Genz and millennials don't want your small starter homes want forever homes now

[Anonymous]

Anonymous wrote:Lol, I'd love to be able to afford a "small starter home". We are two working professionals in NW DC and those homes start at $1.5M.

I live in NW but not WOTP in a small house with a family and while there aren't a lot of homes on the market there are absolutely some available for $700-900k. You just won't get anything WOTP.

Takoma: https://www.redfin.com/DC/Washington/6514-7th-Pl-NW-20012/home/10053356

Shepherd Park: https://www.redfin.com/DC/Washington/1209-Floral-St-NW-20012/home/10036580

[Anonymous]

Anonymous wrote:

Anonymous wrote:Lol, I'd love to be able to afford a "small starter home". We are two working professionals in NW DC and those homes start at $1.5M.

I live in NW but not WOTP in a small house with a family and while there aren't a lot of homes on the market there are absolutely some available for $700-900k. You just won't get anything WOTP.

Takoma: https://www.redfin.com/DC/Washington/6514-7th-Pl-NW-20012/home/10053356

Shepherd Park: https://www.redfin.com/DC/Washington/1209-Floral-St-NW-20012/home/10036580

You can find very small houses in Capitol Hill in the 600k range where you can send kids to the DCPS through middle school. But they are VERY small. If you can go up to 900k you can find something bigger.

But … personally I don’t think $900k is a “started home.” without family support most people won’t be able to buy a house that expensive until well into their careers.

For a true starter home you need to go much further out …

[Anonymous]

Anonymous wrote:I don't give a flip what millennials want. So sick of that whiny, entitled generation. Here's hoping they have to rent forever and never get out from under their student loan debt.

Here's hoping you end up squatting in your home until you run out of cash and end up getting sent to some kind of care home nightmare situation, with your kids visiting you never.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lol, I'd love to be able to afford a "small starter home". We are two working professionals in NW DC and those homes start at $1.5M.

I live in NW but not WOTP in a small house with a family and while there aren't a lot of homes on the market there are absolutely some available for $700-900k. You just won't get anything WOTP.

Takoma: https://www.redfin.com/DC/Washington/6514-7th-Pl-NW-20012/home/10053356

Shepherd Park: https://www.redfin.com/DC/Washington/1209-Floral-St-NW-20012/home/10036580

You can find very small houses in Capitol Hill in the 600k range where you can send kids to the DCPS through middle school. But they are VERY small. If you can go up to 900k you can find something bigger.

But … personally I don’t think $900k is a “started home.” without family support most people won’t be able to buy a house that expensive until well into their careers.

For a true starter home you need to go much further out …

I'm not disagreeing with your point but the idea that PP floated that the only homes available are $1.5, even in an area (SP) that feeds to J-R. It's not true. You could also pretty comfortably send kids to the Takoma schools through MS with Wells improving and have walkability.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Lol, I'd love to be able to afford a "small starter home". We are two working professionals in NW DC and those homes start at $1.5M.

I live in NW but not WOTP in a small house with a family and while there aren't a lot of homes on the market there are absolutely some available for $700-900k. You just won't get anything WOTP.

Takoma: https://www.redfin.com/DC/Washington/6514-7th-Pl-NW-20012/home/10053356

Shepherd Park: https://www.redfin.com/DC/Washington/1209-Floral-St-NW-20012/home/10036580

You can find very small houses in Capitol Hill in the 600k range where you can send kids to the DCPS through middle school. But they are VERY small. If you can go up to 900k you can find something bigger.

But … personally I don’t think $900k is a “started home.” without family support most people won’t be able to buy a house that expensive until well into their careers.

For a true starter home you need to go much further out …

I'm not disagreeing with your point but the idea that PP floated that the only homes available are $1.5, even in an area (SP) that feeds to J-R. It's not true. You could also pretty comfortably send kids to the Takoma schools through MS with Wells improving and have walkability.

They are not willing to live in TP because that is beneath them. They are only willing to live in a 1.5M home in NW DC (that they can't afford), so there must be a housing crisis.

[Anonymous]

[Anonymous]

Move out to the burbs! It’s 2025! I’m dying that people think DC or Arlington are an entitlement or even desirable!

[Anonymous]

Aww, maybe they need to grow up? They absolutely can afford a home. We bought a TH, raised our kids in it. School was fine- Niche scores only illuminate the income level of a neighborhood, not really anything to do with the quality of a school. Fabulous community and friends- we lived within our means.
All kids had college paid for. We had a good life, not a lavish life. No European or Caribbean trips, no maids, we couponed, drove 2nd hand cars, socialized with good friends . Long beach weekends. Kids had house birthday parties.

We are not hoarding real estate, money or anything else. We graduated college in a huge recession, lived through many more. We were in public service with public service salaries. Our house interest rates started at 18%, then, 15, 12, up to 14 again, then 12, 8,,6, 4, and finally 2.875. Nothing was handed to us, except one of our used cars.

No, you don’t need a giant house and a Lexus t

[Anonymous]

Why would I want to pay $4k per month for a house that was a "starter home" 50 years ago? Now it is a dump.

[Anonymous]

Anonymous wrote:Why would I want to pay $4k per month for a house that was a "starter home" 50 years ago? Now it is a dump.

You think there is a “housing crisis” because you are not able to afford a brand new single family home in Arlington next to the metro with good schools lol. Thats ridiculous

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why would I want to pay $4k per month for a house that was a "starter home" 50 years ago? Now it is a dump.

You think there is a “housing crisis” because you are not able to afford a brand new single family home in Arlington next to the metro with good schools lol. Thats ridiculous

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why would I want to pay $4k per month for a house that was a "starter home" 50 years ago? Now it is a dump.

You think there is a “housing crisis” because you are not able to afford a brand new single family home in Arlington next to the metro with good schools lol. Thats ridiculous

+1

I have no desire to live in Arlington. I'm just someone who saw a bunch of (detached) houses built in the 1950s and decided to buy a 1990s townhouse instead. You know, the types of development you oppose because you want to keep out the riff raff.

[Anonymous]

Anonymous wrote:Aww, maybe they need to grow up? They absolutely can afford a home. We bought a TH, raised our kids in it. School was fine- Niche scores only illuminate the income level of a neighborhood, not really anything to do with the quality of a school. Fabulous community and friends- we lived within our means.
All kids had college paid for. We had a good life, not a lavish life. No European or Caribbean trips, no maids, we couponed, drove 2nd hand cars, socialized with good friends . Long beach weekends. Kids had house birthday parties.

We are not hoarding real estate, money or anything else. We graduated college in a huge recession, lived through many more. We were in public service with public service salaries. Our house interest rates started at 18%, then, 15, 12, up to 14 again, then 12, 8,,6, 4, and finally 2.875. Nothing was handed to us, except one of our used cars.

No, you don’t need a giant house and a Lexus t

Err and how long ago was this? If you’ve raised your kids I don’t think you’re experiencing the same things young people are.

[Anonymous]

Anonymous wrote:

Are most millennial buyers also looking for a full acre of land? I mean, I get the joke but if you find the listing that house has the largest lot in the entire historic district of Franklin, itself an UMC suburb of Nashville.

It doesn't tell the story you think it tells.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Are most millennial buyers also looking for a full acre of land? I mean, I get the joke but if you find the listing that house has the largest lot in the entire historic district of Franklin, itself an UMC suburb of Nashville.

It doesn't tell the story you think it tells.

Yes, Franklin TN is a very wealthy area. That's like California equivalent of Malibu or that NY equivalent of Scarsdale.