Maryland Still The Richest State...... (North Beach: mortgage, how much, buying a house)

[bufflove]

Originally Posted by andrew_s

I dont want ANYTHING handed to me that I didnt earn myself. I just would like there to be less "affluence" or "gentrification" or whatever you want to call it. Folks that live bellow upper middle class should be able to live confortably in decent neighborhoods as they did 10+ years ago. Just isnt the case anymore.

So...what's the answer? Wanting there to be less "affluence" (no idea what we're putting that in quotes for) means we should ban wealthy people from living in MD? Or we should take away their wealth from them? Or we should take away their jobs? Or we should require that their jobs pay less?

[westsideboy]

Originally Posted by bufflove

So...what's the answer? Wanting there to be less "affluence" (no idea what we're putting that in quotes for) means we should ban wealthy people from living in MD? Or we should take away their wealth from them? Or we should take away their jobs? Or we should require that their jobs pay less?

I am not sure there is an answer, at least not one I would support.

I understand the lament though. Maryland has changed so much, so fast, that people who were born into rural, affordable areas, now find their multi-generational home places unrecognizable. In many cases, the folks born there can't even afford to live on land that has been part of their identity since the founding of our country.

This is tough on people. Being from a community with a similar sense of "place" I get it, it would suck.

I read a lot of your posts, but I haven't been able to figure out where your from, when you moved here, heck even where you live. Not that this matters, you are free to be anomymous, but often times knowing the history and backgrounds of people help us understand each other better.

In the case of MD, the extreme difference between the multi-generational locals and the transplants is often due to this kind of misunderstanding. People who consider home where they hang their hat and have never really experienced what it means to be part of a deeply rooted community don't understand the frustration of those that see their homes changed so fast by people who largely don't care (not saying any of this applies to you personally, like I said, I don't know your story.)

The opposite is also true. Being a rooted person myself, I really struggle to understand the transplant mentality. One of the biggest gifts I am giving my kids is the chance to be part of 200+ years of constant habitation, influence, and belonging in a very specific and unique corner of the world. The fact that others perseverate over income, commute times, school districts, updated kitchens etc., and allow these factors to determine where they live seems very hollow to me. I admittedly don't get it.

This is why I am strong proponent of regional consideration in state government. People in different places have different wants and needs, and one of the strongest desires among rural people is the opportunity for enough growth so that our descendents and continue on our traditions.

How to control this growth in a way that serves both the locals and the new blood moving in is a much harder question. For much of the state, this ship has already sailed, hence the laments.

[Richard Martin]

Originally Posted by ay jayy

Builders don't build affordable housing unless they are forced to. They want to maximize profit. Why would a builder build a $200k house when they can build and sell a $700k house on the same land? Its not gov't making housing expensive in MD, its supply and demand.

This is just simply not true. Like I said, in many other locations the builders are building affordable housing. And it's not because they're forced to. It's because they can build them, sell them and make a profit.

Government's many, many regulations make it very expensive to build in most parts of Maryland. When we bought our house here in NC we paid about $300 in transfer taxes. In Maryland a similarly priced house would cost $2,750 in transfer taxes alone. It's not an accident that the middle and lower classes are being pushed out of Maryland. It's by design.

[bufflove]

Originally Posted by Richard Martin

This is just simply not true. Like I said, in many other locations the builders are building affordable housing. And it's not because they're forced to. It's because they can build them, sell them and make a profit.

Government's many, many regulations make it very expensive to build in most parts of Maryland. When we bought our house here in NC we paid about $300 in transfer taxes. In Maryland a similarly priced house would cost $2,750 in transfer taxes alone. It's not an accident that the middle and lower classes are being pushed out of Maryland. It's by design.

That's remarkable how deep in the sand your head is. How can you pretend supply and demand don't exist? Pointing to transfer fees is absurd (cost is between .5%-1.5%, depending on county, and usually split between buyer and seller); it's the definition of negligible, when considering the cost of homeownership. You're simply proving how nonsensical your claim is if that's the best example you've got. A house in Bethesda will sell for $3M because that's what the market says it's worth. A house in NC will sell for $100K because that's what the market says it's worth. Period. If Bethesda becomes less in-demand then the price will fall. If NC becomes more in-demand then the price will rise.

[pokeable]

Originally Posted by Richard Martin

This is just simply not true. Like I said, in many other locations the builders are building affordable housing. And it's not because they're forced to. It's because they can build them, sell them and make a profit.

Government's many, many regulations make it very expensive to build in most parts of Maryland. When we bought our house here in NC we paid about $300 in transfer taxes. In Maryland a similarly priced house would cost $2,750 in transfer taxes alone. It's not an accident that the middle and lower classes are being pushed out of Maryland. It's by design.

