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It's simply supply and demand. That's why I'm in Franklin now. It's beautiful here, but it's definitely not convenient and has limited amenities, but it's a lot less expensive. I checked out SC and even in the upstate, the summer heat was unbearable, although I thought Greenville was a very nice city.
Sorry to go off-topic, but I was just watching an old Law & Order episode from the 90s and one of the detectives commented on the cost of housing and the other said something like, "Those prices are ruining the neighborhoods. I mean, how can working parents afford to support their families?"
I think that happens in any city in demand for whatever reason. Asheville has nice weather, lots of restaurants and other amenities and is (comparatively) culturally diverse. So it has become a prime destination for second homes and retirees who don't want to live in Florida. Just my opinion.
Ever do the math on interest paid vs depreciation on a 6 year loan? Sure, the bank will absolutely love you for it, but is it the best financial decision for you?? Personally I'll pass...
I agree. My last car was financed for 66 months, but I paid the loan off early. At the time I purchased it, I didn't have a trade (long story) and wanted a reliable car. The lower payment is the only reason to get a 66 or 72 month loan as long as you plan to pay it off early. Otherwise, it's better to get a less expensive car so you're not upside down for most of the loan.
Yep. It may be hard for locals to swallow but Asheville RE is still cheap compared to most other urban areas across the country. A Montford type location in Houston, TX is going to run $650-800k for a 5500sqft lot with no house.
Read Austin, Tx city data for the last 15-20 years to understand the likely trajectory for Asheville RE values.
The fine working folks of WNC dont have the jobs to support cash home purchases, unless they sold some land to a developer, more than likely from Charlotte, Atlanta and/or FL... those developers have bigger pockets.
Yep. It may be hard for locals to swallow but Asheville RE is still cheap compared to most other urban areas across the country. A Montford type location in Houston, TX is going to run $650-800k for a 5500sqft lot with no house.
Read Austin, Tx city data for the last 15-20 years to understand the likely trajectory for Asheville RE values.
You really cant compare Houston to AVL tho. And Austin TX has the jobs (TX in general does very well economically compared to other states). AVL's job situation, not so much. When you have teachers, firefighters, cops making $30k. I love AVL but ppl wont move there in large #'s with those salaries.
Yep. It may be hard for locals to swallow but Asheville RE is still cheap compared to most other urban areas across the country. A Montford type location in Houston, TX is going to run $650-800k for a 5500sqft lot with no house.
Read Austin, Tx city data for the last 15-20 years to understand the likely trajectory for Asheville RE values.
The wages are higher and it's not an apples to apples comparison when you compare a city with 885,000 people and 1.9million in the metro area to Asheville.
Quote:
Originally Posted by StreetSmarts
You really cant compare Houston to AVL tho. And Austin TX has the jobs (TX in general does very well economically compared to other states). AVL's job situation, not so much. When you have teachers, firefighters, cops making $30k. I love AVL but ppl wont move there in large #'s with those salaries.
I agree about it being not being a good comparison. However, most of the people moving to Asheville aren't concerned about the job market and low wages. Many are already retired or have higher level positions that allow them to work from home. I just hope Asheville doesn't lose its unique vibe when those who live and work here get pushed out from the city.
The wages are higher and it's not an apples to apples comparison when you compare a city with 885,000 people and 1.9million in the metro area to Asheville.
I agree about it being not being a good comparison. However, most of the people moving to Asheville aren't concerned about the job market and low wages. Many are already retired or have higher level positions that allow them to work from home. I just hope Asheville doesn't lose its unique vibe when those who live and work here get pushed out from the city.
Not to belabor this point, but just because people have a first, second, third, or fourth home in the Asheville area, it doesn't mean they are all retirees or even full-time residents. Where do you see the documentation for the assertion that "almost all" are retirees? Many of them might be more accurately described as seasonal or part-time homeowners, whatever their employment status.
Quote:
Originally Posted by QuilterChick
From everywhere. And not necessarily retirees.
I agree.
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