I am coming to realize that my rural perspective is pretty different, and that lots of people live in way higher cost of living areas than I do. My biggest suggestion is if you don’t like expensive housing, get out of the city.
A conundrum
Submitted 2 months ago by ickplant@lemmy.world to [deleted]
https://lemmy.world/pictrs/image/15e46ee1-78e0-4f48-b909-bd21d684306c.jpeg
Comments
JoeBigelow@lemmy.ca 1 month ago
MiDaBa@lemmy.ml 1 month ago
This really isn’t as easy as it sounds. Moving means you lose your support system of friends and family etc. Some people have children and need the grandparents to help watch them during the day as just one example. Job opportunities are likely not the same. While their current city job may not pay a lot the opportunities from that job could lead a lot higher but of course life choices can be a gamble. On top of all of that, moving long distance is difficult and expensive.
I have a highly intelligent friend from a small southern town and he moved out of there because he recognized there weren’t any opportunities for someone with talent but no capital. Sure he could have stayed and bought a cheaper house but he’d still struggle to make the payment on his small salary.Wisas62@lemmy.world 1 month ago
You realize the headquarters of Walmart are in Arkansas? There are plenty of very high paying jobs in significantly more affordable places. Also if you pay 1/4 less for a house, and add daily childcare it’s still gonna be cheaper. People literally do it all the time, the whole concept of the suburbs was created so that people could afford houses.
JoeBigelow@lemmy.ca 1 month ago
I moved to the small town. I’m a college drop out, there’s always labor in the country, and I guess I just don’t want as much from life as other people. I’ll be happy working maintenance the rest of my life of it keeps providing.
jmf@lemmy.dbzer0.com 1 month ago
This is an unpopular take, but that is reality. It really is affordable out here! If you want more income, learn to repair reliable japanese beaters and commute a little. It’s less busy than the city, and it may bore some, but it keeps the bills paid, the kids fed, and the 401k growing.
aeiou_ckr@lemmy.world 1 month ago
I tried and here are some places I have looked where the average home is $810,000 come to find out.
Pinedale, Wyoming, USA Ennis, Montana, USA
These are in the mountains about 1 hour from the nearest big city of Jackson, Wyoming and Bozeman, Montana. I guess I need to look in the deep sticks.
JoeBigelow@lemmy.ca 1 month ago
Are you really confused why those properties are expensive? Those are both desirable locations in regions with quickly growing populations. How about Livingston, or Butte?
xavier666@lemmy.umucat.day 1 month ago
If city folk starts coming to rural area, they will start complaining that city people are jacking up property prices.
Noodle07@lemmy.world 1 month ago
The problem is some jobs are only inside the city
MNByChoice@midwest.social 1 month ago
We know.
There are a number of people that have a home in the country with their family, and they travel to the city to work. Sometimes they are homeless during the work, or rent a small room.
No, it is not the ideal solution, but it is a solution. Fixing the housing situation is beyond most people’s power, and it will take a long time for those trying to fix it to actually fix it.
MDCCCLV@lemmy.ca 1 month ago
Very dependent on the field. A lot of jobs are concentrated in a handful of major cities, mostly very HCOL but with high salary. That’s why remote work becoming bigger partially caused the housing surge nationwide.
devedeset@lemmy.zip 1 month ago
Bad take. In my situation it went from us paying $1900 in rent to paying $4500 in mortgage.
grrgyle@slrpnk.net 1 month ago
How??!
jj4211@lemmy.world 1 month ago
While renting in some markets can be cheaper than typical mortgage for comparable homes, the amount indicated seems a bit insane.
So either he is in a crazy real estate market, or there’s some additional context that makes it a poor comparison (going from renting in Virgina to Mortgage in San Francisco, going from a 1500 qt ft townhouse to a 3000 sq ft detached house with a quarter acre of land, or going for a 10-year mortgage). Or he’s just making it up or exaggerating because it’s the internet.
