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Wake Tech and Durham Tech are offering 2022 HS grads free tuition - that's a great deal and if you know a grad who isn't sure about going to college for whatever reason, encourage them to go that route.
As far as the renovation thing - most houses on LI are far older than what you're going to find around here (for the most part) and so renovations are a necessity. Real estate transactions up there are a huge pain in the neck too - with our house, both when we bought and when we sold it, it was 3 months from bid to close. And there was NOTHING out of the ordinary on either end, that's just how long it takes. Throw in any issues with financing etc and you're looking at even longer than that. It's much simpler here so people just move - we noticed that as soon as we moved here. Also, on LI, it's all about the school district so people generally buy a house in the school district they want to live in and stay there. Around here, with county schools, people are much less married to staying in their neighborhood. People also tend to stay in their houses till they are taken out feet first on LI, and I notice much less of that here. I have many neighbors that sold while their youngest was a junior or senior in HS. Unheard of up there.
Wake Tech and Durham Tech are offering 2022 HS grads free tuition - that's a great deal and if you know a grad who isn't sure about going to college for whatever reason, encourage them to go that route.
As far as the renovation thing - most houses on LI are far older than what you're going to find around here (for the most part) and so renovations are a necessity. Real estate transactions up there are a huge pain in the neck too - with our house, both when we bought and when we sold it, it was 3 months from bid to close. And there was NOTHING out of the ordinary on either end, that's just how long it takes. Throw in any issues with financing etc and you're looking at even longer than that. It's much simpler here so people just move - we noticed that as soon as we moved here. Also, on LI, it's all about the school district so people generally buy a house in the school district they want to live in and stay there. Around here, with county schools, people are much less married to staying in their neighborhood. People also tend to stay in their houses till they are taken out feet first on LI, and I notice much less of that here. I have many neighbors that sold while their youngest was a junior or senior in HS. Unheard of up there.
Yep this about summarizes what he talked about and makes complete sense. As the Triangle continues to get built out I suspect we'll see similar pattern in the "blue chip" areas. It seems to already be commonplace in Chapel Hill, ITB, and North Hills (the latter though seeming to be more apt to teardown and re-build). Even the "central band" of Cary between Cary Pkwy and 55 (Preston, McArthur Park, Devereaux etc) where most of the housing stock is in that 20-30 year age range; I suspect you'll see more big-time renovations in the near future.
GenX wasn't taught to take out interest-only mortgages they couldn't afford. And yes, college was much cheaper then - be it State U or private.
Millenials weren't forced to overpay for private college or even full-freight State U to achieve degrees that wouldn't increase their pay over a HS grad enough to pay off a student loan within 10 years.
GenX wasn't taught to take out interest-only mortgages they couldn't afford. And yes, college was much cheaper then - be it State U or private.
Millenials weren't forced to overpay for private college or even full-freight State U to achieve degrees that wouldn't increase their pay over a HS grad enough to pay off a student loan within 10 years.
As much as anything, I think that any reluctance or delay millenials had to enter the housing market (which I'd argue is much exaggerated in the first place) was a function of marrying later, and witnessing the aftermath of the recession firsthand both in our own neighborhoods and with our own parents, and in the job market we left college into for those of us squarely in the middle of it.
As much as anything, I think that any reluctance or delay millenials had to enter the housing market (which I'd argue is much exaggerated in the first place) was a function of marrying later, and witnessing the aftermath of the recession firsthand both in our own neighborhoods and with our own parents, and in the job market we left college into for those of us squarely in the middle of it.
1. Enduring the recession right when they entered the labour force --- there is UNQUESTIONABLY an earnings loss from kids graduating in 08-13 vs 19-22 at the arguable peak in the market
2. The logic used to be 'get a degree any degree' but that changed in 2008 but it was boomers and x did so a bit of a rug pull
3. We in another suburban migration wave which certainly wasnt the case or seen as desirable until covid happened
4. Income flight from high col and competing with corporate and mom and pop investors with their demand
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