Cohousing-L Mailing List: Re: Durham, NC: 2BR/2BA in Village Hearth

[Liz Ryan Cole (lizryancole]

Virgil is expressing a frustration so many feel.  But this is not cohousing's 
problem (and maybe we should make a post on the Coho.US site about housing 
costs generally and in cohousing)

For almost 40 years, most of my professional, life, the US government (and 
state governments as well) stopped putting money (or at least enough money) 
into subsidizing housing.  The narrative was that the market would take care of 
the problem. I suppose if people had earned enough that might have been at 
least partially true, but they didn’t and don’t and not because they were not 
working, but because of wages. At the same time some people were persuaded that 
the government was the problem (starve the beast) and taxes were really 
reduced.  Low taxes = low support for institutions like schools and health and 
housing.

When I was a young woman corporate taxes were higher than now:  From 1952 to 
1963, a span that encompasses Eisenhower's entire presidency, IRS historical 
data <https://www.irs.gov/statistics/soi-tax-stats-historical-table-24> 
confirms the tax rate was 30% for the first $25,000 in profits that a company 
made, and 52% for anything over that amount. 

Individual income taxes 
<https://taxfoundation.org/historical-income-tax-rates-brackets/> of top 
earners were above 90%. For married people filing jointly in 1953, for example, 
any income above $200,000 was taxed at 90%, above $300,000 at 91%, and above 
$400,000 at 92%. (Note that this is from USA Today  - sorry the inks don’t work 
but you can confirm at the IRS site)

Cohousing IS less expensive than other housing in these ways
1 - you can live comfortably in a smaller footprint because you share other 
footprint area like woodworking shops or music rooms or play space for kids or 
guest rooms 
2 - your can share the costs of land acquisition if you are allowed to build 
more densely than much zoning allows
3 - your living expenses may be reduced because you can share in gardening, or 
childcare, or food preparation or commuting costs

BUT, it still costs x$ per square foot to build - 

Right now, in the part of  rural New England where I am, the costs are $350 per 
sq and up and that is just building costs, not land acquisition or 
infrastructure costs.
Is $350 a sq foot a terrible price?  Yes if you are building, but no if you are 
a carpenter or a plumber who wants to earn enough to buy a home of their own or 
someone selling wood or other supplies builders need.

So don’t slam cohousing - it is not a silver bullet, but it is a silver BB.  

So look in your part of the world.  What are carpenters earning? What does land 
cost?  And if your house is in good condition, consider that if you can sell if 
for $300 a sf you will be offering something less than it costs to build a new 
one (but then of course where will you go?)  

liz

Loch Lyme Lodge and Cabins, LLC and future home of Pinnacle Cohousing (if Lyme, 
NH ever allows something less than 25 acre zoning)
CohoUS Board (I am speaking for myself and not for the board)



> On Nov 10, 2022, at 8:18 PM, Virgil Huston <virgil.huston1955 [at] gmail.com> 
> wrote:
> 
> Holy moly, Durham, NC, over $500,000 for 1150 square foot condo with $500
> ish HOA fees. I guess I expect this from CA or MA (two places I wouldn't
> live in a million years), but North Carolina? I guess I am posting my
> reaction because I am interested in co-housing, but I will never come close
> to affording it. I guess I am happy for those who can. I have been on this
> listserv for years and never seen a co-housing home I could even hope to
> afford in any location, plus HOA fees are as much as I remember mortgage
> payments to be. I am fixed income Army retired and I am super happy I own
> my single house in what I call a great lower income neighborhood (that is
> worth a fourth of this condo price). My neighborhood is old and certainly
> not upscale, but is safe and very nice, mixed rental and owner and very
> diverse (probably way more diverse than any co-housing). It is a great
> neighborhood and I love it, but I would also love the community
> that co-housing promises. The funny thing is we considered Durham a number
> of years ago because my brother-in-law is there and it was too expensive
> for a house that we looked at, but nothing like half a million for a condo.
> Part of me wishes I had bought that house if this is what real estate costs
> now in Durham, I could have made a fortune.
> 
> Not trying to be a jerk, but if co-housing is this expensive, I always
> wonder what all the chatter is about "affordable housing." Other than it is
> just a talking point to make people feel better. Or whatever. My wife and I
> would love to live in a co-housing atmosphere, but we simply aren't rich
> enough (and we aren't totally poor). And no amount of "affordable housing"
> double talk will ever change that.
> 
> Cheers
> 
> On Thu, Nov 10, 2022 at 6:38 PM Pat McAulay via Cohousing-L <
> cohousing-l [at] cohousing.org> wrote:
> 
>> Village Hearth Cohousing: Intentional community in Durham, NC, designed by
>> and for the 55+ LGBTQ community and their Allies. Immediate occupancy for
>> this newly available condo. Welcome Home! Village Hearth:
>> https://www.VillageHearthCohousing.com
>> 
>> 
>> 
>> This home is a 1152 sf two bedroom / two bath single story accessible
>> condo. The home is priced at $514,000. HOA dues for 2023 cover many of your
>> basic expenses at $476/month. This light-filled home has vaulted ceilings
>> with a skylight, Avion countertops, and a welcoming covered porch. There
>> are two remote parking spaces with onsite access to an electric car
>> charging station. Flyer for home: https://tinyurl.com/57f43s7t
>> 
>> 
>> 
>> Come be a part of all Village Hearth has to offer! Enjoy a meal or event
>> in the Common House, garden with your neighbors, join a work team and
>> complete a task with other members. Contribute to the maintenance and
>> governance of the community, then sit back and enjoy the sunset from the
>> terrace. Newsletter archive: https://bit.ly/3tdGRh7
>> 
>> 
>> 
>> Just 15 minutes from vibrant downtown Durham, you’ll have access to world
>> class medical care, an international airport, abundant outdoor activities,
>> and award-winning restaurants, sports, theatre, art, music, and
>> dance. Durham, NC: https://www.discoverdurham.com
>> 
>> 
>> 
>> Welcome Home to Village Hearth!
>> 
>> 
>> 
>> Email VillageHearthCohousing at gmail dot com or call Margaret at
>> 561-714-8009 for more information.
>> 
>> 
>> 
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