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Old 07-30-2017, 01:17 PM
Status: "On The Lookout" (set 22 days ago)
 
Location: The Triad (NC)
28,391 posts, read 61,765,972 times
Reputation: 31937

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Quote:
Originally Posted by charlygal View Post
OP, you never stated how much rent you can afford.
Like too many who don't really consider the question...
the OP really doesn't know how much they can afford.

The scary ones are those who don't want to know...
who will fight tooth and claw to avoid that reality settling in.

Quote:
"High" rent is a matter of perspective.
Not really.

Affordable is a mostly objective number in direct proportion to net income.
High is pretty much any number above that level.
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Old 07-30-2017, 01:19 PM
 
26,579 posts, read 52,055,370 times
Reputation: 20358
Again... rent is tied to what it costs to purchase.

If rents are too high in relationship to the cost of purchasing... many will buy... especially if renting single family homes.

One can almost always "Rent" in the short term in a better neighborhood, school district, location than buy the same.
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Old 07-30-2017, 03:24 PM
 
11,024 posts, read 8,447,177 times
Reputation: 27749
Quote:
Originally Posted by MrRational View Post
Like too many who don't really consider the question...
the OP really doesn't know how much they can afford.

The scary ones are those who don't want to know...
who will fight tooth and claw to avoid that reality settling in.


Not really.

Affordable is a mostly objective number in direct proportion to net income.
High is pretty much any number above that level.
Then we don't have enough information to accurately answer the OP's question. There are many places with good weather and jobs but it doesn't mean the OP can afford living there. Is the OP being priced out at $600 a month or at $2600 a month?
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Old 07-30-2017, 03:32 PM
Status: "On The Lookout" (set 22 days ago)
 
Location: The Triad (NC)
28,391 posts, read 61,765,972 times
Reputation: 31937
Quote:
Originally Posted by charlygal View Post
Then we don't have enough information to accurately answer the OP's question.
Not specifically... but why should this thread be expected to be different than any other?
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Old 07-30-2017, 03:48 PM
 
21,112 posts, read 30,189,612 times
Reputation: 19474
Quote:
Originally Posted by 98IndyPacecarguy View Post
Florida.
Oh god no...Florida is leading the nation with income inequality versus rental housing costs.
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Old 07-30-2017, 05:28 PM
 
Location: The Greater Houston Metro Area
8,985 posts, read 14,626,449 times
Reputation: 14868
Quote:
Originally Posted by Ultrarunner View Post
Again... rent is tied to what it costs to purchase.

If rents are too high in relationship to the cost of purchasing... many will buy... especially if renting single family homes.

One can almost always "Rent" in the short term in a better neighborhood, school district, location than buy the same.
Sometimes areas can be different. You can have a mortgage payment here for about $1250 (P & I, insurance and taxes) on the same house that would rent for $$1650-1700.

I have had clients from Denver tell me it is the opposite there.

I think the loosey-goosey lending practices prior to 2008 SHOULD have given a lot of people a chance to own that they now don't really have with stricter lending guides. Unfortunately, most blew it (hence the number of foreclosures thereafter) when they either bought too high above their means or didn't make the payments on loans that were within their means. Something odd about people is some HAVE to have that demanding landlord - or they won't pay. When no one came demanding payment, they let one payment get behind, then two, and it went to hell from there. So now they pay $1650 in rent on a house that they could have owned for $400 per month less.
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Old 07-30-2017, 07:16 PM
 
1,625 posts, read 587,021 times
Reputation: 1678
Speaking of Denver, that city is experiencing a huge growth in economy and population, probably the greatest in the nation. There should definitely be many jobs in education and healthcare. The climate is also the best, the surrounding nature is spectacular. The real estate seems not to be cheap (although it is not among the most expensive cities either), but there must be good deals in some parts of the city (I am not that deeply familiar with Denver housing, but am sure somebody on Denver threads could offer the info). It seems like a very safe city overall, I have not seen any very scruffy areas really.
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Old 07-31-2017, 12:08 AM
 
11,898 posts, read 20,307,876 times
Reputation: 19216
Pittsburgh PA.
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Old 07-31-2017, 01:10 AM
 
26,579 posts, read 52,055,370 times
Reputation: 20358
Quote:
Originally Posted by cheryjohns View Post
Sometimes areas can be different. You can have a mortgage payment here for about $1250 (P & I, insurance and taxes) on the same house that would rent for $$1650-1700.

I have had clients from Denver tell me it is the opposite there.

I think the loosey-goosey lending practices prior to 2008 SHOULD have given a lot of people a chance to own that they now don't really have with stricter lending guides. Unfortunately, most blew it (hence the number of foreclosures thereafter) when they either bought too high above their means or didn't make the payments on loans that were within their means. Something odd about people is some HAVE to have that demanding landlord - or they won't pay. When no one came demanding payment, they let one payment get behind, then two, and it went to hell from there. So now they pay $1650 in rent on a house that they could have owned for $400 per month less.
They sure did and the problem almost all those I encountered is they were serial refinancers...

Just too easy to use the roof over your head as an ATM for life's luxuries.

Had a friend that paid 200k for his home and refied 7 times in ten years and then walked away with a 650k loan balance and blamed the lenders for letting him borrow... honest.

The bank sold that 650k home for 350k... and now it is worth maybe 725k... and it could still be his if he had exercised a little restraint.

About the demanding landlord... I have been accused of coddling tenants... I knew when payday was and would show up on the doorstep to collect.

When the accounts were reallocated several of those didn't last 6 months... the new property manager "Bent over Backwards" according to him by providing addressed and stamp envelopes to remit rent payments... simply too easy to ignore... some of the others bought brand new cars and soon found themselves short on rent money...

I guess I'm guilty as charged... a coddler
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Old 07-31-2017, 11:56 AM
 
Location: The Greater Houston Metro Area
8,985 posts, read 14,626,449 times
Reputation: 14868
Quote:
Originally Posted by Ultrarunner View Post
They sure did and the problem almost all those I encountered is they were serial refinancers...

Just too easy to use the roof over your head as an ATM for life's luxuries.

Had a friend that paid 200k for his home and refied 7 times in ten years and then walked away with a 650k loan balance and blamed the lenders for letting him borrow... honest.

The bank sold that 650k home for 350k... and now it is worth maybe 725k... and it could still be his if he had exercised a little restraint.

About the demanding landlord... I have been accused of coddling tenants... I knew when payday was and would show up on the doorstep to collect.

When the accounts were reallocated several of those didn't last 6 months... the new property manager "Bent over Backwards" according to him by providing addressed and stamp envelopes to remit rent payments... simply too easy to ignore... some of the others bought brand new cars and soon found themselves short on rent money...

I guess I'm guilty as charged... a coddler
You weren't a coddler - you just simply understood their mentality. Some are just born without the common sense gene - or the responsibility gene. That time prior to 2008 should have been a spring board for people in terms of home ownership. Now they will remain renters for the rest of their lives, unfortunately.

That landlord, after you, gave them stamped envelopes that the tenants ignored - mortgage companies don't even do that - so it is very easy for them to ignore.....until the sheriff shows up to put their stuff on the street.
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