need feedback on my neighborhood | TigerDroppings.com
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dallastiger55
LSU Fan
Jennings, LA
Member since Jan 2010
6610 posts

need feedback on my neighborhood

first let me state that this might sound bad but i honestly want some honest feedback on why this is happening

moved into (what i thought was) nice neighborhood that starts in the low 300s and also has home into the 500s.

ive noticed over the past year or two that its gone downhill and now most people on our street are either white trash, mexican, or ghetto blacks who dont take care of their yard and drive POS cars.

im not saying 350/400k is crazy money but how do you think these people are affording these houses? especially with the limitations on loans nowadays. my neighbor and his wife live in a 400k house and shes a teacher that might make 50k a year and he works at kroger as a bagger. What am i missing here? my wife and i both have good jobs and we dont get it.

we are trying to get out soon


lsufanintexas
LSU Fan
Member since Sep 2006
3991 posts

re: need feedback on my neighborhood
Welcome to any neighborhood in Texas. We have been here 8 years in our neighborhood and it's gone downhill since that time.

Hell, one dude was driving his car down the street the other day and he had tiny speakers on the OUTSIDE of his car blaring some Chicano music. It was insane.



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anc
Member since Nov 2012
3616 posts

re: need feedback on my neighborhood
Red White and Blue Neighborhood.

Redneck, White Trash that Act Like Bluebloods.



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anc
Member since Nov 2012
3616 posts

re: need feedback on my neighborhood
Red White and Blue Neighborhood.

Redneck, White Trash that Act Like Bluebloods.



pdubya76
Ole Miss Fan
Amite County,Ms.
Member since Mar 2012
2061 posts

re: need feedback on my neighborhood


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EA6B
Navy Fan
TX
Member since Dec 2012
1885 posts

re: need feedback on my neighborhood
quote:

my neighbor and his wife live in a 400k house and shes a teacher that might make 50k a year and he works at kroger as a bagger. What am i missing here? my wife and i both have good jobs and we dont get it.


Meth lab!


brbowhunter
LSU Fan
baton rouge
Member since Apr 2013
846 posts

re: need feedback on my neighborhood
drugs brah. your in texas everybody slangs drugs


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Jake88
George Mason Fan
LSU/Saints Fan
Member since Apr 2005
12363 posts

re: need feedback on my neighborhood
Are some of the owners renting through Section 8?


LSURussian
LSU Fan
Member since Feb 2005
85152 posts

re: need feedback on my neighborhood
Soooooo, you're saying your neighborhood started going downhill right after you moved into it..????


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Salmon
USA Fan
On the trails
Member since Feb 2008
34620 posts

re: need feedback on my neighborhood
Were a lot of these homes foreclosures?


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LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5528 posts

re: need feedback on my neighborhood
This is just a guess, but when rates got so low, a $50k/year salary would buy you a whole lot of house. A house in the low 300's on a 30 year note at 3% is only about $1800/month after taxes/insurance, and that's probably on the high side. If the bag boy is making $20K/year, the bank would almost definitely approve them for that loan.

Foreclosure is another good guess.


ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
7601 posts

re: need feedback on my neighborhood
Why HOA's are a necessary evil.


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Powerman
LSU Fan
Corpus Christi, TX
Member since Jan 2004
121300 posts

re: need feedback on my neighborhood
quote:

If the bag boy is making $20K/year, the bank would almost definitely approve them for that loan.


Not quite


Paul Allen
USA Fan
Baton Rouge, LA
Member since Nov 2007
33536 posts

re: need feedback on my neighborhood
quote:

only about


1,800 isn't cheap for a mortgage IMO, especially one making 50k


LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5528 posts

re: need feedback on my neighborhood
quote:

quote:
If the bag boy is making $20K/year, the bank would almost definitely approve them for that loan.

Not quite



$9/hr, 40 hours/week, 52 weeks/year = $18,720. Not that far of a stretch.


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LSUGUMBO
New Orleans Saints Fan
Shreveport, LA
Member since Sep 2005
5528 posts

re: need feedback on my neighborhood
quote:

1,800 isn't cheap for a mortgage IMO, especially one making 50k


I don't think it's really that cheap either, but my point is that it's not out of the realm of possibility. If their credit was good, I'm sure that $70K/year would get approved for a $300,000 note, when the rate is 3%- maybe even less if the bank got them in to an ARM. At it's lowest, you could have gotten a 5-1 ARM for under 2.5%. That's under $1200 for P & I, assuming they financed $300K.


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GaryMyMan
USA Fan
Shreveport
Member since May 2007
11476 posts

re: need feedback on my neighborhood
I understand that in some cities you don't really have a choice but this is why I will never buy a house in a suburb. Or in a new neighborhood. Once the newness wears off all you're left with is cheap construction and lack of trees. I'd much rather have a renovated smaller house in an old neighborhood that doesn't have high turnover.
This post was edited on 8/5 at 11:58 am


fishfighter
LSU Fan
Baton Rouge
Member since Apr 2008
21194 posts

re: need feedback on my neighborhood
quote:

Are some of the owners renting through Section 8?


This due to the fact banks ate so many loans.


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dewster
Vanderbilt Fan
Pittsburgh
Member since Aug 2006
9998 posts

re: need feedback on my neighborhood
It being a suburb doesn't have any bearing on that.

A safer investment is established neighborhoods that remain desirable after the newness wears off. That could be in a suburb, in a city....wherever. It also means economic segregation. Few neighborhoods with giant multi family apartments nearby remain viable long term.

I avoid large scale homebuilders because they'll finance anyone to sell a house.....if they do that, the quality of construction doesn't matter. It's going down. Owners who can't sell will rent to subsidized tenants if they have to. This is sort of what happened in Gardere during the oil crunch in the 1980s

I feel bad for people who bought into new developments in 2005-2008 if they are trying to sell now.
This post was edited on 8/5 at 12:36 pm


dallastiger55
LSU Fan
Jennings, LA
Member since Jan 2010
6610 posts

re: need feedback on my neighborhood
quote:

I feel bad for people who bought into new developments in 2005-2008 if they are trying to sell now





FML


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