Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
North_Pinellas_Guy, this thread was NEVER about buying a home. PDF started this thread and wants to rent.
I do appreciate all the information about that, though. There's a wealth of information in this thread and it helps me better understand Chapel Hill from a financial standpoint. You're right though, I was mainly wondering what makes Chapel Hill expensive if a person is just renting, as it didn't seem like your costs would be any different than if you lived in Raleigh or Durham.
I do appreciate all the information about that, though. There's a wealth of information in this thread and it helps me better understand Chapel Hill from a financial standpoint.
It's our pleasure to assist with the knowledge gathering, PDF. As I told you in the Florida forum, I think you will really like it up there....or just about anywhere in the Triangle area. My wife and I very much enjoyed our time there and I made a lot great friendships, which I have even now and they have been critical support for me during my health downfall and they will be with me right to the very end.
I never did ask you this, though. Is this a permanent move to the area or is it a stop along the way? If we did not hate the cold so much and we did not have a lifelong dream of living in a coastal town on the gulf coast of Florida, we could have easily spent the rest of our lives up there.
I look forward to reading your posts down the line, to see how much you enjoy it.
You should read what I dug up, and watch the video. It shows council malfeasance and abuse of the developer.
Fire protection is irrelevant, according to the attorney the town hired.
Price of housing is irrelevant.
It was a market control measure by town council to keep inventory low. Low inventory supports higher prices across the market.
The effort to ignore and over-ride specific legal advice from the town's attorney regarding the topic on the agenda is extremely relevant to housing costs and possible government malfeasance.
Clearly, fire protection was a red herring. They had no reason to disallow the subdivision whatsoever. Fire protection is a code issue, not a subdivision issue. It could have been enforced at time of permitting, rather than by political ego and irresponsibility.
The "unintended consequence" that was intended was to control inventory levels so the exclusionary enclave region retains artificially high values.
An additional "benefit" is to support sprawl for some reason. 23 acre lots near town, enforced by fiat, don't make a lot of sense, particularly when the zoning supports minimum 5 acre lots.
I watched your video and I'm not quite sure what your point is. This is a 23 acre lot with 4 home sites on it. I assume these homes were going to be over a million bucks apiece. Approval or disapproval of it was going to have zero effect on controlling "inventory levels so the exclusionary enclave region retains artificially high values." Fire dept said they were concerned about being able to provide protection, since this fell under the city's jurisdiction. Said they would support the subdivision if the developer would stipulate homes had sprinklers. Developer said no, proposal tabled until next meeting.
Next meeting happened a month later, developer changed mind and stipulated homes would have sprinklers, town council approves project.
Again, what was your point? I'll note that the month before this meeting (Dec 2007) the council approved a Habitat development of 51 homes on Purefoy Rd. These houses wound up having an average sale value of $165,000. Were these controlling "inventory levels so the exclusionary enclave region retains artificially high values?"
I watched your video and I'm not quite sure what your point is. This is a 23 acre lot with 4 home sites on it. I assume these homes were going to be over a million bucks apiece. Approval or disapproval of it was going to have zero effect on controlling "inventory levels so the exclusionary enclave region retains artificially high values." Fire dept said they were concerned about being able to provide protection, since this fell under the city's jurisdiction. Said they would support the subdivision if the developer would stipulate homes had sprinklers. Developer said no, proposal tabled until next meeting.
Next meeting happened a month later, developer changed mind and stipulated homes would have sprinklers, town council approves project.
Again, what was your point? I'll note that the month before this meeting (Dec 2007) the council approved a Habitat development of 51 homes on Purefoy Rd. These houses wound up having an average sale value of $165,000. Were these controlling "inventory levels so the exclusionary enclave region retains artificially high values?"
I have to say, thanks for doing my homework better than I did.
I had been told that the development was not approved. It never materialized, and I was not aware that the council members were successful in bullying the developer into the stipulations which their own attorney told them were unreasonable and inappropriate.
It probably did not materialize due to economic conditions at that time.
