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re: Why are homeownership rates precipitously declining?
Posted on 8/31/16 at 9:51 am to Cooter Davenport
Posted on 8/31/16 at 9:51 am to Cooter Davenport
quote:
Stop buying suburb houses, people! Those things don't appreciate and not as much of the value is in the LAND! Buy a small old house in the city in a desirable area with a 15 year loan, hold it a few years, do a few repairs, or nothing, and then sell it for a profit and buy a nicer, more desirable place and repeat.
In what major city is this possible? Considering also that people want to live in a safe area, and want to have a large enough house to be able to have a family in, while being able to send their kids to school?
I mean, what you are saying is 100 percent correct about land appreciation... but you still have to live it the house in the meantime, and you still have to be able to afford to get in.
1
Posted on 8/31/16 at 9:56 am to LSUFanHouston
quote:
In what major city is this possible? Considering also that people want to live in a safe area, and want to have a large enough house to be able to have a family in, while being able to send their kids to school?
In Austin. The public schools in the central part of the city are excellent and there's no crime. But, define "large enough house". For most of the 20th century 1,600 SF 3/2 was plenty to raise a family in. Today, millinials are aghast if you suggest that they inhabit less than 3,200 SF.
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