Home buying thread

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Khane

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Keep telling yourself that. It is subsidized to be bought at 138k. The point isn't that you can't flip it. Nobody is making the argument that it's BS because you could potentially make a profit. The same exact house right next door could sell for 400k. Identical layout, identical materials and appliances, identical garage. And the program draws a completely arbitrary hard line on income level to qualify, gives people who don't need 3 beds and 2.5 baths a 1900 sq ft house for pennies on the dollar, and is a blight to surrounding property values (potentially).

Answer my question, why is this program suitable or necessary? Why should everyone own a house, why is that a human right nowadays? What's wrong with living within your means and renting a modest apartment? Why should taxpayers foot this bill?
 
ZyyzYzzy

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Try finding an apartment in the DC metro area that is affordable and not a shithole for a family with that income.

Edit - I don't why you are so against giving the means of obtaining a house to lower income people in that area, when it is at the expense of the builder not the tax payer. Guess you are just a tiny dick faggot.
 
Joeboo

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I'm not against the overall idea of this program, but I guess my big question would be:

Why would you live in an area that you clearly can't afford to live in?

There's a damn nice neighborhood right next to my office, but the homes are about 2X the cost of my home. I'd love to live there and be able to walk to work, or ride a bike, but I can't afford it so I commute from 20 minutes away. I think most people have to deal with scenarios like this.
 
Khane

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ZyyzYzzy_sl said:
Try finding an apartment in the DC metro area that is affordable and not a shithole for a family with that income.
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So you don't agree that the program draws a ridiculous hard line? That a 1900 sq ft, 3 bed, 2.5 bath house isn't overkill and more than needed for 2 young people? We aren't talking about people who are disabled or a single parent with 3 kids here.
 
ZyyzYzzy

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Double post.

Khane, it isn't ridiculous. For one everything around here now is a goddamn shitty development like that one, where everything is excessive and large. So, finding an affordable modest house because that is smaller single will still be unaffordable by a lot. It is almost necessary in the area that this is done so those who don't make the median income to afford a home can. Salaries here are quiet inflated. Also, it is based on statistics for the area.
 
ZyyzYzzy

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joeboo_sl said:
I'm not against the overall idea of this program, but I guess my big question would be:

Why would you live in an area that you clearly can't afford to live in?

There's a damn nice neighborhood right next to my office, but the homes are about 2X the cost of my home. I'd love to live there and be able to walk to work, or ride a bike, but I can't afford it so I commute from 20 minutes away. I think most people have to deal with scenarios like this.
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That area isn't particularly desirable for the DC metro area.
 
Khane

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ZyyzYzzy_sl said:
Double post.

Khane, it isn't ridiculous. For one everything around here now is a goddamn shitty development like that one, where everything is excessive and large. So, finding an affordable modest house because that is smaller single will still be unaffordable by a lot. It is almost necessary in the area that this is done so those who don't make the median income to afford a home can. Salaries here are quiet inflated. Also, it is based on statistics for the area.
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Inflated cost of living I get. Expensive real estate I get. Giving a young, unmarried couple a house that's MUCH larger than they need as part of an assistance program I do not. In fact, assisting people in owning a house I don't agree with in this fashion. Assisted living for apartments makes perfect sense to me. If you can't afford a house how the fuck are you going to afford the maintenance on one? How are you going to fix that broken furnace or pay for the unexpected ground water flooding your basement?

You guys are latching onto this "But it's expensive to live here" argument. No shit it's expensive to live there. That doesn't mean everyone should get a subsidized house that is much larger than their needs require. This whole entitlement fiasco regarding homeownership got us into one fine mess and this program almost perpetuates that idiocy in my eyes.

Also, I want to know how fucking old this kid and his fiance are that they feel they deserve to be able to buy a house right now. If he says he's younger than 29 I'd flip my shit. Do what the rest of us normal, responsible Americans did. Save until you can own one on your own.
 
Cad

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Khane_sl said:
Inflated cost of living I get. Expensive real estate I get. Giving a young, unmarried couple a house that's MUCH larger than they need as part of an assistance program I do not. In fact, assisting people in owning a house I don't agree with in this fashion. Assisted living for apartments makes perfect sense to me. If you can't afford a house how the fuck are you going to afford the maintenance on one? How are you going to fix that broken furnace or pay for the unexpected ground water flooding your basement?

You guys are latching onto this "But it's expensive to live here" argument. No shit it's expensive to live there. That doesn't mean everyone should get a subsidized house that is much larger than their needs require. This whole entitlement fiasco regarding homeownership got us into one fine mess and this program almost perpetuates that idiocy in my eyes.
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If you can't afford a house buy a small condo or live in a trailer park out of town like all the other people who can't afford housing. If the housing market is very expensive, it's not just a "fact of life", its because A LOT OF PEOPLE WITH MONEY WANT TO LIVE THERE. When you artificially remove some tracts and install people with less money in there, you're doing two things: 1> You're hurting the property values of everything around your legally restricted tract, and 2> you're just fanning the flames of the already high property values elsewhere, because now there are even less properties available.

