7 ms·

The primary input isn’t land, it’s tolerable neighbors. That is of course what “good school district,” “location, location, location,” and similar euphemisms ac

by User23 2y ago

The primary input isn’t land, it’s tolerable neighbors. That is of course what “good school district,” “location, location, location,” and similar euphemisms actually mean. If you have a high tolerance for crime and other antisocial behavior there is plenty of extremely affordable housing in major US cities with plenty of amenities like walkability and public transportation.

xboxnolifes 2y ago
Good school district doesn't just mean tolerable neighbors, it also means wealthy neighbors (for more collected school taxes).
nradov 2y ago
Or if you venture outside of major cities there is also plenty of affordable housing in unfashionable suburban. Many of those areas also have low crime and decent public schools. Not much public transportation, but plenty of free parking.
- Auracle 2y ago
  Define affordable. My nearest town has a population of 500 or so and my home’s price has at least doubled in the last 10 years.
  - nradov 2y ago
    Absolute prices are irrelevant. Affordability is reflected in home ownership rates. In some states such as Alabama, Maine, Minnesota, Vermont, South Carolina, etc. the rates are above 70%. Regular people seem to be finding it affordable. https://www.propertyshark.com/info/us-homeownership-rates-by-state-and-city/#___Homeownership_by_State__ https://www.propertyshark.com/info/us-homeownership-rates-by...
    - ItsMonkk 2y ago
      How does a person becoming homeless effect the homeownership rate? They no longer get counted. How does someone owning (and living in) multiple properties effect the homeownership rate? They count multiple times! How does someone renting out a bedroom effect the homeownership rate? Their tenant doesn't count! This includes adult children. You can not use this metric in the way that you just assumed you could.
      - nradov 2y ago
        Wrong. Instead of lying you should take a few minutes to understand how the rate is actually calculated. https://fred.stlouisfed.org/series/HOWNRATEACS006085 https://fred.stlouisfed.org/series/HOWNRATEACS006085
        ItsMonkk 2y ago
        Surely one of us is confused, but I am not lying. Here it is on the Census website. No where does the Homeownership rate depend on people. It depends on housing units. > Housing Unit. A housing unit is a house, an apartment, a group of rooms, or a single room occupied or intended for occupancy as separate living quarters. > Homeownership Rates. The proportion of households that are owners is termed the homeownership rate. It is computed by dividing the number of households that are owners by the total number of occupied households. > https://www.census.gov/housing/hvs/definitions.pdf https://www.census.gov/housing/hvs/definitions.pdf When we get to the bottom of this we should edit the Wikipedia article if I am wrong. > The name "homeownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the homeownership rate. Many households that are owner-occupied contain adult relatives (often young adults, descendants of the owner) who do not own their own home. Single building multi-bedroom rental units can contain more than one adult, all of whom do not own a home. > https://en.wikipedia.org/wiki/Homeownership_in_the_United_States https://en.wikipedia.org/wiki/Homeownership_in_the_United_St...
        nradov 2y ago
    - downrightmike 2y ago
      Delinquent debt is at the same levels will into the GFC starting in 2008. More like they are maxing out their debt and then ignoring the calls to repay them and the financial institutions are just delaying collection hoping this all blows over.
      - nradov 2y ago
        Mortgage delinquency rates are near record lows so what's your point? https://fred.stlouisfed.org/series/DRSFRMACBS https://fred.stlouisfed.org/series/DRSFRMACBS
        downrightmike 2y ago
        Delinquency Rate on Consumer Loans, All Commercial Banks (DRCLACBS) https://fred.stlouisfed.org/series/DRCLACBS https://fred.stlouisfed.org/series/DRCLACBS Taking off like a rocket, people are strapped for cash and have been burning all their credit to survive. Mortgages are low for now, but once people run out of easy credit, which they have, mortgage delinquencies will rise. People are poor.
    - Auracle 2y ago
      Hm, I think we may find chickens coming home to roost in the next recession perhaps. Obviously not because of variable rate mortgages, but we’ll find out if people stretched themselves too thin. I’m sure there are metrics about that as well but I think that’d be the best test.

by User23 2y ago

xboxnolifes 2y ago

Good school district doesn't just mean tolerable neighbors, it also means wealthy neighbors (for more collected school taxes).

nradov 2y ago

Or if you venture outside of major cities there is also plenty of affordable housing in unfashionable suburban. Many of those areas also have low crime and decent public schools. Not much public transportation, but plenty of free parking.

