Gad! House buying today

[Tinhack]

Isn't that the truth. I couldn't afford to buy this place if I had to now. Subdivisions are creeping up all around me (within a couple of miles). Home lots are going for $60-$80k per acre and they're getting it. That's staggering since it used to be about $2k an acre about five years ago. The draw seems to be the "17-minute drive to San Antonio". It won't be that for long if the build-up continues.

Edit: My mistake--That's $60-$80k for a 3/4-acre lot.

 

[NHBX]

If ya need a few xtra bux McD’s pays $20 hr to stuff fries in a bag!

 

[Tinhack]

But “wages are keeping up with inflation”.
I saw that on TV!!!!!

I think you're watching the wrong channels.

 

[tacticalturnip]

Congratulations on living through the Carter administration; can I get you a cookie? Perhaps some milk?

 

[workinonit]

Those property taxes are ridiculous. I sure am glad I live where I do.

 

[paulsharvey]

Those property taxes are ridiculous. I sure am glad I live where I do.

So, that's the dark side people dont talk about when they say we are lucky to not pay state income taxes. Florida has aggressive property taxes; Tennessee has an extremely high sales tax, 9.75%, don't know about the other ones; but as much as we hate to admit it, the state/county does have to college revenue some how.

 

[Tinhack]

If ya need a few xtra bux McD’s pays $20 hr to stuff fries in a bag!

Not around here. They use machines now.

 

[Hay Dude]

In my area, property taxes border on obscene. The game here is to find 10+ acres to get an “ACT 515/319” land tax assessment , but these small farms are overpriced, out of reach for most of us, so the up-front purchase price wipes out the future tax savings in most cases.

The very-rich get the lower taxed farms, yet most know little to nothing about farming.

 

[Hay Dude]

I told my 24 YO son to stay with us and save for a DP on his 1st house. He’s already saved quite a bit in his first year since graduation, but has a way to go.

 

[LittleBittyBigJohn]

I just lived this exercise. We quoted the house in late 2020 and almost pulled the trigger. Wanted to wait and see if materials would come down.... Finally built it and just moved in a few months ago. In the time we waited, the cost increased by almost $120,000 and interest took a hit too. We were able to lock in at 6.25%.

We were blessed though in that both my wife and I got promotions and higher salaries with them in that same timeframe.