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Thread: Could you afford to live now in the house and/or neighborhood you grew up in?

  1. #36
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Quote Originally Posted by Paul Pless View Post
    paved paradise and put up a parking lot?
    It would be hilarious if it wasn't such an idiotically detrimental thing to do to ourselves.

    I simply cannot overemphasize the value of this soil. It is as good as it gets.

    And, instead of protecting this food engine, keeping the soil and aquifers as intact as possible, we play jerk games with money and rights and laws. Build ostentatious, sprawling mansionette developments, and golf courses that are smooth and green. Polo fields in the desert...

    There is no going backward here. Once the topsoil is gone, it's gone, and this place goes back to being the same hardpan desert stinkhole it was. I've seen it. I am seeing it.

    See, it was all glaciers and rivers, working over time, that made all these rich soils. Then, the early immigrants to the valley began to irrigate and discovered the bounty of the soil. Werd up, Fresno scraper! (This guy is credited with the Fresno scraper, I believe. He did huge feats of engineering around here, including his own home. It's a small haul from here, but it is AMAZING! http://www.undergroundgardens.com/)

    Now, those immigrant farmers' grand, and great grand kids are selling it all off to make strip malls and condos and apartments, so they can buy Google cars and mega yachts.

    Dont worry, though. We are already moving toward soilless farming. Huge strides have been made in ag by people who saw the soil problem years ago.

    Peace,
    Robert

  2. #37
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Quote Originally Posted by Keith Wilson View Post
    An interesting point: none of the calculations here involve the day-to-day cost of living; food, heat, taxes, electricity, transportation, none of that. That doesn't vary much. It's all the cost of housing, which varies enormously, both over time and by location.
    I kind of assumed that the question implied (in a ceteris paribus kind of way) keeping one's current job at whatever the going local rates are. That would make housing in the Arctic barely affordable for me (not in the research camps where I actually lived, of course), but transportation would be difficult. Airfare to Resolute looks to be around $4800 CAD right now... one way.

    What are you doing about it?




  3. #38
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    The house is still there. Zillow says it's value is $1.5 million. Apparently some renovation has been been done to it, as it's listed as a single family with 4 bedrooms and 2 baths, whereas when my parents sold it for $125K in 1972 it had two living quarters - a rental studio in the rear and our living space in the front. I would be kinda curious to see what has happened to it since and I didn't think my parents got enough for it when they sold it, but I can't imagine wanting to live in a row house in center city Philadelphia for any reason known to woman or man, so the question is moot.
    A society predicated on the assumption that everyone in it should want to get rich is not well situated to become either ethical or imaginative.

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  4. #39
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    I grew up in apartments so I cant use that as a comparison however my current home I bought about 34 years ago for 87k. A similar home down the street sold for over 650k. Nothing fancy the area was built in the 1940s/1950's about 1150 sq ft on the average. Ive added on so Im at 1650 sq ft. Very quite working middle class town. No industry. A bedroom community.

  5. #40
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Tough to answer. My parents had nine different houses by the time I graduated from high school. Some of those would have gone up, some down in price. We have owned two in 50 years--one sold for half what I paid for it, the other seems to be worth roughly double what I paid 30 years ago. The mortgage bond market hits and misses. Might note that the houses around here are selling from prices ranging from $150,000 to about $3.5 million, so it's tough to generalize. (FWIW, the $3.5 million sale was about one third the original construction cost.) FWIW, the current property taxes now equal the former mortgage payment.
    Last edited by Dan McCosh; 08-03-2017 at 11:08 AM.

  6. #41
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Quote Originally Posted by elf View Post
    The house is still there. Zillow says it's value is $1.5 million. Apparently some renovation has been been done to it, as it's listed as a single family with 4 bedrooms and 2 baths, whereas when my parents sold it for $125K in 1972 it had two living quarters - a rental studio in the rear and our living space in the front. I would be kinda curious to see what has happened to it since and I didn't think my parents got enough for it when they sold it, but I can't imagine wanting to live in a row house in center city Philadelphia for any reason known to woman or man, so the question is moot.
    You and W.C. Fields.

  7. #42
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Quote Originally Posted by Keith Wilson View Post
    An interesting point: none of the calculations here involve the day-to-day cost of living; food, heat, taxes, electricity, transportation, none of that. That doesn't vary much. It's all the cost of housing, which varies enormously, both over time and by location.
    People make different assumptions in giving an answer. I assumed paying the value of my childhood home at its location for a home in my current location. I made the quick calculation that the current value of my childhood home was insignificant to my financial position.

    It might be about the cost of housing for many, but for me it is about opportunity cost. I look at the year over year change in my financial assets. That is much too complex to do for an internet question.
    Life is complex.

  8. #43
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Not a hope. If I sold my house here in northern BC, I would have enough for a substantial down payment on a condo in the municipality where I grew up.

