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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
Noble American
()
Date: January 11, 2019 01:51PM
What tends to happen to current residence of a city when prices go up is they are "priced out" of their home. This does irreparable financial damage to the household and to the area itself. There should be a price cap on homes in the area to compensate for Amazon's impending move which will assuredly raise living costs astronomically. Current residents living in rented homes should not see rent increase. They should have their prices locked in at their current rates so as to prevent them from having to move.
Home prices should be capped to a certain amount, depending on number of rooms, bathrooms and square feet. It's absurd to see these cookie cutter town homes in Arlington going for upwards of $800K. Homes like that should not cost more than 5-600K.
Anyone who could lose revenue because of this will be compensated by a tax break at the end of the FY.
Home prices should be capped to a certain amount, depending on number of rooms, bathrooms and square feet. It's absurd to see these cookie cutter town homes in Arlington going for upwards of $800K. Homes like that should not cost more than 5-600K.
Anyone who could lose revenue because of this will be compensated by a tax break at the end of the FY.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
What a libtard
()
Date: January 11, 2019 01:56PM
Libtards hate capitalism and the free market system.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
6mpph
()
Date: January 11, 2019 02:22PM
Looks like a lot of not so rich folks will be soon forced to move out to
Winchester, Charlottesville, or West Virginia and take advantage of the more reasonable prices 50 - 100 miles away from their jobs. I worked with someone who commuted from Charlottesville 4 days a week, so it can be done.
Check out housing prices in the cities that Amazon now occupies at their headquarters to get an idea of what you might be faced with here. Also prices in the stores. Lots of people will have to be renting out rooms in their houses.
Winchester, Charlottesville, or West Virginia and take advantage of the more reasonable prices 50 - 100 miles away from their jobs. I worked with someone who commuted from Charlottesville 4 days a week, so it can be done.
Check out housing prices in the cities that Amazon now occupies at their headquarters to get an idea of what you might be faced with here. Also prices in the stores. Lots of people will have to be renting out rooms in their houses.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
OP is a dumb lib
()
Date: January 11, 2019 02:25PM
Priced out of their own home? If they own their home that's money in their pocket, property taxes rates are pretty low around here too. I'll take the high appreciation and higher property taxes any day. If all you can afford is $600k take your ass to South Arlington or Fairfax Co.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
Not Gonna Happen
()
Date: January 11, 2019 02:32PM
Noble American Wrote:
-------------------------------------------------------
> What tends to happen to current residence of a
> city when prices go up is they are "priced out" of
> their home. This does irreparable financial damage
> to the household and to the area itself. There
> should be a price cap on homes in the area to
> compensate for Amazon's impending move which will
> assuredly raise living costs astronomically.
> Current residents living in rented homes should
> not see rent increase. They should have their
> prices locked in at their current rates so as to
> prevent them from having to move.
>
> Home prices should be capped to a certain amount,
> depending on number of rooms, bathrooms and square
> feet. It's absurd to see these cookie cutter town
> homes in Arlington going for upwards of $800K.
> Homes like that should not cost more than 5-600K.
>
>
> Anyone who could lose revenue because of this will
> be compensated by a tax break at the end of the
> FY.
HAHAHAHAHA! And if you’re a Trumptard, WAAAAHHHH!
Signed,
Rich liberal homeowner and landlord
-------------------------------------------------------
> What tends to happen to current residence of a
> city when prices go up is they are "priced out" of
> their home. This does irreparable financial damage
> to the household and to the area itself. There
> should be a price cap on homes in the area to
> compensate for Amazon's impending move which will
> assuredly raise living costs astronomically.
> Current residents living in rented homes should
> not see rent increase. They should have their
> prices locked in at their current rates so as to
> prevent them from having to move.
>
> Home prices should be capped to a certain amount,
> depending on number of rooms, bathrooms and square
> feet. It's absurd to see these cookie cutter town
> homes in Arlington going for upwards of $800K.
