Biden's America

[Cdog923]

What this bill could do for parents of young ones would be amazing; we currently pay a substantial amount more in childcare per month than our mortgage. The average savings that this bill would afford comes to about $13,000 a year for a middle class family; I can't tell you for certain what my family would do with that money, but at least a portion of it would be cashed out in pennies and put in a bathtub for me to swim in. 

 

 

[Ulty]

1 hour ago, teachercd said:

I suppose you could argue that free pre-K programs might cripple daycare centers

Just the opposite. This would be an absolute boon for daycares because they get the easy and guaranteed gov't money instead of having to chase down struggling parents to pay their bills. In-home daycare/babysitting may be a different story though.

[Ulty]

1 minute ago, Cdog923 said:

What this bill could do for parents of young ones would be amazing; we currently pay a substantial amount more in childcare per month than our mortgage. The average savings that this bill would afford comes to about $13,000 a year for a middle class family; I can't tell you for certain what my family would do with that money, but at least a portion of it would be cashed out in pennies and put in a bathtub for me to swim in. 

 

 

 

Be careful.

[Cdog923]

Just now, Ulty said:

Just the opposite. This would be an absolute boon for daycares because they get the easy and guaranteed gov't money instead of having to chase down struggling parents to pay their bills. In-home daycare/babysitting may be a different story though.

 

In-homes would probably have to partner with some sort of regional curriculum to show that they are providing substantial educational opportunities to kids in their care in order to qualify. 

[FrantzHardySwag]

5 minutes ago, teachercd said:

Isn't the answer just...don't buy so much expensive s#!t?

 

I mean, does a family of 4 NEED a 300,000 (or more) home?  Do they need two car payments at the same time?  Do you need to shop at Whole Foods, do you need to eat out a lot and belong to expensive gyms?

 

f#&% it, Yes!  We do need that s#!t!  Screw raising your own kids!  Hahah

We pay 400/week for two kids currently. When they go off to Kindergarten it'll be like we paid off an entire mortgage. 

[teachercd]

13 minutes ago, Ulty said:

Just the opposite. This would be an absolute boon for daycares because they get the easy and guaranteed gov't money instead of having to chase down struggling parents to pay their bills. In-home daycare/babysitting may be a different story though.

Yeah, I guess I was thinking about it differently and wrongly!  

[teachercd]

8 minutes ago, FrantzHardySwag said:

We pay 400/week for two kids currently. When they go off to Kindergarten it'll be like we paid off an entire mortgage. 

Haha!  No kidding!

[ZRod]

15 minutes ago, Cdog923 said:

 

I get your point, but the average price of a new home nationally in 2019 was almost 400k (it's a bit better around here; around 215k in Omaha and 230k in Lincoln). Families need two cars to get two parents to work, kids to school, etc. Groceries, no matter where you shop, are expensive, and Chipotle is delicious. 

Where I'm at in Michigan is comparable to Lincoln and Omaha for cost of living. We bought our condo in 2019 and the zestimate is already $30k more than what we paid for it. A lot of my co-workers have either been in bidding wars, or homes they are interested in are sold in just a few days.

15 minutes ago, Cdog923 said:

 

I get your point, but the average price of a new home nationally in 2019 was almost 400k (it's a bit better around here; around 215k in Omaha and 230k in Lincoln). Families need two cars to get two parents to work, kids to school, etc. Groceries, no matter where you shop, are expensive, and Chipotle is delicious. 

Where I'm at in Michigan is comparable to Lincoln and Omaha for cost of living. We bought our condo in 2019 and the zestimate is already $30k more than what we paid for it. A lot of my co-workers have either been in bidding wars, or homes they are interested in are sold in just a few days.

[Cdog923]

13 minutes ago, FrantzHardySwag said:

We pay 400/week for two kids currently. When they go off to Kindergarten it'll be like we paid off an entire mortgage. 

 

I'm counting the days to when my kids get to Kindergarten. 

[Cdog923]

4 minutes ago, ZRod said:

Where I'm at in Michigan is comparable to Lincoln and Omaha for cost of living. We bought our condo in 2019 and the zestimate is already $30k more than what we paid for it. A lot of my co-workers have either been in bidding wars, or homes they are interested in are sold in just a few days.

Where I'm at in Michigan is comparable to Lincoln and Omaha for cost of living. We bought our condo in 2019 and the zestimate is already $30k more than what we paid for it. A lot of my co-workers have either been in bidding wars, or homes they are interested in are sold in just a few days.

 

My wife and I were very frugal (and lucky) when we bought our home; it was everything we needed at the time, we bought in a buyer's market, and still only used about 60% of the amount of loan we were approved for. Like you, our appraisal has gone up almost 70k in the 5 years we've owned ours. 

[FrantzHardySwag]

Just now, Cdog923 said:

 

My wife and I were very frugal (and lucky) when we bought our home; it was everything we needed at the time, we bought in a buyer's market, and still only used about 60% of the amount of loan we were approved for. Like you, our appraisal has gone up almost 70k in the 5 years we've owned ours. 

My buddies buying right now. It's horror story after horror story. So glad we bought when we did. He has been bidding 20k-40k over asking (400k range) and consistently getting out bid by 30k-50k. He said people are routinely using an escalation clause to ensure their bid is 2k-5k higher than any other bid. 

[knapplc]

2 minutes ago, FrantzHardySwag said:

My buddies buying right now. It's horror story after horror story. So glad we bought when we did. He has been bidding 20k-40k over asking (400k range) and consistently getting out bid by 30k-50k. He said people are routinely using an escalation clause to ensure their bid is 2k-5k higher than any other bid. 

 

The Lincoln/Omaha housing market is madness. There are currently 28-30 homes on the market in Lincoln. There are usually ten times that. 

 

Houses are going for 10%-20% over asking price, no inspection, cash deals. I would hate to be trying to buy a pre-existing home right now.

 

 

[Cdog923]

5 minutes ago, FrantzHardySwag said:

My buddies buying right now. It's horror story after horror story. So glad we bought when we did. He has been bidding 20k-40k over asking (400k range) and consistently getting out bid by 30k-50k. He said people are routinely using an escalation clause to ensure their bid is 2k-5k higher than any other bid. 

 

Just now, knapplc said:

The Lincoln/Omaha housing market is madness. There are currently 28-30 homes on the market in Lincoln. There are usually ten times that. 

 

Houses are going for 10%-20% over asking price, no inspection, cash deals. I would hate to be trying to buy a pre-existing home right now.

 

Wife and I have talked about putting ours on the market and upgrading, but I'm terrified of selling without being able to buy. 

[knapplc]

Just now, Cdog923 said:

Wife and I have talked about putting ours on the market and upgrading, but I'm terrified of selling without being able to buy. 

 

You'll make great money over your initial purchase price, but you're going to fork over all those profits & then some trying to get another place. 

[Cdog923]

1 minute ago, knapplc said:

 

You'll make great money over your initial purchase price, but you're going to fork over all those profits & then some trying to get another place. 

 

Exactly my fear. We eventually just refinanced our mortgage, and got rid of a bunch of stuff to open up some more room.