The property value is driven by a bunch of people with money who all want rather scarce properties. If there were shit tons of properties available then the values wouldn't be high.

Stupid program. The govt should let people live where they can afford, and if that drives all of the low income people out of an area and therefore kills the service industry in that area due to lack of workers, so be it. Thats the market. This heavy-handed interference with that real estate market is stupid.
 
Khane

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Cad_sl said:
If you can't afford a house buy a small condo or live in a trailer park out of town like all the other people who can't afford housing. If the housing market is very expensive, it's not just a "fact of life", its because A LOT OF PEOPLE WITH MONEY WANT TO LIVE THERE. When you artificially remove some tracts and install people with less money in there, you're doing two things: 1> You're hurting the property values of everything around your legally restricted tract, and 2> you're just fanning the flames of the already high property values elsewhere, because now there are even less properties available.

The property value is driven by a bunch of people with money who all want rather scarce properties. If there were shit tons of properties available then the values wouldn't be high.

Stupid program. The govt should let people live where they can afford, and if that drives all of the low income people out of an area and therefore kills the service industry in that area due to lack of workers, so be it. Thats the market. This heavy-handed interference with that real estate market is stupid.
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Completely agree.
 
Noodleface

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Yeah I basically have been living in scrub town for 2 years saving for a house. I can't get assistance though because I make too much, so I need to save up living in scrub town. I can't afford a house yet so I'm not buying one.
 
Intrinsic

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Khane_sl said:
If you can't afford a house how the fuck are you going to afford the maintenance on one? How are you going to fix that broken furnace or pay for the unexpected ground water flooding your basement?
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At this rate I just assume there are Government programs for that.
 
Joeboo

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A lot of people just assume that homeowners insurance pays for EVERYTHING that could go wrong with a house. I can't tell you how many times we have to break the bad news to someone that no, we aren't buying you a new hot water heater or air conditioner just because yours is old and stopped working.
 
Intrinsic

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joeboo_sl said:
A lot of people just assume that homeowners insurance pays for EVERYTHING that could go wrong with a house. I can't tell you how many times we have to break the bad news to someone that no, we aren't buying you a new hot water heater or air conditioner just because yours is old and stopped working.
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I love my home warranty; $600 for two new furnaces and a new A/C, works for me!
 
Khane

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People who assume homeowner's insurance covers anything at all need to re-evaluate their philosophy on any insurance period. Insurance is a racket. Plain and simple.
 
K

koljec_sl

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Cad_sl said:
When you artificially remove some tracts and install people with less money in there, you're doing two things: 1> You're hurting the property values of everything around your legally restricted tract, and 2> you're just fanning the flames of the already high property values elsewhere, because now there are even less properties available.
Click to expand...
I'd add that the program sets the owners up for failure, too. There is a lot more to a house than the mortgage payment. Are the owners given breaks on utilities, upkeep, and taxes, too?
 
Noodleface

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My car got broken into in my in-laws driveway while we all were asleep and homeowner's covered that (minus the deductible - they stole over $2000 in equipment from my car, stupid I know). Isn't that what the insurance is mainly for?
 
wormie

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Khane_sl said:
Keep telling yourself that. It is subsidized to be bought at 138k. The point isn't that you can't flip it. Nobody is making the argument that it's BS because you could potentially make a profit. The same exact house right next door could sell for 400k. Identical layout, identical materials and appliances, identical garage. And the program draws a completely arbitrary hard line on income level to qualify, gives people who don't need 3 beds and 2.5 baths a 1900 sq ft house for pennies on the dollar, and is a blight to surrounding property values (potentially).

Answer my question, why is this program suitable or necessary? Why should everyone own a house, why is that a human right nowadays? What's wrong with living within your means and renting a modest apartment? Why should taxpayers foot this bill?
Click to expand...
Its not the same exact house. On top of all the legal restrictions, the county controls the costs of the structures being erected and said county is required to compensates the builder no less than what these houses cost to build (but no more than that as well). The county is buying this shit at or maybe slightly above cost, and is then selling these houses to people at reduced prices since they (the county) are not seeking to maximize profits. This is possible because the law compels the builder, when erecting a housing development in this county, to build 30% of the houses in a development as affordable houses and sell these to the county at cost, the only subsidies here are from the builders.

You could know this if you had bothered to read the law that I linked a few posts back but hey, why bother reading anything when you can have an uneducated opinion about something and then get all butt hurt about this shit.
 
wormie

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Picasso_sl said:
I don't think you are picking up what we are putting down.
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The assumptions seem to be that some people are getting a 400k dollar asset for 180k due to some cost to the tax payer. I am trying to explain why this asset is not 400k and why the cost to the tax payer is either nominal or non existant all together.
 
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