Priced out of your rental area? Us, too. So where to go? (most expensive, climate)
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By a RV and live at Walmart. Seems pretty popular these days across the country.
Depends. Here they have installed overhead bars or "no overnight parking" signs and you will find yourself with a boot on a wheel in the morning or a Leo knocking on the door.
Depends. Here they have installed overhead bars or "no overnight parking" signs and you will find yourself with a boot on a wheel in the morning or a Leo knocking on the door.
Yup it's the new American dream. A minimum wage job at Walmart and a life inside a van/RV.
Odds are you were paying too much in the last place you lived as well.
That sort of desperation decision isn't the one to plan around.
Even if forced to make one... limit it to the short term and as a get by.
You want the same as everyone else.
Look at your recent weekly pay stubs.
Whatever that NET pay amount adds up to is your budget target.
Ideally... one WEEK of pay will cover one MONTH of housing costs. Including utilities.
Many will have to share a house or apartment to make that work.
If so... that sharing needs to be equitable with each contributing a similar amount
and each being able to afford to pay that amount. Don't cheat yourself.
With housing costs the way there are, is that even possibly these days? I suppose I could find a cheaper rent, but I don't want to live in a bad area. Where people don't work, and watch when you leave for work and when you'll be home? No way. Half of my salary goes to my rent, and that doesn't cover utilities.
I don't think that one week pay = rent and utilities is a valid formula, at least for people who don't make a great deal of money.
With housing costs the way there are, is that even possibly these days?
Of course it is. It's objectively harder in places like San Fran, LA, Portland, Seattle, NYC, Boston...
and of course you can't expect to live alone on it... well, anywhere.
The only question is how many you'll have to share with.
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I suppose I could find a cheaper rent, but I don't want to live in a bad area.
Oh well. Then either earn more money or move where your income level works.
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Half of my salary goes to my rent, and that doesn't cover utilities.
Half of net and after making the pretax retirement contributions?
If half of gross then you're sunk already.
Fix these if you hope to ever get ahead.
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I don't think that one week pay = rent and utilities is a valid formula,
at least for people who don't make a great deal of money.
You're uncomfortable that your income isn't enough to support the lifestyle you prefer.
Adjust one side of that scale or the other and do it soon.
Where do you go? In New York City, I would go to the Bronx. In Boston, maybe to Brighton/Allston. In San Francisco, maybe to San Bruno. In Los Angeles, maybe to Silverlake. You go to the cheapest but still livable (or becoming increasingly livable), usually outer, part of any large city, that has good public transportation connections with employment/entertainment/education areas. You can find such parts in any large city, with the exception of a very few,, e.g. Detroit, that appear to be not livable at all.
You can find such parts in any large city, with the exception of a very few,, e.g. Detroit, that appear to be not livable at all.
Often heard the same about my city of Oakland...
Growing up, every block had boarded up homes and abandoned properties... got so bad the city would sell these homes for $1 if you moved in, lived there for 5 years and made repairs... now these $1 are pushing 400k...
Growing up, every block had boarded up homes and abandoned properties... got so bad the city would sell these homes for $1 if you moved in, lived there for 5 years and made repairs... now these $1 are pushing 400k...
Right, but these OP people need some place to live immediately - they are not property speculators buying houses for $1 and waiting for the area to become a hot market where they can sell for $400k. They need a place to live NOW, normally and affordably. You would really have to be closely knowledgeable about Oakland to know where exactly (and if) you can find a place to live normally. Notice that I said I would look in San Bruno for something normal and affordable in the Bay Area - that is because San Bruno does not have high crime.
Right, but these OP people need some place to live immediately - they are not property speculators buying houses for $1 and waiting for the area to become a hot market where they can sell for $400k. They need a place to live NOW, normally and affordably. You would really have to be closely knowledgeable about Oakland to know where exactly (and if) you can find a place to live normally. Notice that I said I would look in San Bruno for something normal and affordable in the Bay Area - that is because San Bruno does not have high crime.
I grew up in Oakland and wanted to own my own home in the worst way...
Started looking around and soon found even with 10 years employment by age 22 it was just not going to happen.
Then I started looking at the least expensive single family homes on the MLS... every city has the least expensive listing no matter what the market.
I soon learned by not qualifying for a conventional loan my options were very limited...
To make a long story short I bought the least expensive home on the Oakland MLS at the time and got it for much less than asking... it was that bad and subject of a up coming condemnation hearing... so the sellers were desperate... but the utilities were still on!
I owe it all to my Broker... told her I was not interested and she kept me talking... fishing for an offer... I finally said maybe if it was 1/3 of asking... and she wrote it up.
The next day she called to congratulate me... had not even told my folks... my step Grandfather said I was excited he didn't have the heart to tell me I had just flushed my life savings and then some...
Well I proved them all wrong and still own the home today...
It goes to show that you need to do the right research when looking for a place to live, and you'll find what you need/can afford. I assume the OP's post on this thread is a part of their research. Again, I don't know much about Oakland, it would not be my choice in the Bay Area, but you grew up there, which is different. Best to ask the local, well informed people, similar to the OPs own family, in any specific city that the OP may consider. There are discussion threads on this Forum for just about every city in the nation (definitely for every large city).
OP, you never stated how much rent you can afford. "High" rent is a matter of perspective.
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