Auracle 2y ago
Define affordable. My nearest town has a population of 500 or so and my home’s price has at least doubled in the last 10 years.
- nradov 2y ago
  Absolute prices are irrelevant. Affordability is reflected in home ownership rates. In some states such as Alabama, Maine, Minnesota, Vermont, South Carolina, etc. the rates are above 70%. Regular people seem to be finding it affordable. https://www.propertyshark.com/info/us-homeownership-rates-by-state-and-city/#___Homeownership_by_State__ https://www.propertyshark.com/info/us-homeownership-rates-by...
  - ItsMonkk 2y ago
    How does a person becoming homeless effect the homeownership rate? They no longer get counted. How does someone owning (and living in) multiple properties effect the homeownership rate? They count multiple times! How does someone renting out a bedroom effect the homeownership rate? Their tenant doesn't count! This includes adult children. You can not use this metric in the way that you just assumed you could.
    - nradov 2y ago
      Wrong. Instead of lying you should take a few minutes to understand how the rate is actually calculated. https://fred.stlouisfed.org/series/HOWNRATEACS006085 https://fred.stlouisfed.org/series/HOWNRATEACS006085
      - ItsMonkk 2y ago
        Surely one of us is confused, but I am not lying. Here it is on the Census website. No where does the Homeownership rate depend on people. It depends on housing units. > Housing Unit. A housing unit is a house, an apartment, a group of rooms, or a single room occupied or intended for occupancy as separate living quarters. > Homeownership Rates. The proportion of households that are owners is termed the homeownership rate. It is computed by dividing the number of households that are owners by the total number of occupied households. > https://www.census.gov/housing/hvs/definitions.pdf https://www.census.gov/housing/hvs/definitions.pdf When we get to the bottom of this we should edit the Wikipedia article if I am wrong. > The name "homeownership rate" can be misleading. As defined by the US Census Bureau, it is the percentage of homes that are occupied by the owner. It is not the percentage of adults that own their own home. This latter percentage will be significantly lower than the homeownership rate. Many households that are owner-occupied contain adult relatives (often young adults, descendants of the owner) who do not own their own home. Single building multi-bedroom rental units can contain more than one adult, all of whom do not own a home. > https://en.wikipedia.org/wiki/Homeownership_in_the_United_States https://en.wikipedia.org/wiki/Homeownership_in_the_United_St...
        nradov 2y ago
  - downrightmike 2y ago
    Delinquent debt is at the same levels will into the GFC starting in 2008. More like they are maxing out their debt and then ignoring the calls to repay them and the financial institutions are just delaying collection hoping this all blows over.
    - nradov 2y ago
      Mortgage delinquency rates are near record lows so what's your point? https://fred.stlouisfed.org/series/DRSFRMACBS https://fred.stlouisfed.org/series/DRSFRMACBS
      - downrightmike 2y ago
        Delinquency Rate on Consumer Loans, All Commercial Banks (DRCLACBS) https://fred.stlouisfed.org/series/DRCLACBS https://fred.stlouisfed.org/series/DRCLACBS Taking off like a rocket, people are strapped for cash and have been burning all their credit to survive. Mortgages are low for now, but once people run out of easy credit, which they have, mortgage delinquencies will rise. People are poor.
  - Auracle 2y ago
    Hm, I think we may find chickens coming home to roost in the next recession perhaps. Obviously not because of variable rate mortgages, but we’ll find out if people stretched themselves too thin. I’m sure there are metrics about that as well but I think that’d be the best test.