🏡 What Are YOUR HOUSING CONCERNS today?

[Anonymous]

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(1) Whether WE are AGE 50 or 100, WE may have some concerns.

(2) What are YOUR concerns? 🤔

Thanks, Nicole 🏡 (Housing Forum)

[Anonymous]

2 comments(3/8/23)

Hey @KellytheBelly , yes, that is correct!!! 😤 My only child who is single in Florida, owns a townhouse. More EXPENSIVE than Virginia where I am. 😱

Nicole 🙃

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➡️@KellytheBelly wrote:

Property taxes are killing us. Because of the housing market crisis, our house value is going up, up, up, but that's no good with the taxes that you need to pay towards the value, I think it's up 16% this year. No doubt, you need a two-income household just to pay the bills. I hope it stops! 😧⬅️

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[KellytheBelly]

It's definitely a geographical concern, no matter where you are, even in rural areas. Yet, we are not officially in a recession, and there is some bright side the economy is getting better. Although I have never had COVID, I am a victim of it. As a survivor I am faced with the businesses and corporations claiming monetary loss, thus hiking up their rates, but in no way were they affected at all. RE: PPP loans. No reason for our property taxes to go up. They just decided to go with the flow of raising their rates; this would include the electric company, the water company, etc...they just raised their rates for no reason. Monopoly (the game) is the cheapest property we can get these days.

[Tonster521]

@KellytheBelly This is a follow up to my earlier reply. I will guess that the largest contributors to your property tax bill are your School Taxing Districts (Elementary and High School). You should review the number of Taxing Districts and their tax rates which are found on your property tax bill. You may also find the County Administration and your Fire District to be large contributors as well. Depending on your location, all of the above Taxing Districts may represent 60% to 75% of your total Property Taxes with School Districts being the highest. Teacher salaries and their pensions are expensive. So, if you are retired or considering retirement, you may find property tax savings/relief by moving to designated retirement communities with little to no school district taxes.

[Anonymous]

6 comments(3/7/23)

Well, I have several 🙄 but the BIG one for now is my RENT INCREASE for next month. Goes up EVERY April. Usually $10, this year 2023, thanks to the pandemic is $45. 😭 Last year 2022, $25. 😭

Nicole 🙃

[Tempest332]

Would like to go into a single level floor plan, realtors control the market, & many pretty much sell over market price as the hit the market, thus no chance for the casual looker.

My dwelling is not increasing at the pace most properties are as well, & I know many of us have been losing our retirement savings over the last year. 

I'm actually not sure how it all works anymore, my friends mother with lousy credit managed to purchase a lower priced home with little down for 30 years, ... she was 72 or 73 at the time, & would never live to pay this off in her natural life.  Is this how one does this at end of life?    

[nctarheel]

@Anonymous,

Rents have skyrocketed here in NC.

A one bedroom in Charlotte NC averages $1700+ a month. That average was well below $1000 as recently as five years ago.

My mortgage payment on my home is substantially below what the average one bedroom apartment rents for in my area.

[Tempest332]

The Southeast used to be such an affordable & nice place, now I wouldn't think of  retiring there, let alone being able to. 

[jonibee]

We  the people are getting hit from all angles ..From the food we buy to services that add on to the prices because of shipping costs. Housing costs from electric/oil/gas have risen considerably along with taxes/water/trash services...Clothing costs have gone up along also..Trying to stretch that money to cover everything is next to impossible so people fall behind in payments resulting in more money in late charges..Interest rate is up too ..Who knows where all of this will take up except to the "poor house"...We need relief all around...

[KellytheBelly]

My main wonderment with all of this is those that have saved for their retirement, for years! We watch as wages rise, yet still not matching the cost of living. How do people whom have saved for years in retirement really get their just desserts? It seems like there is a major loss here. 😧 

[Tempest332]

I may had saved for retirement to avoid ones reliance of SSI & now many of us close to or entering retirement have had the carpet pulled out from under us in '22 on retirement funds taking major losses.  Who says we aren't in a recession?  We will be lucky on this to be skirting off a depression!  This does not look like it will be ending any times soon.