Forum: Adults / 20 Something




20 Something
This makes me so sad. Home prices
By YumYumDoughnutPremium member Comments: 8688, member since Sat Jul 10, 2004
On Tue Mar 10, 2015 12:52 AM

I just need to vent to someone here.

I am just working so hard and saving but I just can't seem to get ahead. I can tighten my budget a tiny bit, but I am getting frustrated hearing other people in their mid 20's already buying their own homes.

I uploaded a graph showing the salary I need to make, in order to buy a regular home. I live in San Francisco area...the most expensive place on the list.

My life and job and relationship is here....but it is just so hard to get ahead in life, when cost of living is so high here.
Even if I tighten up my budget, I'm not going to be making nearly enough to ever buy my own home in the area I grew up!
Can I just vent a bit?!?!

18 Replies to This makes me so sad. Home prices

re: This makes me so sad. Home prices (karma: 1)
By SwordInStone Comments: 192, member since Thu Aug 11, 2011
On Tue Mar 10, 2015 02:58 AM
Edited by SwordInStone (239239) on 2015-03-10 03:01:18
Edited by SwordInStone (239239) on 2015-03-10 03:04:14
Yeah, you can vent all you want, it's pretty vent-worthy.

Although, I do admire you for living in the San Francisco area because you get great weather and food. Housing is expensive pretty much everywhere in the States, and these houses are beautiful, but don't you ever get tired thinking about them?

Back in the old country, my parents had a studio apartment assigned to them by the government. The three of us lived in one room, but we didn't have a lot of stuff, so it wasn't even crowded. We had a folding table and folding chairs, and the three of us shared one bed that doubled as a sofa when we changed the covers. And we always kept the covers in a closet. We had one piece of decoration. It was a giant origami pineapple that Mom folded in college.

We moved to the States where people were buying these huge houses, and I wanted to live in one as well. Ten years later, my parents bought a large house and made it beautiful, but our quality of life went way down. We bought expensive furniture, but I was sixteen and starting to think about being pretty, and we didn't have enough money left over to buy me beautiful clothes. My parents got a huge bed, paintings for the walls, decorations with no practical purpose, a china cabinet and a dining table so wonderful that I wasn't allowed to touch it with my grubby fingers. They stopped going on vacations, partly because of the financial strain, partly because all three of us used free time for vacuuming, dusting and yard work.

Last summer we decided we've had enough. I moved out of my fancy room and into the attic, where there was a twin-sized bed, our old table and a desk that cost seven dollars. My mom moved into my old room because it was smaller, and my dad moved into the guest room for the same reason. I decided not to get a car, and now I have several hundred books, beautiful clothes and an easier time keeping track of my stuff.

Working that hard for stuff gets boring, as does living in expensive suburbs. It's necessary, though, if you want decent neighbours and a good school district, but it's still boring. A few months ago I moved to a smaller country where it's not necessary to own a car. I'm studying here for free, and the housing is pretty cheap even in the city centre. Food is really fresh, traffic isn't bad, it's not necessary to own a car, and nobody owns as much as people in the States do. Some wear jackets that cost as much as a month of rent. Even receptionists and corps dancers are able to live comfortably and go on vacations. There was a house about the size of my parents' house in the States, and seven people were renting it.

You know, my parents worked hard for ten years to buy their home, and now they just want to sell it and rent a small apartment. It doesn't matter if your home is large or if you own it; the most important thing is that you have a place to stay, and that it's clean and manageable and filled with stuff you love. When you come back from work, you want to see a place to relax in, not one filled with more work.
re: This makes me so sad. Home prices
By YumYumDoughnutPremium member Comments: 8688, member since Sat Jul 10, 2004
On Tue Mar 10, 2015 10:33 AM
Edited by YumYumDoughnut (99333) on 2015-03-10 10:39:21
^This isn't even a big house I am talking about. I am talking about wanting to own a 2 bedroom small condo. My BF's house is worth $850,000-1 million dollars, and it is a very small rundown 2 bedroom/1 bathroom house.
I'm sure other places in the states, you can get a lot more for $850,000.

