Home ownership is not the boon to older Americans that it once was

Re:Home ownership is not the boon to older Americans that it... by bradleyjg on Saturday May 11, 2024 @09:07PM (#40331685)

45 minutes outside of Chicago you can get a decent size, newish house for 3-400k. That’s up from pre covid but still very much trade-down-able for someone sitting on a paid off house in the Bay Area or Greater NYC.

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Re:Home ownership is not the boon to older Americans that it... by bombcar on Saturday May 11, 2024 @09:17PM (#40331724)

It used to be that the move from Chicago to about an hour outside Chicago would be “big enough” to make it worthwhile. And being only an hour away is different than across the country.

I’m not sure that’s as much the case anymore.

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Re:Home ownership is not the boon to older Americans that it... by bradleyjg on Saturday May 11, 2024 @09:47PM (#40331833)

Well that’s now a different claim.

When I was growing up in the suburbs of NYC, everyone’s grandparents moved to Florida. That’s further away than Chicago.

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Re:Home ownership is not the boon to older Americans that it... by tptacek on Sunday May 12, 2024 @07:24PM (#40338353)

You can get a decent-sized, newish house for 300-400k in a desirable neighborhood inside the city of Chicago, on the Blue Line, and then of course in a variety of inner-ring suburbs (Forest Park, Skokie, Berwyn, Niles). You definitely don't need to take a 45 minute commute to buy a house in Chicago on that budget.

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