As a NIMBY guy…I’m going to protect my investment. There’s plenty of affordable housing out there, it’s just not 10 minutes walking distance from an urban center.
I can go pay 20k cash and live in a trailer across town if I need to.
Edit: If you want to do it that way, you can rent said trailer for a pittance. I’d suggest you do, you won’t want to be there long.
Everyone wants low cost housing, no one actually wants to live in a low cost area.
Normally, the meaning of an investment is that they take a measure of effort, and sometimes, they don’t pan out.
But houses will always pan out, because everyone wants them, because they’re usually expected to go up in value, because everyone wants them, because they’re expected to go up in value, because…
Someday, mark my words, it’ll be a gold-buying bubble that bursts.
First off, housing isn’t a fucking investment. It’s a human’s basic need. Anyone thinking a roof over your head is an “investment” can fuck right off because your line of thinking IS the problem.
Which brings me back to the 20k trailer…it’s dirt fucking cheap. If you don’t think housing is an investment, you can easily afford rent or payments on 20k over 10 years with a minimum wage job.
However…I don’t see a lot of people scrambling for the “affordable” housing.
If you really want to socialize living space, there acres and acres of really empty, really cheap land in the fly over states. Grab an acre of land somewhere and you can house 100s of people on it.
Something tells me none of those options are appealing to you.
What will these differently-housed individuals do for income? Where will they work?
If they are in the middle nowhere as you claim, how will they physically get to their job? If they have to drive significant distances to get to these civic centers, then you have grossly underestimated the percentage of their income that would be slated for transportation.
Let’s do some math!
Your fantasy $20k trailer with your parameters, with an estimated $1000 initial cost for service connections would wind up being a bit more than $27k after APR adjustments.
Calculator
That winds up being $222 per month. What a steal!
Federal minimum wage is $7.25. Taxes are a thing, so $7.25 turns into $6.52.
An individual would have to work a bit more than 34 hours to afford just the dwelling.
We are assuming that this person is healthy, with nothing to prevent the individual from working.
Will this person have electricity? $122 or 18.7 hours
Will this person have clean water? $18 or 2.76 hours
Will this person require clothing?
Will this person have healthcare?
Will this person take any prescription medication?
Will this person have a dental plan?
Will this person pay for transportation (the vehicle, insurance, wear and tear, gas, and incidentals)?
Will this person support additional family members who are unable to work (children, elderly, injured, disabled)?
Will there be air conditioning and heating in this $20k trailer?
What will this person eat?
Going beyond the absolute basics:
What will this person do for entertainment? One cannot honestly expect a human to live without some form of stress relief.
Will this person have access to the internet? That is required for resume submission for almost every job.
What will this person save for retirement?
An individual would have to work a bit more than 34 hours to afford just the dwelling.
That’s reasonable…that’s around 1/4 of their income which is typically the guideline for housing if you want a savings account as well.
For reference, that’s roughly what I put in to afford my mortgage.
The rest of it is fluff “what ifs” and kind of out of context. We could’ve had universal income and health but people keep going with the safe choices on votes instead of the things we really need.
And the other items are not fluff. One has to be fed and clothed.
They are indeed fluff and out of scope for house prices. They have no impact on the house prices at all…and again…if you want to go down that road…I can get a full wardrobe for 100-150$ if I’m thrifty. Way less if I’m in a temperate climate. Food is also dirt cheap if you know how to cook.
As for what I pay on my mortgage…enough. It’s not a mansion, but a nice upper middle class home.
I also spent 2 years of my life dirt ass poor…rice and beans, and missing car payments poor. I can make due on pennies if I have to…but boy does it suck.
What’s your end game? Do you just want houses to be free? A 20k house trailer is as affordable as it gets.
NIMBY isn’t even a good financial position. Think about it. Say your area is rezoned for mixed use and you start getting apartments and condos on top of store fronts. Land value will skyrocket and all likelihood, you will come out ahead. Ever wonder why Manhattan and DC real estate is so expensive?
So then the apartments and condos become more expensive due to skyrocketing land values, not solving the problem of affordable housing? You can expand current low density zones with limited medium density without impacting values too much, but NIMBY concerns aren’t completely crazy. Either new zones are created for multifamily high density and medium density housing instead of opening single family low density zones for these projects, or we accept that as a society we are fine crushing a percentage of the middle class to solve housing for the lower classes. The top 10% may take a hit on real estate dips from rental properties, but not crippling. We can spread the damage slowly, but houses losing 10-30% value will cause a miniature 2008 wherever that happens.
This was caused by housing becoming a cornerstone step into and for remaining in the middle class instead of being a commodity like it was pre 1970/80. That probably wasn’t a good idea, but changing that removes the largest remaining leg of the middle class. All options moving forward will suck I think, and it will take a lot of work to resolve.
Let me tell you a story, when I was looking for my house we found a gorgeous 6 bed 4 ba all brick house with like 3500 sq feet for around 250k…it’s an insane price for that house.
I looked at it and found out there’s a section 8 unit next door. After asking around it ends up the place gets robbed every 2 months and the sellers are trying to give it away.
It ended up going for 175k.
That’s should have been close to a million dollar piece of property…now it’s a mom and pop tax firm.
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As a NIMBY guy…I’m going to protect my investment. There’s plenty of affordable housing out there, it’s just not 10 minutes walking distance from an urban center.
I can go pay 20k cash and live in a trailer across town if I need to.
Edit: If you want to do it that way, you can rent said trailer for a pittance. I’d suggest you do, you won’t want to be there long.