> Homes like that should not cost more than 5-600K.
>
>
> Anyone who could lose revenue because of this will
> be compensated by a tax break at the end of the
> FY.
HAHAHAHAHA! And if you’re a Trumptard, WAAAAHHHH!
Signed,
Rich liberal homeowner and landlord
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
Blue-America
()
Date: January 11, 2019 02:43PM
I say this as a liberal owner of many homes in the area and someone who understands basic economics. Such price caps don't do what they are implemented to do. When you try to manipulate the housing market, all kinds of irregularities take place. If you want to be able to afford to live in the area, you need to get a job(s) that allow you to live in the area. That and get an education.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
lil thing
()
Date: January 11, 2019 03:04PM
sorry too late - have you seen the prices along the Wilson Blvd corridor in Arlington. I rented a house there (Clarendon) in the 80's for $600.00 per month. You could by a house in arlington (Clarendon) for 130k. Today renting a house is 5k month and the same house to buy would be 1.2 million. Nothing but the wealthy there now. You need a minimum household income of 300k to live anywhere near arlington.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
ArlNOW
()
Date: January 11, 2019 03:07PM
lil thing Wrote:
-------------------------------------------------------
> sorry too late - have you seen the prices along
> the Wilson Blvd corridor in Arlington. I rented a
> house there (Clarendon) in the 80's for $600.00
> per month. You could by a house in arlington
> (Clarendon) for 130k. Today renting a house is 5k
> month and the same house to buy would be 1.2
> million. Nothing but the wealthy there now. You
> need a minimum household income of 300k to live
> anywhere near arlington.
Funny,
My wife & I own a 4 bedroom home in North Arlington and make no where near 300K. It can be done, Just don't live beyond your means.
-------------------------------------------------------
> sorry too late - have you seen the prices along
> the Wilson Blvd corridor in Arlington. I rented a
> house there (Clarendon) in the 80's for $600.00
> per month. You could by a house in arlington
> (Clarendon) for 130k. Today renting a house is 5k
> month and the same house to buy would be 1.2
> million. Nothing but the wealthy there now. You
> need a minimum household income of 300k to live
> anywhere near arlington.
Funny,
My wife & I own a 4 bedroom home in North Arlington and make no where near 300K. It can be done, Just don't live beyond your means.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
save and invest
()
Date: January 11, 2019 04:24PM
lil thing Wrote:
-------------------------------------------------------
> sorry too late - have you seen the prices along
> the Wilson Blvd corridor in Arlington. I rented a
> house there (Clarendon) in the 80's for $600.00
> per month. You could by a house in arlington
> (Clarendon) for 130k. Today renting a house is 5k
> month and the same house to buy would be 1.2
> million. Nothing but the wealthy there now. You
> need a minimum household income of 300k to live
> anywhere near arlington.
You don't just buy a $1.2M starter home, people buying those homes have lots of equity in their old homes so putting down 20% is not a problem. If you have lived in your home for 10 years plus and make decent money (200k+ HHI) you should have no problem putting down at least 20% and probably a lot more. I'm pretty conservative so I put down enough to qualify for a regular loan instead of a jumbo. Saved up $200k and had $300k in equity from the prior home. 30 year fixed rate mortgage with the low rates we have had for the past 10 years makes the payments very reasonable.
-------------------------------------------------------
> sorry too late - have you seen the prices along
> the Wilson Blvd corridor in Arlington. I rented a
> house there (Clarendon) in the 80's for $600.00
> per month. You could by a house in arlington
> (Clarendon) for 130k. Today renting a house is 5k
> month and the same house to buy would be 1.2
> million. Nothing but the wealthy there now. You
> need a minimum household income of 300k to live
> anywhere near arlington.
