There are too many reports that have said we are in the new normal. There is no stabilization. This is the new world. The "poor" will never own anything and the working class has become the poor
Damn. So it’s cheaper to rent instead of own in America’s 50 largest metro areas. Yikes.
- Thread starter Sad Bunny
- Start date
Mike Nasty
Superstar
Home owners insurance will be a thing of the past in Florida
Mike Nasty
Superstar
We are already in a recession. People just don't follow economics to understand what a recession is. We are experiencing more than just a recession, which is why it's so rough out here right now
Yapdatfool
Superstar
Better link for OP:
www.kiplinger.com
Link to the study:
Renting Is Cheaper Than Buying in All 50 States. How Does Your City Compare?
Renting is cheaper than buying, according to a new Bankrate survey. In 21 U.S. metros, the monthly cost of owning is at least 50% more expensive than the monthly cost of renting.
www.kiplinger.com
Link to the study:
Study Shows Renting Is More Affordable In The 50 Largest Metros | Bankrate
Rent prices have softened over the last year, and the housing market creates a strong headwind for aspiring homeowners.
www.bankrate.com
The next major hurricane is gonna wipe out a ton of homeowners and insurance companies in Florida. I'm trying to convince family members to abandon that state before it's too late.
Mike Nasty
Superstar
In any other state you have to wonder how likely are you to burn down your house, and roll the dice. Florida it's different, and it's the insurance companies that are pulling out first.The next major hurricane is gonna wipe out a ton of homeowners and insurance companies in Florida. I'm trying to convince family members to abandon that state before it's too late.
To live comfortably in LA as a single person, you need to make at minimum $100,000. Comfortably means all of your monthly bills are paid and you still have a funds left over for leisure or an emergency.
I'm doing well for a single guy with no children in LA. But I know I would be doing much better if I lived in another state like Texas.
22K one time fee and $1,800/mo in HOA dues. Are these politicians in Florida insane?
Sounds like they want to kick out home owners. And let the Corporate buyers swoop in a buy up everything for cheap.
Young Florida condo owner fears she’ll lose her home after ‘exorbitant’ HOA fee hike
finance.yahoo.com
The letter came from Brawdy’s condo association board of directors. It stated that, by Florida law, the condo needed to fill up its reserves by “millions of dollars” and the board would soon vote on a plan to collect that money from unit owners.
Brawdy explained: “First, there will be a special assessment fee, which will help to fully fund our [condo association’s] reserves — and this fee would range from $11,148 to $22,104. My 810-square-foot unit home would be assessed a $15,569 fee. Fifty percent of this would be due June 30 and the other 50% would be due July 31.”
She said that on top of the special assessment fee, they would also raise the monthly HOA dues, effective June 1. “I would go from paying $651 a month to $1,824 a month,” she said
Sounds like they want to kick out home owners. And let the Corporate buyers swoop in a buy up everything for cheap.
Young Florida condo owner fears she’ll lose her home after ‘exorbitant’ HOA fee hike
‘Need desperate help’: Young Florida condo owner fears she’ll lose her home after ‘exorbitant’ HOA fee hike
Some owners could be asked to cough up $22,000 in just two months.
The letter came from Brawdy’s condo association board of directors. It stated that, by Florida law, the condo needed to fill up its reserves by “millions of dollars” and the board would soon vote on a plan to collect that money from unit owners.
Brawdy explained: “First, there will be a special assessment fee, which will help to fully fund our [condo association’s] reserves — and this fee would range from $11,148 to $22,104. My 810-square-foot unit home would be assessed a $15,569 fee. Fifty percent of this would be due June 30 and the other 50% would be due July 31.”
She said that on top of the special assessment fee, they would also raise the monthly HOA dues, effective June 1. “I would go from paying $651 a month to $1,824 a month,” she said
Yeah, that's the best option for us. Just take vacation days and get a couple weeks out there to get a change of scenery. Ain't much here in the part of Illinois we live, but it is cheap.My wife and I were considering moving out there when she was making $200k and I was making $150k and we just decided to stay here and fly out there or visit her parents in Florida when we wanted sunshine and beaches, because a nice place was at least two million dollars, and it would be insane to be making that much but still paying so much for a basic house that was still nice.
If you can only afford 3 percent then you can't afford the home, the payments gonna be crazy
Not true.
My sister in law put down 3.5% and got a house for $1200 a month.
I only put down 5% when I bought my house.
What was the price of the home and interest rate?
Hers was maybe 215K? Idk the rate but we both bought in 2021 so of course we got good rates
People save and buy houses everyday, b. I don’t subscribe to that loser ass attitude. Sorry. Buying a house is doable for everyone. There are so many programs etc.
I put those numbers in a mortgage calculator and it looks like the Interest rate would've had to been like 2 percent which is insane in retrospect with only 3 percent down.Hers was maybe 215K? Idk the rate but we both bought in 2021 so of course we got good rates
215k is also way below the median home price so yeah it must've been a great circumstance. Today that shyt would cost 2k a month minimum