 per month and it would rent for $1650...
The question is will this home/rent increase or decrease in the future?
Homeowners have more net worth because they EARN more, not because they spend less on housing.
??? ??? ??? ??? got a cite for that? A substantial proportion of a homeowner's housing expenditures is retained by the homeowner in the form of home equity, while renters effectively p*** away their rent money.
freemkt's logic is as silly as saying Bentley owners are richer because they own the car . no ! they own the car because they are richer .
homeowners own homes as a by product of having more resources .
buying any appreciating asset with your money would work the same , even as a renter . in fact it might even work better
Another FAIL. Disregarding the infrequent example where the Bentley appreciates because its owner is a collector who maintains it in pristine condition, cars generally depreciate over time, while homes appreciate over time.
PLEASE give us some examples of appreciating assets which are accessible to the average renter.
Another FAIL. Disregarding the infrequent example where the Bentley appreciates because its owner is a collector who maintains it in pristine condition, cars generally depreciate over time, while homes appreciate over time.
PLEASE give us some examples of appreciating assets which are accessible to the average renter.
22 inch rims
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