Legit, but dumb question about MoCo (property values & housing)

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP, Elrich is terrible on housing. His position against accessory dwelling units was unforgiveable hypocrisy. Also, housing in Montgomery County is unaffordable because we are not building anywhere near enough housing and because under current zoning, it's illegal in most parts of the county to build the kind of housing that would make housing more affordable. And he supports those policies too.

On the other hand, the stuff you read on DCUM about Elrich is mostly pure bunkum. Half of the posters can't even spell his name right.

So: is Elrich going to make Montgomery County a hellhole, thereby lowering housing costs, thereby making housing more affordable? No.

I'm just going to note two things:

1. there aren't any more yuppies; they were in their 20s & 30s in the 80s, which means (40 years later) that they're now pushing 70.
2. if you moved in with your partner, your combined household income of $140,000 would be 30% higher than the median household income in the county (though student loan debt is an issue, of course).

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and yet, some are convinced that people are moving out of moco in droves.

I have a question for OP.

Let's say at some point, you are able to buy a house in a nice area in MoCo, and eventually, your property value starts to go up to the point where now younger people can't afford to buy a home. Would you want your property value to go down so that these young folks can afford a home in your neighborhood?

I find housing stability more important. I want to own a home so that I don’t have to worry about my landlord taking my place off the market or raising the rent. I just want a forever home, the equity issue is secondary to me. So of course I’d be more concerned win other people having homes than me making money off owning mine.

You are thinking this way because you are not a long time home owner. Once you become one, I guarantee you that you will think differently.

My neighbors are pretty old and very liberal, yet they still care about their home values because they are about to sell soon. They want the neighborhood to be zoned for the "better" neighboring school district (ie, hardly any poor people) so their home values go up.

This will be you in 20 years.

No, in 20 years I will be 50 and possibly with children in school. I would like good schools for all, and the thing I keep hammering at is stability. I don’t want to move. I want to grow roots and stay. I’ve moved around almost every other year for the past ten years and I’m tired. It’s so stressful to always pack up and leave. I’m just want a place with a little yard (so not a huge condominium, but a duplex or triplex is fine) to grow old in. I’m not interested in buying in a place as an investment to sell in the future. I’m just looking to lock down one thing in my life to not have to stress out about.

OP, maybe you’re the unicorn of the group who won’t change their thinking, but most who think like you do and take that path will, at 50, be realizing exactly what options their home equity affords them in retirement. For many, retirement arbitrage means their partially paid off house here will let them pay cash somewhere else.

[Anonymous]

OP what are you asking, exactly? You want to buy a house in a major metro area but feel priced out. You and everybody else, it has nothing to do with Moco politics.

[Anonymous]

Anonymous wrote:
OP, maybe you’re the unicorn of the group who won’t change their thinking, but most who think like you do and take that path will, at 50, be realizing exactly what options their home equity affords them in retirement. For many, retirement arbitrage means their partially paid off house here will let them pay cash somewhere else.

Nah, plenty of people in their 50s are pretty clear that a system that ties a person's housing to a person's ability to pay for being alive in old age, is a stupid system.