You would be a fool not toI'm from D.C and looking for a house in pg and I still ain't reading all that shyt
Washington Post Special: Black homeowners in PG County have watched wealth vanish
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Hmmm this isn't always true that's why pg county was different .
A lot of upper middle class folks reside here .
Take my parents they live in a black community includes golf course and all .
When the market crash that shyt fukked up the value of the community . Before the crash their all black neighborhood been thriving and white folks weren't living here .
It's been slowly creeping but not enough .
True, but thats long term. You know folks ain't thinking long term like that, especially since before the housing bubble burst, folks were getting intoorr we can build up/take care of our own neighborhoods.
"worth" is subjective, and many times ya'll look at things thru the lense of ppl who hate you
homes they could not afford, often hoping to flip them. When I speak of worth, im talking purely property value, and that goes beyond just the homes.
Local business. Landscaping. The infrastructure, etc. The unfortunate reality has been that when black-held (not specifically owned) property is worth the most
is when wealth is coming through to displace the black residents and gentrify the area.
Supreme365
Superstar
Who determines the value of the homes
Mr Hate Coffee
Veteran
Home ownership, like all other investments is a risk. I always tell cats on the coli that.
Predatory lending is the root issue. These banks went directly after blue collar families that int he long run they knew couldnt afford these homes. They gave them balloon mortgages that after 5-10 yrs or so the mortgage payments doubled or tripled and the homeowners were screwed. Everyone thought the housing market was going to keep going up for some reason.
Might be time to foreclose and start over. Instead of struggle and have nothing to show for it.
Might be time to foreclose and start over. Instead of struggle and have nothing to show for it.
the key to it is to live within your means. Don't buy a 500,000 home with a flex mortgage and you only make 70,000 a year
dennis roadman
nuclear war in my bag
my mother in law lives in PG and it looks like it's recovered somewhat from this. you do see a lot of foreclosures on real estate sites, but in my experience there were more in montgomery county than PG.
this same article could be written for immigrant families in montgomery county. they lived in wheaton, silver spring for cut rates and now you can't even rent a one bedroom for less than 1350 and that's rent control
this same article could be written for immigrant families in montgomery county. they lived in wheaton, silver spring for cut rates and now you can't even rent a one bedroom for less than 1350 and that's rent control
THE MACHINE
night owl
My house is work 80k to the good but it's because of amortization. We pay nearly 4K/month on our mortgage which started out at 290k in '09. We're at 150k left and will be done in 2020/2021. The value of our home dropped to 188k and is back up. Our neighbors both recently sold at 250k. The real reason for the fukkery are those initial prices of the homes are way over their actual value. We should have invested the 400 dollars in an independent home inspection/estimate in the beginning. No way a home drops nearly 33% in 16 months. Probably could have paid 240-250 then. Lesson learned
THE MACHINE
night owl
We're looking at houses in Beechtree and Canter Creek. Might make a move in the next 2 years. PG County for life
Well Damn. I'm still debating with myself whether or not I should stay in the DMV. If I do I don't want to rent forever.
You've been here your whole life?We're looking at houses in Beechtree and Canter Creek. Might make a move in the next 2 years. PG County for life
Subs for later.
you lyingmy mother in law lives in PG and it looks like it's recovered somewhat from this. you do see a lot of foreclosures on real estate sites, but in my experience there were more in montgomery county than PG.
this same article could be written for immigrant families in montgomery county. they lived in wheaton, silver spring for cut rates and now you can't even rent a one bedroom for less than 1350 and that's rent control
