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re: The math for buying a home no longer works, per WSJ
Posted on 12/20/23 at 9:15 am to alajones
Posted on 12/20/23 at 9:15 am to alajones
quote:
Also, I’ve been saying for years that there are an assload of affordable houses, they’re just in neighborhoods where people don’t want to live. Addressing this issue would bring housing prices down also.
I have said this a lot and got shredded on here. Those houses also need some sweat equity usually and all I hear is how first-time home buyers aren't capable or don't want to deal with that.
A lot of the issue is people want shiny and new. I get it but you have to start somewhere.
"Zombie houses" could solve a lot of the inventory issues.
This post was edited on 12/20/23 at 9:17 am
Posted on 12/20/23 at 9:34 am to stout
Sweat equity still isn’t free. You need materials and tools oftentimes to do the renovations. Most FTHB don’t have the funds lying around liquid to buy a house and then dump 20-30k into renovations.
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