My family just moved 3 hours from here, to purchase their first house. They had to move 3 hours to get down to the $650,000 range.

I guess I am just sad, that I can't live in a place where I grew up.( if my Bf and I were to break up,,,and I was a single person purchasing a home)

Although this isn't the same situation I am in, there is A LOT of complaints about people who were living in San Francisco Area for a long time. The " trendy" thing is for people to move to this area, for tech jobs...and it is pushing all the original residents out of the area.
They are taking parts of San Francisco and the surrounding area and " gentrifying" them. Currently, in the ghetto area of San Francisco, a studio apartment goes for $1200. This past year, it raised to like $1800 because it is apparently an upcoming neighborhood. 3 of my friends had to move out of their home, because they just couldn't afford rent anymore in the neighborhood where they grew up. It seems like all the uppie rich transplants are taking about the " bad areas" and raising prices like crazy. It is driving the " normal" people who lived here for 10+ years out of their own homes.
This isn't an issue that I am dealing with, because I live about 30 miles north of the center of the city. I just feel bad for my friends who are getting kicked out of their own neighborhoods :(
It isn't right that people are having to leave their homes,because these rich investors are coming into town...and rich people are taking over the traditional cheaper areas.
re: This makes me so sad. Home prices
By YumYumDoughnutPremium member Comments: 8688, member since Sat Jul 10, 2004
On Tue Mar 10, 2015 10:42 AM
Edited by YumYumDoughnut (99333) on 2015-03-10 10:43:51
Edited by YumYumDoughnut (99333) on 2015-03-10 10:44:35
www.newsweek.com . . .

This explains more where I am coming from.

In the last year, evictions have gone up 115%!!!!! ( from 2013-2014)
It's also destroying the artists and the artistic neighborhoods because of this.

So many artists are having to leave, and it is destroying all the individual neighborhoods that SF is known for.
re: This makes me so sad. Home prices
By SwordInStone Comments: 192, member since Thu Aug 11, 2011
On Tue Mar 10, 2015 10:58 AM
What!! Seriously? That's just stupid. And yeah, I'd imagine you want to stay in San Francisco too. My parents are always talking about how expensive it is to live in California, but they don't really know what's going on and just assume people in California earn more.

I had no idea it involved newcomers using money to squeeze out the old residents.

Sorry, but I can't even offer you any helpful words, only that I understand what you mean a little better now, and yes, the situation is ridiculous.
re: This makes me so sad. Home prices
By ChristinePremium member Comments: 6817, member since Wed Feb 04, 2009
On Wed Mar 11, 2015 07:17 AM
It won't make you feel any better.... I too am so, so, sad for the state of things in this country (yeah...1%...) but this chart is a bit "interesting"...

I don't know what kind of house they think you can get in NYC for $87,000. A dog house, perhaps... and the Pittsburgh number is pure fiction. Must have come from some politico buying up a widow's homestead for back taxes.

I strongly recommend to everyone to spend a few hours watching this video (and I'm not selling anything, but the time line is 100% correct and most of us working people have been saying this for 40 years!!!!!)

en.wikipedia.org . . .

Keep On Dancing*
re: This makes me so sad. Home prices (karma: 1)
By Moonlitefairy06member has saluted, click to view salute photos Comments: 7177, member since Fri Apr 16, 2004
On Wed Mar 11, 2015 08:14 AM
Christine, that's not how much the houses cost, it's how much money a person earns per year to a buy a house in that area. Even then I still agree I think these salaries might actually be on the lower end at least for some cities, though NY is so big and different I guess it could be possible in the Bronx or something.
re: This makes me so sad. Home prices
By ChristinePremium member Comments: 6817, member since Wed Feb 04, 2009
On Wed Mar 11, 2015 08:23 AM
Moonlitefairy06 wrote:

Christine, that's not how much the houses cost, it's how much money a person earns per year to a buy a house in that area. Even then I still agree I think these salaries might actually be on the lower end at least for some cities, though NY is so big and different I guess it could be possible in the Bronx or something.


