i mean if you have to pay for it either way at least its more convenient paying HOA than shopping around for roofers etc. myself
So when’s the housing bubble bursting?
- Thread starter Dr. Truth
- Start date
Not really , you’re paying a constant maintenance fee for life . Fuck that shit. A one time payment of 20-40k for a roof vs. 100+k of payments to an HOA association that blows leaves and washes windows 99% of the time. Condos never need a roof based on how they are built so what are they doing with all that money?
I got a couple rentals that are townhomes & the Hoa is a straight scam. I damn near cussed out the hoa manager for one of my rentals because they're taking forever to fix a roof leak. Them bitches had the nerve to raise the hoa fees too
Hate that shit , and they can’t explain what all that money is for. We had 27 people in our building and the highest HOA in the penthouse unit was 1100 a month. So do the math if everybody is paying $475-$1100 every month x 27!?!? $13,000+ a month for what!?!?!?I got a couple rentals that are townhomes & the Hoa is a straight scam. I damn near cussed out the hoa manager for one of my rentals because they're taking forever to fix a roof leak. Them bitches had the nerve to raise the hoa fees too
its more than just a roof tho, theres so much from what i've heard especially if you buy a house on the East Coast or somewhere where the climate is more harsh rather than like Cali or AZ or something
A single family home will appreciate in value more over time. The houses in my area doubled in value whereas the condos and townhouses only went up by a little bit relatively speaking.
Plus most condos (at least in Florida) don't take FHA so they'll be harder to sell.
canadians are so fucked
if any one needs an apocalyptic crash, its them
but the chinese and indians will just buy anything anyway
DC mayor calls on Biden to end federal work-from-home or create affordable housing
The federal government owns or leases one-third of Washington office space.
ByBeatrice Peterson
January 2, 2023, 1:19 PM
abcnews.go.com
Since the rise of work-from-home during the COVID-19 pandemic, Washington is among many American cities that have wrestled with vacant office space while simultaneously battling a lack of affordable housing.
On Monday, Washington Mayor Muriel Bowser called on President Joe Biden to either end work-from-home telework policies for federal government employees or turn over vacant government buildings in the nation's capital for housing in a new push to move 100,000 new residents into the city.
The federal government accounts for one-third of properties owned or leased in Washington and a quarter of the city's pre-pandemic jobs.
The city is utilizing tax breaks to encourage the conversion of vacant office buildings as a solution to the lack of housing but Bowser says Biden needs to help.
"We need decisive action by the White House to either get most federal workers back to the office, most of the time, or to realign their vast property holdings for use by the local government, by nonprofits, by businesses and by any user willing to revitalize it," she said.
Bowser notes that currently 25,000 people currently call downtown D.C. home. She says the city will "add 15,000 residents over the next five years and 87,000 more before it's all said and done." Currently, 92% of the central business district consists of commercial space, residential space only accounts for 8%. That's according to Bowser's Housing in Downtown Abatement Program, which the mayor's office seeks to encourage a rise in new residential conversion projects.
CBRE, a global commercial real estate company that has studied office conversions, notes that only 218 office conversions were completed in the U.S. between 2016 to 2021 an average of 36 conversions a year. However, by early December 2022, CBRE says 42 buildings had been converted within the last year. Boston leads the market with 38 building conversions, San Francisco Peninsula with 28, and D.C. and Los Angeles were tied for third with 11 building conversions each. Many of the cities that out-ranked D.C., unlike Washington, don't have to negotiate with the federal government as a landlord.
In December, in an effort to promote a reimagined downtown, Mayor Bowser announced the conversion of the old Vanguard building that headquartered the Peace Corps for decades. The building will be converted to the Elle Apartments and is expected to add 163 residential units when it opens in May 2024.
Bowser said in December, "We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play."
Deputy Mayor John Falcicchio said in December that the city's downtown reimagination strategy has three key points: "Change the space, fill the space, and bring the people."
Falcicchio added, "creating new housing in downtown will lead to a more vibrant neighborhood and a 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities."
D.C., which has over 20 million square feet of vacant office space, hopes that the Housing in Downtown Abatement Program will incentivize future residential transformations by offering tax relief to buildings that include at least 15% of total units to be affordable to 60% of people who qualify for the median family income threshold, which is $103,200 for a four-person family.
