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Snowdoggie
Snowdoggie HalfDork
11/20/20 11:50 a.m.
z31maniac said:
yupididit said:
z31maniac said:
STM317 said:
Placemotorsports said:

Foreclosures will run rampid in the upcoming months, you'll see a big swing in home prices

Why would somebody let the bank foreclose rather than just selling their house in a hot market? The people most impacted by all of the crap this year have generally been low wage workers that aren't likely to have been in the market for homes anyway. If they do own a home and can't make the payment, just list it for traditional sale and let the ensuing bidding war fix your problem. I don't see enough of a widespread problem to cause significant price disruptions. Especially with interest rates at record lows, which gives buyers larger price ranges to work with. 

I suppose you could see a bunch of rentals hit the market if landlords can't float the payment or don't want to be on the hook for non-paying tenants, but in general I think The only way we see the market cool a bunch is if there are widespread layoffs in white collar jobs. Those are the buyers driving up prices, and those are the people that have been pretty unscathed thus far.

Our mortgage is 16% of our take home and I still don't like that it's that high, where as some people spend as much as 40% or more of their take home on their mortgage.

 

I wonder what those % look like in high cost of living areas.

Insanity I suspect. It's one of the reasons that makes it very difficult for me to want to move out of Oklahoma, even though there are things I don't like about this state, but I don't want to flounder my own thread so I'll leave it at that.

Sure, I could make more in other parts of the country.......but the entire raise and more would just go to the increased price of housing, and a bigger % of my income would go to it. So it's hard to justify. 

You could always sell to somebody from Dallas moving to escape the high housing prices.cheeky

I keep getting job offers from DC and California that would pay enough to live in a small apartment and have less money left over at the end of the month than I do now. The jobs would actually be a step up from what I do now but the numbers just don't work. Mrs. Snowdoggie could probably find a better paying job with her resume in either DC or California as well which might actually get us a bigger apartment or a small townhouse, but she doesn't want to move at all. She was born here and all of her friends and relatives are here. In fact, both of us are probably a little underemployed here in Dallas considering our experience and credentials. 

But whatever money we make from moving to a more expensive place would go straight into the pockets of landlords and if we sell our places, probably in the pockets of realtors as well. Then we can enjoy more traffic, more congestion and a lower standard of living. Moving just doesn't make sense for us. 

 

z31maniac
z31maniac MegaDork
11/20/20 12:00 p.m.

In reply to Snowdoggie :

Yep, that's the same story for us. I'm hoping I'll be able to go full-remote after this, that will open up a lot more options for us. I'd like to get her on with me at Oracle as well, because she could likely go full-remote and make a chunk more money.

mr2s2000elise
mr2s2000elise UltraDork
11/20/20 12:22 p.m.
z31maniac said:

In reply to Snowdoggie :

Yep, that's the same story for us. I'm hoping I'll be able to go full-remote after this, that will open up a lot more options for us. I'd like to get her on with me at Oracle as well, because she could likely go full-remote and make a chunk more money.

2 new BRZ in the household!

Paul_VR6 (Forum Supporter)
Paul_VR6 (Forum Supporter) Dork
11/20/20 1:33 p.m.

Three houses have sold in our neighborhood in the last few months and all are about 30% over what we would have expected them to sell at. It's amazing but supply and demand (and low interest rates) works.

z31maniac
z31maniac MegaDork
11/20/20 1:48 p.m.
mr2s2000elise said:
z31maniac said:

In reply to Snowdoggie :

Yep, that's the same story for us. I'm hoping I'll be able to go full-remote after this, that will open up a lot more options for us. I'd like to get her on with me at Oracle as well, because she could likely go full-remote and make a chunk more money.

2 new BRZ in the household!

Ha! When I showed her the new one her first response was, "Is it going to be low and hard to get in and out of like your old one?" Yes, honey. Yes, it is. She loved driving the 135i since you didn't have get your butt down near the ground to get in it. 

She really wants a new Bronco but doesn't like what the payment would be for the one she wants. I think she's more focused on trying to figure out a way to get us out of Oklahoma vs having toys. 

Which is the opposite for me. devil

mr2s2000elise
mr2s2000elise UltraDork
11/20/20 2:10 p.m.
z31maniac said:
mr2s2000elise said:
z31maniac said:

In reply to Snowdoggie :

Yep, that's the same story for us. I'm hoping I'll be able to go full-remote after this, that will open up a lot more options for us. I'd like to get her on with me at Oracle as well, because she could likely go full-remote and make a chunk more money.

2 new BRZ in the household!

Ha! When I showed her the new one her first response was, "Is it going to be low and hard to get in and out of like your old one?" Yes, honey. Yes, it is. She loved driving the 135i since you didn't have get your butt down near the ground to get in it. 

She really wants a new Bronco but doesn't like what the payment would be for the one she wants. I think she's more focused on trying to figure out a way to get us out of Oklahoma vs having toys. 

Which is the opposite for me. devil

Damn I guess I should be happy my wife doesn't complain about 19 hour at a time smileyroadtrips in my Elise and tells me a 16 hour drive in my S2000 is easy as pie 

 

My wifes favorite car in the fleet is our red FJC TT, so similar to your wife. 