Well... don't I feel stupid for "scanning" instead of reading. Thanks for the correction. Even so.... the numbers are crazy. The bankers used to use a 2.5 x the annual salary number... I just read that there is not ONE. SINGLE. STATE. in the union where a person working full time for minimum wage can afford a two bedroom apartment. This is just wrong...

Hugs to all.... We bought into the American dream but didn't realize that like all dreams, it just wasn't real.

Please watch the video....

Keep On Dancing*
re: This makes me so sad. Home prices
By Believemember has saluted, click to view salute photosPremium member Comments: 1855, member since Sat Oct 14, 2006
On Wed Mar 11, 2015 09:18 AM
I don't have any advice, but I definitely feel where you're coming from. My boyfriend and I had to move out of the city we were living in so that we could buy an actual house. The city we moved to, we got a little rundown 1400sqft house for 289k, where as if we had stayed in the original city (which is where I want to eventually get back to) we could barely buy an apartment for 289k.

My mom told me you have to decide which is more important- owning a house and sacrificing on the city, or deciding to not have the house and continuing to live in my desired city. We're only twenty minutes away from the city we moved out of, but even that made a difference. It's just insane to me though, how high prices are. I live not far from vancouver bc and to live in the city, youre looking at paying 300k for a 500sqft apartment in the worst part of tow. If you want an actual house? You're paying a million, easy. It's just nuts. How is anyone supposed to live?
re: This makes me so sad. Home prices
By shmcdona Comments: 857, member since Sat May 01, 2004
On Wed Mar 11, 2015 10:00 AM
I know how you feel. I live in Vancouver BC, It is in the top 3 most expensive places to live in the world (last article I read had it at #1, but that varies depending on the article). The average house cost is $980,000. That is for basically a tear down place and just buying the land. I cry/laugh when I look at the cost of houses in other parts of Canada or the states. What we could get 4 hours outside of Vancouver for the same cost as what our townhome here is, well....frankly its insane.
re: This makes me so sad. Home prices
By d4jmember has saluted, click to view salute photosPremium member Comments: 12490, member since Fri Aug 27, 2004
On Wed Mar 11, 2015 12:52 PM
The same thing happened to us when we lived in Laguna Beach, considered the Riviera of the West Coast. We scraped and scraped and bough the teensiest little house in the canyon outside downtown but we wanted that zip code, it's where we grew up. We went without a refrigerator for months after we bought the house because we were so broke. Ah the good old days of our early married life! But as much as we loved Laguna, we did finally leave, for lots of reasons but financial was definitely one of them. I was sad about it too, but you know what, we found another place that captured our hearts and I also liked the fresh start of it all. Maybe you guys will find a new place to call your own, be open to the possibility. :)
re: This makes me so sad. Home prices
By Nyssasisticmember has saluted, click to view salute photosPremium member Comments: 3643, member since Sat Sep 20, 2003
On Wed Mar 11, 2015 01:16 PM
I know a lot of transplants to my area of Texas (Dallas-ish) have come to the area because the work is plentiful and our housing isn't crazy expensive. It was initially mindblowing to me that someone would move here just because "It's a good place to raise a family", but as I've looked at COL in other areas and school rankings I can totally understand why now.

We've seen a few of our local run-down neighborhoods get a facelift and the housing prices there have shot through the roof. We actually looked into buying a house in a historical neighborhood that did just that, but missed the boat and now can't afford it! I generally see people putting money into an area as a good thing, but can totally understand the frustration the people original to the neighborhood would feel.
re: This makes me so sad. Home prices
By YumYumDoughnutPremium member Comments: 8688, member since Sat Jul 10, 2004
On Wed Mar 11, 2015 08:26 PM
www.upout.com . . .