Bower's historic third term as the first Black woman mayor to serve three consecutive four-year terms will be met by a new Congress and new GOP leadership. Despite D.C.'s lack of statehood, Bowser is vowing to continue to fight for Washington's autonomy. At her swearing-in Monday, she noted, "as this new Congress starts, I promise to keep fighting for control over everything that we need in the district, protecting our bodily autonomy, the ability to tax and regulate our businesses, and to provide services to our justice-involved youth."
The Office of Personnel Management, the chief human resources agency for the federal government, did not immediately respond to an ABC News request for comment.
Mayor Muriel Bower delivers remarks at the Legacy Leadership Luncheon & Awards during National Urban League Conference, July 22, 2022, in Washington, D.C
The federal government owns or leases one-third of Washington office space.
ByBeatrice Peterson
January 2, 2023, 1:19 PM
DC mayor calls on Biden to end federal work-from-home or create affordable housing
DC Mayor Muriel Bowser called on President Joe Biden to end federal work-from-home or give up government office space to help create affordable housing.
Since the rise of work-from-home during the COVID-19 pandemic, Washington is among many American cities that have wrestled with vacant office space while simultaneously battling a lack of affordable housing.
On Monday, Washington Mayor Muriel Bowser called on President Joe Biden to either end work-from-home telework policies for federal government employees or turn over vacant government buildings in the nation's capital for housing in a new push to move 100,000 new residents into the city.
The federal government accounts for one-third of properties owned or leased in Washington and a quarter of the city's pre-pandemic jobs.
The city is utilizing tax breaks to encourage the conversion of vacant office buildings as a solution to the lack of housing but Bowser says Biden needs to help.
"We need decisive action by the White House to either get most federal workers back to the office, most of the time, or to realign their vast property holdings for use by the local government, by nonprofits, by businesses and by any user willing to revitalize it," she said.
Bowser notes that currently 25,000 people currently call downtown D.C. home. She says the city will "add 15,000 residents over the next five years and 87,000 more before it's all said and done." Currently, 92% of the central business district consists of commercial space, residential space only accounts for 8%. That's according to Bowser's Housing in Downtown Abatement Program, which the mayor's office seeks to encourage a rise in new residential conversion projects.
CBRE, a global commercial real estate company that has studied office conversions, notes that only 218 office conversions were completed in the U.S. between 2016 to 2021 an average of 36 conversions a year. However, by early December 2022, CBRE says 42 buildings had been converted within the last year. Boston leads the market with 38 building conversions, San Francisco Peninsula with 28, and D.C. and Los Angeles were tied for third with 11 building conversions each. Many of the cities that out-ranked D.C., unlike Washington, don't have to negotiate with the federal government as a landlord.
In December, in an effort to promote a reimagined downtown, Mayor Bowser announced the conversion of the old Vanguard building that headquartered the Peace Corps for decades. The building will be converted to the Elle Apartments and is expected to add 163 residential units when it opens in May 2024.
Bowser said in December, "We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play."
Deputy Mayor John Falcicchio said in December that the city's downtown reimagination strategy has three key points: "Change the space, fill the space, and bring the people."
Falcicchio added, "creating new housing in downtown will lead to a more vibrant neighborhood and a 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities."
D.C., which has over 20 million square feet of vacant office space, hopes that the Housing in Downtown Abatement Program will incentivize future residential transformations by offering tax relief to buildings that include at least 15% of total units to be affordable to 60% of people who qualify for the median family income threshold, which is $103,200 for a four-person family.
Bower's historic third term as the first Black woman mayor to serve three consecutive four-year terms will be met by a new Congress and new GOP leadership. Despite D.C.'s lack of statehood, Bowser is vowing to continue to fight for Washington's autonomy. At her swearing-in Monday, she noted, "as this new Congress starts, I promise to keep fighting for control over everything that we need in the district, protecting our bodily autonomy, the ability to tax and regulate our businesses, and to provide services to our justice-involved youth."
The Office of Personnel Management, the chief human resources agency for the federal government, did not immediately respond to an ABC News request for comment.
Mayor Muriel Bower delivers remarks at the Legacy Leadership Luncheon & Awards during National Urban League Conference, July 22, 2022, in Washington, D.C
DC mayor calls on Biden to end federal work-from-home or create affordable housing
The federal government owns or leases one-third of Washington office space.
ByBeatrice Peterson
January 2, 2023, 1:19 PM
DC mayor calls on Biden to end federal work-from-home or create affordable housing
DC Mayor Muriel Bowser called on President Joe Biden to end federal work-from-home or give up government office space to help create affordable housing.
Since the rise of work-from-home during the COVID-19 pandemic, Washington is among many American cities that have wrestled with vacant office space while simultaneously battling a lack of affordable housing.
