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rent or house payments

0patience0patience Posts: 10,665 ✭✭✭✭✭
in Non Cigar Related
I guess I'm a little out of touch with these, since I have no mortgage or rent payment.
But in 1980, I paid $65/month for rent on an apartment 
In 1988 I paid $350/month for rent on a 3 bedroom house.
In 1996, our house payment was $650.
Most of the time, the payment or rent was between 25-30% of my income.

And now rent for apartments is about $1300-1600/month and houses are $180K-up.
Payments on that are $1500-up.
Which equates to a major percentage of most people's wages.
What happened to reasonable housing costs compared to income?

How are people making it?
With water/sewage/garbage being in the $150 range, electricity ranging between $150-200.
Just the basics for anyone starting out takes most everything to live.
Add phone, cable and other necessities, starting jobs won't even cover it.

In Fumo Pax
Money can't buy happiness, but it can buy cigars and that's close enough.

Wylaff said:
Atmospheric pressure and crap.
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Comments

  • NorCalR1NorCalR1 Posts: 4,197 ✭✭✭✭✭
    I wish those prices existed in the Bay Area
    Rent for our 2 bedroom apartment =$3,100 a month.
    Cost for a house in San Jose $1.2 million ( and that is a single family 3 bedroom 2 bath built in the 1960’s) 
    Anything newer or remodeled $1.5 million.
    Most expense place to live in the country! Houses here went up by 9% over the last year and it is not uncommon for a house to go for $100k over asking price.

    If you want to bomb me send it to Tony @0patience :D
    If you are a newbie I got Dem nachos....

  • LoneSmokerLoneSmoker Posts: 286 ✭✭✭
    Almost impossible for a single person to even get an apartment on their own anymore without a roommate. It's truly sad. In 2008 I had an apartment for $830/month that same apartment is $2300/month and the only difference was they painted the outside of the apartments. I currently rent a room in someone elses house. At 46, I'll probably never own my own home and can only hope for an apartment.
    LoneSmoker

    With just a single cigar, we can escape from the cares of the world. - Richard Carleton Hacker
  • WaterNerdWaterNerd Posts: 3,368 ✭✭✭✭✭
    Unfortunately houses in California are crazy expensive. Your right how do young adults get in. Average age around here when people buy a house are in their mid 30's early 40's. With a 30 year mortgage they will have to work till they are 70 before its payed off.
    Better to remain silent and be thought a fool than to speak out and remove all doubt
    — Abraham Lincoln


  • 0patience0patience Posts: 10,665 ✭✭✭✭✭
    I would imagine that the rent and house prices escalate with what ever is the common income for the area.
    But in order for someone to afford a 3 grand rent payment, they'd have to be making at least $8k/month to be able to make rent, utilities, vehicle and all that.

    We own a 1300 square foot manufactured home and pay $350/month for the lot rent. And that $350/month equates to about what we paid in taxes on our old house.

    Around here, $4k/month is considered high wages.
    And usually that's skilled labor or professional who's been there for quite some time.


    In Fumo Pax
    Money can't buy happiness, but it can buy cigars and that's close enough.

    Wylaff said:
    Atmospheric pressure and crap.
  • NorCalR1NorCalR1 Posts: 4,197 ✭✭✭✭✭
    To purchase a house in San Jose the annual household income needs to be $200k. 

    If you want to bomb me send it to Tony @0patience :D
    If you are a newbie I got Dem nachos....

  • Bob_LukenBob_Luken Posts: 10,710 ✭✭✭✭✭
    student life politics GIF
  • MarkwellMarkwell Posts: 1,616 ✭✭✭✭✭
    edited February 2018
    Y'all just summed up the reason why so many of us '90s kids are still living with mom and pop. It' not because we're lazy (speaking personally anyhow)...it's because we flat out can't afford a cardboard box.

    Back when I was working at the railroad I was making a whole $9.50/HR plus 4hrs OT per week. That barely paid for my gas, food, and car insurance and is why I ultimately had to resign and move back in with my folks (300 miles away) once my grandmother was no longer able to live on her own with my help. 

    Fast forward and I'm now at a gas station making  $0.75 less than I was at the railroad, but my commute is also half the distance so I'm basically still in the same hole. There are few good jobs to be had in the area and those that are available either require a college education (which I could not afford) or 2-3 years of experience in that field. How can one acquire experience if nobody will train them?

