Yeah, we're in N. Portland right off the Rosa Parks exit of the 5 and we bought in 2018 and we're a good 30-40% increase. And that's not factoring in all the remodeling and the fact that im currently converting the basement to another legal room.
NFR How's the housing market where you live?
- Thread starter swimmy
- Start date
Non-fishing related
Yeah, we're in N. Portland right off the Rosa Parks exit of the 5 and we bought in 2018 and we're a good 30-40% increase. And that's not factoring in all the remodeling and the fact that im currently converting the basement to another legal room.
Housing price increases are great in Seattle. I love where our family lives. The ROI will be fantastic once we sell!
BUT the property tax increases associated with the higher home prices is a killer when on a fixed income. The property tax amount went from 20% of my SS when I retired to 60% of my SS and that is before the price increase coming in 2022.
Reminds me of what happened to all the Montana people being forced to sell their places in the 90's because they could not afford the property taxes.
BUT the property tax increases associated with the higher home prices is a killer when on a fixed income. The property tax amount went from 20% of my SS when I retired to 60% of my SS and that is before the price increase coming in 2022.
Reminds me of what happened to all the Montana people being forced to sell their places in the 90's because they could not afford the property taxes.
DanielOcean
Fart! : )
Pretty bad out here in w washington. Wife and I have been working hard last 3 years to advance in our careers to make more money and got our credit in house buying territory and then this shit happened. I refuse to buy a house right now. I am starting to worry this will not change. This needs to be fixed for those that deserve a home and worked hard for it. 
yeah, same. we have done some MAJOR improvements on our house/back yard. Made a useless, muddy back yard in to a nice patio/gazebo area among many other things.
Ha. to say the least. When my daughter was born 3.5 years ago, I got an email from Charles Schwab about projected cost for a 4 year public college in 18 years and it was something like ~435,000.
cody-
Steelhead
I've recently been looking at jobs and houses in mid-sized (100k to 500k population) all across the southeast, southwest, west, and PNW. We gave up on trying to buy for the time being. I'm sure we could buy somewhere, and we sure considered it, but we don't want to be over-leveraging ourselves for a house when the alternative is living in apartments with better walkability, more recreation options, and that generally better fit our current lifestyles. No lawn maintenance either. 
I'll start looking again if construction on middle density condos and townhouses ever picks up. Never thought we'd be priced out with decent income, zero debt besides $1k on a car loan, and excellent credit scores, but here we are.
I'll start looking again if construction on middle density condos and townhouses ever picks up. Never thought we'd be priced out with decent income, zero debt besides $1k on a car loan, and excellent credit scores, but here we are.
I felt the same way in 2012, but finally came to the realization that it was going to keep going up, and no matter how hard i'd try, I'd never get ahead of it.Pretty bad out here in w washington. Wife and I have been working hard last 3 years to advance in our careers to make more money and got our credit in house buying territory and then this shit happened. I refuse to buy a house right now. I am starting to worry this will not change. This needs to be fixed for those that deserve a home and worked hard for it.
Many reasons, likely. I've got a buddy trying to move out of southern OR where he owns multiple properties because he's concerned that the worsening forest fire season will eventually make his investments worth nothing.
But I do think that the pandemic and the resulting "remote work" has made a lot of people realize that they don't need (or want) to live in a crowded city any more.
Plenty of that up in the North Sound WA, Seattle folks moving out of there and up here. We're probably not moving from the house we're in because we can't afford to make the next "step up" without vastly changing our family life/career-path. Even owning a house, the price increases are just too much to overcome.
It’s funny. I remember chatting with my grandfather about his first house purchase back in the late 50’s. How he haggled over the last $500 because he did not want to go over 24k…or something ridiculous like that. 24k is like a quote to remodel a single bathroom these days…
cedarslug
Steelhead
I mean check out how many people in the thread own multiple properties in desirable areas, or how many people are talking about wanting to buy more properties in desirable locations. Now look at how many people in the thread don't own property and won't ever be able to do so.
Now imagine the whole global population doing so that.
We're stuck in this pattern where land is finite, the super rich will own multiple properties and land. Making problems worse, the ultra wealthy will fight tooth and nail to keep their property values up, and prevent affordable housing from ever being built in these areas. We're seeing it in Bozeman, and we're seeing it when city dwellers can sell their homes and buy rural property with cash out right.
Now imagine the whole global population doing so that.
We're stuck in this pattern where land is finite, the super rich will own multiple properties and land. Making problems worse, the ultra wealthy will fight tooth and nail to keep their property values up, and prevent affordable housing from ever being built in these areas. We're seeing it in Bozeman, and we're seeing it when city dwellers can sell their homes and buy rural property with cash out right.
Glad you got to do it. We put a lot aside to do this house but in the long run it was worth it. Having both come out of treatment we had to start from nothing. We helped our kids get into that brand new house when the grandkids were coming. I think stable housing is crucial to security and happiness.
Meanwhile, in Detroit average home price is around $65K.
If Redfin is to be believed, our estimated price is up 6% 8 months after our purchase. Great, but barely keeping up with inflation!
I purchased a house for 84,000 in 1992. Paid it off in fall of 2011.
I am about done with the remodel and will sell it for over 400,000......with taxes and fees. So maybe 240,000 net?.
I rented it for about 10 yrs while paying only the insurance and taxes.
Made about 14,000 a year as a rental.
Its a basic 3 br 2 bath, 1300 sq ft. with a single car garage on 1/3 acre out near graham, wa.
Stupid prices!!!
I am about done with the remodel and will sell it for over 400,000......with taxes and fees. So maybe 240,000 net?.
I rented it for about 10 yrs while paying only the insurance and taxes.
Made about 14,000 a year as a rental.
Its a basic 3 br 2 bath, 1300 sq ft. with a single car garage on 1/3 acre out near graham, wa.
Stupid prices!!!
We bought our first home in 2017. Market was already tight then with low inventory and houses were selling fast. We put an offer on the first house we looked at for full ask 1 day after it was listed and that got the deal done. At the time I remember feeling sick to my stomach wondering if we had made a mistake. I was worried we were buying at the peak of the market. We had been looking for months and it was the first house that met our needs but I wasn't completely in love with the house. 5 years later and the value has nearly doubled (per redfin/zillow) and I now feel fortunate. Another house on our road that a hoarder lived in and trashed was sold for $315k 6 months ago to a flipper who just sold it for $635k ($10k over ask). I have a friend who believes he will never be able to afford a home, but rent prices are also through the roof.
They just built four houses on a lot near my place. The last one just went on the market for $2.475 mil. The other three were in that price range as well.
Almost directly across the street from those houses, they just torn down a house that closed at $510K.
A bit further up the hill, a nearly 3,200 square foot home on a 800 sq ft lot (that isn’t a typo) with a single car garage fetched $1.8 mil.
My property taxes on my little 1,500 square mansion are now nearly what my first mortgage was.
SF
Almost directly across the street from those houses, they just torn down a house that closed at $510K.
A bit further up the hill, a nearly 3,200 square foot home on a 800 sq ft lot (that isn’t a typo) with a single car garage fetched $1.8 mil.
My property taxes on my little 1,500 square mansion are now nearly what my first mortgage was.
SF
Last edited:
I live in Truckee California which has become an it destination for bay area work from home. We bought our first house for sub 100 about 25 years ago. Median is north of a million i read. Lots of issues with affordable and work force housekng.