Best city for first time home buyers?

[erieguy]

Originally Posted by SteelCityRising

I hope this is the case. I followed the Penn Plaza debacle very closely, and it was difficult to find affordably-priced replacement rentals for those tenants, despite assistance from the developer.

I also read these two articles:

Graphic: Pittsburgh’s affordable housing shortage | PublicSource

What you need to know about affordable housing (or lack thereof) in Pittsburgh | PublicSource


The more and more I research how much more rapidly median rents are rising in this city than median real wages for the working-class, the more anxiety I incur.

Do you have any plans to do something about what you feel is wrong or are you going to just wait and hope things turn in your favor?

[ferraris]

SCR, I really don't think there is some pent up demand for units in a lot of the non-trendy neighborhoods. That home-buying program I told you about in Brightwood only has a handful of homes (I think it is 5 currently, 10 if you count the earlier phase) and even when it's laid out on a silver platter like that, they have trouble finding people to buy them.

Originally Posted by SteelCityRising

1.) The answer isn't "Move to the suburbs"

Surely you jest? City living can be great, but it's not like it's a constitutional right or something. If the suburbs work better for your budget, then moving to the suburbs is a valid option. I mean that in general -- I know that you personally have a residency requirement.

2.) The answer isn't "shut up and buy a place because it's cheaper." Don't you think most poor renters are renting long-term because they can't afford to cobble up the down payment and closing cost money for their first home?

In the long run, yes this is probably the best answer for most people. Saving just $50-$100 a month will give you enough for a solid down payment in five to ten years. This is what people mean when they say that someone should cut back on eating out, video games, going to the movies, driving expensive (for them) cars, getting the latest smart phone, or whatever it is. If home ownership is really a goal, then you have to make it happen -- it won't just fall on your lap (aside from programs like the one in Brightwood). I'll grant you that this sort of savings isn't possible for everyone, but it's definitely within the realm of possibility for most people.

Originally Posted by SteelCityRising

There are plenty of single people in this city earning less than $32,400/year yet still too much to qualify for subsidized housing.

With kids, many of them would qualify. Without kids, they should consider a roommate or, again, maybe moving outside city limits.

[safak]

it is not fair that nice apartments in the coolest neighborhoods don't cut the price they can get in half and save them for some of you guys.

[SteelCityRising]

Originally Posted by safak

it is not fair that nice apartments in the coolest neighborhoods don't cut the price they can get in half and save them for some of you guys.

Reading comprehension issues much?

Nobody is advocating that prices in the trendiest neighborhoods are halved so that more than just the wealthy can afford to live in them.

Some of us are concerned that the amount of lower-income renters being displaced in these trendy neighborhoods can't be fully absorbed into the available lower-income-appropriate rentals in the non-trendy CITY neighborhoods. If this isn't the case, then why did it take so long to relocate the Penn Plaza residents?

[safak]

Originally Posted by SteelCityRising

Reading comprehension issues much?

Nobody is advocating that prices in the trendiest neighborhoods are halved so that more than just the wealthy can afford to live in them.

Some of us are concerned that the amount of lower-income renters being displaced in these trendy neighborhoods can't be fully absorbed into the available lower-income-appropriate rentals in the non-trendy CITY neighborhoods. If this isn't the case, then why did it take so long to relocate the Penn Plaza residents?

I read fine, I just don't share the thought that you, or anyone, is entitled to live where they want for cheaper than others would pay simply because thats where you want to live.

[MountainDewGuy]

Originally Posted by SteelCityRising

Reading comprehension issues much?

Nobody is advocating that prices in the trendiest neighborhoods are halved so that more than just the wealthy can afford to live in them.

Some of us are concerned that the amount of lower-income renters being displaced in these trendy neighborhoods can't be fully absorbed into the available lower-income-appropriate rentals in the non-trendy CITY neighborhoods. If this isn't the case, then why did it take so long to relocate the Penn Plaza residents?

Why not? As shown there have been at least over 300 available apartments at some point recently in the <$900 range.

It totally stinks that people were made to move, and it sounds like the process was not done well and possibly without a decent amount of notice (I don't know). However, screwing that up shouldn't justify forcing developers to make available a percentage of their apartments for those who can't afford the market rate for that location. Nor should it lead to a real estate transfer tax likely to force out some of the same MIDDLE income wage earners the city should be attempting to include.

Prices change of time. That's how it works.

[Paul2421]

Originally Posted by MountainDewGuy

Why not? As shown there have been at least over 300 available apartments at some point recently in the <$900 range.

It totally stinks that people were made to move, and it sounds like the process was not done well and possibly without a decent amount of notice (I don't know). However, screwing that up shouldn't justify forcing developers to make available a percentage of their apartments for those who can't afford the market rate for that location. Nor should it lead to a real estate transfer tax likely to force out some of the same MIDDLE income wage earners the city should be attempting to include.

Prices change of time. That's how it works.

kind of strange how some people don't realize that subsidies for the lower classes end up hurting the middle class the most, of which they are part of.

[sealie]

Originally Posted by Paul2421

kind of strange how some people don't realize that subsidies for the lower classes end up hurting the middle class the most, of which they are part of.

Not everybody bases their decisions based on whether they personally benefit ?

[Paul2421]

Originally Posted by sealie

Not everybody bases their decisions based on whether they personally benefit ?

doesn't seem like this is what is happening here, but think what you may. i have no problem with advocating for others when it is justified. some take on unrelated causes for their own agenda though.

[erieguy]

Originally Posted by SteelCityRising

Reading comprehension issues much?

Nobody is advocating that prices in the trendiest neighborhoods are halved so that more than just the wealthy can afford to live in them.

Some of us are concerned that the amount of lower-income renters being displaced in these trendy neighborhoods can't be fully absorbed into the available lower-income-appropriate rentals in the non-trendy CITY neighborhoods. If this isn't the case, then why did it take so long to relocate the Penn Plaza residents?

Perhaps like you, those residents wanted to live in an area they can't afford.