    Something has to give and I don't believe raising minimum wage is the answer. If the minimum is raised businesses will be required to pay their employees more, which means that consumer prices will also go up. Consumer prices go up, consumers suffer, etc etc. It's a cycle that will ultimately put us in the same inflated boat which we're already struggling to keep from capsizing. 
    “Happiness? A good cigar, a good meal, a good cigar and a good woman – or a bad woman; it depends on how much happiness you can handle.” – George Burns
  • Amos_UmwhatAmos_Umwhat Posts: 8,802 ✭✭✭✭✭
    I think this is why housing "bubbles" pop.  Corporate / Banking America remains convinced that they can get something for nothing, and since the so-called "two party" system belongs heart and soul to them, and them alone, they can.
    WARNING:  The above post may contain thoughts or ideas known to the State of Caliphornia to cause seething rage, confusion, distemper, nausea, perspiration, sphincter release, or cranial implosion to persons who implicitly trust only one news source, or find themselves at either the left or right political extreme.  Proceed at your own risk.  

    "If you do not read the newspapers you're uninformed.  If you do read the newspapers, you're misinformed." --  Mark Twain
  • YankeeManYankeeMan Posts: 2,654 ✭✭✭✭✭
    When I lived in Ithaca, rent was stupid high.  With Cornell and Ithaca College, they had a captive audience.  They would split up a 4 or 5 bedroom house and charge as much as 1,500 to 1,800 dollars a month for a ROOM, with use of the common living area, bathroom and kitchen. 
  • MartelMartel Posts: 3,306 ✭✭✭✭
    Though we knew it was a regional difference, housing where we are stinks.  Indy was cheaper; Memphis (where we lived after Indy) is some of the lowest costs of housing in the country (there or Harlingen, TX).  

    Here, in PA, our home that was $130k in Indy would sell for over $200k.  We live in an old farmhouse with lots of problems, but we rent.  $1375/month.  It's kind of a steal in some ways and we're probably the best tenants the landlord has ever had so he isn't keen on kicking us out like he's been known to do on a whim.  There's no way we could afford the property to purchase because he uses three of the outbuildings and they can't be subdivided off.  

    My wife talks about buying sometimes, but I'm much more in favor of renting, but there's hardly a rental market around here. We were lucky to find the place.  I don't think real estate is much of an investment.  If anything, it's a burden.  Appreciation in value is kind of an illusion, and I was convinced of this before the recent bubble burst.  It just confirmed my belief.

    Living is expensive.  At least work lets me use their dumpster and we can recycle once a month at the township so I don't have that bill.  We've got a well and septic.  Electricity and heat oil for the old fashioned hot water radiators are the only utilities we have 'ceptin TV/Internet/Cells.  That helps a ton.

    Intelligence is knowing that a tomato is a fruit; wisdom is knowing not to put it in a fruit salad.

    I like Oliva and Quesada (including Regius) a lot.  I will smoke anything, though.
  • jw517jw517 Posts: 234 ✭✭✭
    I rent my moms house here in Wi. To my nephews step mother and father. I know, not the best decision. They are great though so far. It's in the country,they have a BIG yard,new roof,new sewer,new electrical,paint inside and out. I charge them 750.00 a month. I could get more but the guy can fix anything! 
  • deadmandeadman Posts: 8,849 ✭✭✭✭✭
    edited February 2018
    We got our house back in in 02. Small house put on my land. Cost 110K. The wife wants a bigger house and we have been looking at the market around here. To get something with 4 bedrooms is 250k min. 
  • jw517jw517 Posts: 234 ✭✭✭
    I guess there must be virtues to living in high housing markets,correct? It's not -20 for weeks on end. When I was selling insurance to employees of LTV Mining,in a town called Babbit Mn. You could buy a two story,4 bedroom home in town for less than a couple grand. Reason, the iron mine shut down near town and there was no place to work. It was a few miles from Ely Mn.
  • YaksterYakster Posts: 27,585 ✭✭✭✭✭
    People in the bay area rent couches, garages, sheds.  Tough to make it work here.  We're wondering if we should think about renting one of our rooms out since two of the girls moved out.  My BIL is looking at moving to the Sacramento area because of the housing costs down here in the bay area.
    Join us on Zoom vHerf (Meeting # 2619860114 Password vHerf2020 )
  • jw517jw517 Posts: 234 ✭✭✭
    Yakster said:
    People in the bay area rent couches, garages, sheds.  Tough to make it work here.  We're wondering if we should think about renting one of our rooms out since two of the girls moved out.  My BIL is looking at moving to the Sacramento area because of the housing costs down here in the bay area.
    If I were you I'd start growing wacky tabbackie and cash in!
  • YaksterYakster Posts: 27,585 ✭✭✭✭✭
    Naw, I'll leave that to others, I end up needing background checks a lot in my customer service job depending on who the customers are.
    Join us on Zoom vHerf (Meeting # 2619860114 Password vHerf2020 )
  • EchambersEchambers Posts: 4,184 ✭✭✭✭✭
    We have a modest house. Our payements end up being about a fifth of our combined salaries so I guess we are ahead of the game.  
    -- "There's something that doesn't make sense. Let's go poke it with a stick."
  • Amos_UmwhatAmos_Umwhat Posts: 8,802 ✭✭✭✭✭
    Of course, if you think about it, you're always making the house payment, the question is; whose house?
    WARNING:  The above post may contain thoughts or ideas known to the State of Caliphornia to cause seething rage, confusion, distemper, nausea, perspiration, sphincter release, or cranial implosion to persons who implicitly trust only one news source, or find themselves at either the left or right political extreme.  Proceed at your own risk.  