  9. #44
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Michelle Pfiefer now owns the house. I would have to win the lottery.



    Starting next summer... I will be hunting for a small historic home in Normandy and a place to live in the states.
    KC and I may be coming to the east coast soon for a house hunting and imagining a huge lifestyle change trip also included in this plan.
    Last edited by Ted Hoppe; 08-03-2017 at 02:21 PM.
    The world's big and I want to have a good look at it before it gets dark.

  10. #45
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Yes, but my Dad still lives there. He's been there for sixty years, so I wouldn't want to dislocate him.
    Hope for the best, but plan for the worst.

  11. #46
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Yes, but I wouldn't want to. It was right around 1,000 square feet when my parents bought it. Over the next 50 years they added two wings and lived their lives, but five or six years before my dad died they sold out and moved out into the country. About a year ago mom sold her house and we built her a nice home on my land close to my cabin.

    I moved away from home when I was 18, which would have been 1978. Since then my old neighborhood has gotten shabby and run down, and there was a murder in our old home a couple of months ago.

    I think it is hard to go back, and I wouldn't want to. Life was not easy for us when I was young, and I learned to look ahead, not behind.

    Mickey Lake
    'A disciple of the Norse god of aesthetically pleasing boats, Johan Anker'

  12. #47
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    No and yes. The house we lived in until I was 9 is totally out of reach now (low bank waterfront just north of Olympia, WA with about 200' of waterfront). I couldn't even swing our weekend cottage on Hood Canal (2 bedroom cottage with its own boathouse and marine railroad on 500' of waterfront with 10 acres across the road). Waterfront property was cheap in western Washington in the 50s.

    From age 10 until I finished high school we lived in a small three bedroom house in Centralia, WA. That house is now worth about $125K. I could easily live there but it would be a HUGE step down, plus it is way inland (22 miles from saltwater).

    Note: my dad died just before my 10th birthday which greatly changed our circumstances.

  13. #48
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    I've just checked what the prices are doing back home, and it's likely that if we sold our Auckland house for the value the bank put on it last month, we'd be able to buy equivalent houses to the one I grew up in and the one Bridgit grew up in back in the UK, same neighbourhoods, bedroom counts, etc. That's partly because the Pound has slipped so far against the Kiwi dollar, and partly because we did well selling our fist house in the UK on a high and buying in Auckland near the bottom of the current surge.

    I wouldn't even want to think about doing it though, I'd rather hang on to the mortgage and stay in Auckland.
    'When I leave I don't know what I'm hoping to find. When I leave I don't know what I'm leaving behind...'

  14. #49
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    The areas where I grew up (Manitoulin Island and Sudbury) have had hard economic times as of late so I could certainly afford to live in either one of them. That does not mean I have any desire to, Ottawa has a great deal more to offer. It would be nice to have a summer place on the Manitoulin but the drive is just too far to make sense unless I planned to spend the entire summer there.

  15. #50
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Very interesting question. Just took a look at the place. 25 Oakridge Drive, Huntington NY. Lived there until I was 14.
    Yes I could afford it now. It's estimated at a similar price to what we are spending for our new home on Saint Helena Island. The SC home is 800SF bigger with an outbuilding shop and boat garage, plus a 3 car garage under the house.
    Of course the home in SC is waterfront with a fifty foot long deepwater floating dock and big covered pierhead.
    Whats amazing is how the prices in NY haven't recovered at all since the Great Recession.

    But the REAL kicker is the taxes. The SC property tax will be around $3500/yr. The NY taxes? Over $18,000!

    So so basically you could give me my old house, for free and I'd say no thanks if living there was part of the deal. No way I'd ever go back.

    My dad sold that house in NY in 1976 for $67,000.
    Last edited by Reynard38; 08-04-2017 at 09:29 AM.
    Fight Entropy, build a wooden boat!

  16. #51
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    No way. My parents moved several times in suburbs to take advantage of the then tax preferences when you sell in 7 or 8 years. Each of the houses were rising in value then and continued to appreciate. I also dislike suburbs, I daydream about settling in the urban prairie like Detroit or Cincinnati, fixing up an abandoned house.
    "Never get out of the boat." Apocalypse (Then)

  17. #52
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Yes.
    But I wouldn't want to.

  18. #53
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    Default Re: Could you afford to live now in the house and/or neighborhood you grew up in?

    Hahahahahaha, ........... The house I grew up in my parents bought in 1960, for $16K, +/- a few dollars, they actually paid $18K + a bit because they bought it "with contents" from an estate. That same town today, .... "IF" you can find a building lot to put a house on it is going in excess of $1 million an acre. I couldn't even afford the real estate taxes there. The annual real estate taxes are what people pay for their house in some parts of the country. -- This in part explains why I now live 200 miles away with cows across the street.

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