Re: Increase in housing values: A boon or disaster for cohousing? | <– Date –> <– Thread –> |
From: Jim Snyder-Grant (jimsgnewview.org) | |
Date: Fri, 14 Jul 2006 09:01:21 -0700 (PDT) |
Boston has had a similarly huge price inflation for housing, and New View is out in the excellent-schools zone in the 'burbs, so things were barely affordable for many of us to begin with 10 years ago when we moved in. For our most recent house sale late in 2005, no one on our contact list could afford the house. We did find someone via an ad in the Boston Globe, but it is clear that our market is now much smaller. Will there be a shift in priorities as the process continues? Too early to tell. We've only had 3 turnovers in 10 years. We do have one house deeded as affordable, with binding contraints on both the price of the house and the income of the buyers. Some folks are considering adding such deed restrictions to their house, but it is hard to walk away from the economic gain. Maybe this will all be corrected by a big bubble burst? -Jim On 7/12/06, Rob Sandelin <floriferous [at] msn.com> wrote:
I do not know how real estate prices are faring in other parts of the US but here in the NW real estate is sky rocketing almost to the out of believable range. Cohousing units that originally sold for under $100,000 are going for $250,000 and more. It is one thing to be able to afford a place at original buy in but with the escalation of real estate values it is altogether another thing to be able to buy a home even a couple of years after construction. It is a double edged sword, in that first time buyers, when they move on, want to maximize their ability to buy another home, thus the higher the price they can get for their unit the more house they can buy elsewhere. I could not afford to buy my current home at its appraised value, but should I sell someday I would have to move away from the area unless I was able to get the appraised rate, since all the surrounding housing in the area is doing the same jump in price. So is affordability a one time thing for first owners? Rob Sandelin Sharingwood Cohousing Naturalist, Writer The Environmental Science School http://www.nonprofitpages.com/nica/SVE.htm ><((((º>`·..·`·..·`·...><((((º>...·`·..·`·...><((((º>.·`·..·`·...><((((º>.·` ·..·`·...><((((º>·.. ><((((º> ·`·..·`·...·..·`><((((º>.·`·..·`·...><((((º>.·`·..·`·...><((((º>..·`·..·`·.. .><((((º>·.. ·`·..·`·....·`·..·`·...><((((º> -- No virus found in this outgoing message. Checked by AVG Free Edition. Version: 7.1.394 / Virus Database: 268.9.10/386 - Release Date: 7/12/2006 _________________________________________________________________ Cohousing-L mailing list -- Unsubscribe, archives and other info at: http://www.cohousing.org/cohousing-L/
- Re: "Targeting" the wealthy, (continued)
- Re: "Targeting" the wealthy Savanah Fahrney-Day, July 12 2006
- Re: "Targeting" the wealthy Martin Sheehy, July 12 2006
- Message not available
- Message not available
- Affordability Chris ScottHanson, July 12 2006
- Message not available
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Increase in housing values: A boon or disaster for cohousing? Rob Sandelin, July 12 2006
- Re: Increase in housing values: A boon or disaster for cohousing? Jim Snyder-Grant, July 14 2006
- Re: Increase in housing values: A boon or disaster for cohousing? Lion Kuntz, July 21 2006
- Re: Thinking outside the box: Targetting Fine Homes that All People Can Afford. Martin Sheehy, July 15 2006
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