On Monday, Washington Mayor Muriel Bowser called on President Joe Biden to either end work-from-home telework policies for federal government employees or turn over vacant government buildings in the nation's capital for housing in a new push to move 100,000 new residents into the city.
The federal government accounts for one-third of properties owned or leased in Washington and a quarter of the city's pre-pandemic jobs.
The city is utilizing tax breaks to encourage the conversion of vacant office buildings as a solution to the lack of housing but Bowser says Biden needs to help.
"We need decisive action by the White House to either get most federal workers back to the office, most of the time, or to realign their vast property holdings for use by the local government, by nonprofits, by businesses and by any user willing to revitalize it," she said.
Bowser notes that currently 25,000 people currently call downtown D.C. home. She says the city will "add 15,000 residents over the next five years and 87,000 more before it's all said and done." Currently, 92% of the central business district consists of commercial space, residential space only accounts for 8%. That's according to Bowser's Housing in Downtown Abatement Program, which the mayor's office seeks to encourage a rise in new residential conversion projects.
CBRE, a global commercial real estate company that has studied office conversions, notes that only 218 office conversions were completed in the U.S. between 2016 to 2021 an average of 36 conversions a year. However, by early December 2022, CBRE says 42 buildings had been converted within the last year. Boston leads the market with 38 building conversions, San Francisco Peninsula with 28, and D.C. and Los Angeles were tied for third with 11 building conversions each. Many of the cities that out-ranked D.C., unlike Washington, don't have to negotiate with the federal government as a landlord.
In December, in an effort to promote a reimagined downtown, Mayor Bowser announced the conversion of the old Vanguard building that headquartered the Peace Corps for decades. The building will be converted to the Elle Apartments and is expected to add 163 residential units when it opens in May 2024.
Bowser said in December, "We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play."
Deputy Mayor John Falcicchio said in December that the city's downtown reimagination strategy has three key points: "Change the space, fill the space, and bring the people."
Falcicchio added, "creating new housing in downtown will lead to a more vibrant neighborhood and a 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities."
D.C., which has over 20 million square feet of vacant office space, hopes that the Housing in Downtown Abatement Program will incentivize future residential transformations by offering tax relief to buildings that include at least 15% of total units to be affordable to 60% of people who qualify for the median family income threshold, which is $103,200 for a four-person family.
Bower's historic third term as the first Black woman mayor to serve three consecutive four-year terms will be met by a new Congress and new GOP leadership. Despite D.C.'s lack of statehood, Bowser is vowing to continue to fight for Washington's autonomy. At her swearing-in Monday, she noted, "as this new Congress starts, I promise to keep fighting for control over everything that we need in the district, protecting our bodily autonomy, the ability to tax and regulate our businesses, and to provide services to our justice-involved youth."
The Office of Personnel Management, the chief human resources agency for the federal government, did not immediately respond to an ABC News request for comment.
Mayor Muriel Bower delivers remarks at the Legacy Leadership Luncheon & Awards during National Urban League Conference, July 22, 2022, in Washington, D.C
This Bitch crazy.....You trying to start a war with the Feds? She only doing this because Keisha got the position she wanted and she would kickbacks from the developers who build these new homes.
Oklahoma & Arkansas surprises me. I'd thought they will be in the middle of the pack.
Still a come up. Still worth more than you paid...That's always a plus.
B.C. homebuyers now have 3-day cooling off period to change their minds
Most homebuyers in British Columbia now have three business days to think about their purchase, allowing them to back out if they can’t secure financing or arrange a home inspection – or even if they just get cold feet.
B.C. government increases homeowner grant limit as home values rise by 12 per cent
The British Columbia government is boosting the homeowner grant threshold to $2.125 million for this year as average property values increase by 12 per cent.
Divorcing couple appeals B.C. home assessment, arguing it's both too high and too low
A Denman Island homeowner's appeal of her 2022 property assessment succeeded in reducing the home's value by a few thousand dollars, but not before her ex joined the appeal and attempted to raise the assessment by nearly $300,000.
Business and Finance News in Canada – TSX Today – CTV News
Follow the latest business and financial news on the Bank of Canada, interest rates, inflation, housing market, real estate and more.
BC Assessment updated their site recently. They let you know what the assessed value is for your place as of July of the past year.
Checked the other day and it was up just under $100,000 from last year.
www.bcassessment.ca
Checked the other day and it was up just under $100,000 from last year.
