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Whats missing is long term planning for mass transit. Without it this region will get overcrowded on existing infrastructure and may become less desirable in future.
I don't disagree that mass transit would help, but if you look at Atlanta, for example, the lack of infrastructure hasn't, in general, slowed growth.
Ehhhhhhh, maybe for those folks who have 500K-600K housing budgets like that person who just posted, or for those coming from high COL areas on the coasts, but real estate in the Triangle is increasingly becoming less affordable for a lot of people, especially working/middle class folks. There's already people from Durham who are moving out to Oxford & Henderson to escape the high rents. It's just a matter of time before more people from Wake County go out to Wilson and Rocky Mount.
Eh? I know this area pretty well and not all the housing stock is 500k plus.
There are plenty of homes in the 400k and under category. All depends... do you NEED a single-family home? Do you NEED a brand-new home? Do you NEED a large lot? Do you NEED 3000 sq ft?
I mean, you can find a 3-4 bedroom, 2-2.5 bath house around here for under 400k, even in Cary, where houses in Wake are priced higher than in other towns.
A quick check just informed me that there were 168 properties for sale in Cary matching that general description, 99 of which are single family homes (with the rest being townhomes or condos).
Of those, there are 76 that are not pending/contingent and of that 76, 38 are single family homes (with the rest being townhomes or condos).
That's not even me adding in Morrisville, which I am sure would boost the number a good bit and nobody can tell the difference between the two places.
If I added in Apex, it would go even higher.
My point is that there are houses out there that would accommodate the average 2-parent/2-kid household. Are they new and huge? Nah. The largest home I found was 2738 sq ft (and there were a good many over 2k sq ft with 2 car garages, for that matter) and the newest I found was less than a year old (there were 7 homes like that) with 19 of the homes I found 10 years old or newer.
So... I guess it's what you make it.
But, it's not true that there is no housing.
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I don't disagree that mass transit would help, but if you look at Atlanta, for example, the lack of infrastructure hasn't, in general, slowed growth.
Mass transit doesn’t actually slow growth. For every car trip diverted to transit, additional car trips will replace the diverted trips. Mass transit just adds capacity to the transportation network and provides more options to travel.
Whats missing is long term planning for mass transit. Without it this region will get overcrowded on existing infrastructure and may become less desirable in future.
Mass transit would not work in RTP. With the requirement for a large amount of land, most of the buildings are very far from the main street. The long walk from the train station to/from the office building would not be pleasant during inclement weather, the brutal heat of summer or even the few times we get below freezing.
Eh? I know this area pretty well and not all the housing stock is 500k plus.
There are plenty of homes in the 400k and under category. All depends... do you NEED a single-family home? Do you NEED a brand-new home? Do you NEED a large lot? Do you NEED 3000 sq ft?
I mean, you can find a 3-4 bedroom, 2-2.5 bath house around here for under 400k, even in Cary, where houses in Wake are priced higher than in other towns.
A quick check just informed me that there were 168 properties for sale in Cary matching that general description, 99 of which are single family homes (with the rest being townhomes or condos).
Of those, there are 76 that are not pending/contingent and of that 76, 38 are single family homes (with the rest being townhomes or condos).
That's not even me adding in Morrisville, which I am sure would boost the number a good bit and nobody can tell the difference between the two places.
If I added in Apex, it would go even higher.
My point is that there are houses out there that would accommodate the average 2-parent/2-kid household. Are they new and huge? Nah. The largest home I found was 2738 sq ft (and there were a good many over 2k sq ft with 2 car garages, for that matter) and the newest I found was less than a year old (there were 7 homes like that) with 19 of the homes I found 10 years old or newer.
So... I guess it's what you make it.
But, it's not true that there is no housing.
lol, What? Where? Median income in Wake county is ~$66K, going by the mortgage calculators, that can get you about $265K worth of a home. Justunder $400k, there's probably plenty of housing, I'll give you that, but that's for households making upwards of $100K a year. "Average" families in NC aren't making six figures a year
Mass transit would not work in RTP. With the requirement for a large amount of land, most of the buildings are very far from the main street. The long walk from the train station to/from the office building would not be pleasant during inclement weather, the brutal heat of summer or even the few times we get below freezing.
