I love the people talking about buying starter houses when most of the old starter house neighborhoods are now filled with Sec. 8 properties that make owning in that area a big risk. Crime rates are very low right now in total (compared to the '80s and '90s), but there seem to be fewer and fewer starter house neighborhoods that aren't out in the suburbs. Those cheap house suburbs tend to drop off hard once they get a few years old too, which makes buying there a big risk.

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Posted by Teddy Ruxpin

Member since Oct 2006

39606 posts

Posted on 8/31/16 at 11:14 am to CorporateTiger

quote:
Those cheap house suburbs tend to drop off hard once they get a few years old too, which makes buying there a big risk.

I'd be terrified to buy in a neighborhood like that. You see it all the time. It's great until the next best thing pops up .5 mile down the road.

If you look at those neighborhoods long term, many of those homes will consistently sell at essentially the same price over time, rising up and down. Which isn't always a bad thing considering the alternative is cratering.

This post was edited on 8/31/16 at 11:16 am

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Posted by slackster

Houston

Member since Mar 2009

85136 posts

Posted on 8/31/16 at 11:29 am to CorporateTiger

I'm of the opinion that a home being an appreciating asset is going to come under significant pressure in the next decade or so. Up until this point, essentially any home built 20+ years ago is more valuable today than it was then, regardless of location. Going forward I think only the highly desirable areas will see similar appreciation due to the increasing flexibility that technology brings to most jobs.

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