BC Assessment - Independent, uniform and efficient property assessment
BC Assessment provides current actual value assessments for tax purposes on all properties in British Columbia and provides expertise in real estate data, mass appraisal systems and management.
Vancouver property owners plead for information after duplex burned to the ground
A group of lifelong friends who invested in a property in an effort to enter the competitive Vancouver real estate market, are pleading with the public for information after it was burnt down.
Property assessment notices in the mail as B.C. sees values increase again
Property assessments totalling trillions of dollars are in the mail – and despite B.C.'s real estate market dragging in recent months, homeowners are likely to see values rise.
B.C. homebuyers now have 3-day cooling off period to change their minds
Most homebuyers in British Columbia now have three business days to think about their purchase, allowing them to back out if they can’t secure financing or arrange a home inspection – or even if they just get cold feet.
One more interest rate hike expected: Challenging economic times ahead in 2023
Just about everyone notices. Groceries are more, and so is the interest on any debt. Just about everything has gone up except wages.
Its two homes in my neighborhood for lease. Theyve been on the market for months. Big nice homes too and actually one had a hard time leasing before price increases. There are also 2 homes for sale that have been on the market for almost 6 months probably.
Yeah - they've been keeping a close eye on the GVRD in recent years. Ensuring data is up to date with the Empty Homes Tax and such.
People were getting tired of seeing properties bought up and left vacant.
Bitch better leave us Fed workers the hell be. Folk always throwing shade at Fed employeesDC mayor calls on Biden to end federal work-from-home or create affordable housing
The federal government owns or leases one-third of Washington office space.
ByBeatrice Peterson
January 2, 2023, 1:19 PM
DC mayor calls on Biden to end federal work-from-home or create affordable housing
DC Mayor Muriel Bowser called on President Joe Biden to end federal work-from-home or give up government office space to help create affordable housing.
Since the rise of work-from-home during the COVID-19 pandemic, Washington is among many American cities that have wrestled with vacant office space while simultaneously battling a lack of affordable housing.
On Monday, Washington Mayor Muriel Bowser called on President Joe Biden to either end work-from-home telework policies for federal government employees or turn over vacant government buildings in the nation's capital for housing in a new push to move 100,000 new residents into the city.
The federal government accounts for one-third of properties owned or leased in Washington and a quarter of the city's pre-pandemic jobs.
The city is utilizing tax breaks to encourage the conversion of vacant office buildings as a solution to the lack of housing but Bowser says Biden needs to help.
"We need decisive action by the White House to either get most federal workers back to the office, most of the time, or to realign their vast property holdings for use by the local government, by nonprofits, by businesses and by any user willing to revitalize it," she said.
Bowser notes that currently 25,000 people currently call downtown D.C. home. She says the city will "add 15,000 residents over the next five years and 87,000 more before it's all said and done." Currently, 92% of the central business district consists of commercial space, residential space only accounts for 8%. That's according to Bowser's Housing in Downtown Abatement Program, which the mayor's office seeks to encourage a rise in new residential conversion projects.
CBRE, a global commercial real estate company that has studied office conversions, notes that only 218 office conversions were completed in the U.S. between 2016 to 2021 an average of 36 conversions a year. However, by early December 2022, CBRE says 42 buildings had been converted within the last year. Boston leads the market with 38 building conversions, San Francisco Peninsula with 28, and D.C. and Los Angeles were tied for third with 11 building conversions each. Many of the cities that out-ranked D.C., unlike Washington, don't have to negotiate with the federal government as a landlord.
In December, in an effort to promote a reimagined downtown, Mayor Bowser announced the conversion of the old Vanguard building that headquartered the Peace Corps for decades. The building will be converted to the Elle Apartments and is expected to add 163 residential units when it opens in May 2024.
Bowser said in December, "We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play."
Deputy Mayor John Falcicchio said in December that the city's downtown reimagination strategy has three key points: "Change the space, fill the space, and bring the people."
Falcicchio added, "creating new housing in downtown will lead to a more vibrant neighborhood and a 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities."
D.C., which has over 20 million square feet of vacant office space, hopes that the Housing in Downtown Abatement Program will incentivize future residential transformations by offering tax relief to buildings that include at least 15% of total units to be affordable to 60% of people who qualify for the median family income threshold, which is $103,200 for a four-person family.
Bower's historic third term as the first Black woman mayor to serve three consecutive four-year terms will be met by a new Congress and new GOP leadership. Despite D.C.'s lack of statehood, Bowser is vowing to continue to fight for Washington's autonomy. At her swearing-in Monday, she noted, "as this new Congress starts, I promise to keep fighting for control over everything that we need in the district, protecting our bodily autonomy, the ability to tax and regulate our businesses, and to provide services to our justice-involved youth."
