Denver salaries vs housing question (Aurora, Greeley: apartments, rental, condos) - Colorado (CO) - Page 7 - City-Data Forum

Lafleur · 03-27-2015, 07:59 AM

Quote:

Originally Posted by ayoitzrimz

So, you can't afford Denver. It happens. Not everyone can afford it. Maybe make an effort to move to another city then that you can afford. Is it fair? not really but that is the reality. In this life you don't get what you deserve only what you can afford. With that reality in mind, while you are still young is the time to experiment with other cities and find somewhere that has what you are looking for. And as a heads up, that dynamic is everywhere - either gotta make bank or sacrifice something for something else. Not exactly earth shattering news man.

You're wrong on one account. This is not the dynamic everywhere. In other major metro areas, there tend to be more affordable working class suburbs where first time buyers have an opportunity at buying a place. That is not true for Denver for the most part, as the suburbs are as expensive or more expensive than the actual city.

It's pretty pathetic that, at $66k/yr, (well above the median indiividual income in this country) that an individual can't find an affordable place (as a first time buyer) even in the suburbs.

AmFest · 03-27-2015, 08:00 AM

Quote:

Originally Posted by ayoitzrimz

So, you can't afford Denver. It happens. Not everyone can afford it. Maybe make an effort to move to another city then that you can afford. Is it fair? not really but that is the reality. In this life you don't get what you deserve only what you can afford. With that reality in mind, while you are still young is the time to experiment with other cities and find somewhere that has what you are looking for. And as a heads up, that dynamic is everywhere - either gotta make bank or sacrifice something for something else. Not exactly earth shattering news man.

She CAN afford Denver. She just decided to not spend enough on housing to buy real estate in Denver. It's a matter of priority, not of affordability.

Yeah, still not earth shattering news.

AmFest · 03-27-2015, 08:02 AM

Quote:

Originally Posted by Lafleur

You're wrong on one account. This is not the dynamic everywhere. In other major metro areas, there tend to be more affordable working class suburbs where first time buyers have an opportunity at buying a place. That is not true for Denver for the most part, as the suburbs are as expensive or more expensive than the actual city.

It's pretty pathetic that, at $66k/yr, (well above the median indiividual income in this country) that an individual can't find an affordable place (as a first time buyer) even in the suburbs.

I thought we agreed that you CAN find an affordable place on that income.

Your issue is with accumulates savings, not income.

ayoitzrimz · 03-27-2015, 08:02 AM

Quote:

Originally Posted by Lafleur

You're wrong on one account. This is not the dynamic everywhere. In other major metro areas, there tend to be more affordable working class suburbs where first time buyers have an opportunity at buying a place. That is not true for Denver for the most part, as the suburbs are as expensive or more expensive than the actual city.

It's pretty pathetic that, at $66k/yr, (well above the median indiividual income in this country) that an individual can't find an affordable place (as a first time buyer) even in the suburbs.

So go there and stop complaining, is what I was trying to say in a nice way. The whining isn't going to change things for you.

Lafleur · 03-27-2015, 08:03 AM

Quote:

Originally Posted by AmFest

She CAN afford Denver. She just decided to not spend enough on housing to buy real estate in Denver. It's a matter of priority, not of affordability.

Yeah, still not earth shattering news.

Once again, there is what you can afford and what you can afford wisely. That's my point. I can technically afford $350k, possibly $400k according to some banks. Is it financially wise? Not necessarily. Would I be house poor? Absolutely.

That's the difference. And I'm a dude for the record. Lafleur is in reference to a favorite hockey player of mine.

Lafleur · 03-27-2015, 08:04 AM

Quote:

Originally Posted by ayoitzrimz

So go there and stop complaining, is what I was trying to say in a nice way. The whining isn't going to change things for you.

Not whining for the sake of whining. I'm saying this as a forewarning to others considering this place who are in a similar position as me. I don't want them getting misinformation and getting caught up in the "mountain views" and then being surprised at what they can actually afford here. I just want to set the record straight. Denver Metro is not an affordable place to live. Period.

ayoitzrimz · 03-27-2015, 08:06 AM

Quote:

Originally Posted by Lafleur

Not whining for the sake of whining. I'm saying this as a forewarning to others considering this place who are in a similar position as me. I don't want them getting misinformation and getting caught up in the "mountain views" and then being surprised at what they can actually afford here. I just want to set the record straight.

I don't think anyone is getting misinformation about Denver being affordable, unless you are coming from SF / NYC / etc.

Data is out there, up to you to do your research before moving to a new city.

AmFest · 03-27-2015, 08:06 AM

Quote:

Originally Posted by Lafleur

Once again, there is what you can afford and what you can afford wisely. That's my point. I can technically afford $350k, possibly $400k according to some banks. Is it financially wise? Not necessarily. Would I be house poor? Absolutely.

That's the difference. And I'm a dude for the record. Lafleur is in reference to a favorite hockey player of mine.

You can afford a 300k house and not be house poor. I have even figured the numbers out for you. The only real assumption I made was that you don't have an extravagant lifestyle.

Lafleur · 03-27-2015, 08:09 AM

Quote:

Originally Posted by AmFest

You can afford a 300k house and not be house poor. I have even figured the numbers out for you. The only real assumption I made was that you don't have an extravagant lifestyle.

No, I don't at all. In fact, it's my keenness to remain frugal that makes Denver Metro real estate an issue. I could live in a much nicer neighborhood and much nicer apartment than I do now, but I like to have a good chunk of change left over in case of emergencies and for savings. That's why I live in the $800/mo crapper that I live in now. It sucks, but having money in the bank feels good.

And for the record, I don't want a $300k home as my first home. I'm wanting something in the $150k-$225k range. And it doesn't have to be a SFH. I'm content with a condo or townhome in a safe location.

AmFest · 03-27-2015, 08:11 AM

Quote:

Originally Posted by Lafleur

Of course, and I'm not talking about Detroit proper. I'm talking about the suburbs, which are significantly nicer. But I'm betting you've never stepped foot in either, whereas I've seen and lived in both worlds. The suburbs of Detroit are some of the nicest, but there are also affordable "blue-collar" type suburbs. Which is my point. Denver doesn't seem to have these kinds of suburbs, which would be ideal for a first time buyer.

I'm not even talking about whether safe and cheap neighborhoods exist in Detroit. The fact remains that Detroit is a less desirable place to live than Denver. Please do not compare real estate price in Detroit to that in Denver; it will just be apples to oranges. And by the way, believe it or not, downtown Detroit is way more expensive than downtown Denver.