As Pittsburgh home sales dip, no agreement on why (Lincoln: 2015, mortgage)

[PreservationPioneer]

To be fair, all of Pittsburgh's nicest homes burned in the Great Fire of 1845.

[SteelCityRising]

Many of we Millennials can’t afford the entry cost to purchase our first homes, hence why we rent. I know it’s a foreign concept to some on here who are out-of-touch, but cobbling together thousands to buy a home is tough in a city where the average rent on a 1-BR is $1,000/month+ and where most I know earn sub-$50,000/year and have $300/month student loan payments. Eventually you just feel trapped/hopeless and give up on your dreams, as I have.

If I could buy a $50,000 home in need of TLC in Elliott I’d be paying <50% of my current rent for a crappy 1-BR apartment.

[szug-bot]

Originally Posted by SteelCityRising

Many of we Millennials can’t afford the entry cost to purchase our first homes...Eventually you just feel trapped/hopeless and give up on your dreams, as I have.

and that is one problem - the expectation of instant gratification. it takes time. you're not even 30, are you? you should move to a lower rent domicile, then take that difference and consider it a windfall savings.
hang in there, and give it time (provided you use your head and have self-discipline).

[tyovan4]

Originally Posted by SteelCityRising

Many of we Millennials can’t afford the entry cost to purchase our first homes, hence why we rent. I know it’s a foreign concept to some on here who are out-of-touch, but cobbling together thousands to buy a home is tough in a city where the average rent on a 1-BR is $1,000/month+ and where most I know earn sub-$50,000/year and have $300/month student loan payments. Eventually you just feel trapped/hopeless and give up on your dreams, as I have.

If I could buy a $50,000 home in need of TLC in Elliott I’d be paying <50% of my current rent for a crappy 1-BR apartment.

Originally Posted by szug-bot

and that is one problem - the expectation of instant gratification. it takes time. you're not even 30, are you? you should move to a lower rent domicile, then take that difference and consider it a windfall savings.
hang in there, and give it time (provided you use your head and have self-discipline).

I earn a working class salary (that is balanced out by having fantastic benefits).

The thing is, you can either live in the East End. Or you can be a home-owner. With salaries like ours, you simply can't have both. I lucked out in that I received a small windfall from my divorce settlement, and I qualified for a VA mortgage (no down-payment, and no private mortgage insurance).

Seriously - consider a job with the County, you'll still have the good vibes of public service, stable employment, and excellent benefits. But your residency restriction will be wider - you can live anywhere in the County. Consider doing that and considering a first-ring suburb.

Your voice is too small to matter in the City. You're not a professor or a philanthropist.
But in a suburban community, your passion for where you live can provide direct benefits and your voice can be heard by your municipal leaders.

I wish you luck. I know it sucks, and our generation really got screwed by our parents' generation..

[jea6321]

Originally Posted by SteelCityRising

Many of we Millennials can’t afford the entry cost to purchase our first homes, hence why we rent. I know it’s a foreign concept to some on here who are out-of-touch, but cobbling together thousands to buy a home is tough in a city where the average rent on a 1-BR is $1,000/month+ and where most I know earn sub-$50,000/year and have $300/month student loan payments. Eventually you just feel trapped/hopeless and give up on your dreams, as I have.

If I could buy a $50,000 home in need of TLC in Elliott I’d be paying <50% of my current rent for a crappy 1-BR apartment.

if you honestly want to buy a 50-70k house you could have done so by now several times over. Im not trying to pick on you but just trying to make an example. By changing small habits on your lifestyle and maybe picking up a side hustle you could easily save the funds needed in about 1 year. possibly less. Everyone makes decisions everyday on our personal finances. You can either complain that its just too hard to do, or lay out the plan needed to make it happen, and stick to it long enough to see it through.

I honestly hope to see you posting on here about how you closed on your first home someday in the near future.

[UKyank]

Originally Posted by SteelCityRising

Many of we Millennials can’t afford the entry cost to purchase our first homes, hence why we rent. I know it’s a foreign concept to some on here who are out-of-touch, but cobbling together thousands to buy a home is tough in a city where the average rent on a 1-BR is $1,000/month+ and where most I know earn sub-$50,000/year and have $300/month student loan payments. Eventually you just feel trapped/hopeless and give up on your dreams, as I have.

If I could buy a $50,000 home in need of TLC in Elliott I’d be paying <50% of my current rent for a crappy 1-BR apartment.

You could do what I did years ago & live in a sh*tty area with a bunch of roommates, eat the cheapest stuff you can get at the grocer & watch your bank account grow. Know way too many younger people who state the same thing but find the concept of not living where they want or eating/drinking out when they want as if it’s a foreign concept.

For a $50,000 home, in the right areas you only need a 3% downpayment + other closing costs - $3000 should not be difficult to save over time by anyone who is employed above minimum wage.

[Knepper3]

But keep in mind a 50k house will likely have issues, I don't care where you are looking. Issues means you better not be trying to use an FHA loan to get it or it will be a pain. There are some under 60k that would work for FHA but you have to be completely open to location because they are hard to find.

[jea6321]

Originally Posted by Knepper3

But keep in mind a 50k house will likely have issues, I don't care where you are looking. Issues means you better not be trying to use an FHA loan to get it or it will be a pain. There are some under 60k that would work for FHA but you have to be completely open to location because they are hard to find.

there are livable homes in Elliot as SCR mentions wanting to buy for 50-70k at pretty much any time. Ive sold several in the area in that price range that needed nothing more than a paint job and some elbow grease.

[PghYinzer]

Originally Posted by Knepper3

But keep in mind a 50k house will likely have issues, I don't care where you are looking. Issues means you better not be trying to use an FHA loan to get it or it will be a pain. There are some under 60k that would work for FHA but you have to be completely open to location because they are hard to find.

I don't know, this house looks pretty good for the price. I would say a really good scrubbing and some consistent paint colors would go a long way. Close to public transportation too.


https://www.redfin.com/PA/Pittsburgh.../home/74535861

[norcider]

SCR, I know you have some sort of negative feelings toward the North Side as a whole, but this hilltop is quiet and this street has killer views:

https://www.zillow.com/homes/for_sal...ct/15_zm/1_fr/