The Office of Personnel Management, the chief human resources agency for the federal government, did not immediately respond to an ABC News request for comment.
Mayor Muriel Bower delivers remarks at the Legacy Leadership Luncheon & Awards during National Urban League Conference, July 22, 2022, in Washington, D.C
If people are looking to buy now, they better lock in those rates before the Fed meets.
DC mayor calls on Biden to end federal work-from-home or create affordable housing
The federal government owns or leases one-third of Washington office space.
ByBeatrice Peterson
January 2, 2023, 1:19 PM
DC mayor calls on Biden to end federal work-from-home or create affordable housing
DC Mayor Muriel Bowser called on President Joe Biden to end federal work-from-home or give up government office space to help create affordable housing.
Since the rise of work-from-home during the COVID-19 pandemic, Washington is among many American cities that have wrestled with vacant office space while simultaneously battling a lack of affordable housing.
On Monday, Washington Mayor Muriel Bowser called on President Joe Biden to either end work-from-home telework policies for federal government employees or turn over vacant government buildings in the nation's capital for housing in a new push to move 100,000 new residents into the city.
The federal government accounts for one-third of properties owned or leased in Washington and a quarter of the city's pre-pandemic jobs.
The city is utilizing tax breaks to encourage the conversion of vacant office buildings as a solution to the lack of housing but Bowser says Biden needs to help.
"We need decisive action by the White House to either get most federal workers back to the office, most of the time, or to realign their vast property holdings for use by the local government, by nonprofits, by businesses and by any user willing to revitalize it," she said.
Bowser notes that currently 25,000 people currently call downtown D.C. home. She says the city will "add 15,000 residents over the next five years and 87,000 more before it's all said and done." Currently, 92% of the central business district consists of commercial space, residential space only accounts for 8%. That's according to Bowser's Housing in Downtown Abatement Program, which the mayor's office seeks to encourage a rise in new residential conversion projects.
CBRE, a global commercial real estate company that has studied office conversions, notes that only 218 office conversions were completed in the U.S. between 2016 to 2021 an average of 36 conversions a year. However, by early December 2022, CBRE says 42 buildings had been converted within the last year. Boston leads the market with 38 building conversions, San Francisco Peninsula with 28, and D.C. and Los Angeles were tied for third with 11 building conversions each. Many of the cities that out-ranked D.C., unlike Washington, don't have to negotiate with the federal government as a landlord.
In December, in an effort to promote a reimagined downtown, Mayor Bowser announced the conversion of the old Vanguard building that headquartered the Peace Corps for decades. The building will be converted to the Elle Apartments and is expected to add 163 residential units when it opens in May 2024.
Bowser said in December, "We have seen how mixed-use communities are more resilient in the face of adversity. By converting vacant offices into homes, we can put these spaces back to productive use, add much-needed housing, and create a vibrant downtown where people live, work, and play."
Deputy Mayor John Falcicchio said in December that the city's downtown reimagination strategy has three key points: "Change the space, fill the space, and bring the people."
Falcicchio added, "creating new housing in downtown will lead to a more vibrant neighborhood and a 24/7 economy. The Housing in Downtown Abatement Program will incentivize more conversions, and bring about more housing affordability and retail opportunities."
D.C., which has over 20 million square feet of vacant office space, hopes that the Housing in Downtown Abatement Program will incentivize future residential transformations by offering tax relief to buildings that include at least 15% of total units to be affordable to 60% of people who qualify for the median family income threshold, which is $103,200 for a four-person family.
Bower's historic third term as the first Black woman mayor to serve three consecutive four-year terms will be met by a new Congress and new GOP leadership. Despite D.C.'s lack of statehood, Bowser is vowing to continue to fight for Washington's autonomy. At her swearing-in Monday, she noted, "as this new Congress starts, I promise to keep fighting for control over everything that we need in the district, protecting our bodily autonomy, the ability to tax and regulate our businesses, and to provide services to our justice-involved youth."
The Office of Personnel Management, the chief human resources agency for the federal government, did not immediately respond to an ABC News request for comment.
Mayor Muriel Bower delivers remarks at the Legacy Leadership Luncheon & Awards during National Urban League Conference, July 22, 2022, in Washington, D.C
The smart thing that these large metropolitan cities should do with these vacant properties is convert them to mix use properties, especially with high rises.
