2023 Real Estate Observations (home sales, grocery, historic)

[msRB311]

Originally Posted by matrix5k

Helping out my parents is like giving cash to an addict? Wtf?

This made me lol. I wouldn't say helping out parents is the same as giving money to a drug addict but I'd be annoyed if I had to do it. For my parents or my husbands. I'm happy to help them out when they need it but I need my money for my self and my kids in today's world. My MIL didn't save well and had hinted about moving in with her sons or to be helped out rent wise to move back to MA and has been told no.

[gf2020]

Originally Posted by massnative71

I was recently speaking to a 31ish newly married couple who just bought a house in Cohasset. I looked at their mortgage payment and it was over $4K/month. So...property easily upper 6 figures. Asked them what they did for work, both said "non profits".

You can qualify for a $4000 per month mortgage with a $150,000 per year income.

What makes you think people who work for a non-profit don't make a good income? Not for profit companies are competing for the same employees as for profit companies.

A mid-level employee at the Girl Scouts of Eastern Massachusetts will make over $100,000 per year. Same for the Appalachian Mountain Club or any other large not for profit.

[newenglandgal123]

Originally Posted by msRB311

This made me lol. I wouldn't say helping out parents is the same as giving money to a drug addict but I'd be annoyed if I had to do it. For my parents or my husbands. I'm happy to help them out when they need it but I need my money for my self and my kids in today's world. My MIL didn't save well and had hinted about moving in with her sons or to be helped out rent wise to move back to MA and has been told no.

You feel bad that they are in this financial predicament but how in the world do they expect their kids to support them financially when they have themselves and their own family to take care of in this high cost of living world we are in now? It's like a lot of the early 1960's born folks weren't taught to save for retirement b/c their parents had pensions which were still much more of a thing back then they are today. Except for a select few, many can't count on a pension today-- that's for darn sure! Big burdens and tough decision making lies ahead for the families of these folks who didn't save for their golden years.

[msRB311]

Originally Posted by gf2020

You can qualify for a $4000 per month mortgage with a $150,000 per year income.

What makes you think people who work for a non-profit don't make a good income? Not for profit companies are competing for the same employees as for profit companies.

A mid-level employee at the Girl Scouts of Eastern Massachusetts will make over $100,000 per year. Same for the Appalachian Mountain Club or any other large not for profit.

People working at non profits do tend to make less than people at for profit companies. This isn't new info. Doesn't mean they are poor but someone working at Northeastern is not getting a salary or bonus like someone who works at hubspot or Boston scientific.

Kind of a silly argument either way as maybe it was a low level employee at a for profit as well. Once again people here think everyone in the area is making more money than anyone in the world

[gf2020]

Originally Posted by newenglandgal123

It's like a lot of the early 1960's born folks weren't taught to save for retirement b/c their parents had pensions which were still much more of a thing back then they are today. Except for a select few, many can't count on a pension today-- that's for darn sure! Big burdens and tough decision making lies ahead for the families of these folks who didn't save for their golden years.

Early 1960s? That's the tail end of the Baby Boom generation, some of the biggest savers of all time.

newenglandgal123, when were your parents born? Better hope they stay healthy.

My Mom was born in 1942, she turned 81 yesterday. I contribute $10,000 per year towards her living expenses. She acknowledges she did not plan well for this stage of her life, but she never expected to live this long. Diagnosed with primary pulmonary hypertension at age 59, she was put on the lung transplant registry with a life expectancy measured in months and not years.

Yet here she is, over 20 years later, still alive. No lung transplants. She's seen all of her grandchildren grow into adulthood. Attended a grandson's wedding in Newport, RI, just 2 weeks ago. Doctors have written medical journal articles about her, experimental PPH treatment companies periodically visit her.

I pay $850 per month towards her $1500 per month 1-bedroom apartment in Sanford, Florida. I suppose I could force her to live in a rooming house in Florida, or whatever she could find for $700 per month, which is roughly 1/3 of her monthly income. However, my wife and I can afford the $10,000 per year, so we pay it and I can take comfort knowing that my Mom lives in a safe place that she likes.

[newenglandgal123]

Originally Posted by gf2020

Early 1960s? That's the tail end of the Baby Boom generation, some of the biggest savers of all time.

newenglandgal123, when were your parents born? Better hope they stay healthy.

My Mom was born in 1942, she turned 81 yesterday. I contribute $10,000 per year towards her living expenses. She acknowledges she did not plan well for this stage of her life, but she never expected to live this long. Diagnosed with primary pulmonary hypertension at age 59, she was put on the lung transplant registry with a life expectancy measurd in months and not years.

