Asklemmy

43958 readers

1066 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy 🔍

If your post meets the following criteria, it's welcome here!

Open-ended question
Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
Not ad nauseam inducing: please make sure it is a question that would be new to most members
An actual topic of discussion

Looking for support?

Looking for a community?

Lemmyverse: community search
sub.rehab: maps old subreddits to fediverse options, marks official as such
!lemmy411@lemmy.ca: a community for finding communities

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago

MODERATORS

153

How cheap is the cheapest home for sale in your city/region? (lemmy.world)

submitted 9 months ago by ericbomb@lemmy.world to c/asklemmy@lemmy.ml

151 comments fedilink hide all child comments

In Utah County the cheapest "House" for sale is 600 square feet, 2 bed, 1 bath, at $300k.

So at current interest rate it would be $1,800 a month mortgage(assuming you put the 60k down payment! A decent amount more if you do 3% down.)

The cheapest condo/town in utah valley is 205k, 1,100 square feet, on a 400 square foot lot. But due to a $500 HOA fee the monthly cost is still 1,700 a month (assuming 20% down).

With 3.5% down they'd both be closer to 2.1k +PIMI.

So yeah, how is where you live doing?

you are viewing a single comment's thread
view the rest of the comments

[–] bobbyfiend@lemmy.ml 4 points 9 months ago (2 children)

Has that "absentee owner" law (or whatever the name is) taken effect yet? Do you think it will help?

[–] rab@lemmy.ca 5 points 9 months ago

Nothing will help unless they ban the ability to own multiple properties. Policies such as the empty homes one have intentional loopholes

[–] TSG_Asmodeus@lemmy.world 2 points 9 months ago (1 children)

The current government is trying to add things fairly quickly, the absentee owner law is in effect, and they did just add another 20% 'flipper' tax. As mentioned though, people still own way too many houses. My current landlord owns 7.

[–] TheRaven@lemmy.ca 2 points 9 months ago

To add to this, they’re banning mass AirBNB rentals which should help. But yes, banning ownership of more than 2 properties would surely help most.