 

I have been to Okalahoma once. It was ok. 

cyow5
cyow5 New Reader
11/20/20 2:49 p.m.
Snowdoggie said:
z31maniac said:
yupididit said:
z31maniac said:
STM317 said:
Placemotorsports said:

Foreclosures will run rampid in the upcoming months, you'll see a big swing in home prices

Why would somebody let the bank foreclose rather than just selling their house in a hot market? The people most impacted by all of the crap this year have generally been low wage workers that aren't likely to have been in the market for homes anyway. If they do own a home and can't make the payment, just list it for traditional sale and let the ensuing bidding war fix your problem. I don't see enough of a widespread problem to cause significant price disruptions. Especially with interest rates at record lows, which gives buyers larger price ranges to work with. 

I suppose you could see a bunch of rentals hit the market if landlords can't float the payment or don't want to be on the hook for non-paying tenants, but in general I think The only way we see the market cool a bunch is if there are widespread layoffs in white collar jobs. Those are the buyers driving up prices, and those are the people that have been pretty unscathed thus far.

Our mortgage is 16% of our take home and I still don't like that it's that high, where as some people spend as much as 40% or more of their take home on their mortgage.

 

I wonder what those % look like in high cost of living areas.

Insanity I suspect. It's one of the reasons that makes it very difficult for me to want to move out of Oklahoma, even though there are things I don't like about this state, but I don't want to flounder my own thread so I'll leave it at that.

Sure, I could make more in other parts of the country.......but the entire raise and more would just go to the increased price of housing, and a bigger % of my income would go to it. So it's hard to justify. 

You could always sell to somebody from Dallas moving to escape the high housing prices.cheeky

I keep getting job offers from DC and California that would pay enough to live in a small apartment and have less money left over at the end of the month than I do now. The jobs would actually be a step up from what I do now but the numbers just don't work. Mrs. Snowdoggie could probably find a better paying job with her resume in either DC or California as well which might actually get us a bigger apartment or a small townhouse, but she doesn't want to move at all. She was born here and all of her friends and relatives are here. In fact, both of us are probably a little underemployed here in Dallas considering our experience and credentials. 

But whatever money we make from moving to a more expensive place would go straight into the pockets of landlords and if we sell our places, probably in the pockets of realtors as well. Then we can enjoy more traffic, more congestion and a lower standard of living. Moving just doesn't make sense for us. 

 

The rent for our 1BR apt near DC was $1800/mo 5 years ago. Garage spaces were another $50-$100 per month. That same total payment now covers my house with an attached 4 car garage in North Carolina, and people still complain about prices here. We are near a major lake, so my parents' house that's 45 minutes away is about half the price per square foot. It's funny, half of this zip code is from out of state since everyone moves in from the northeast or west coast and goes "wow this is cheap for so much house!". 

yupididit
yupididit PowerDork
11/20/20 2:54 p.m.

In reply to Snowdoggie :

Funny, DC will be a very likely move for us in 2022. My income will go up about $800 per our housing allowance which is only $2600 for the area lol.  Should be tight! But our combined income should be good enough to live there for 4 or 5 years. Not gonna count on having a decent yard or garage though. I certainly won't be saving as much money as I do here in Texas. But I only have 6 years left of this crap then I can retire from the military and make actual money. 

I need to start a business or something lol

cyow5
cyow5 New Reader
11/20/20 2:57 p.m.
yupididit said:

In reply to Snowdoggie :

Funny, DC will be a very likely move for us in 2022. My income will go up about $800 per our housing allowance which is only $2600 for the area lol.  Should be tight! But our combined income should be good enough to live there for 4 or 5 years. Not gonna count on having a decent yard or garage though. I certainly won't be saving as much money as I do here in Texas. But I only have 6 years left of this crap then I can retire from the military and make actual money. 

I need to start a business or something lol

BAH in the DC area is no joke. Consider how much you'd have to earn as a civilian with taxes, and BAH gets equivalently higher. My wife was a Naval officer up there for her four years and was making some good money. 

yupididit
yupididit PowerDork
11/20/20 3:05 p.m.

In reply to cyow5 :

She was an officer,  I'm enlisted with 14 years in.  The pay difference in base pay and bah is large between E and O's I could easily make almost twice what I do now if I got out. I get job offers all the time. If I wasn't this close to mil retirement I would've gotten out already lol.  

 

There a reason all branches of military is having huge retention problems, especially for the talented and educated folks.

yupididit
yupididit PowerDork
11/20/20 3:12 p.m.

If we moved to DC and tried to move to the same size house with the same commute (5 miles) to work like we do here in SATX, would cost both of our BAH and some. I know this because I'm from Virginia and my uncle lives in Alexandria.

Right now we don't spend just over 2k a month on all our expenses. Thqt includes bills, fuel, groceries and miscellaneous. It helps that neither of us has debt except her car payment. Pretty comfy lol

Flynlow (FS)
Flynlow (FS) HalfDork
11/20/20 4:07 p.m.

