Where to live after ER Why?

[daylatedollarshort]

I don't know where you live but it didn't drop where we were. In fact my tenant was a CEO or general manager of a mid size company, he has relocated from NJ and expected it to drop but it didn't, he rented 6-7 years and finally decided it was time to buy. It did drop 20% during the dot com burst though.

According to this article only a handful of the most expensive cities did not see a price decline in 2008 -

http://www.bizjournals.com/sanjose/stories/2008/08/11/daily24.html

In 2008 many of our neighbors were long time residents and did not have underwater mortgages or any mortgage at all. Many were retired. As those owners downsize or die off, they are getting replaced with two income young professionals. The next tech or housing bust may have a different and bigger impact on our neighborhood next time around.

 

[Fedup]

According to this article only a handful of the most expensive cities did not see a price decline in 2008 -

http://www.bizjournals.com/sanjose/stories/2008/08/11/daily24.html

In 2008 many of our neighbors were long time residents and did not have underwater mortgages or any mortgage at all. Many were retired. As those owners downsize or die off, they are getting replaced with two income young professionals. The next tech or housing bust may have a different and bigger impact on our neighborhood next time around.

From your post it sounds like a big drop because you mentioned 2008. But I think fluctuation between +10% to -10% is not a huge price decline. It's a non starter for real estate because the transaction cost is high, like 6%.

 

[grasshopper]

My zip Land area: -829.1 sq. mi. population 830

Population density: -1.001 people per square mile

zip age 59.8, state age 37.4, income $38.8 K, med home $170.8 K.

 

[CaptTom]

Funny how those surveys always seem to assume we all want to live in a city.

Rather than fine dining and nightlife, I'd look for environmental factors. Climate, Lakes, rivers, oceans, mountains, forests. Maybe the best places have access to all of those.

Then there's the culture of a place. To me, "culture" doesn't mean going to the opera or a Broadway show. It means the character, traditions, accents and idiosyncrasies of the people who actually live and work in the area. I love exploring different cultures. Once you get over thinking anyone who's "different" is somehow not as good, you can really learn a lot. About them and yourself.

I guess the only value those lists of "best places" have for me is an overall sense of the cost of living. But even that varies greatly when you get out of the city.

 

[Huston55]

Funny how those surveys always seem to assume we all want to live in a city.



Rather than fine dining and nightlife, I'd look for environmental factors. Climate, Lakes, rivers, oceans, mountains, forests. Maybe the best places have access to all of those.



Then there's the culture of a place. To me, "culture" doesn't mean going to the opera or a Broadway show. It means the character, traditions, accents and idiosyncrasies of the people who actually live and work in the area. I love exploring different cultures. Once you get over thinking anyone who's "different" is somehow not as good, you can really learn a lot. About them and yourself.



I guess the only value those lists of "best places" have for me is an overall sense of the cost of living. But even that varies greatly when you get out of the city.

+1

I think the best places DO have access to all of those things.

And, I'm with ya on the definition of "culture."

 

[statsman]

Let's adjust those Austin numbers a bit...

Greater Austin Housing Market Update | Austin real estate | Homes for Sale Austin | Austin Homes

One of many reasons we won't retire here.

I would be curious what those reasons are. The housing costs are negligible for us because we're in an area of California with a median house cost three times what you listed for Austin ($371K).

 

[dixonge]

I would be curious what those reasons are. The housing costs are negligible for us because we're in an area of California with a median house cost three times what you listed for Austin ($371K).

Well, we haven't owned a home since 2010 and have no plans to re-enter that market, so that probably wasn't a good example. Factor in bad traffic, heat and humidity. But on top of all that, a political climate we are greatly at odds with and that is unlikely to change in the near future.

None of this matters to most people, just us.

 

[Al in Ohio]

I always thought I would retire on the Cape (as my parents did in the mid-1960's) but ended up first in VT and am now on the MA South Shore. The area around Lake Champlain had the same situation as you did with "summah people" picking up a nice chunk of the tax burden. And skiers in the winter. There's even a higher property tax rate for non-residents.

You didn’t mind the winters in VT?

 

[Doribe]

I edited your chart for my situation. I eliminated all places I would not currently consider. It looks like the higher age cities won't be a good long term investment. If young people don't stay or move in property values will decrease. Thanks for getting me started.


City Median age - State Median age- HH Med income - Med house value

Peru,Il.................... 45...38....47K....128K
Boulder Co............. 29...36....5kK....584K
Austin TX.................32...34...56K....235K
Tampa FL.................35....42...44K...190K
Seattle WA..............36....38...80K...530K
Raleigh NC...............33...38....57K...227K
Chicago IL...............34...37...51K....239K
Las Cruces NM.........33...37...41k....154K
Boise ID..................35...37...55K.....209K
Carson City, NV.........43...38...42K...237K
New Orleans, LA.......36...36...39K...316K
Oak Park, IL.............40...38---87k...382k

 

[53anddone]

You didn’t mind the winters in VT?

We retired in VT and love it. Yes the taxes are high but I will take that for great outdoor activities, great food and beer, a sense of community and no traffic (we live in the mountains).

We love to ski so snowed winters are fine by us.

On the downside we have mud season (April) and stick season (November) - but those are getaway months!

 

[COZICAN]

Yukon,OK.........37.....36.....66K.....143K

Seems there has been a weather shift in the last few years. Winters are not bad. We've only had a few days of snowfall over the last several winters. We have a great downtown district as well as numerous district refurbishing projects that are always hopping.

Coz

 

[mh]

We retired in VT and love it. Yes the taxes are high but I will take that for great outdoor activities, great food and beer, a sense of community and no traffic (we live in the mountains).

We love to ski so snowed winters are fine by us.

On the downside we have mud season (April) and stick season (November) - but those are getaway months!

Stick season ?

 

[MRG]

Stick season ?

https://en.m.wikipedia.org/wiki/Stick_Season

I'd never heard the term used before. It makes sense given the heavy deciduous growth in that area.

 

[Huston55]

Stick season ?

I’m guessing this is after all the leaves fall but, no snow yet.

ETA: cross posted w/ MRG, who’s more research oriented than my guessing mode.

 

[53anddone]

I’m guessing this is after all the leaves fall but, no snow yet.

ETA: cross posted w/ MRG, who’s more research oriented than my guessing mode.

Yes as noted it’s after the lovely period where we have all the color but before it snows. Basically the month of November when it is dark, wet, cold and drab.

Most folks up here use it to get all their outdoor chores finished up (or hunt deer if that’s your thing) before the freeze.

 

[Timeisprecious]

Dallas, GA............. 33.1...36.4....49k....131K

More importantly...
Males 44.7%
Females 55.3%

*laughing* Riiiiight!