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Homebuyers need to earn 80% more than they did in 2020 to afford a home in today's market
(finance.yahoo.com)
this post was submitted on 30 Mar 2024
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Economics
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I care about it. I hate newer homes that have a tiny strip of grass around them and windows that look right into the neighbor's windows or at their wall which is 3 feet away. I recognize that everyone has different things that are important to them, but for me, having outdoor space that is my own is important. I enjoy growing my own fruits and vegetables, creating attractive landscaping, throwing a ball around with the dog, sitting in the sunshine with my wife. There are so many activities that I need to feel comfortable and at home that I can't participate in modern homes. The builders are buying up older houses, splitting the lots into 2-4 parcels, and building houses that extend to the end of the respective property, and I hate it.
Absolutely agree. Our current house sits on a 1/3 acre lot, and the back of our property is a creek and some trees between the houses on our street and the street behind us. In summer we can barely even see the houses from our back deck. We also have large dogs, so having plenty of yard space to play is paramount. And this house is 5 minutes from the highway in a major metro. That said, we're both very ready to move because the house itself is no longer to our liking. Yes it was a great step up from an apartment, however as our lives have changed, so has what we want in a living space.
The thing that keeps us here is the lot itself. I sat outside listening to and watching the wildlife scamper through the trees, the birds singing, our pair of barred owls calling to each other... The thought of giving that up for a yard the size of a postage stamp and neighbors so close I can smell their dinner cooking does not appeal. I'm sure at some point we'll have to make the choice, but for the moment I'm taking the yard.
That sounds amazing! What a perfect property. We just moved an hour outside of town ourselves, so that we could get some property and space to call our own. Anything in town with property was over a million dollars. Out here in the mountains it's affordable, and beautiful. The loss of convenience was a sacrifice for sure, but we think it's totally worth it. Our backyard is adjacent to a forest, and there's a large river 5 minutes from the house. People come up here on the weekends to enjoy the scenery, and we live it every day. We feel truly blessed.
Why can’t you do these things in the backyard of a townhome?
In the area I live most townhomes don't have backyards, they have little patios. Even newer single family homes don't have enough room in their "yards". There's a small strip of grass, and a small concrete deck, and that's it.