TzarKazm

TzarKazm t1_je4wfew wrote

I hear you. For me, it's about 60/40 like/dislike. I feel like maybe a condo would have better suited me, I'm just so tired of things that need to be fixed. Some people are good at living with things that are not quite right, I am not one of those people. Everywhere I look, I see something that could be better, and it stresses me out.

I spent over a hundred thousand fixing this place when I bought it, and I still spend an amount equal to about half my mortgage every year just on upkeep or maintenance.

Not to mention the hundreds of hours I put in a year doing maintenance myself.

It's definitely a lifestyle choice, and it's not for everyone.

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TzarKazm t1_je2o8ne wrote

If you want/need a house now then buy one now. Trying to time the market is kind of a fools game. Some people get it right, but most people get it wrong.

Buying a house is a lifestyle choice, like a car, or a watch, if it's the lifestyle you want and you can afford it then you should do it.

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TzarKazm t1_je02adk wrote

Yea I have had thus conversation more than once with my MIL. "They should ban assault weapons. " "ok, what does that mean?" "You know, the assault ones."

I don't own any guns so I don't have any skin in the game, but it's tough to have a productive discussion when one person has no idea what they even want.

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TzarKazm t1_jcydssp wrote

I think I somewhat answered my own question below. But if the population isn't really growing, we wouldn't have to increase supply. There are less than 50k new people living in RI since 2000. at a household rate of 2.6 people per household according to the census, we would have needed about 20k new houses over 20 years to hold every one of those new households.

Turns out RI lost housing over 20 years. So I guess that's the answer, but the new question is why?

Edi: I might have gotten bad data on units, which leads me back to why an increase in population of less than 5% leads to a cost increase of 50%.

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TzarKazm t1_jcych6y wrote

Leading me down the rabbit hole, thanks!

I found that the number of households has gone from 408,424 in 2020 to 414,730 now. So an increase of less than 1%. Since population has increased 4% there is actually a smaller percentage of households to population now.

What I did find that was interesting in census data is that apparently in 2000 there were 447,810 housing units in Rhode Island. As of January there are 426,769.

So I think I have some of my answer. There is actually less housing now by over 20k units. I guess the following question is why or how did that happen?

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TzarKazm t1_jcy3ouf wrote

Maybe this has been asked before, but what is the long term cause of this? I'm no expert in economics, but maybe someone here is?

Looking at census data, the population of RI has only increased 4.3% since 2000. The price for a home has gone from $133k to $428k. I couldn't find rent data older than 2006 but it was $808 then. It's $1199 for a 1 bedroom now according to https://www.rentdata.org/states/rhode-island/2023

If the population isn't increasing much, and salaries aren't increasing much, where is the money coming from? Air b&b? Are there a ton of empty rentals?

What is driving this market?

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TzarKazm t1_jcvy26c wrote

Reply to comment by 5XTEEM in Saw a Hit and Run by Loveroffinerthings

"Protect and serve " is the motto of the Los Angeles police department. A lot of people think it's THE police motto because it's in a ton of movies and TV shows. Most towns either don't have a motto, or have a different one. Fall River's motto is "we'll try".

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TzarKazm t1_jb4hn9l wrote

They are very nice people, both have degrees, but have a weird relationship with money. They both grew up poor, so they feel like the best plan for money is to spend it fast before it runs out. It sounds crazy because it is, but people don't always really "get" the concept of saving money.

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TzarKazm t1_jb2sc2v wrote

She says "I have a live for now attitude I guess ". That's kind of how you get to 66 and have no savings.

I know way too many people with no plan for retirement, but they drive new cars, take expensive vacations, and just don't worry about the future. Living like that would stress me out.

I actually have a friend who got laid off and got a severance. They decided the best thing to do with that money is to take the kids on a trip to Japan because "they would probably never see that much money again".

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TzarKazm t1_j697bc5 wrote

I'm not sure how I feel about the cameras. I'm mostly on the side of dislike, but I think that has more to do with the implementation, not that cameras should be forbidden. I think there is potential to do it the right way, but I don't really have enough information to make a well informed decision. I definitely don't want fines used as revenue for cities and towns.

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