A high rise residential building can have a set number of floors at the bottom for commercial/retail like a small market, barber/beauty salons, restaurants, etc.
The next level floors have residential apts and condos.
The top floors will be office space.
Folks living in the building can easily work in the building by going upstairs/downstairs.
A childcare facility can also be put into the building.
Folks need to start thinking outside the box going forward.
Just like living on a farm went away at the start of the 20th century when folks relocated to the cities.
That style of living is going to have to adjust for the 21st century.
20th century living along with labor is changing.
One reason is too many foregin investors are overpaying for houses for the sole purpose of laundering money.
Location I guess does matter (as you mentioned Florida)... and also what you're looking for matters and how much you're looking to come outta pocket. I'm in central NJ and my townhome HOA (which yeah, I do hate) is only $295; up from I can't really remember, but let's say $205 when I moved in back in 2007. Zero ammenities, so I think why it's that "low" (don't feel low, but I know others pay way more).
I did they math and using the current fee, 16 years comes out to like $56,640. During that time we did get a new roof, and the fee also covers structural insurance (if the place burns down, it gets rebuilt to what it was when the development went up... gotta get extra insurance for additions/improvements). It'll cover the siding when they do that this summer or the year after too. I'd gladly cut what little lawn I have and shovel my own snow (they can keep plowing the roads) to pay a few bucks less, but it is what it is.
The home prices have gone up considerably during the recent real estate boom, but yeah, not as much as single family homes; although I paid way way less to begin with too; so the key is don't buy during real estate booms, cause I remember seeing what people paid in 2006 and then seeing what their places were worth during the great recession (townhomes and single fam homes) and thinking damn, that sucks bad.
My place is a five minute walk from NJ Transit train, 50 min to Manhattan, so that has always been a big selling point, and in the past probably made this particular area a little healthier sales price wise than some other places, but of course during the shutdown period, and even after, with less people going into the office, that factor, while still there, isn't gonna matter as much.
...but for single men/women and new couples buying their first place, it seems like a decent deal. Less $$$ to buy initially, and if you can wait out recessions/busts, pretty decent profits when you sell.
For me the worst part of the townhome thing is trying to get stuff done like cement work for my back patio. That's the HOA's responsibility, but they have been using covid era supply chain thing for an excuse to not do it over the past 3 years. I'd rather just find my own people and get it done myself, but... rules....
Me personally though... I just fucking hate being a home owner. Property taxes for a childless person....
.... I get the whole social contract thing, but damn, why am I paying the same or nearly the same as the couple next door to me that has 2 kids in the school system? The shit is due on Feb 1st, so I'm already pissed off 
.
I did they math and using the current fee, 16 years comes out to like $56,640. During that time we did get a new roof, and the fee also covers structural insurance (if the place burns down, it gets rebuilt to what it was when the development went up... gotta get extra insurance for additions/improvements). It'll cover the siding when they do that this summer or the year after too. I'd gladly cut what little lawn I have and shovel my own snow (they can keep plowing the roads) to pay a few bucks less, but it is what it is.
The home prices have gone up considerably during the recent real estate boom, but yeah, not as much as single family homes; although I paid way way less to begin with too; so the key is don't buy during real estate booms, cause I remember seeing what people paid in 2006 and then seeing what their places were worth during the great recession (townhomes and single fam homes) and thinking damn, that sucks bad.
My place is a five minute walk from NJ Transit train, 50 min to Manhattan, so that has always been a big selling point, and in the past probably made this particular area a little healthier sales price wise than some other places, but of course during the shutdown period, and even after, with less people going into the office, that factor, while still there, isn't gonna matter as much.
...but for single men/women and new couples buying their first place, it seems like a decent deal. Less $$$ to buy initially, and if you can wait out recessions/busts, pretty decent profits when you sell.
For me the worst part of the townhome thing is trying to get stuff done like cement work for my back patio. That's the HOA's responsibility, but they have been using covid era supply chain thing for an excuse to not do it over the past 3 years. I'd rather just find my own people and get it done myself, but... rules....
Me personally though... I just fucking hate being a home owner. Property taxes for a childless person....
.... I get the whole social contract thing, but damn, why am I paying the same or nearly the same as the couple next door to me that has 2 kids in the school system? The shit is due on Feb 1st, so I'm already pissed off .
Delivering new Metro Vancouver rentals now ‘next to impossible’
Changes will be needed in 2023 to accommodate high costs, interest rates and competitive government programs to meet immigration and housing targets, builders say
www.westerninvestor.com