2023 Real Estate Observations (Wellesley: PhD, surgeon, degree)

[massnative71]

Originally Posted by matrix5k

Student loans are the main reason half of millennials can't afford to buy a home in the first place.

Nonsense.

[msRB311]

Originally Posted by massnative71

Nonsense.

right.

[charolastra00]

Originally Posted by matrix5k

Doubt it. Student loans are the main reason half of millennials can't afford to buy a home in the first place.

One of the main reasons, sure.

Of course, never having student loans doesn't help much when an average starter home PITI is $3500-4000/mo in eastern Mass (fixer uppers, less desirable towns). But it would be even less affordable if hundreds or even thousands of dollars a month are wrapped up in loan obligations.

[matrix5k]

Originally Posted by massnative71

Nonsense.

Originally Posted by msRB311

right.

Ok boomers.

[massnative71]

Originally Posted by matrix5k

Ok boomers.

Great comeback.

[massnative71]

Originally Posted by charolastra00

One of the main reasons, sure.

Of course, never having student loans doesn't help much when an average starter home PITI is $3500-4000/mo in eastern Mass (fixer uppers, less desirable towns). But it would be even less affordable if hundreds or even thousands of dollars a month are wrapped up in loan obligations.

Not to mention, the half that do not have student loans tend to be in the lower income tiers where buying a home these days is even more out of sight. But with the median millennial HHI in MA being around $106K, with current rates even a $300K mortgage would be stretching it. Even with zero student loans, how many options exist in MA at that budget?

[newenglandgal123]

Originally Posted by BostonMike7

They are a lot of work. One of my fence lines (100 feet long approx) is a row of 10' tall arbovite. Most of my fall/spring cleanup is this line of arbovite. I have to trim them twice a year (mine are quite large) and they have a habit of collecting all the neighborhood leaves under them in the fall unless i proactively trim the bottom up 6=8" or so so they blow through. Then they shed old leaves, which requires raking otherwise it kills my grass. I probably put out 10-15 brown leaf bags in the spring and fall just for these bushes.

The neighbor and I have been discussing cutting them down and putting up a 6' fence and calling it a day, but quotes for that are $10K (split evenly).

The local wildlife love them though. Rabbits nest under them constantly, birds nest in them in colonies, and this spring we had a young fox living under the ones near the rear of the property. Had to haze him off.

That's great though that you have neighbors that seem willing to meet in the middle and work with you! Yeah, I'd have the same issue with all their leaves collecting on/under the row of arborvitaes because these folks don't rake either. In fact, I'm almost debating buying some of that bright orange construction mesh that you see attached to wooden posts that contractors use to cordon off areas temporarily. I'm wondering if I can put that up once the leaves start falling to keep all their mess on their side! I'm so sick of all the extra work that their lack of maintenance causes me on my property.

[gf2020]

It's only Federal student loans that have been in deferment for 3.5 years.

For most dependent students, the maximum an undergrad can borrow under those programs is $27,000 for 4 years. The interest rates have varied from 3.4% to 5.05% over the past several years. If we assume an average of 4.5% then the monthly payment would be about $280.

I don't think $280 per month is preventing millennials from buying houses.

[msRB311]

Originally Posted by gf2020

It's only Federal student loans that have been in deferment for 3.5 years.

For most dependent students, the maximum an undergrad can borrow under those programs is $27,000 for 4 years. The interest rates have varied from 3.4% to 5.05% over the past several years. If we assume an average of 4.5% then the monthly payment would be about $280.

I don't think $280 per month is preventing millennials from buying houses.

people love to throw this out there as a reason why people can't afford a home though. Don't stand in the way of this argument lol.

[simplexsimon]

Originally Posted by gf2020

It's only Federal student loans that have been in deferment for 3.5 years.

For most dependent students, the maximum an undergrad can borrow under those programs is $27,000 for 4 years. The interest rates have varied from 3.4% to 5.05% over the past several years. If we assume an average of 4.5% then the monthly payment would be about $280.

I don't think $280 per month is preventing millennials from buying houses.

Interesting, thanks for clarifying.