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Old 12-27-2017, 11:08 PM
 
33,046 posts, read 20,708,082 times
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Quote:
Originally Posted by TuborgP View Post
Yes it helps fuel many a persons retirement.

Doesn't it also prevent others from being able to retire?
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Old 12-28-2017, 02:29 AM
 
33,046 posts, read 20,708,082 times
Reputation: 8928
Quote:
Originally Posted by WowJustWowSoTriggered View Post
Boomers have failed the system.

How so?
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Old 12-28-2017, 07:50 AM
 
Location: Fairfax County, VA
1,387 posts, read 600,855 times
Reputation: 2723
Quote:
Originally Posted by freemkt View Post
Doesn't it also prevent others from being able to retire?
Actually, they tend to do that to themselves. Trying to prevent someone else from retiring is actually kind of difficult, you know.
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Old 12-28-2017, 11:18 AM
 
Location: Holly Neighborhood, AUSTINtx
3,455 posts, read 5,090,042 times
Reputation: 2048
Quote:
Originally Posted by freemkt View Post
Doesn't it also prevent others from being able to retire?
No, it doesn't. As many other posters here have noted there are plenty of low cost housing opportunities out there. THIS IS A BIG COUNTRY WITH AN ECONOMY THAT IS STILL EXPANDING! If for example you are an assistant manager in a retail national chain you will have a plethora of options to go to that are less expensive than coastal cities.

One thing I do see as helping is more involvement at the state level in helping dial back overly regulated cities that want to restrict housing supply. Most zoning codes are unnecessary and provide negligible public benefit.
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Old 10-05-2018, 10:39 AM
 
6,996 posts, read 6,629,325 times
Reputation: 5274
Trustee's sales indicator


https://www.youtube.com/watch?v=a-CfI5cTQuQ

This market reminds me a lot of the late 80's with tax law change for owner-occupied housing versus investor-owned properties in the 80's and mortgage rates up about 1 1/2 to 2 percentage points in less than two years. The condos here took a big hit in the early 90's when the recession arrived, but there wasn't much impact on other residential real estate values as he states.
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Old 10-05-2018, 10:54 AM
 
1,236 posts, read 611,366 times
Reputation: 1688
Quote:
Originally Posted by mysticaltyger View Post
He has a credit/banking history, so that's not the issue. And like I said, he's got low 5 figures in savings. Cost of living in other places is low enough that he wouldn't need to live in government subsidized housing. He could probably go work in a casino in Vegas and earn more than $12 an hour, plus have a nicer everyday lifestyle. Instead, he just stays in his comfort zone here in the Bay Area, even though his life kinda sucks...a kind of steady, low grade misery.
Places with a low COL also tend to pay lower wages. If he is making $12.00 in The Bay area, he probably would be making $10.00 in Phoenix. But I agree with your premise - we do get "stuck", absolutely. Especially if someone has anxiety disorder or a job history that might make new employment difficult. You describe it well - "steady, low grade misery.". I have been there, it is accurate.
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Old 10-05-2018, 12:01 PM
 
1,293 posts, read 288,534 times
Reputation: 1126
Quote:
Originally Posted by freemkt View Post
California homeowners decided that "first movers" should be secure in their homes and not priced out by newcomers - so they passed Prop 13.

Why shouldn't first movers who rent have similar protection from being priced out by newcomers?
They often do. It's called rent control and it's partly why there ARE housing shortages. Because people who get into a rent controlled place don't move. I know someone who is making north of $200k and lives in a SF rent controlled apartment.
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Old 10-05-2018, 12:08 PM
 
1,293 posts, read 288,534 times
Reputation: 1126
Quote:
Originally Posted by freemkt View Post
Never said Prop 13 pays anyone - it merely protects incumbent homeowners from being priced out by newcomers.
No, it's more like younger homeowners are subsidizing older ones.
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Old 10-05-2018, 12:15 PM
 
6,103 posts, read 3,261,607 times
Reputation: 8333
Quote:
Originally Posted by freemkt View Post
Are those people sufficiently numerous as to be a significant factor? How many undocumented immigrants are in the county? Would the problem largely resolve if undocumented immigrants left?
No...but if more low wage earners were willing to accept the illegal immigrant way of life of sharing a house among a dozen or more people or living dorm style at the farm rather than insist on having a place to themselves may resolve the issue. Better than being homeless.
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Old 10-05-2018, 12:21 PM
 
Location: la la land
27,167 posts, read 11,338,839 times
Reputation: 19277
Quote:
Originally Posted by notnamed View Post
No...but if more low wage earners were willing to accept the illegal immigrant way of life of sharing a house among a dozen or more people or living dorm style at the farm rather than insist on having a place to themselves may resolve the issue. Better than being homeless.
The farms are gone, they were taken over by General mills remember? Almost all lower income people rent and landlords do not generally allow for the tenant to move in all of their friends and relatives.
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