Everyone wants low cost housing, no one actually wants to live in a low cost area.
Normally, the meaning of an investment is that they take a measure of effort, and sometimes, they don’t pan out.
But houses will always pan out, because everyone wants them, because they’re usually expected to go up in value, because everyone wants them, because they’re expected to go up in value, because…
Someday, mark my words, it’ll be a gold-buying bubble that bursts.
You are trash.
“Low Income.” “20k Cash.” Pick one.
First off, housing isn’t a fucking investment. It’s a human’s basic need. Anyone thinking a roof over your head is an “investment” can fuck right off because your line of thinking IS the problem.
Which brings me back to the 20k trailer…it’s dirt fucking cheap. If you don’t think housing is an investment, you can easily afford rent or payments on 20k over 10 years with a minimum wage job.
However…I don’t see a lot of people scrambling for the “affordable” housing.
If you really want to socialize living space, there acres and acres of really empty, really cheap land in the fly over states. Grab an acre of land somewhere and you can house 100s of people on it.
Something tells me none of those options are appealing to you.
You have forgotten to factor in many things.
What will these differently-housed individuals do for income? Where will they work?
If they are in the middle nowhere as you claim, how will they physically get to their job? If they have to drive significant distances to get to these civic centers, then you have grossly underestimated the percentage of their income that would be slated for transportation.
Let’s do some math! Your fantasy $20k trailer with your parameters, with an estimated $1000 initial cost for service connections would wind up being a bit more than $27k after APR adjustments. Calculator That winds up being $222 per month. What a steal!
Federal minimum wage is $7.25. Taxes are a thing, so $7.25 turns into $6.52. An individual would have to work a bit more than 34 hours to afford just the dwelling.
We are assuming that this person is healthy, with nothing to prevent the individual from working.
Will this person have electricity? $122 or 18.7 hours Will this person have clean water? $18 or 2.76 hours Will this person require clothing? Will this person have healthcare?
Will this person take any prescription medication? Will this person have a dental plan? Will this person pay for transportation (the vehicle, insurance, wear and tear, gas, and incidentals)? Will this person support additional family members who are unable to work (children, elderly, injured, disabled)? Will there be air conditioning and heating in this $20k trailer?
What will this person eat?
Going beyond the absolute basics: What will this person do for entertainment? One cannot honestly expect a human to live without some form of stress relief. Will this person have access to the internet? That is required for resume submission for almost every job. What will this person save for retirement?
That’s reasonable…that’s around 1/4 of their income which is typically the guideline for housing if you want a savings account as well.
For reference, that’s roughly what I put in to afford my mortgage.
The rest of it is fluff “what ifs” and kind of out of context. We could’ve had universal income and health but people keep going with the safe choices on votes instead of the things we really need.
A quarter of their income for housing…for a fictitious $20k used manufactured home. Mind you, we never included the taxes or the rental or owned land.
And the other items are not fluff. One has to be fed and clothed.
And since you opened the door, what do you pay for your mortgage?
They are indeed fluff and out of scope for house prices. They have no impact on the house prices at all…and again…if you want to go down that road…I can get a full wardrobe for 100-150$ if I’m thrifty. Way less if I’m in a temperate climate. Food is also dirt cheap if you know how to cook.
As for what I pay on my mortgage…enough. It’s not a mansion, but a nice upper middle class home.
I also spent 2 years of my life dirt ass poor…rice and beans, and missing car payments poor. I can make due on pennies if I have to…but boy does it suck.
What’s your end game? Do you just want houses to be free? A 20k house trailer is as affordable as it gets.
Yes, because all the jobs are in the middle of the woods somewhere.
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Close to there actually. I see them go for that cheap all the time…It’s tempting as hell to liquidate everything and go buy one and retire.
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https://www.zillow.com/homedetails/21-Court-Rd-Richmond-IN-47374/2056027276_zpid/
There’s a few over there.
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Holy shit, you solved homelessness, good job! All we need is to have 20k in cash and then… wait.
NIMBY isn’t even a good financial position. Think about it. Say your area is rezoned for mixed use and you start getting apartments and condos on top of store fronts. Land value will skyrocket and all likelihood, you will come out ahead. Ever wonder why Manhattan and DC real estate is so expensive?
So then the apartments and condos become more expensive due to skyrocketing land values, not solving the problem of affordable housing? You can expand current low density zones with limited medium density without impacting values too much, but NIMBY concerns aren’t completely crazy. Either new zones are created for multifamily high density and medium density housing instead of opening single family low density zones for these projects, or we accept that as a society we are fine crushing a percentage of the middle class to solve housing for the lower classes. The top 10% may take a hit on real estate dips from rental properties, but not crippling. We can spread the damage slowly, but houses losing 10-30% value will cause a miniature 2008 wherever that happens.
This was caused by housing becoming a cornerstone step into and for remaining in the middle class instead of being a commodity like it was pre 1970/80. That probably wasn’t a good idea, but changing that removes the largest remaining leg of the middle class. All options moving forward will suck I think, and it will take a lot of work to resolve.
Now look at home prices next to low cost areas…
Let me tell you a story, when I was looking for my house we found a gorgeous 6 bed 4 ba all brick house with like 3500 sq feet for around 250k…it’s an insane price for that house.
I looked at it and found out there’s a section 8 unit next door. After asking around it ends up the place gets robbed every 2 months and the sellers are trying to give it away.
It ended up going for 175k.
That’s should have been close to a million dollar piece of property…now it’s a mom and pop tax firm.