Time for me to move to a castle everyone! Who wants to join me!
re: This makes me so sad. Home prices
By SiyoNqobamember has saluted, click to view salute photosPremium member Comments: 7113, member since Fri Aug 02, 2002
On Thu Mar 12, 2015 12:37 AM
We have it just as bad here in some parts of NZ. An unlivable house that can't be knocked down recently sold for $1.2 million because of the location. A house you can't even live in! The government are doing a few things to help people buy their first home, or to buy again after having sold during the recession, so it is starting to get better in some places.

We're in the process of buying a house (don't get too jealous, we'll have $90 left over at the end of this year), and have decided to move about 10 minutes out of the town we live in. Granted, we live in a rural town anyway, so it's not going to make that much difference to our lifestyle. But the house we're buying is huge and beautiful, and we would never have been able to afford it if the exact same house was in town. It really does make a massive difference.
re: This makes me so sad. Home prices
By pokomember has saluted, click to view salute photosPremium member Comments: 9026, member since Sun Oct 31, 2004
On Sat Mar 14, 2015 01:37 AM
We just bought a house - and took us over a year of living together in my parents back room free of charge, saving every last cent, working 2 jobs each - and JUST made it to get a deposit and home loan.

We bought a pretty cheap and very small house, but it's a start. It wasn't in the area that was our first choice, but I actually have grown to LOVE where we are - it's ao close to work, close to the shops, transport and schools.
re: This makes me so sad. Home prices
By Gavrilushka Comments: 872, member since Wed Jul 11, 2012
On Sun Mar 15, 2015 02:57 AM
It's the same in Sydney. A crappy run down place a good 2 hours from the CBD with hardly any yard will set you back a good $600K and let's not mention the interest rate. If you want to be closer to the city, expect to pay close to $1m for a crappy 'heritage listed' house that you can't renovate without paying dumb fees. Some of my friends are paying $780 A WEEK in rent, I'm a good 1.5 hours away from the city and still need to fork over $500 a week. Houses which used to be $150K 15 years ago are now $550K. You can argue that the wages have increased, but they didn't increase by 500% like housing!

But yeah. /end rant. I'm often worried and want to change my majors or just drop out of university because it seems so impossible to buy a house, pay off fees and still have enough money to live.
re: This makes me so sad. Home prices
By Dancing_EMTmember has saluted, click to view salute photosPremium member Comments: 3466, member since Wed Dec 08, 2004
On Sun Mar 15, 2015 10:02 AM
Look at foreclosures. :) You can often find great deals. :)

I totally understand about not being able to get ahead. I recently got laid off from my job. :( Needless to say, it's been putting a lot of stress and pressure on Trevor and me. I recently applied for a city job which would REALLY help me provide for our little family. We need to eat and we have 3 furry mouths to feed, plus we'd also like to go out and have fun.

So, I totally get it. ::Hugs::
re: This makes me so sad. Home prices
By foreverlostmember has saluted, click to view salute photos Comments: 1917, member since Sun Feb 15, 2004
On Fri Mar 20, 2015 10:55 AM
Like YumYum I also live near San Francisco. I have long given up any thoughts of actually purchasing a house here. As far as rental properties? There is a shortage of them and most people cringe when they hear what I pay per month to live in my falling apart house.
re: This makes me so sad. Home prices
By Rinamember has saluted, click to view salute photosPremium member Comments: 2059, member since Wed Apr 21, 2004
On Fri Mar 20, 2015 03:08 PM
Dancing_EMT wrote:

Look at foreclosures. :) You can often find great deals. :)


I'm quoting this because this is what I did. Granted I live in Minneapolis, but I am FAR below that 47,000, and I still managed to purchase a 2 bedroom condo in the city.

Keep your chin up and look A LOT! I was looking at places for a year before i found one that was perfect for my budget and my wish list.

ReplySendWatch