You don't just buy a $1.2M starter home, people buying those homes have lots of equity in their old homes so putting down 20% is not a problem. If you have lived in your home for 10 years plus and make decent money (200k+ HHI) you should have no problem putting down at least 20% and probably a lot more. I'm pretty conservative so I put down enough to qualify for a regular loan instead of a jumbo. Saved up $200k and had $300k in equity from the prior home. 30 year fixed rate mortgage with the low rates we have had for the past 10 years makes the payments very reasonable.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
movin on up
()
Date: January 11, 2019 04:28PM
save and invest Wrote:
-------------------------------------------------------
> lil thing Wrote:
> --------------------------------------------------
> -----
> > sorry too late - have you seen the prices along
> > the Wilson Blvd corridor in Arlington. I rented
> a
> > house there (Clarendon) in the 80's for $600.00
> > per month. You could by a house in arlington
> > (Clarendon) for 130k. Today renting a house is
> 5k
> > month and the same house to buy would be 1.2
> > million. Nothing but the wealthy there now.
> You
> > need a minimum household income of 300k to
> live
> > anywhere near arlington.
>
>
> You don't just buy a $1.2M starter home, people
> buying those homes have lots of equity in their
> old homes so putting down 20% is not a problem. If
> you have lived in your home for 10 years plus and
> make decent money (200k+ HHI) you should have no
> problem putting down at least 20% and probably a
> lot more. I'm pretty conservative so I put down
> enough to qualify for a regular loan instead of a
> jumbo. Saved up $200k and had $300k in equity from
> the prior home. 30 year fixed rate mortgage with
> the low rates we have had for the past 10 years
> makes the payments very reasonable.
Excellent point. 9/10 people living in places like Arlington bought a starter home home somewhere cheaper like Gainesville or Burke and moved out to more expensive burbs once enough was saved up and use the equity in their old home to pay off the new home.
-------------------------------------------------------
> lil thing Wrote:
> --------------------------------------------------
> -----
> > sorry too late - have you seen the prices along
> > the Wilson Blvd corridor in Arlington. I rented
> a
> > house there (Clarendon) in the 80's for $600.00
> > per month. You could by a house in arlington
> > (Clarendon) for 130k. Today renting a house is
> 5k
> > month and the same house to buy would be 1.2
> > million. Nothing but the wealthy there now.
> You
> > need a minimum household income of 300k to
> live
> > anywhere near arlington.
>
>
> You don't just buy a $1.2M starter home, people
> buying those homes have lots of equity in their
> old homes so putting down 20% is not a problem. If
> you have lived in your home for 10 years plus and
> make decent money (200k+ HHI) you should have no
> problem putting down at least 20% and probably a
> lot more. I'm pretty conservative so I put down
> enough to qualify for a regular loan instead of a
> jumbo. Saved up $200k and had $300k in equity from
> the prior home. 30 year fixed rate mortgage with
> the low rates we have had for the past 10 years
> makes the payments very reasonable.
Excellent point. 9/10 people living in places like Arlington bought a starter home home somewhere cheaper like Gainesville or Burke and moved out to more expensive burbs once enough was saved up and use the equity in their old home to pay off the new home.
Re: There should be a price cap on housing costs to prevent people from being priced out in wake of Amazon move
Posted by:
Gerrytarderrer2
()
Date: January 11, 2019 04:42PM
Blue-America Wrote:
-------------------------------------------------------
> I say this as a liberal owner of many homes in the
> area and someone who understands basic economics.
> Such price caps don't do what they are implemented
> to do. When you try to manipulate the housing
> market, all kinds of irregularities take place. If
> you want to be able to afford to live in the area,
> you need to get a job(s) that allow you to live in
> the area. That and get an education.
You mean like rent control?
-------------------------------------------------------
> I say this as a liberal owner of many homes in the
> area and someone who understands basic economics.
> Such price caps don't do what they are implemented
> to do. When you try to manipulate the housing
> market, all kinds of irregularities take place. If
> you want to be able to afford to live in the area,
> you need to get a job(s) that allow you to live in
> the area. That and get an education.
You mean like rent control?