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A Growing Problem in Real Estate: Too Many Too Big Houses

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Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#151

Post by robrtsql »

hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

> paying for the freedom to easily up and move if something else fits my fancy.

There is something to be said for this.

However, there is also something to be said for the ability to not be kicked out of your living space directly ("we have decided not to renew your lease") or indirectly ("should you renew your lease, we will be increasing rent by $500 and installing smart locks in every apartment").

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#152

Post by ip26 »

LarryDarrell wrote: post #118
hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

When I call the super they drag their feet, do a half-assed job, take a dump in my bathroom, and then I get a rent increase for "improvements" they've made to the property. I used to own a 1000 sq ft cape cod that was built in 1942. I fixed everything myself and since it was small, nothing could really get out of hand. I believe most of the pain involved in home owning lately has come from bigger houses with more com…

Even worse, they make them bigger for the same price by cutting quality.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#153

Post by LeifCarrotson »

scarface74 wrote: post #117
hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

Those two complaints are easy to fix. Get a yard service - I pay $150 a month for them to come twice a month. Get a home warranty - it’s about $600 a year and they fix everything - appliances, hot water heaters, plumbing, etc. I haven’t purchased one for current home because it’s a new build, but I did for furnished rental property I previously owned. In the grand scheme of things for an owner occupied home it’s prob…

Do not get a home warranty. It's about $600 a year and they do nothing when you report an issue. When you call to complain, they send a contractor. Who doesn't show up. When the third contractor they promise to send finally shows up, they're the cheapest contractor they could find in 100 miles and they make the problem worse. Finally you threaten to sue and they close the policy and give you cash in lieu of replacement and you take care of it yourself.

It very often costs a lot more than $600 to maintain a home for a year. The warranty service only makes money if they can spend less than that on the home. As a result, the biggest and most profitable warranty companies are the ones that promise the most and spend the least.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#154

Post by AnimalMuppet »

dfischer wrote: post #140
lotsofpulp wrote: post #136

Earlier quoted context omitted.

Most people have the same thoughts (at least in the income class that can afford to move around), until they have children and need a good school district.

School today is an archaic design. Education has no bounds with the internet and the spread of information where it is no longer asymmetric. School and universities are falling out of favor. What matters is what skills you have over what degree. The internet and the corpus of knowledge equalizes this. This assumes connectivity is a given – I believe connectivity will be tablestakes in a variety of situations and ince…

I think/hope that in 20 years, this will be true. I'm not sure it's true enough yet to let you really ignore the school system and/or university.

You can homeschool, though...

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#155

Post by epicureanideal »

hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

Free startup idea: property management for your own single family home. "I want to own, but I don't want to deal with all this stuff."

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#156

Post by stale2002 »

newsoul2019 wrote: post #139
hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

Am I the only one who has always seen renting as a temporary arrangement only? If you don't own something, somewhere, doesn't that mean the same as being homeless? Not trying to offend anyone. Genuinely wondering, are there people who really don't want to own real estate ever in their lives?

No? It give me freedom to rent.

At any point that I feel like it, I can pick up and move. Whether it is to a place across the street or on the other side of the country.

I wouldn't have nearly that much freedom if I had the misfortune of owning my own place.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#157

Post by alkonaut »

dfischer wrote: post #132

Insight into younger generations: I hate the idea of owning property. I don't want to be stuck to a city or a location. The world, and the universe have so much to offer. To me, buying a house is cementing your location and stunting the amount of knowledge you can acquire by handcuffing you to a location and limiting your exposure to the world. That is the philosophical side, then there's the debt and the overall ass…

Before I had kids I didn’t want to own a home or a car. Now I want to own it because I just don’t want the hassle of moving with schools and friends and whatnot. It’s a 10-15 year period of my life that I want this. Afterwards, who knows. But there will always be a market for people who want to just settle in one place for 15 years. I don’t think this is generational, I think it’s mostly just age.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#158

Post by AnimalMuppet »

roasm wrote: post #128
hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

This seems like a great area for disruption. You can imagine a property manager for a homeowner who you call for anything. They can charge a monthly fee plus a percentage on top of any (vetted) subs they use. A single person can probably juggle dozens to hundreds of homes; then scale that. It's the services of a rental property manager without the rental part. With adults these days (me included) being more technical…

Such things exist. I hear ads for them on the radio. They pitch themselves as "maintenance insurance" or some such, but I think it would do what you're asking.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#159

Post by ip26 »

hn_throwaway_99 wrote: post #93

One of the trends that I can only hope continues is getting rid of this idea that home ownership (especially single family home ownership) is the American dream. I live in and own a detached single family home (was a compromise with my spouse) and to be honest, I hate it. I hate having to take care of the yard, to deal with unreliable tradespeople when things break, to deal with the huge expense of minor home repairs…

I hate mowing. I don't care about lawns. But I like being in control. No more moving every year to keep rent low. Update & customize to meet my desires & save money. Grow a garden & wildflowers. Remember the names of my neighbors (because the neighborhood isn't a revolving door).

But, I've always loved the long game. Plant trees for shade in ten years. Build a pergola (more shade, cooler house). Replace the old crappy X with a higher quality model that will pay for itself in five years. So on & so forth.

You do have to learn to do some of the work yourself, because tradesmen are more trouble than they are worth for small jobs.

Re: A Growing Problem in Real Estate: Too Many Too Big Houses

#160

Post by showerst »

dfischer wrote: post #143
m463 wrote: post #141

Earlier quoted context omitted.

Also theres the "That place was so expensive back then, but now I realize I should have bought 2 of them"

This has an interesting inheritance of why properties go up in value in relation to supply and demand and an economy. If the needs of society are pushed to an average of not needing to venture out anymore due to automation and manufacturing + remote work then we start to focus internally on community. If that's the case, how much does the location matter outside maybe the view you're able to afford?

I'd argue that it matters _more_ in that case, because the returns to clustering will be higher, and the non-work features (access to outdoors, climate) will matter more.

I think in a world where you don't worry about jobs, and worry less about living expenses, Boulder and San Diego and Manhattan get _more_ desirable.

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