Posted on 02/07/2024 8:53:49 PM PST by NoLibZone
What would be some ways to make single-family residential homes more affordable for the next generations?
Can it be done without violating conservative or capitalist values?
so many worldly ideas, some probably good, but nary a thought of God.
Luke 12:30-31 NKJV
“For all these things the nations of the world seek after, and your Father knows that you need these things. But seek the kingdom of God, and all these things shall be added to you.
You didn’t have as much stuff back then, so now you need a bigger place for your stuff.
Wherever codes allow it, older smaller homes are being demolished in favor of “McMansions”. If updated and upgraded instead they’d remain more affordable. And allowing auxiliary apartments in single family residential neighborhoods makes it possible for young adults or their parents to share a home but retain some privacy. Or to take in a tenant to help cover costs.
Close down all the civilian airports within 100 miles of an area with a significant homeless population. The US government owns the airspace and can simply close it down. Corporations paying top salaries shun areas without good airline service.
Prohibit governments from subsidizing professional sports. There is a reason why the Buffalo stadium is getting about $700 million in subsidies and Buffalo is experiencing great housing price inflation. Cities like Apple cell phones and designer clothing can become branded glamour items.
Here in Florida constructions runs about $120/square foot for middle class-sized homes.
Prospective home buyers should deeply research building permit cost information and have a good knowledge of all ‘affordable’ housing pricing in their chosen areas of interest. If a Democrat family is paying $235K for a place why should a Republican family pay $345K for a similar place?
Homebuyers should be able to calculate lumber and masonry amounts well and know the approximate cost of those materials.
“1,600 sf”
Remember the walls (and inside electric and plumbing lines) of a 2500 sf house are only about 25% longer.
When I was going through a home search a couple of years ago I found that it was impossible to find a small detached home in my area that is less than 50+ years old. Condos and townhomes have replaced bungalows, Cape Cod homes, and small ranchers as “starter homes.”
I ended up buying a large home that is at least 50% more than I need but cost less — with lower taxes and minimal HOA fees — than townhomes in the next county just a few miles away.
Easy....build their homes themselves and out of scraps. That way they can afford to pay for; their cell phones, torn jeans, body piercings, tattoos, gteen or blue hair jobs, drugs and alcohol, vegan food, exotic pets and dogs, concerts, raves,contributions to educate and feed other people and their kids, take out food, movies. Uber and tips, sex “changes”, abortions, and treatment for VD.
But now large houses have 3,000 to 6,000 sf with cathedral ceilings.
“Wherever codes allow it, older smaller homes are being demolished in favor of “McMansions”. If updated and upgraded instead they’d remain more affordable.”
People buy housing based on square footage rather than construction cost. A bigger house that costs 25% more to build might fetch 50% more when sold.
A lot of old housing needs major repairs. To replace old plumbing in a 1950s house may cost three times as much as the new plumbing of its McMansion replacement.
“And allowing auxiliary apartments in single family residential neighborhoods makes it possible for young adults or their parents to share a home but retain some privacy. Or to take in a tenant to help cover costs.”
If a housing lot can legally support four housing units, it will be priced accordingly. The grunts may finally get housing for themselves but then the managerial class will get priced and/or taxed out.
At one time Midtown Manhattan was mainly residential. Walk around West End London but imagine brownstone instead of stucco and brick. Around 1900 NYC widened 5th Avenue and the brownstones lost their stoops and were converted into stores and then often into office buildings. The managerial class fled to Westchester and Nassau counties.
Back dwellings developed a bad reputation in old New York and alley dwellings developed a bad reputation in Washington, DC. Photographs were made of slum dwellings with the US Capitol in the background. Congress created many parks and office buildings near the Capitol after clearing out the slum dwellings.
Deport 20 to 30 million invaders.
My first home in 1978 was 900 sq ft INCLUDING a one car garage, so livable space was about 700 sq ft. Spent five years there, got hitched, and we moved to a 1,600 sq ft home that was built in 1952. At the time, 1,600 sq ft was TWICE the national average house size. My wife was raised with her brother in a 1,000 sq ft home so 1,600 seemed luxurious to her! We raised our family in that four-bedroom, 1,600 sq ft rancher and still own it.
Young people should learn to be satisfied in those types of smaller homes. As others have said, start small, build some equity, and then move up, but don’t go getting a 5,000 sq ft home with huge mortgage and huge maintenance expenses.
I will always remember dear old Dad’s sage advice: “Son, don’t be house-rich and cash-poor.” Of course, buying in Silicon Valley assured we would be both house-poor AND cash-poor (even back in 1978!). But it all worked out.
“Build smaller homes”
In Los Angeles, quite often only about 30% of the price paid is for the structure. Making the structure smaller is not going to make for a much lower price.
The rest of the price is for climate rarity, glamour, airline & business connections, commute time, store and restaurant variety, employment opportunity, college accessibility, cultural attractions, and much, much more.
Make property taxes less onerous by reducing school budgets and allowing homeschoolers or private schoolers to be free of property taxes.
Any parents raising children in married, two-parent heterosexual households have markedly reduced income taxes.
“Yan says places like Hong Kong and Singapore use much higher taxes and rigid buyer restrictions to cool prices.”
“He credits Singapore’s success to aggressive speculation taxes — 60 per cent compared to B.C.’s 25 per cent — and the use of those taxes to create robust public housing stocks.”
“Singapore’s housing is 80 per cent public, compared to Canada’s, which sits at about 5.5 percent, according federal housing data.”
Reform zoning laws.
Tell them to stop spending their money on apps, starbucks, and fast/take out food.
They essentially are all growing up knowing squat about personal finances. They don’t know how to cook and they spend a ton, likemup to 25% of their young lower incomes on takeout/fast food and coffee/drinks.
“Reform zoning laws.”
2024 price $435,000
2025 price $395,000
2026 price $365,000
2027 price $345,000
December 2027 I want a mortgage.
Sorry, the mortgage limit is the structural construction cost less need improvment costs only.
$310,000?
No!
$300,000?
No!
$290,000?
No, try $160,000.
I don’t have $185,000!
Be nice to your landlord!
Just what happened a few houses down. Demolished a 3 bedroom ranch and put up a 8600 sq ft M mansion appraised at $6,000,000 by the county appraiser.
Mortgages were typically limited to 50% of value prior to zoning and were hard to get.
Zoning made the home-owning middle class possible.
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