221–230 of 321 posts
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Not really. It's only zero on long term capital gains if total income is below a certain threshold.
Isn't short term cap gains taxed like earned income, which below $50k a year is 0 in CA? For federal if you make <$52k (w/ standard deduction) you only pay like a 11% tax rate.
I'm behind the paywall but I'm wondering if this is because, just maybe, younger people understand finances better. When I wanted to buy a house, I waited until I save up the 20%. I know plenty of friends in their late 20s and early 30s who have the same attitude. Me and my wife also paid for our wedding in cash, we waited until we could afford it. You have the millennial generation looking at their parents still wor…
The downside of saving a lot before you buy is that you still have to pay the rent while trying to save that money. Putting 20% down has advantages when making the loan (better rates mostly) so it makes sense, but saving beyond that is making your life more difficult. I think Student Loan debt is a huge factor in buying houses later. It's really hard to save if you're paying down debt as well as paying rent. It could…
I do think that addressing the student loan issue would directly help the housing market.
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A friend just started a new job at a non-FAANG company and got a $100k signing bonus
Must be a director/executive position?
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The downside of saving a lot before you buy is that you still have to pay the rent while trying to save that money. Putting 20% down has advantages when making the loan (better rates mostly) so it makes sense, but saving beyond that is making your life more difficult. I think Student Loan debt is a huge factor in buying houses later. It's really hard to save if you're paying down debt as well as paying rent. It could…
Yeah in my area I'm paying probably $200+/month more for my small apartment than I would for a house that's 2-3 times the sqft. It's frustrating to know that I'd actually be saving money + building equity of I could just buy a house today. But saving up is hard when you're also paying off student debt. My family has told me that you should always save up the 20%, but it seems like like the FHA 3.5% is the winners cho…
You'll spend more than you realize on upkeep, furnishings and the increase cost of utilities. My opinion is If you really want to save money, find a cheap cost of living area and rent. Only buy a house if you need the space and know that you'll be staying in that area for 10ish years.
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You realize that out-of-state tuition for UVA is about $65k a year, right? https://sfs.virginia.edu/cost/19-20
I thought it was implied by "state school" that I meant you should attend a school in your particular state. In-state tuition for UVa is half of that. Additionally it's easy VA to get guaranteed acceptance to a state school after two years of community college.
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you're not getting a starter home for 30k in Dayton unless it comes without walls and was a former meth lab.
Indeed - even cities like Nashville have seen dramatic increases in home prices in recent years: https://www.nashvillepublicradio.org/post/after-years-surgin...
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> My sister lives in an area (in USA) where a 2-bedroom apartment is just $500/month, low crime good living conditions. Presumably, this is because the risk of losing income is higher (lack of job security) and or not as much opportunity to increase income.
She's the only medical doctor for miles. Good luck replacing her. (Hypothetically anyway. Its an option, but my Sister is more realistically looking to live closer to friends / family and is probably going to turn down such offers) Overall, small town doctor is a pretty good position to be in. There's lot of other ways of living rather than FANG-style tech. High-quality doctors and/or nurse practitioners make big mon…
live somewhere else.
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In most 'unaffordable' locations, land is way more expensive than housing. My house, to build new, would cost 250k. The land it sits on is another 750k. The right answer would be to demo my somewhat old house and rebuild 6 units on it. But you can't; setbacks, height restrictions, parking spot requirements etc. make that impossible. Why? Because everyone in the neighborhood already 'got theirs'. But from a usage stan…
You can't build cheap housing, it would drop property values! That's not too far from the truth either. Comparing "comps" is a lazy man's game. They don't look that closely at the houses they are comparing.
I think the answer was "pride of ownership, location, location, location!"
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Yeah - 30 miles outside Raleigh isn't really a small town, IMO. It seems more like a suburb.
Nah, I'd say it counts. Population is under 5,000. It's very much NOT Raleigh.
Its less about population size and more about distance from the urban center. Coulee City is a 2-hour drive from a major city (Spokane), while Buies Creek is maybe a 40-minute drive from a major city (Raleigh).
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From MY perspective, both Buies Creek and Coulee City are rural.
But from the perspective of someone who lives in Coulee City, they probably think Buies Creek is suburban (since it is commute-distance from a city).