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Old 11-30-2017, 08:03 AM
 
Location: Ruidoso, NM
5,170 posts, read 4,734,508 times
Reputation: 4206

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Quote:
Originally Posted by Hemlock140 View Post
They are not having any trouble with that though, because of the growing number of high pay jobs in the Seattle area, but that adds to the demand and keeps the prices going up even more.
I say, leave it to them! Save your money, sell, and move some place a little less "popular".

I understand that's difficult when you get attached to people and things in your area, but change of scenery also brings new perspectives. At any rate, things are always changing!
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Old 11-30-2017, 08:25 AM
 
Location: Tennessee
20,987 posts, read 15,296,258 times
Reputation: 23788
Quote:
Originally Posted by Hemlock140 View Post
According to that NY Times chart we are in the top 16%, but our income is about $50k/year under the median household income in our city which is the top 7%. We could never afford to buy our house at the current value, fortunately it was right in our price range when we bought it 24 years ago so our mortgage payment is less than half of what people moving in around us have to pay. They are not having any trouble with that though, because of the growing number of high pay jobs in the Seattle area, but that adds to the demand and keeps the prices going up even more.
You are in an affluent city.

At some point, the real estate appreciation is likely to outpace worker wages, and there will be some pullback. Metro Seattle hasn't hit this inflection point yet. With enough foreign wealth pouring it in, it may not happen for a long-time to come.
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Old 11-30-2017, 09:39 AM
 
698 posts, read 383,476 times
Reputation: 854
Quote:
Originally Posted by rruff View Post
I say, leave it to them! Save your money, sell, and move some place a little less "popular".
The list of things that make a place "a little" less popular can be a very discouraging one. In fact, if you've lived in one place for any length of time and "put down roots" there, the idea of moving at all can sound like something out of a horror movie. Why would anyone want to tear down what they'd spent a lifetime building up?
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Old 11-30-2017, 09:42 AM
 
698 posts, read 383,476 times
Reputation: 854
Quote:
Originally Posted by Serious Conversation View Post
You are in an affluent city. At some point, the real estate appreciation is likely to outpace worker wages, and there will be some pullback. Metro Seattle hasn't hit this inflection point yet. With enough foreign wealth pouring it in, it may not happen for a long-time to come.
As long as our trade deficits persist, there will be plenty of "foreign wealth" looking for dollar-denominated assets to invest in.
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Old 11-30-2017, 09:47 AM
 
Location: Ruidoso, NM
5,170 posts, read 4,734,508 times
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Quote:
Originally Posted by VendorDude View Post
Why would anyone want to tear down what they'd spent a lifetime building up?
What exactly does this "build up" consist of?

I guess I feel like new people and places are stimulating and interesting. Challenging maybe. Shakes things up a bit. Kind of an adventure.
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Old 11-30-2017, 10:19 AM
 
698 posts, read 383,476 times
Reputation: 854
Quote:
Originally Posted by rruff View Post
What exactly does this "build up" consist of?
I'm stunned that anyone would need to ask. "Putting down roots" involves learning how to live in a particular place while establishing such as professional, social, religious, recreational, educational, medical, and perhaps charitable networks within it. These are the sorts of things that provide depth and richness to life. You can't just pull up stakes and go find those sorts of things off somewhere in the wild and sterile world of East Cheapsburg.

Quote:
Originally Posted by rruff View Post
I guess I feel like new people and places are stimulating and interesting. Challenging maybe. Shakes things up a bit. Kind of an adventure.
Hint: Perillo Tours.
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Old 11-30-2017, 11:40 AM
 
9,094 posts, read 3,711,228 times
Reputation: 13393
Quote:
Originally Posted by rruff View Post
I say, leave it to them! Save your money, sell, and move some place a little less "popular".

I understand that's difficult when you get attached to people and things in your area, but change of scenery also brings new perspectives. At any rate, things are always changing!
so... if the us becomes unpopular by global standards, we will have immigrants flocking to the us?
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Old 11-30-2017, 12:11 PM
 
Location: Gilbert, Arizona
2,600 posts, read 1,007,385 times
Reputation: 1557
Quote:
Originally Posted by freemkt View Post
"The president of an employer group in California's Silicon Valley offered advice about housing to leaders in Oregon's Silicon Forest, where a 2016 study estimates that Washington County is at least 14,000 homes short for lower-income people."

Has the market (and capitalism) failed, or has government failed?
Both.

Local regulations and opposition (neighbors) dictates new construction of housing.
If any existing land is available to use.
And the market itself drives development.

San Francisco/NYC is ground zero for seeing all those 3 factors in action.
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Old 11-30-2017, 12:36 PM
 
5,221 posts, read 2,380,595 times
Reputation: 5111
If people demand $.25 haircuts and $.50/gallon gasoline, but no one sees fit to provide such, is it a failure of the market (and capitalism)?

Just a thought. . .
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Old 11-30-2017, 12:55 PM
 
9,094 posts, read 3,711,228 times
Reputation: 13393
Quote:
Originally Posted by TaxPhd View Post
If people demand $.25 haircuts and $.50/gallon gasoline, but no one sees fit to provide such, is it a failure of the market (and capitalism)?

Just a thought. . .
they think the opposite, no one providing them $15/hr jobs so they want it as minimum wage to force it
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