Neighborhood of the week: Brighton Heights

[Rust Belt Kid]

Originally Posted by ferraris

BH is a strange beast. I think it shows signs of declining as well as improving. I see all income ranges moving in. Crime has probably went up a little, but I think rent and home prices have also gone up. We see higher end things like the coffee shop, vintage store, and gym open up...but also see low end cell phone stores & convenience stores open up.

Like with the coffee shop, I am optimistic for the whole neighborhood, but only time will tell.

I agree with you. The neighborhood is so big, it's hard to imagine everything declining or improving all together. I am inclined to believe the sections that are in decline will continue to do so, and the areas that are stable should remain so. Home values haven't indicated any significant decline. As one of the rare neighborhoods in the city where you can still get a move in ready house/yard/garage for less than 175k, the allure for young people to move in will only increase as the east end and lower north side markets become more and more saturated. But as you said, we shall see how things pan out. I'm still pretty optimistic.

[sky329]

Originally Posted by SteelCityRising

I do eventually want to buy a house in a stable yet non-trendy city neighborhood (possibly Brighton Heights).

Financially I can't do it now. I have $0 savings and nearly $30,000 in debt---student loans, car loan, personal loans, credit card, and back taxes. Credit score is about 630---enough to qualify for FHA---but I don't make enough money to pay for all of my debts, rent, utilities, groceries, etc. AND save the $5,000-$10,000 I'd need to buy a house (down payment, closing costs, small nest egg if something went haywire just after buying it).

In 2-3 years I'll have $800/month freed up from having all of my debts paid off. $800/month x 12 months = $9,600. I'll be able to buy a house in 4 years---5 years if I want a slightly better home or more savings for renovations.

My concerns are for those who either can't EVER buy or who choose to not EVER buy. The answer to rising rents in this city's trendy neighborhoods coupled with a dearth of rentals in more affordable non-trendy neighborhoods shouldn't be "just shut up and buy". Then housing prices will go through the roof, making the rental AND buying markets challenging.

I hear people say this all the time when I push them to buy a house smh.. such fear of the unknown.. everyone mostly has student loans and car payments you aren't alone... if you buy a home for 60k that's only about a 2k down payment on a fha plus you can get 6% of closing costs covered so you would only have to come up with about 3500$ to get a house under 75k.. You make a TON of excuses but its easy to buy here.. your gonna make the mistake and not buy now and the prices are gonna be even higher in 4 years and u will prob have a new car loanand still those same student loans dive in so I can stop reading posts about unaffordable housing.. I seriously cant believe that march over the weekend I seen on the news.. I think I seen you in the crowd.. im glad they aren't building a new whole foods that one the yuppies have is enough... open up a walmart in that spot that serves normal people..

[eschaton]

Originally Posted by SteelCityRising

I do eventually want to buy a house in a stable yet non-trendy city neighborhood (possibly Brighton Heights).

Financially I can't do it now. I have $0 savings and nearly $30,000 in debt---student loans, car loan, personal loans, credit card, and back taxes. Credit score is about 630---enough to qualify for FHA---but I don't make enough money to pay for all of my debts, rent, utilities, groceries, etc. AND save the $5,000-$10,000 I'd need to buy a house (down payment, closing costs, small nest egg if something went haywire just after buying it).

In 2-3 years I'll have $800/month freed up from having all of my debts paid off. $800/month x 12 months = $9,600. I'll be able to buy a house in 4 years---5 years if I want a slightly better home or more savings for renovations.

My concerns are for those who either can't EVER buy or who choose to not EVER buy. The answer to rising rents in this city's trendy neighborhoods coupled with a dearth of rentals in more affordable non-trendy neighborhoods shouldn't be "just shut up and buy". Then housing prices will go through the roof, making the rental AND buying markets challenging.

I mean absolutely no offense when I say this, but IIRC 2-3 years ago you planned on having the savings to buy a house within 2-3 years.

I know your job situation has more recently changed for the better, so I hope you have finally begun to turn the corner, but if you have not been able to make a significant dent in your indebtedness over the last several years, maybe you should either change your way of life considerably or consider the way the dice have rolled that you might never have the capital saved up to buy a home. There's nothing shameful about being in that situation - many millennials are.

[eschaton]

Originally Posted by sky329

I seriously cant believe that march over the weekend I seen on the news.. I think I seen you in the crowd.. im glad they aren't building a new whole foods that one the yuppies have is enough... open up a walmart in that spot that serves normal people..

I only saw the march this weekend briefly, but I was shocked that the turnout appeared to be 80%+ white to protest the evictions from Penn Plaza. It seems that the people most concerned about this particular case of gentrification of low income people of color are middle income white people, which is sad on a couple of levels.

[Lost_In_Translation]

Originally Posted by eschaton

I mean absolutely no offense when I say this, but IIRC 2-3 years ago you planned on having the savings to buy a house within 2-3 years.

I know your job situation has more recently changed for the better, so I hope you have finally begun to turn the corner, but if you have not been able to make a significant dent in your indebtedness over the last several years, maybe you should either change your way of life considerably or consider the way the dice have rolled that you might never have the capital saved up to buy a home. There's nothing shameful about being in that situation - many millennials are.

Or buy a $20-50k home in the hill district or southern hills and work on it yourself to improve. Literally areas will not improve unless people take some damn initiative. You don't have to be rich to have a home in PGH, you just have to be resourceful and willing to take risks.

[TSKeil]

Looking for the name of the little home-based store behind John Morrow elementary school in the 70's on Fleming Avenue. Kids on the way to and from school always use to stop there and stock up and usually get it confiscated by the teachers. We
It was the economy of the school play yard - bubs daddies and now and laters.