Anonymous wrote:Anonymous wrote:There must have been some pretty well paid maids back in the 70s. Federal minimum wage in 1973 was $1.60/hour and a basic house in Arlington cost at least $40,000. Maybe if you go back to the Roosevelt years it was different but in my lifetime and my parents' lifetimes real estate in the DC area was never really cheap. The people who like to brag about their amazing real estate deals usually bought houses in former no-go zones like Logan Circle.
People worked multiple jobs back then unlike today’s lazybones. My father in law I recall got married at 21 to a 19 year old. She spoke no English he only HS degree.
They moved in as tenant upstairs elderly women with very cheap rent in return fur doing all maint on house, mowing, snow shoveling, groceries and lived in the upstairs for 7 years while saving. He worked two jobs and wife also was a seamstress. After 7 years of saving they bought a house with two “boarders” meaning two guys lived there in bedrooms and meals were included it so between that rent and dads two jobs they were able after six more years take over while house when third kid was burn.
Today that starter house is worth $650k they still have it. It is a lot cheaper today. I hardly recall folks having to do what they did.
Anonymous wrote:My family is much like the maid in the OP. Middle-school educations, came to US in the early 1970s. All bought houses throughout the 1970s and 1980s, are now multi-home owning landlords. Here is how they did it.
1. They WORKED. I don't mean just a single job. Watergate maid was likely doing housekeeping work for other families who (key point) paid her under the table. My family was in various businesses - restaurant, construction, painting. The key thing is that they all ran cash businesses and they worked from 7am to 11pm, 6 days a week.
2. They spent VERY LITTLE MONEY. Think beans and rice, heat set to frozen, cold water showers. No cable TV, no dinners out, no health insurance and no doctors visits unless you were literally dying. Kids activities? LOL. Kids activities was having us join them at their jobs.
Housing now is more expensive relative to wages, yes. But you are still seeing immigrant families buying property, even in many close-in neighborhoods. This is how they do it. They live very spartan existences and work crazy hours. My 9-5 work life is a true luxury. My parents worked their *sses off so that I can experience it!
Anonymous wrote:Anonymous wrote:Anonymous wrote:Hispanic are buying houses in DMV their their landscaping or maid income. Many of them own houses in Rockville, SS, Gaithurberg. 20-30 years from now,, the value of their houses will double$ or triple.
Do they pay taxes on their income or they work under the table?
I don't know (not that pp) but the hispanic families who own in my neighborhood usually have several adults living in the house and they all park their work trucks on the street. I mean, there is enough room and they don't cause any issues yet. Seems like adult kids and other adult relatives live with them and they all pool together to afford the house.
My white relatives did this during the great depression. Had three generations living together: grandparents, three uncles, and one aunt, her dh and kids. Same kind of thing.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Hispanic are buying houses in DMV their their landscaping or maid income. Many of them own houses in Rockville, SS, Gaithurberg. 20-30 years from now,, the value of their houses will double$ or triple.
Do they pay taxes on their income or they work under the table?
I don't know (not that pp) but the hispanic families who own in my neighborhood usually have several adults living in the house and they all park their work trucks on the street. I mean, there is enough room and they don't cause any issues yet. Seems like adult kids and other adult relatives live with them and they all pool together to afford the house.
My white relatives did this during the great depression. Had three generations living together: grandparents, three uncles, and one aunt, her dh and kids. Same kind of thing.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Days like that will not come back. America's population increased about 50% since 1970. In the meantime, we don't have any additional land, especially in the DC area.
Agree with this.
The US population has increased dramatically. Land is in short supply.
Also, add in that the US has seen an increase in real estate investment from people overseas. People in other countries are buying up properties here in the US, which jacks up the prices for everyone (larger market).
‘Running out of land’ is a cliche that appears during bubbles.
So you think the fact that the population is much larger now has nothing to do with the cost of housing? Okay.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Hispanic are buying houses in DMV their their landscaping or maid income. Many of them own houses in Rockville, SS, Gaithurberg. 20-30 years from now,, the value of their houses will double$ or triple.
Do they pay taxes on their income or they work under the table?
I don't know (not that pp) but the hispanic families who own in my neighborhood usually have several adults living in the house and they all park their work trucks on the street. I mean, there is enough room and they don't cause any issues yet. Seems like adult kids and other adult relatives live with them and they all pool together to afford the house.
My white relatives did this during the great depression. Had three generations living together: grandparents, three uncles, and one aunt, her dh and kids. Same kind of thing.
Anonymous wrote:Anonymous wrote:Hispanic are buying houses in DMV their their landscaping or maid income. Many of them own houses in Rockville, SS, Gaithurberg. 20-30 years from now,, the value of their houses will double$ or triple.
Do they pay taxes on their income or they work under the table?
Anonymous wrote:Hispanic are buying houses in DMV their their landscaping or maid income. Many of them own houses in Rockville, SS, Gaithurberg. 20-30 years from now,, the value of their houses will double$ or triple.
Anonymous wrote:OP, yes, these days will return. But it takes political action to push upzoning in Arlington and surrounding areas. Lobby to allow much more dense urban infill. 2-4 units per lot instead of 1 SFH now. The tide is changing rapidly but it will be another few years before we're fully there. You won't have a 5k sq ft SFH on a 7k sq ft lot but fewer people want that much space these days anyway, with smaller families.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Days like that will not come back. America's population increased about 50% since 1970. In the meantime, we don't have any additional land, especially in the DC area.
Agree with this.
The US population has increased dramatically. Land is in short supply.
Also, add in that the US has seen an increase in real estate investment from people overseas. People in other countries are buying up properties here in the US, which jacks up the prices for everyone (larger market).
‘Running out of land’ is a cliche that appears during bubbles.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Up in the Baltimore suburbs there's a lot of decent if unremarkable housing in working class suburbs that sell for 250-350. Doable for most people with some discipline, which was always the case for lower income homeowners.
Arlington in the 60s-80s was basic middle class with some working class areas and some upper middle class areas. It was no Chevy Chase.
Even Bethesda in those days was dominated by the fed family household, not dual law firm partners.
Heck. Even Chevy Chase had a lot of modest houses. The real money was in parts of NW. The wealthy monies crowd was much smaller.
DC is a different world altogether these days.
Here are some of the NW DC and Montgomery County delinquents I grew up around and attended school with.
That could have been my graduating class at Laurel High.
Anonymous wrote:Anonymous wrote:Anonymous wrote:Back then you could pay for in state college with a part time job, because tuition was so cheap. You can't do that today.
Wages have not kept pace with the increase in housing costs and tuition costs.
In 1980 my state college tuition was $900 A year. But incomes were very low.
But remember, no iPhones, WiFi, cable, Uber, streaming, Starbucks, fish taco places, nannies, maids, housekeepers, landscapers, nail salons etc unless rich. and interest rates sky high.
There is a lot of wasteful spending today from folks who claim they can’t afford a house
[/b]Give me a break. [b]WiFi and smart phones are now essential for having a job. Many people Uber INSTEAD of buying a car. No one gets cable anymore and streaming instead is cheaper.
The people who have nannies, maids, housekeepers, and landscapers are home owners.
It is an undeniable macroeconomic fact that housing prices and college tuition have skyrocketed while salaries have stagnated. But keep blaming me for the iPhone I upgrade once every 4-5 years.