They're testing out an on-demand shuttle route in RTP (smartphone app - put in a call at your office like Uber and the app puts together a route for the driver to pick people up and take them to/from the station) which I think would work well for that setting.
lol, What? Where? Median income in Wake county is ~$66K, going by the mortgage calculators, that can get you about $265K worth of a home. Justunder $400k, there's probably plenty of housing, I'll give you that, but that's for households making upwards of $100K a year. "Average" families in NC aren't making six figures a year
I knew you'd say that... at least half those houses were under 300k.
I swear, I'm not making it up and I didn't say it was easy to find one.
If I add Apex and Morrisville, I am sure they increase.
Hold up.
Houses under 275k within 2 miles of Cary: 112 (54 of them are SFH, same as before 3 or more beds, 2 or more baths)... number of these that are not pending/contingent: 41 total, 21 of those are SFH.
So, yeah... that's still not "no houses" and some of these are under 200k.
Again, I realize this does not mean you can just drive up to the latest new home community in the exact spot where you want to buy a house and have your pick of plans, elevations, and features, but to be able to drive less than 10 miles to work and have your kids in some of the best schools in Wake County instead of in Wilson just to drive 1.5 hours to work and have iffy schools?
Yeah... I know where I'd be buying. And, I say this as someone who bought her own home for under 200k just prior to the RE crash of 2008 and had to go for a townhome, but it was in a good location and my kids had schools I was happy with and I had a short commute. When we sold it we did sell it for more than I paid for it, but not dramatically more because of the inflated prices when I bought it.
Would I have taken my less than 200k and moved to WILSON to get some land and a big house? Good grief, no.
I wouldn't even move to Zebulon or Fuquay for a bigger house, but I hate commuting.
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lol, What? Where? Median income in Wake county is ~$66K, going by the mortgage calculators, that can get you about $265K worth of a home. Justunder $400k, there's probably plenty of housing, I'll give you that, but that's for households making upwards of $100K a year. "Average" families in NC aren't making six figures a year
Is that median household income for a 2-parent household?
If the median is per person, you can assume there are a good many households where the income level is over 100k.
If it's per household, you can assume you have some SAHMs in this equation or single-parent households.
In either scenario, you are typically looking at a SAHM (or dad) who may wind up in the workforce later, increasing the family's income or a person who may marry and increase their income... or... a person who is single and does not mind a condo or townhome, both of which can be had for less than 300k, easy... certainly can meet a good many budgets... and this is just in/near Cary. Obviously you can get more house in Garner or Knightdale.
And, that's a way shorter commute to most jobs than Wilson.
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lol, What? Where? Median income in Wake county is ~$66K, going by the mortgage calculators, that can get you about $265K worth of a home. Justunder $400k, there's probably plenty of housing, I'll give you that, but that's for households making upwards of $100K a year. "Average" families in NC aren't making six figures a year
I agree she is completely out of touch with reality. Under $400k? Lol
That being said I was looking at homes here over the last few days and found an awesome 3/2 in north Raleigh on a large wooded lot. Definitely not HGTV material but totally fully functional for $250k. Which I guess with inflation these days is the standard price for homes.
Also keep in mind pretty much anything in the 2's have bidding wars, it's quite insane, and nerve racking. Homes in my neighborhood (low 2's), which are NOT in a prime location at all, are selling in hours.
I agree she is completely out of touch with reality. Under $400k? Lol
That being said I was looking at homes here over the last few days and found an awesome 3/2 in north Raleigh on a large wooded lot. Definitely not HGTV material but totally fully functional for $250k. Which I guess with inflation these days is the standard price for homes.
Also keep in mind pretty much anything in the 2's have bidding wars, it's quite insane, and nerve racking. Homes in my neighborhood, which I NOT prime location at all, are selling in hours.
No need to be rude, wheelsup.
I am not out of touch with anything. I know there are a variety of homes for a variety of buyers.
My "under 400k" came from the initial post that spoke of homes over 500k, so I went with a close number under 500k.
I never implied that everyone could afford a house for 375k.
Just that there's a big gulf between 300k and 500k and surely there are people served in that price bracket that do not need to move 1.5 hours away to find a decent house.
If you are wiling to make compromises, you can buy a house ITB for under 400k. Again, depends on what folks want.
You can buy in Cary for under 200k.
People honestly are just ticked that there aren't all these new houses for under 200k like there were post 9/11. Well, the area has gotten more popular since then. But, that does not mean there are no houses for under 200k.
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