Mon Valley in 10 years? (Pittsburgh: to rent, insurance, student loans)

[PghYinzer]

You can also refinance with a single installment Home Equity Loan which does not require PMI. Granted your LTV has to be in the right range and there is no escrow with such a loan, but it does take care of having to pay PMI. Simply set up a savings account with automatic transfers from your checking, and you have created your own escrow.

[airwave09]

The Mon Valley in 10 years won't change much outside of improvements along 8th Ave in Homestead (finally getting some trickle down investment due to the Waterfront), and possibly the area around the Carrie Furnace if that starts moving into the development phase.

Almono is obviously a whole 'nother animal, and with all of that money involved on what is effectively a blank slate, it should be completely unrecognizable in 10 years just like the changes in SSW from the early 2000's.

[Geeo]

I went to a presentation on Almono in Oakland last month and the scale of this project is massive. They really want it to be integrated with the existing neighborhood as much as possible, and, as such, will be making one of the focal points of the development on the southern end where it meets the existing Hazelwood. So, other than being new construction, one of the hubs of the area will bleed into the existing neighborhood.

[airwave09]

Originally Posted by Geeo

I went to a presentation on Almono in Oakland last month and the scale of this project is massive. They really want it to be integrated with the existing neighborhood as much as possible, and, as such, will be making one of the focal points of the development on the southern end where it meets the existing Hazelwood. So, other than being new construction, one of the hubs of the area will bleed into the existing neighborhood.

As it should, otherwise it will become another Waterfront 2.0 that does practically nothing for the depressed neighborhood right next to it.

Hopefully they are using SSW as an example of how you integrate expansive new developments into an existing street grid. It is hard to tell where the borders are unless you look closely and it has blended even better with age.

[I_Like_Spam]

Originally Posted by airwave09

As it should, otherwise it will become another Waterfront 2.0 that does practically nothing for the depressed neighborhood right next to it.

Hopefully they are using SSW as an example of how you integrate expansive new developments into an existing street grid. It is hard to tell where the borders are unless you look closely and it has blended even better with age.

The Waterfront does a fair amount for the people of Homestead.

It provides the people there with an opportunity for shopping for basic stuff that they didn't have before, it provides jobs and tax dollars to the local schools and municipal governments.


In Homestead, unless you were inclined to move the railroad tracks, the physical separation between the Waterfront and the rest of town was going to remain. South Side Works didn't have the same rail configuration, J&L was a lot smaller on the South Side. Further, Homestead's Waterfront has the Lowe's, Giant Eagle, Target, a lot of basic stores that you really don't have on the South Side mill site.

[SteelCityRising]

Originally Posted by UKyank

Any one of those houses will be substantially cheaper payment than your current rent; you've been saving for a house for many years, I'm not one to claim to know any persons financial situation but surely you should have a down payment for at the least some of the lower 3%-5% down payment mortgages which often include a sellers assist option that will actually cover the closing costs in total.

If you're just against mortgages in general then that's just silly with today's mortgage rates.

Originally Posted by ProFiction

That said, there is something to be said for having 20% down to avoid PMI. I had so little to put down on the house I bought in Evans City that I was still paying off the PMI when I sold it after 5 years living there. Not fun.

Originally Posted by erieguy

Yup. Some people just can't be helped, however.

Every time I have thousands saved towards my first home something happens---taxes; car hits a pothole and socks me $700; someone who is uninsured hits my car while parked making me out $500 deductible; health issues with the roommate's dog; etc. It's not exactly easy to save when you're only making ~$35,000/year and then have to pay student loans, taxes, a car payment, car insurance, utilities, gas, rent, groceries, car maintenance/repairs, etc. There's generally not much left beyond my contingency savings that I always seem to have to keep replenishing.

I have yet to see what makes Pittsburgh "cheap". We're cheaper than EXPENSIVE areas. Okay. I get that. How are we cheap generally speaking, though?

In any event I've decided I'm not buying a home here anymore. I just can't afford to because my employer doesn't pay well enough. It is what it is. Nobody's fault but my own.

[I_Like_Spam]

Originally Posted by SteelCityRising

Every time I have thousands saved towards my first home something happens---taxes; car hits a pothole and socks me $700; someone who is uninsured hits my car while parked making me out $500 deductible; health issues with the roommate's dog; etc. It's not exactly easy to save when you're only making ~$35,000/year and then have to pay student loans, taxes, a car payment, car insurance, utilities, gas, rent, groceries, car maintenance/repairs, etc. There's generally not much left beyond my contingency savings that I always seem to have to keep replenishing.

I have yet to see what makes Pittsburgh "cheap". We're cheaper than EXPENSIVE areas. Okay. I get that. How are we cheap generally speaking, though?

Seems as if there is a lot of places where you can cut expenses.

You live in a relatively high rent area of Pittsburgh, an older car will get you where you are going just as efficiently as a newer one and will save money on insurance as well as the payment. Everyone pays taxes, but you could save on them if you moved to Reserve or Sharpsburg or Harmar.

Old school Pittsburgh, where we don't like higher taxes, high rent and don't insist on new cars, life is a lot less expensive. The new school Pittsburgh where they think they are saving money by riding a $1000 mountain bike unlike a truck takes them out or its stolen, is a place of false economy.

Old school Pittsburgh still lives by the legendary frugal deportment of its Scottish founders.

[BrassTacksGal]

SCR, if you have college loans I assume you are a college graduate. Is there some reason why you are unable to get a professional, better paying, job? Same with your partner. Why are you both working in such low paying positions?

I realize this is none of my business but if you both want to buy a house it would seem getting a professional job would be your first step.

Just a thought.

[jay5835]

Originally Posted by BrassTacksGal

SCR, if you have college loans I assume you are a college graduate. Is there some reason why you are unable to get a professional, better paying, job? Same with your partner. Why are you both working in such low paying positions?

Now you've done it.

[PghYinzer]

Originally Posted by SteelCityRising

Every time I have thousands saved towards my first home something happens---taxes; car hits a pothole and socks me $700; someone who is uninsured hits my car while parked making me out $500 deductible; health issues with the roommate's dog; etc. It's not exactly easy to save when you're only making ~$35,000/year and then have to pay student loans, taxes, a car payment, car insurance, utilities, gas, rent, groceries, car maintenance/repairs, etc. There's generally not much left beyond my contingency savings that I always seem to have to keep replenishing.

I have yet to see what makes Pittsburgh "cheap". We're cheaper than EXPENSIVE areas. Okay. I get that. How are we cheap generally speaking, though?

In any event I've decided I'm not buying a home here anymore. I just can't afford to because my employer doesn't pay well enough. It is what it is. Nobody's fault but my own.

Here you go....

402 Jillson Ave, Brookline, PA, 15216 | Brookline Real Estate

A great house, in a safe, walkable neighborhood. Go FHA with your loan, 3% down (less than 2k), and your payments will be less than your rent now.