Article in Seattle times talks about people in their 20s and 30s leaving Seattle due to high housing costs. (sale, foreclosure)

[annonymous0381]

Originally Posted by homesinseattle

Annonymous, White Center is south and a bit east of West Seattle. If you drive down Delridge Way SW a few miles, you will just about run into it. Because it was perceived to be a little more dangerous and/or rough around the edges, it has maintained much of its authenticity in the face of gentrification in many other parts of Seattle. There are some neat ethnic restaurants, locals pubs as well as artists studios and an old school feel. It is very much becoming a default (and for good reason) for those who can't afford to purchase or rent in West Seattle but want to be fairly close in.

I have a friend that lives in West Seattle and west seattle seems nice.

[cmswazey]

West Seattle is a six mile long peninsula with lots of neighborhoods in it. On the top are Alki and the Admiral dist. Toward the bottom are Fauntleroy and Arbor Heights. Head SE of there and you'll hit Top Hat, Beverly Park, White Ctr and then Burien and Seatsc.

[annonymous0381]

Originally Posted by cmswazey

West Seattle is a six mile long peninsula with lots of neighborhoods in it. On the top are Alki and the Admiral dist. Toward the bottom are Fauntleroy and Arbor Heights. Head SE of there and you'll hit Top Hat, Beverly Park, White Ctr and then Burien and Seatsc.

I have been to Alaska junction in west Seattle.

[cmswazey]

Originally Posted by annonymous0381

I have been to Alaska junction in west Seattle.

Ah! It's a shopping dist (with some apartments now) smack dab in the middle.

[annonymous0381]

Originally Posted by cmswazey

Ah! It's a shopping dist (with some apartments now) smack dab in the middle.

alaska junction has a good record and cd store called Easy street records

[franklin42]

Originally Posted by annonymous0381

alaska junction has a good record and cd store called Easy street records

Easy Street is awesome. That whole area is great. The Beer Junction can be dangerous though

[cmswazey]

I concur! Pegasus books, merriweather books, restaurants, Husky Deli...very cool. Now they have a la mode pies...

[annonymous0381]

Originally Posted by cmswazey

I concur! Pegasus books, merriweather books, restaurants, Husky Deli...very cool. Now they have a la mode pies...

husky deli makes great ice cream. Al la mode pies has great pie slices

[CrazyDonkey]

Originally Posted by annonymous0381

Where is white center

South of Delridge, north of Burien.

https://www.zillow.com/homedetails/1...95353758_zpid/

MT #120 (on 115th SW) to 3rd & Union in 31 minutes (according to Metro). Runs every 10 minutes.

Grocery Stores, library, restaurants (Mexican, Vietnamese, terryaki, pizza, etc.) within easy walking distance. Southgate Roller Rink and Zippy's Giant Burgers four or five blocks north.

[amaiunmei]

Originally Posted by Walch1007

You asked if renting is really that bad vs buying. I was assuming you have enough saved up for a down payment. Sounds like that's not even an option so the point is moot.

Once you do have a fund saved up and you're considering moving, some food for thought:

Should you buy a cheap house for cash in a market that will not show much growth beyond inflation (if even that) or buy an expensive house in a market that will almost assuredly appreciate faster than a fixed interest of 4.2%?

The latter will almost certainly allow you to retire much much wealthier. Without a step up in innovation, real estate in desirable Western cities along the coast will appreciate much faster than equity investments.

If you look at the baby boomer generation, the ones who chose to suffer the high prices of desirable, growing international cities (London, NYC, Hong Kong, Singapore, Vancouver, Sydney, etc) enjoyed a massive boost to their personal wealth, while the ones who chose land-locked backwater towns in the developed world like St. Louis, Sacramento, Winnipeg, Columbus, etc. continue to be among the poorest in the nation. History WILL repeat itself.

The economic conditions under which the Baby Boomers bought homes -- a booming post-WW2 economy & near-unlimited expansion -- will never happen again. Automation will make that a certainty.

A house is a place to live. Period. And when you are talking about buying homes that require going above the 3-to-1 debt-to-income ratio, you're essentially gambling. AGAIN, you have to ask ... how certain are you of "guaranteed income" when the economic conditions underpinning such a thing are not existent to the degree that makes such a gamble make sense?

My husband and I are clear and cogent on this: we are not going above 3-to-1 debt-to-income ratio, and that's on an income north of $150k. It's just not worth it to carry that heavy a debt burden at that point, and that kind of debt burden has implications on the rest of your life. And -- I'm speaking frankly -- I am not wishing Seattle-area homeowners ill. I have many friends who are comfortable carrying debt ratios in the 6-to-1 ratio range. It's their life, and I wish them well.

However, between my husband and I, we've saved $100k that was originally going to be used as a down payment (we started saving a few years ago). We'll now just continue to rent (that represents 1% of our current budget) and save and buy elsewhere. It's not such a bad plan because it keeps us from taking on debt, something for which we have an extremely low tolerance.