Developers build low-income units in MoCo developments because it allows the builder to skirt MoCos property density laws.

Regulations contribute, (such as Howard County's farmland protection laws limiting how much western HoCo land can be turned into housing) but it really is supply and demand. A 1 acre lot in Clarksville or Potomac will cost a fortune because of the demand, not regulations.

[the resident09]

Originally Posted by andrew_s

The DMV is also the hardest place in the world to liv3 finacially comfortable.

??? Lol what? Sounds like you need to travel more.

[North Beach Person]

More insight about the "wealthiest state". I especially liked the reference to "tony millionaire suburbs" in the first paragraph.

Post Local: Washington, DC Area News, Traffic, Weather, Sports & More - The Washington Post

[andrew_s]

Originally Posted by westsideboy

I am not sure there is an answer, at least not one I would support.

I understand the lament though. Maryland has changed so much, so fast, that people who were born into rural, affordable areas, now find their multi-generational home places unrecognizable. In many cases, the folks born there can't even afford to live on land that has been part of their identity since the founding of our country.

This is tough on people. Being from a community with a similar sense of "place" I get it, it would suck.

I read a lot of your posts, but I haven't been able to figure out where your from, when you moved here, heck even where you live. Not that this matters, you are free to be anomymous, but often times knowing the history and backgrounds of people help us understand each other better.

In the case of MD, the extreme difference between the multi-generational locals and the transplants is often due to this kind of misunderstanding. People who consider home where they hang their hat and have never really experienced what it means to be part of a deeply rooted community don't understand the frustration of those that see their homes changed so fast by people who largely don't care (not saying any of this applies to you personally, like I said, I don't know your story.)

The opposite is also true. Being a rooted person myself, I really struggle to understand the transplant mentality. One of the biggest gifts I am giving my kids is the chance to be part of 200+ years of constant habitation, influence, and belonging in a very specific and unique corner of the world. The fact that others perseverate over income, commute times, school districts, updated kitchens etc., and allow these factors to determine where they live seems very hollow to me. I admittedly don't get it.

This is why I am strong proponent of regional consideration in state government. People in different places have different wants and needs, and one of the strongest desires among rural people is the opportunity for enough growth so that our descendents and continue on our traditions.

How to control this growth in a way that serves both the locals and the new blood moving in is a much harder question. For much of the state, this ship has already sailed, hence the laments.

This.

Originally Posted by Richard Martin

This is just simply not true. Like I said, in many other locations the builders are building affordable housing. And it's not because they're forced to. It's because they can build them, sell them and make a profit.

Government's many, many regulations make it very expensive to build in most parts of Maryland. When we bought our house here in NC we paid about $300 in transfer taxes. In Maryland a similarly priced house would cost $2,750 in transfer taxes alone. It's not an accident that the middle and lower classes are being pushed out of Maryland. It's by design.

And this.

Originally Posted by the resident09

??? Lol what? Sounds like you need to travel more.

I dont want to! My family has been living in Virginia and Maryland for hundreds of years. The DMV is OUR HOME! I know there are places that are expensive or tough to live in but youd be hard pressed to find a salary to cost of living disparity as large as it is here.

[Richard Martin]

Originally Posted by bufflove

That's remarkable how deep in the sand your head is. How can you pretend supply and demand don't exist? Pointing to transfer fees is absurd (cost is between .5%-1.5%, depending on county, and usually split between buyer and seller); it's the definition of negligible, when considering the cost of homeownership.

No, you simply do not understand what or who affordable housing should be built for. It's for those people that an extra $1,000 increase in closing costs will make a difference between owning and not owning. You are clearly in the privileged class if you find the transfers taxes in Maryland negligible.

You ARE part of the problem.

[pokeable]

Originally Posted by Richard Martin

No, you simply do not understand what or who affordable housing should be built for. It's for those people that an extra $1,000 increase in closing costs will make a difference between owning and not owning. You are clearly in the privileged class if you find the transfers taxes in Maryland negligible.

You ARE part of the problem.

$1K for a $300K loan IS negligible. It typically is wrapped into closing costs, and amortized over 30 years at 4%, it really is next to nothing.

I'm not really sure what the problem is. Maryland has more expensive real estate than many other places in the US. Most of this is due to a strong economy with a large population with high household incomes. With a reputation for good schools, homes with good schools and jobs nearby sell at a premium.

The US moved away from landed gentry; being from an area makes no guarantee that you and your progeny stay in said area for perpetuity. If people like me (transplant from Michigan) make it too expensive, then you can move to a less expensive area.