Comment on White picket rents: Tenants are flooding the suburbs where they can't afford to buy
partial_accumen@lemmy.world 1 week ago
In the early 2000s I bought an older small starter home in a LCOL city right next to an affluent suburb. Over the next 15 year I watched as my owner-neighbors moved out as many of the homes became rentals. I grew to know my new rental neighbors and asked if they rented because they only wanted to live temporarily in the city or other reasons. All of them cited that buying the homes they were renting were out of reach for them financially. I moved out of that home and sold it a few years ago. The couple that bought it were living with their parents and said they were looking to start a life together in a home of their own. Keep in mind they were the highest offer, so their story didn’t sway me either way, but it was nice to know that my home wouldn’t become yet another rental.
Thirty days post closing, the property deed changed information showed their names as owners removed and then showed an LLC as owner. My old starter home is a rental property now…like so many others in the neighborhood.
MutilationWave@lemmy.dbzer0.com 1 week ago
I’m not calling you out specifically, I hope you don’t take offense, but I really hate the term “starter home”. Most of us will never own a home of any size so it comes off bougie.
partial_accumen@lemmy.world 1 week ago
When I bought it decades ago, it was far from bougie. However, those two works as a name communicated exactly what kind of house it was for the purposes of explaining the situation. What two word name do you believe would be more appropriate without being too verbose?
Would you be able to afford a $150k home?
MutilationWave@lemmy.dbzer0.com 1 week ago
I would just call it a house or a home. The implication for starter home to me is this is just until I get rich. Maybe I’m alone in thinking that way but I don’t care for people discussing their wealthb publicly when so many have nothing.
Yes, I’m lucky enough that I could afford a home at that cost, with a mortgage of course. But I’m not getting much work right now (freelance contractor) and it could end up being a bad decision. So we stay in our $750 per month rented house for now.
partial_accumen@lemmy.world 1 week ago
That’s not nearly descriptive enough. At the description a “house” Is it a small 2 bedroom 800sq ft bungalow or is it a giant 6000sq ft sprawling estate? With “starter home” the audience could tell exactly that I meant the small place.
That’s not the “start” the “starter home” is referring to historically. It means “starting to live on your own” and “having to house just yourself”. For most, it means two people, and maybe a very young child. As you age, your family living space can change. This could mean from having more kids to housing your elderly parents.
You’re welcome to your own opinion, but I think its too far to try to make discussing owning a home to be a taboo subject.
Certainly with a mortgage. I still consider that "affording a house. Those houses at $150k, and many cheaper are available right now for ownership in LCOL cities and towns, which is where mine was when I bought it decades ago.