Yet here she is, over 20 years later, still alive. No lung transplants. She's seen all of her grandchildren grow into adulthood. Doctors have written medical journal articles about her, experimental PPH treatment companies periodically visit her.

I pay $850 per month towards her $1500 per month 1-bedroom apartment in Sanford, Florida. I suppose I could force her to live in a rooming house in Florida, or whatever she could find for $700 per month, which is roughly 1/3 of her monthly income. However, my wife and I can afford the $10,000 per year, so we pay it and I can take comfort knowing that my Mom lives in a safe place that she likes.

Better hope they stay healthy? Everyone hopes their parents stay healthy. Ours are mid 1960's born and one set is banking on the equity in their MA home when they sell it plus whatever they get from social security to carry them through retirement. Other than that, they're lucky if they have $50K saved in a retirement plan! Scary stuff! That's great that you can afford it and she's lucky to have a son who can pay all that. I hate to break it to you, but many will not be in that same position as your mom where their kid(s) are footing half/more than half their bills in retirement.

[matrix5k]

Originally Posted by gf2020

Early 1960s? That's the tail end of the Baby Boom generation, some of the biggest savers of all time.

newenglandgal123, when were your parents born? Better hope they stay healthy.

My Mom was born in 1942, she turned 81 yesterday. I contribute $10,000 per year towards her living expenses. She acknowledges she did not plan well for this stage of her life, but she never expected to live this long. Diagnosed with primary pulmonary hypertension at age 59, she was put on the lung transplant registry with a life expectancy measured in months and not years.

Yet here she is, over 20 years later, still alive. No lung transplants. She's seen all of her grandchildren grow into adulthood. Attended a grandson's wedding in Newport, RI, just 2 weeks ago. Doctors have written medical journal articles about her, experimental PPH treatment companies periodically visit her.

I pay $850 per month towards her $1500 per month 1-bedroom apartment in Sanford, Florida. I suppose I could force her to live in a rooming house in Florida, or whatever she could find for $700 per month, which is roughly 1/3 of her monthly income. However, my wife and I can afford the $10,000 per year, so we pay it and I can take comfort knowing that my Mom lives in a safe place that she likes.

For all the people who call me naive here, they sure are pretty ignorant about things like this. It's common in many countries for adults to take care of their elderly parents!

[gf2020]

Originally Posted by newenglandgal123

Better hope they stay healthy? Everyone hopes their parents stay healthy. Ours are mid 1960's born and one set is banking on the equity in their MA home when they sell it plus whatever they get from social security to carry them through retirement. Other than that, they're lucky if they have $50K saved in a retirement plan! Scary stuff! That's great that you can afford it and she's lucky to have a son who can pay all that. I hate to break it to you, but many will not be in that same position as your mom where their kid(s) are footing half/more than half their bills in retirement.

You don't have to break anything to me. What will you do in 10 or 20 years if your parents are facing being homeless?

I was born in the mid 1960s too. However, I have learned from my parents' lack of planning and my "golden years" will be a lot more comfortable.

[newenglandgal123]

Originally Posted by gf2020

You don't have to break anything to me. What will you do in 10 or 20 years if your parents are facing being homeless?

I was born in the mid 1960s too. However, I have learned from my parents' lack of planning and my "golden years" will be a lot more comfortable.

Unfortunately, if this issue should arise for them it is going to be a problem that I won't be able to solve while also keeping myself afloat too. I'll have to assist finding public housing for them I guess if that's what it came down to. Given the high cost of living in this state it's not like I'm going to be able to buy them a retirement place or pay their rent.

[msRB311]

Originally Posted by matrix5k

For all the people who call me naive here, they sure are pretty ignorant about things like this. It's common in many countries for adults to take care of their elderly parents!

You say that frequently along with generations all living under the same roof.

Taking care of someone doesn't always have to mean financially. These days in the US most of the time parents are the ones helping their kids in many different ways - and sometimes that help will last for life. Some people never grow up and I feel bad for those parents. I see more and more grandparents providing free help while their kids go to work or even more cases of I'm dropping off the kids at my parents for the weekend or week while we go on vacation. Sure some grandparents might enjoy that time with grandkids but not always. I've noticed more people having drug/mental issues where their parents have to step in to help.

People should try not to end up in a situation where they become a burden to anyone. If someone gets older and ends up with no money that is sadly a burden to whoever has to pay for them