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Why is owning a house so important that people would move away from family to another state? Seems like there would be more important reasons. Also, professors
by cudgy 6y ago
Why is owning a house so important that people would move away from family to another state? Seems like there would be more important reasons.
Also, professorships are notoriously difficult to obtain and many professors move to far away rural and otherwise undesirable locations for that “privelege”. I’ve known several distinguished professor couples (not in CA) that live separately to pursue their careers … think twice before taking that route.
- jjeaff 6y agoThe high home prices also mean high rents. It's expensive to live in CA whether you own or rent.
- epistasis 6y agoNot owning the house means that your landlord can kick you out at any moment because they can claim that they want to move in. Which means hunting for a new place, which is extremely difficult due to the massive shortage. There are also massive financial benefits of owning a house, for tax purposes, beyond avoiding the yearly increase in rent. This happens even in the cities in California with the highest amount of tenant protections. Personally, I'd rather pay a property manager to take care of everything rather than have to do it all myself, or have to find landscapers and plumbers and all that other drudgery. But I bought purely for the security that we only provide to those who own their own place.
- cudgy 5y agoMy point was addressing moving out of state to just buy a house. However, owning has massive drawbacks like less flexibility to move, increased transaction costs, risk of decline in home value, mortgage costs, home maintenance costs, hoa assessments, etc Also, taxes on housing increases every year as do maintenance costs, insurance, hoa fees … rents sometimes decrease by the way.