Modernism done right
Why can't young people afford houses?
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Last: 8 hrs ago by boognish_bear
Brooklyn Heights (arguably the best suburb in North America) an excellent model in how to build places for all ages, household types, and stages of life, without compromising on beauty pic.twitter.com/x7YHLzEON9
— Coby (@Cobylefko) November 4, 2024
Brooklyn Heights is really nice. It was not that nice 35 years ago pre gentrification though.
But really this is sort of a microcosm of why the entire country is at odds in one tweet.
Brooklyn Heights is .32 sq miles with 78,000 per sq mile.
Dallas is 385 sq miles and about 3,800 people per.
As it turns out most Americans don't want to live at 78,000 people per sq mile…and most New Yorkers wouldn't if they had an option.
The top 12 cities in this country in population density are in the NY/NJ metro. When your large publications come from those areas they think that's "normal" or "how it should be" without recognizing that there's really no place else in the U.S. like NYC. Chicago might be kind of sort of close but even that's a poor comp because there's no land lock on 3 of the sides (which is where growth occurred, out and away from the city).
The average rent in BH is $4,300/mo and the average apartment is just over 600 sq ft. A 2BD will set you back just shy of $6,000/mo. That's the mortgage payment on an $800,000 home at least and depending on interest and taxes closer to $1,000,000. Have a couple kids? The average 3BD will run over $10,000/mo.
There are 0 free standing homes in BH and the average price right now for any home (that's a non apartment, non condo) is $9,739,000.
But really this is sort of a microcosm of why the entire country is at odds in one tweet.
Brooklyn Heights is .32 sq miles with 78,000 per sq mile.
Dallas is 385 sq miles and about 3,800 people per.
As it turns out most Americans don't want to live at 78,000 people per sq mile…and most New Yorkers wouldn't if they had an option.
The top 12 cities in this country in population density are in the NY/NJ metro. When your large publications come from those areas they think that's "normal" or "how it should be" without recognizing that there's really no place else in the U.S. like NYC. Chicago might be kind of sort of close but even that's a poor comp because there's no land lock on 3 of the sides (which is where growth occurred, out and away from the city).
The average rent in BH is $4,300/mo and the average apartment is just over 600 sq ft. A 2BD will set you back just shy of $6,000/mo. That's the mortgage payment on an $800,000 home at least and depending on interest and taxes closer to $1,000,000. Have a couple kids? The average 3BD will run over $10,000/mo.
There are 0 free standing homes in BH and the average price right now for any home (that's a non apartment, non condo) is $9,739,000.
"Homeownership is unaffordable for the middle class," per Bankrate.
— unusual_whales (@unusual_whales) November 25, 2024
why would I be an outlier on this topic if I expect my kids to live within their budget?Oldbear83 said:
JR, you have made very clear that you are an outlier in essentially every respect.
Property taxes in Texas.
— AKM (@akm515) December 22, 2024
$14,000 on a 3500 sq ft house.
The economics of home ownership just doesn't make sense anymore for 90% of home buyers.
Don't buy that lie. That's someone pushing for a state income tax. You will pay the income tax AND the property tax and the sum will be greater than just the property tax.
New home sales stagnate in DFW, prices fall https://t.co/a1ufPvCY2S
— WFAA (@wfaa) December 24, 2024
Redbrickbear said:Brooklyn Heights (arguably the best suburb in North America) an excellent model in how to build places for all ages, household types, and stages of life, without compromising on beauty pic.twitter.com/x7YHLzEON9
— Coby (@Cobylefko) November 4, 2024
What a ****hole. Who would want to live there? Lmao
The growing instability in the U.S. homeowners insurance markets could lead to a housing crash worse than the 2008 one unless policymakers act fast, the Senate Budget Committee has said.
— unusual_whales (@unusual_whales) December 26, 2024
The e National Association of Realtors found that the median age of first-time homebuyers hit 38 in 2024, a record high.
— unusual_whales (@unusual_whales) December 25, 2024
In 1981, the median age of a first-time buyer was 29; in 2014, it was 31.