In reply to yupididit :

I'm on the north side of Richmond, about 90 minutes from DC.  We have a couple guys that autox and take the cars out to cruise to breweries and such. Send me a message when you move out this way if you're looking for some car folks to hang out with.  Depending on how the next 3-4 months go, I may even have spare garage space if you need to stash a project car. 

mr2s2000elise
mr2s2000elise UltraDork
11/20/20 4:26 p.m.
yupididit said:

It helps that neither of us has debt except her car payment. Pretty comfy lol

G Waggen time? 

Snowdoggie
Snowdoggie HalfDork
11/20/20 4:31 p.m.
yupididit said:

In reply to cyow5 :

She was an officer,  I'm enlisted with 14 years in.  The pay difference in base pay and bah is large between E and O's I could easily make almost twice what I do now if I got out. I get job offers all the time. If I wasn't this close to mil retirement I would've gotten out already lol.  

 

There a reason all branches of military is having huge retention problems, especially for the talented and educated folks.

I was a contractor for the US Attorney's Office in Dallas. They kept telling me I could get a permanent job if I moved to DC. Instead, I went back to a private firm after my contract ran out and stayed in Dallas. Whenever the Dallas USAO had an opening lots of experienced people would bid in from DC and New York so I didn't have a chance in Dallas or anyplace else where I could afford a house. And Mrs. Snowdoggie will never leave Dallas. I know about government salaries. cheeky

My house payment is $420 a month for a place I am not even living in. In four years it will be paid off. When the Mrs. and I got together we both had our own houses and hers was bigger and nicer than mine so I moved in with her. Her house payment is $0 a month. She inherited the place when her father died and he had it paid off. I stash the motorhome and all the other crap her HOA doesn't like at my old place and house a few rescue dogs there. We joke about turning it into a dog kennel. 

Ian F (Forum Supporter)
Ian F (Forum Supporter) MegaDork
11/20/20 5:34 p.m.

In reply to Snowdoggie :

I would consider selling if I could relocate to a different state, but right now that isn't really feasible as I wouldn't want to leave my mother alone in PA. Oddly enough, WFH has made relocating possible.  My company recently re-hired one of our past employees who relocated from our NC office to AZ.  At the moment, the only state that seems attractive to me happens to be Arizona.  Great mtn biking. Good boomstick culture. No rusty cars. Maybe some day... 

Snowdoggie
Snowdoggie HalfDork
11/20/20 5:39 p.m.

In reply to Ian F (Forum Supporter) :

Any road racing tracks in Arizona? All I know is that it gets hot there and there is lots of open desert to drive in. Coyotes, Road Runners, and so on. 

Plus skiing and mountains around Flagstaff. 

yupididit
yupididit PowerDork
11/20/20 5:49 p.m.
mr2s2000elise said:
yupididit said:

It helps that neither of us has debt except her car payment. Pretty comfy lol

G Waggen time? 

 

Nah I ain't got it like you lol

Ian F (Forum Supporter)
Ian F (Forum Supporter) MegaDork
11/20/20 8:52 p.m.

In reply to Snowdoggie :

Arizona Motorsports Park, so apparently yes.

mr2s2000elise
mr2s2000elise UltraDork
11/20/20 10:58 p.m.
yupididit said:
mr2s2000elise said:
yupididit said:

It helps that neither of us has debt except her car payment. Pretty comfy lol

G Waggen time? 

 

Nah I ain't got it like you lol

You mean cheeky ballin so hard, that rollin in old Toyotas? No rap songs about that.... 

yupididit
yupididit PowerDork
11/20/20 11:18 p.m.
mr2s2000elise said:
yupididit said:
mr2s2000elise said:
yupididit said:

It helps that neither of us has debt except her car payment. Pretty comfy lol

G Waggen time? 

 

Nah I ain't got it like you lol

You mean cheeky ballin so hard, that rollin in old Toyotas? No rap songs about that.... 

Early 2000's G Wagons can be had for clean Classic-LC and FJ60 prices lol

dxman92
dxman92 Dork
11/21/20 12:26 a.m.

Real estate here in eastern PA is still insane. In laws are looking at a place to move after selling their place but keep getting outbid. Lucky they were able to arrange move out for January.

docwyte
docwyte UberDork
11/21/20 8:49 a.m.

In reply to yupididit :

14 years in, you shoulda gone after a commision and gone to OCS.  You still can...

yupididit
yupididit PowerDork
11/21/20 9:43 a.m.

In reply to docwyte :

I don't want the adsc that I'll have to complete if I got to ots at this point. My lady is going that route though.

nutherjrfan
nutherjrfan UberDork
11/21/20 12:31 p.m.

In reply to Snowdoggie :

Don't move to DC anybody.

What was once just a glorified bedroom community is now an expensive ghost town. Other than a less crowded post apocalyptic stroll on the Mall it's zombie land without the charm.

Steve_Jones
Steve_Jones HalfDork
11/21/20 12:59 p.m.

I'm afraid to do the math on selling everything and moving someplace cheaper as I bet it's tough to justify not doing it. 

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