Again, the price of the houses is irrelevant. It is a simple dynamic. High inventory lowers prices. Low inventory raises prices. Controlling inventory serves to support prices artificially.
Habitat does a great job, but did they create inventory? Could I have bought one? Can the average person buy one in the typical 30--45 day transaction period? Are they exposed to the market to get a true market price?
It is unfortunate to have to depend on that charity to provide housing.
//www.city-data.com/city-compar..._right=CARY+NC
I wish it was more up to date.
In 2012, there were 22 building permits approved in Chapel Hill.
1088 in Cary.
Average building permit value in Chapel Hill: $292,600.
Average building permit value in Cary: $177,800.
Add in the land value, as it is not included in the permit value.
You know what the great thing about the Triangle (and America) is. There are lots of options to fit different people's preferences.
You want a town that annexes all of the land around it and builds more houses; you can have it.
You want a town that has pretty strict building codes/restrictions to keep growth manageable; you can have it.
Confusing ones preferences for "the right way" is common but not exactly sound judgement. I don't understand why someone who lives in Cary would care what Chapel Hill approves or doesn't approve for building permits. It works for the people who live there and those that don't like controlled growth have plenty of options for more lenient annexation and building regulations.
I was an Econ major and get the angle you are coming from; but one of the first things you learn in Econ 101 is that it is theory, not science.
Confusing ones preferences for "the right way" is common but not exactly sound judgement. I don't understand why someone who lives in Cary would care what Chapel Hill approves or doesn't approve for building permits. .
This made me LOL, because no one takes more little digs at "the usual suspect" western Wake County towns than you (IF YOU PREFER RECKLESS ABANDON SPRAWL OVER CLOSELY CONTROLLED GROWTH TO KEEP THE AREA PRISTINE THEN HEY THAT'S OK) that are just vaguely insulting. You may have been an econ major but I wonder if you were a psych minor
I do agree with what you said in another post in response to mine about comparing CH to LI - you are 100% right that there are MANY more choices in this area. Long Island is a hostage to it's geography. CT, NJ, and lower Hudson Valley are all expensive but if you're willing to put up with the commute you can get a cheaper house. However, property taxes all over the northeast are out of control. No escaping that.
It's our pleasure to assist with the knowledge gathering, PDF. As I told you in the Florida forum, I think you will really like it up there....or just about anywhere in the Triangle area. My wife and I very much enjoyed our time there and I made a lot great friendships, which I have even now and they have been critical support for me during my health downfall and they will be with me right to the very end.
I never did ask you this, though. Is this a permanent move to the area or is it a stop along the way? If we did not hate the cold so much and we did not have a lifelong dream of living in a coastal town on the gulf coast of Florida, we could have easily spent the rest of our lives up there.
I look forward to reading your posts down the line, to see how much you enjoy it.
It's permanent. I've done too much moving around and want to somewhere to settle down for the long haul, so I chose NC very carefully.
This made me LOL, because no one takes more little digs at "the usual suspect" western Wake County towns than you (IF YOU PREFER RECKLESS ABANDON SPRAWL OVER CLOSELY CONTROLLED GROWTH TO KEEP THE AREA PRISTINE THEN HEY THAT'S OK) that are just vaguely insulting. You may have been an econ major but I wonder if you were a psych minor
I do agree with what you said in another post in response to mine about comparing CH to LI - you are 100% right that there are MANY more choices in this area. Long Island is a hostage to it's geography. CT, NJ, and lower Hudson Valley are all expensive but if you're willing to put up with the commute you can get a cheaper house. However, property taxes all over the northeast are out of control. No escaping that.
Ironically enough; ECON/SOCI double major. One is based on the assumption that people act rationally based on common incentives; one is based on the idea that to really understand an individual or group's actions/decisions you have to analyze (or guess) the circumstances from which their point of view is derived.
Do you not make little digs at LI/The Northeast because you chose to move from there to a different area that suits you better? I guess I don't see the difference.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