Interestingly enough that $4500 is pretty much exactly what it would be with 20% down on a $500,000 house for a 10-year mortgage. Of course, I’d expect such a house to rent for about $2700 rather than $1900. I could easily imagine he was renting a 2000 square foot 3 bedroom for $1900 and moving to what seems ‘slightly better’ 3000 square foot 3 bedroom with an extra special room or something, seeing that the 10-year mortgage is much cheaper in the long haul and going for it despite the huge monthly payment in the short term.
Agent641@lemmy.world 1 month ago
Well you made a choice. Either you knew you could make the payments for the price range you bought into, or you didn’t read the repayments figures on any of the documents the bank sent you and made a massive decision uninformed.
I pay 20% more for my mortgage than I did on my rent, but the house is also better, I can easily afford it, and I made that choice willingly and I’m happy with that arrangement.
devedeset@lemmy.zip 1 month ago
The bad take I was referring to was OP claiming the mortgage payment would be lower than the rent payment. In the US this is almost never the case.
jj4211@lemmy.world 1 month ago
It depends on the market. Around here is similar, the market rental rate for a house is lower than what even the most lowest realistic monthly mortgage payment would be, but only by about 10% or so. I don’t know if you also dramatically upgraded your home quality.
Not too long ago around here it was the same as the post, renting higher than mortgage.
Even then over long term, the mortgage would make sense, since you can sell and get back some of the money and your principal and interest won’t magically get bigger because of market conditions.
In a sane world renting should be a touch cheaper than mortgage over the first few years, with tenants that only plan to be there 2 or three years. The owner gets a little income while taxes and insurance get paid and their asset maintained, and the tenant gets an easier and cheaper house to move in and out of for a short term living arrangement. Problem being when the market is upside down and when tenants are stuck never being able to build equity.
rabber@lemmy.ca 1 month ago
I hate the housing situation too but this is seriously a braindead take
aBundleOfFerrets@sh.itjust.works 1 month ago
Braindead take? This is just the reality of the situation for a lot of people
devedeset@lemmy.zip 1 month ago
Mortgage payments are almost never lower than rent unless you are seriously downgrading
rabber@lemmy.ca 1 month ago
I know that it is why why would you be entitled to own a home just because you can make rent payments? Do you think the bank should give you a mortgage with $0 down? There are enough people buying who can save a down payment just fine
FosterMolasses@leminal.space 1 month ago
More like a braindead comment
PhillyA92@lemmy.world 5 weeks ago
And on top of that, they made any alternative illegal! You want to live in your van? Illegal, you want to build a tiny house? Illegal. It’s insane
Ray3x10e8@feddit.nl 1 month ago
Hmm. What if we abolish private property?
NickwithaC@lemmy.world 2 months ago
500 Vs 1000? What year is it?
TankovayaDiviziya@lemmy.world 2 months ago
Not buy a house, inherit a house from our boomer parents.
bstix@feddit.dk 2 months ago
They’ll sell it to pay for the elderly homes.
You’ll only inherit the clay ashtray that you made for them in 3rd grade.
outhouseperilous@lemmy.dbzer0.com 2 months ago
Who didnt reverse mortgage it to pay for extravagant vacations.
DeathByBigSad@sh.itjust.works 2 months ago
Boomer parents: emotionally abuses you for your entire childhood/teenhood
Me: Has severe depression
Boomer parents: “WHY ARE YOU SO LAZY AND UNGRATEFUL, USELESS EATER, BURDEN ON SOCIETY” then proceeds to threaten to leave me out of the will.
Funny thing is, she also threatens to leave my older brother out of the will. Basically she tries to make us hate each other, and we do hate each other. My entire family is dysfunctional. They are all conservatives, racists, LGBT+ phobic, has the toxic masculinity mentality, ableist af. They think anyone with a slight disability deserves to get executed because its “a waste of resources”. This is why dislike my ancestral homeland, it reminds me of hatred and intolerance.