Potentially a Pittsburgher in Paradise?

[alleghenyangel]

I have to admit, the mentality of some of these posts is depressing. I find it so difficult to understand why someone would look down on another person for wanting to live a responsible, affordable lifestyle. It's easy to see why a sensible person would find much to admire in Pittsburgh. I can't imagine anything more rewarding than being able to save your money and buy a house with cash, money you actually earned yourself and did not have to borrow.. Credit companies, loan companies, etc. are all out to make money off your inability to save money and eagerness to live above your means. Living above your means is something that has been sold hook, line, and sinker to the American people, to the point where the average Joe is willing to mortgage and re-mortgage until bankruptcy and foreclosure a house he cannot afford in a city which pretends to be worth the extra cost.

And to clarify another thing, decent houses can be had for less than $40,000 in the Pittsburgh region -- perhaps not in fashionable or trendy neighborhoods, and they may have some very dated appearances -- but they can be had. I just bought one for $11k -- saved my money and paid for it in cash. A little brick row house. Not in the best area, but it's 5 minutes from downtown and it's move-in condition. I make $28,000 a year, am 24, own my own house and newer vehicle. Paid for it all with cash, didn't need to worry about loans and mortgages or payments, don't have to work two jobs to make a living, and have plenty of days off to tinker around the house or explore the city. Most importantly, lay-offs don't scare me one bit, and I sleep like a kitten.

So, if you think living in a crampt apartment in Suburban hell, with 2 other people in your space, and nothing to do but go to work and sleep is better, just so you can make $15k more a year and qualify for a bigger loan (and ten times more stress if you get laid off), think again! But I guess it's the American way to want things you may never be able to pay for with your own money.

[scottrpriester]

Originally Posted by ScranBarre

Hello forum.

Yes, the dreaded windbag that this forum knows as ScranBarre is now aggressively researching your fair city as a potential place to settle down

Oh cripe, I knew this was going to happen.

[Hopes]

Originally Posted by Fiddlehead

The figures you present are a wonderful validation of the fact that Pittsburgh did not bubble, or did very little, so therefore did not cannibalize its future appreciation potential as so many other cities did.

The closest thing we had to a bubble was being able to name your salary when job searching during Clinton's second term. Then Bush was elected and the economy turned to crap. I'll never forget that. Bush was elected in November. In January, our company started "preparing for a recession." I told them they were going to cause a recession. They said they had to because all the other companies were preparing, and they had to remain competitive for the upcoming tax breaks. I had a rude awakening. I, the republican for life, suddenly realized that companies CAUSE recessions when republicans go into office---so the republicans can justify the corporate tax breaks. I'm off my soapbox now....

[robbobobbo]

Originally Posted by anonymous703

Those days of building huge amounts of equity in a short period of time may be over.

Huge amounts, short time - yes, I absolutely agree those days are gone - for now, and maybe for a long time. In today's market, I can't expect to move from my house into one costing $200,000 more (given my current savings and remaining principal), but I could sell and move into a better house than what I have now. The DC market still has the advantage of jobs, jobs, jobs - something SB doesn't appear to appreciate in his querulous posts of "why do people move to DC, it sucks."

Anyway, best of luck to SB in finding the environment best for him. As they say, follow your bliss, so here's to hoping he finds his.

[Fiddlehead]

[quote=alleghenyangel;11376192]

... I just bought one for $11k -- saved my money and paid for it in cash. A little brick row house. Not in the best area, but it's 5 minutes from downtown and it's move-in condition. I make $28,000 a year, am 24, own my own house and newer vehicle. Paid for it all with cash, didn't need to worry about loans and mortgages or payments, don't have to work two jobs to make a living, and have plenty of days off to tinker around the house or explore the city. Most importantly, lay-offs don't scare me one bit, and I sleep like a kitten...

.quote]

If you are really 24 and this financially sagacious, my hat is off to you! Very few people in this era learn these basic lessons in 80 years.

[jimmyev]

It mystifies me why most people do not take cost-of-living into consideration when deciding where to live. After I graduated from college and started looking for a job around Pittsburgh, I was told over and over to 'go to New Jersey and get some experience for 5 years or so.' But paying $250 for an efficiency in the burg (1992) and having to shell out $800 out East just seemed stupid.

I figured out pretty quickly that the cost-of-living anywhere between the Appalachians and Rockies was more-or-less the same, and ended up with a job (making slightly more than I was offered in Jersey) and a $350 1BR apartment in Houston. Sure, I didn't like Houston very much, but I had a nice apartment and could afford monthly - and eventually weekly - excursions on Southwest Airlines.

Every time I thought about applying for a promotion, I took the area's cost-of-living into consideration. So I ended up back in Pittsburgh. There is absolutely no reason to slave away in an expensive metro area just to live when you've got so many other choices.

[juliegt]

Originally Posted by alleghenyangel

And to clarify another thing, decent houses can be had for less than $40,000 in the Pittsburgh region -- perhaps not in fashionable or trendy neighborhoods, and they may have some very dated appearances -- but they can be had. I just bought one for $11k -- saved my money and paid for it in cash. A little brick row house. Not in the best area, but it's 5 minutes from downtown and it's move-in condition. I make $28,000 a year, am 24, own my own house and newer vehicle. Paid for it all with cash, didn't need to worry about loans and mortgages or payments, don't have to work two jobs to make a living, and have plenty of days off to tinker around the house or explore the city. Most importantly, lay-offs don't scare me one bit, and I sleep like a kitten.

I sure wish I had done what you are doing when I was 24!

[Tiger Beer]

Originally Posted by juliegt

I sure wish I had done what you are doing when I was 24!

I wish I were doing it right now, and I'm 39

[Fiddlehead]

Originally Posted by juliegt

I sure wish I had done what you are doing when I was 24!

Yea, by 24 I had just about figured out how to do a keg stand...