    "If you do not read the newspapers you're uninformed.  If you do read the newspapers, you're misinformed." --  Mark Twain
  • 0patience0patience Posts: 10,665 ✭✭✭✭✭
    I tried to tell my boys that they could make it if they would both go in on a place.
    The youngest's comment was, "Not a chance in hell."
    ROFL!
    In Fumo Pax
    Money can't buy happiness, but it can buy cigars and that's close enough.

    Wylaff said:
    Atmospheric pressure and crap.
  • jlmartajlmarta Posts: 7,881 ✭✭✭✭✭
    edited February 2018
    You think the typical rent is bad?  Look into what it costs to rent a unit in an assisted living facility....   B)

    Of course, there are certain trade-offs but still..... 
  • jw517jw517 Posts: 234 ✭✭✭
    jlmarta said:
    You think the typical rent is bad?  Look into what it costs to rent a unit in an assisted living facility....   B)

    Of course, there are certain trade-offs but still..... 
    I think I'm getting close to needing that some days.:(
  • CharlieHeisCharlieHeis Posts: 8,510 ✭✭✭✭✭
    jlmarta said:
    You think the typical rent is bad?  Look into what it costs to rent a unit in an assisted living facility....   B)

    Of course, there are certain trade-offs but still..... 
    I can't even imagine
  • Sleddog46Sleddog46 Posts: 1,050 ✭✭✭✭✭
    What about us retired folks on a fixed income. If were lucky we get a $5.00 increase on our Social Security, but then S.S goes up 10 - 12 dollars plus you have your supplemental that always increases. It's hell to try to decide if you want to buy fuel oil or food. We may have to move because we can't afford our mortgage payment. Is this what we worked for all our lives and look what the fu$%in government does for seniors. This country sucks.
    You can't dispel Ignorance if you retain Arrogance!
  • jw517jw517 Posts: 234 ✭✭✭
    edited February 2018
    Sleddog46 said:
    What about us retired folks on a fixed income. If were lucky we get a $5.00 increase on our Social Security, but then S.S goes up 10 - 12 dollars plus you have your supplemental that always increases. It's hell to try to decide if you want to buy fuel oil or food. We may have to move because we can't afford our mortgage payment. Is this what we worked for all our lives and look what the fu$%in government does for seniors. This country sucks.
    What we need is a wall at the southern border Jesus Christ! Tax cuts for the rich!  A pervert in the White House! That's what us older Americans need! Right? Better brush up on Russian folks if we are that f-ing stupid. By the way,which S-Hole countries do you think are going to get slapped with a 40-100percent tariff increase? 
    D.R.,,And all of C.A.
    Post edited by jw517 on
  • StubbleStubble Posts: 8,986 ✭✭✭✭✭
    Border, not boarder....Jesus Christ!!
    Hey, you gonna eat the rest of that corndog?
  • TruDogTruDog Posts: 8,345 ✭✭✭✭✭
    Just WorK my aZZ oFF and write Check'Z......
  • 0patience0patience Posts: 10,665 ✭✭✭✭✭
    jw517 said:
    What we need is a wall at the southern boarder! Tax cuts for the rich!  A pervert in the White House! That's what us older Americans need! Right? Better brush up on Russian folks if we are that f-ing stupid.
    Right, cause there's never been a perv in the whitehouse before?
    Really? 
    And it's interesting that several presidents approached the wall thing several times before this one and nothing was ever said.
    Tax cuts for the rich are an ongoing battle. Every time it happens, the presidents are bad people.

    Do I like Trump? Not so much.
    Is he any worse than any other president? Not so much.
    They all have their own agendas and they don't include you or I.
    In Fumo Pax
    Money can't buy happiness, but it can buy cigars and that's close enough.

    Wylaff said:
    Atmospheric pressure and crap.
  • TruDogTruDog Posts: 8,345 ✭✭✭✭✭
    TruDog said:
    Just WorK my aZZ oFF and write Check'Z......
    HooZe paid oFF years back.....
  • jw517jw517 Posts: 234 ✭✭✭
    Stubble said:
    Border, not boarder....Jesus Christ!!
    There,that's better.
  • dirtdudedirtdude Posts: 5,825 ✭✭✭✭✭
    Here's a timely discussion, just got an offer on our house today so am scrambling to find a place, rent or buy or just move in with Mom & Dad. Not.
    A little dirt never hurt
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