OT Inflation, Wages

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Chris Craig said:
Not easy for most to save up $140,000. And houses cost even more now. And will continue to cost more. You did that alone? No help? Glad you were able to do that.

My wife and I have a goal to to save up a nice down payment for a house. Trying to get there.

A lot of people, most people have to rent. It's getting even harder for millennials to save and buy houses. It will only get harder.
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why have to save up 140,000?

i bought my home with zero down and got a first time home buyers rebate.

homes are more. Know doubt. Sold that home 8 years later for $265000.

And that inflation happened before the pandemic, so the pandemic didnt factor into the profit.
 
Orion Bailey said:
why have to save up 140,000?

i bought my home with zero down and got a first time home buyers rebate.

homes are more. Know doubt. Sold that home 8 years later for $265000.

And that inflation happened before the pandemic, so the pandemic didnt factor into the profit.
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Sounded like you said that's what you said. That you saved up $140,000 and bought your house outright. Guess I read it wrong my bad.

Not gonna get a deal like that anymore...zero down probably.
 
Chris Craig said:
Sounded like you said that's what you said. That you saved up $140,000 and bought your house outright. Guess I read it wrong my bad.

Not gonna get a deal like that anymore...zero down probably.
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Not soon anyhow. I just took advantage of the times and what was being offered.
Admittedly i was also at the right time in my life so they panned out. Not everyone was ready like me i suppose. But when i heard i could get ten k back for buying a home and pit zero down, i jumped on it.
 
Orion Bailey said:
Not soon anyhow. I just took advantage of the times and what was being offered.
Admittedly i was also at the right time in my life so they panned out. Not everyone was ready like me i suppose. But when i heard i could get ten k back for buying a home and pit zero down, i jumped on it.
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People have unrealistic expectations. My first place was a foreclosure in a complete shit neighborhood. Lived there for 4 years rehabbing it and then flipped it for a house in a better neighborhood. I had friends that would give me shit saying i would never get my money back out of it and I did and then some.
 
SlyPokerCat said:
People have unrealistic expectations. My first place was a foreclosure in a complete shit neighborhood. Lived there for 4 years rehabbing it and then flipped it for a house in a better neighborhood. I had friends that would give me shit saying i would never get my money back out of it and I did and then some.
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pretty much the same thing. Mine was off of 165 and stark. Edge of felony flats and crime ridden rockwood.
Crime is ao high over in that area. Some of the things i saw was… beyond sad.
Not to mention the murder of a buddy of mine down the street.
 
Orion Bailey said:
pretty much the same thing. Mine was off of 165 and stark. Edge of felony flats and crime ridden rockwood.
Crime is ao high over in that area. Some of the things i saw was… beyond sad.
Not to mention the murder of a buddy of mine down the street.
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Yep. My first place was in a similar area. One of the houses I looked at before buying was in Rockwood and the window in the front of the house had a bullet hole.
 
SlyPokerCat said:
I'm a numbers frugal guy. Just recently have been more open to spending whatever in my 30s because of all the sacrifices i made early on. I agree that while i was busy saving up and bought real estate fresh out of college (without mommy or daddys help) many people my age did not when houses could be had for nothing. But, the problem is wages don't support the cost of real estate. There isn't a ton of land to build on where you can buy a house brand new in Gresham for 40k like in the 80s. That same house would be 500k+ nowadays.

I say this while telling you as a kid, i spent money on stupid shit. Things can change and often do when kids get older and have to pay for their own stuff 100% of the time (like parents making them chip in, not allowing free rent, or they move out on their own). I can't tell you how many times I had top ramen, mac and cheese, potatoes etc. In college because it was too many to count.
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I commend you for investing in real estate fresh out of school!
I agree with all that you said. Young people learn along the way and some navigate life different than others.
Oregon has one of the highest cost of housing as a percentage of income. Ive seen how tough it was for a few of my kids to get into homes and my 18 year old grandson who works said if I cant afford a house here in Oregon he going where he can.
 
Hoopguru said:
I commend you for investing in real estate fresh out of school!
I agree with all that you said. Young people learn along the way and some navigate life different than others.
Oregon has one of the highest cost of housing as a percentage of income. Ive seen how tough it was for a few of my kids to get into homes and my 18 year old grandson who works said if I cant afford a house here in Oregon he going where he can.
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Sometimes that is what people will have to do. The west coast is getting so expensive. I'm glad I got in because this is home to me and I'll never leave Oregon.

But, if I had to, I would leave to buy a house. A buddy lives in Iowa where houses are so much cheaper. Would I want to live there? No. But, I would if it meant I could buy a home.
 
SlyPokerCat said:
Sometimes that is what people will have to do. The west coast is getting so expensive. I'm glad I got in because this is home to me and I'll never leave Oregon.

But, if I had to, I would leave to buy a house. A buddy lives in Iowa where houses are so much cheaper. Would I want to live there? No. But, I would if it meant I could buy a home.
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I bought a two story house with hardwood floors in the town I went to HS in in Iowa for 22K......let my brother live in it until we sold it...that was in the 90s.
 
SlyPokerCat said:
Sometimes that is what people will have to do. The west coast is getting so expensive. I'm glad I got in because this is home to me and I'll never leave Oregon.

