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Old 11-04-2011, 04:08 PM
 
925 posts, read 1,064,324 times
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Quote:
Quote:
Originally Posted by marska
What is being done ? Housing-cost burden
I also posted this as a response in the "Gaithersburg Development Thread" but thought there may be more interest and responses here.

We are a mature professional couple and we spend 27% of our income on housing ( in a very modest 1 bedroom apt). We feel this is excessive and it certainly causes us to scrimp in a lot other areas.

I can't imagine trying to house an entire family.

I am wondering what is being done to address the housing-cost burden in Gaithersburg and the DC 'burb area in general.

A moderate housing-cost burden is recognized as 30.0 to 49.9 percent of income spent on housing costs and severe housing-cost burden is 50% or more of income spent on housing costs.

Commonly accepted guidelines for housing affordability is a housing cost that does not exceed 30% income and when the monthly carrying costs of a home exceed 30–35% of household income, then the housing is considered unaffordable for that household.

Again, as a couple at peak or near-peak earning years, spending 27% of our income on housing is NOT a cheery thought and doesn't encourage us to stay in the area, no matter how attractive or walkable or safe or whatever, if we don't have much left to spend after paying rent ~ we must move on down the road.

I know there are some generous programs in MD to subsidize housing but I think the income limit is around 40.

Quote:
Originally Posted by marska View Post
Wow. Feel kinda like I got flamed by on this thread by a few of you.
Not suggesting that the gov't should do anything.
Just a bit of agonizing over the situation.

North Beach...I never asked what the state should do, but you provided good information/points regarding the construction and environmental standards in MD as well as the The Flush Tax. I appreciate MD's concerns about environmental protection.

MrRational, you said ( quite unkindly I might add), " Some unstated aspects in all this...1) In comparison to their work and social peers... what have the couple in the peak or near-peak earning years been doing w/r/t home purchasing for the prior twenty or so years?
iow... lots of moderate income dual earners after 20+ years in place are now enjoying a relatively modest old mortgage payment that will also soon end.
Not so unusual...like many, we bought, sold, moved, bought , sold, moved
2) In comparison to their work and social peers... is the specific number referred to in the artful phrasing "peak or near-peak earning" itself the source of the inadequacy? "
ya know what, that comes across very mean-spirited. period.

Red...I wasnt suggesting that housing be subsidized for middle income earners. And I wasnt asking for ideas on how to cut back on expenses.

NativeTexasGal...ditto
Guess I wasn't the only one who didn't get your point.
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Old 11-04-2011, 06:50 PM
 
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miketheveloist's Channel - YouTube

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Old 11-04-2011, 06:52 PM
 
Location: In Denial
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Did I say that I thought the people in Maryland were friendly?
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Old 11-06-2011, 10:03 AM
 
795 posts, read 1,075,500 times
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Quote:
Originally Posted by Richard Martin View Post
What is Maryland doing about the high cost of housing? Nothing and they like it that way. High housing costs tend to drive out the undesireables.
That does not work all the time... that causes the undesireables to cram more into one house... then park 10 junk cars outside.
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Old 11-06-2011, 10:11 AM
 
795 posts, read 1,075,500 times
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Quote:
Originally Posted by marska View Post
I know there are some generous programs in MD to subsidize housing but I think the income limit is around 40K.
Those programs are not really programs... I was looking into one last week and the house was $325,000... you could not make more than $82,000 per year (person / couple). In other words, you HAD to make no more than 82k and no less than maybe 77k (and that is too low, more than likely). You almost could not have a car payment, college debt or issues with your credit.

I called and asked the guy how many people could "really" pull that off... he said almost none, and that was why the house was still on the market after months.

My issue was, you make 80k, move in... who pays the bills (1800 sf house)... you are strapped, unless you put down a chunk of cash. God, don't let you have to buy a car or plan a wedding.

That program seems like a disaster in the making... but I'm sure it could benefit someone.

So much for the gov't trying to do something "good".
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