House as shelter

[newguy88]

Originally Posted by Want2retire

I wonder why houses in rural Pennsylvania are so cheap? I have noticed that before, online. I have never been to PA, though. You'd think that speculators would be snapping those up right and left since somebody would surely want to live in a place that cheap. (Good thing I'm not a real estate speculator, because obviously I would not be any good at it! LOL)

You can purchase an entire block for 60K of the type Posted in Mahnoy City. A real depressed area. Not much happening.
Old coal areas.

[aenlighten]

Amortization and secondary housing markets were established in the 30s. The 40s brought some notable inflation but also rent control in some cities. The great inflation of the 70s increased prices hugely. Increased population densities in large urban areas and boomer household formation in the 70s and 80s produced sizable real returns in housing. Declining real interests rates since have boosted asset prices. In middle America, the value is little more than inflation. On the coasts though, land value is greater than structural value due to the congestion of such populated areas.

[Moemg]

Originally Posted by newguy888

It became the equity cash cow because salary increases have not kept up with the real inflation, like energy costs. In addition the run up in home prices made people decide hey I WANT THAT NEW CAR, I want that nice big screen TV I want that vacation and were able to do it by taking out lines of credit on their homes. A Big Mistake.

Hey get a look at this place..


$9,500
4 Bed, 1 Bath
1,534 Sq. Ft.
0.02 Acres
MAHANOY CITY, PA 17948

Single Family Property, Approximately 0.02 acre(s), Year Built: 1913, Waterfront property, Two and a half story, Basement, Dining room ... View details. FIRST SOURCE PROPERTIES

I grew up in the town next to Mahanoy City ,Frackville,Pa. They are small depressed coal towns in Pa. and waterfront means near the creek.

[LeatherneckPA]

Originally Posted by ScooterGuy

I still rember the books of Ken Kern, writing practically about the Owner-Built House....My house is worth more than your house ... neener, neener, neener!

As soon as I get home I'm going Amazon this author. Thanks.

I always wanted to know how to spell "neener, neener, neener". It has so many uses.

[packrat44]

Originally Posted by ScooterGuy

Despite being older than the hippie & counter-culture generation (I was born in 1942), I still rember the books of Ken Kern, writing practically about the Owner-Built House.

Originally Posted by lthrnckpa

As soon as I get home I'm going Amazon this author. Thanks.

I have purchased and found the following books extremely helpful for someone serious about building there own house:

Before You Build by Robert Roskind
Building Your Own House by Robert Roskind
Building Your Own House II by Robert Roskind
Practical Housebuilding by Frank Jackson

[HFWR]

Originally Posted by lthrnckpa

I always wanted to know how to spell "neener, neener, neener". It has so many uses.

Text is so last millenium...

[cantlogin]

Here's one in Shenandoah!

REALTOR.com: Find a Home - Listing Detail

[Want2retire]

Originally Posted by cantlogin

Here's one in Shenandoah!

REALTOR.com: Find a Home - Listing Detail

Absolutely amazing!!!

[haha]

Originally Posted by lazygood4nothinbum

does the rise of cost curve take into account population increases and land availability decreases or does it just look at what things should cost now were population and land availability to remain constant?

I agree. Once a country gets built out to a certain degree, housing prices should increase faster than CPI. There are more constraints on supply, and demand continues to increase. Also issues like crime and school quality keep forcing more and more people to try to crowd into certain neighborhoods, so there is definitely a scarcity factor.

But this should also apply to rentals, so I don't think purchased home prices should get so far ahead of rental prices.

Ha