But, if I had to, I would leave to buy a house. A buddy lives in Iowa where houses are so much cheaper. Would I want to live there? No. But, I would if it meant I could buy a home.
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Home is where you pitch your tent/house.
I have a daughter and son in law that 15 years ago purchased their first home and even though they are form Portland metro they scouted around for areas that were lower cost to get into a home. They ended up building in Carson WA. for much less than they could have in town. They like it there he works in Hood River and she's a teacher in Stevenson area.
 
SlyPokerCat said:
I've visited a lot of places. None of them felt like home to me. Montana has water that smells like ass in a bad way. Vegas desert gives you big nasty boogers. Minnesota sucks, cold, big mosquitos. Etc. Etc.
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IMHO, everyplace has something that sucks...you just have to find one that has more things that fit your positive attributes list than the negative ones. Putting down roots requires a desire to do so and takes time.

That said, after spending most of my life in the Willamette Valley, we're in the process of moving to Arizona for retirement. Cost of living is much less and the warm winters are easier on geezers. We'll spend summers up here to beat the desert heat. I'm sure that there are things I won't like down there, but we will work at making it home.
 
SlyPokerCat said:
I've visited a lot of places. None of them felt like home to me. Montana has water that smells like ass in a bad way. Vegas desert gives you big nasty boogers. Minnesota sucks, cold, big mosquitos. Etc. Etc.
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me to. CO is about as close as you will get to the nw in my opinion.
 
Chris Craig said:
Sounded like you said that's what you said. That you saved up $140,000 and bought your house outright. Guess I read it wrong my bad.

Not gonna get a deal like that anymore...zero down probably.
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There are zero down loans available. At least out side of urban areas. USDA has a program where you can still buy houses with 0 down.
 
twobullz said:
There are zero down loans available. At least out side of urban areas. USDA has a program where you can still buy houses with 0 down.
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when the price is jacked up to 220k over value you are better off coming up with a 20k downpayment than paying on the interest for ages before you dent the principle....it's not a buyers market by a long stretch and in my view a terrible time to buy a home. That zero down payment just gets you paying the commissions to agents off the top and getting screwed with debt down the road...right now I wouldn't waste a VA housing loan on this inflated housing market...it's cheaper to build new than buy existing houses in most cases at least on the west coast
 
I'm trying to talk my wife into snowbirding when our grandson is enrolled in school....endless summer...winter in New Zealand and summer in Oregon....fishing heaven. Right now she's way too busy with the grandson's care to do it but in a few years he'll be busy with school. My cousin has taken over my late uncle and aunt's bed and breakfast outside of Christchurch and it's beautiful there....always wanted to spend extended time there..
 
SlyPokerCat said:
I don't think i could live in Florida. To each their own. I like the west coast too much. Arizona is probably as far east as i would want to go.
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im with ya. Hurricanes? Freedumbs?

But, $250k for an acre with waterfront property, 2700sqft home with second 40’ mobile home on the property with inground pool and complete net covered back yard.

i could practically buy it outright if i sold my home right now.
Makes it a bit more enticing. But still gonna pass. Lol. Az is the new florida for retiring anyhow.
 
Orion Bailey said:
im with ya. Hurricanes? Freedumbs?

But, $250k for an acre with waterfront property, 2700sqft home with second 40’ mobile home on the property with inground pool and complete net covered back yard.

i could practically buy it outright if i sold my home right now.
Makes it a bit more enticing. But still gonna pass. Lol. Az is the new florida for retiring anyhow.
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I would rather live in Texas than Florida too.
 
Daily Poster: 6 Lies Media Is Telling On Inflation.

 
Orion Bailey said:
Now THATs debatable in my book. Lol.

im a water boy.
Plus that border and abortion thing. Lol.

TorturedBlazerFan is selling and moving to wyoming. Cold as hell but so much less expensive.
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Trust me, I hate Texas for those reasons. I'm just saying, i don't like Florida lol.
 
I don't want to live where I can't drink fresh water and it never rains.....not a sun worshiper in the age of global warming...I lived for a couple decades in the sub tropics and it's brutal in the summer if you have skin like mine. My body is designed for Ireland....needs green or it freaks out.
I like places with trees and many, many fresh water rivers to fish...Im right where I always wanted to be on the planet....best of both worlds and no frozen Iowa winters or humid scorching summers
 
riverman said:
I don't want to live where I can't drink fresh water and it never rains.....not a sun worshiper in the age of global warming...I lived for a couple decades in the sub tropics and it's brutal in the summer if you have skin like mine. My body is designed for Ireland....needs green or it freaks out.
I like places with trees and many, many fresh water rivers to fish...Im right where I always wanted to be on the planet....best of both worlds and no frozen Iowa winters or humid scorching summers
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fear abhann!
 
Chris Craig said:
People need the increased wages to pay for rent prices that keep rising and utilities, and the higher cost of food and necessities.
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But I feel like this is just a vicious cycle.

Wages increase -----> business owners and corporations raise prices because they don't want to eat the higher overhead from raised wages -------- > cost of living increases because food and necessities are now more expensive ------- >people want more money because things are more expensive and their raised wages don't cover the now added cost.

(Meanwhile) They raised minimum wages but they didn't raise the wages of people like me, so my dollar is now worth less because I'm not getting a 30% wage increase to keep up with inflation that was caused by a hike in minimum wage.
 
For fun and out of curiosity I always look at real estate in random places like Kansas or Iowa or Montana. It’s kind of enticing to just pack up and start fresh and live a simpler life. And cheaper. But no way my kids would be down for that. I owe about half my homes value, and not sure I’ll ever pay it off barring some random inheritance or something.
 
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