View Full Version : Population Growth for OKC



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Bunty
06-29-2022, 01:29 AM
We have very business freindly laws that allow this. These companies buy everything they can and turn them into rental properties. They overbid okies. Then the okies have no where to go except rent. Im sure one of these fine investment companies will be happy to rent what would be a 1100 mortgage home to us for $16-$1700 a month. This is verh common in my neighborhood. The house cost $129 5 years ago. This price point is especially especially competitive. I wonder how its all going to work out in about 2 years

Hopefully, that problem isn't too hard to bypass by people getting with contractors to build their own new houses. I wonder if there are already more new houses being built than old ones for sale.

Ryan
06-29-2022, 06:10 AM
Hopefully, that problem isn't too hard to bypass by people getting with contractors to build their own new houses. I wonder if there are already more new houses being built than old ones for sale.

The problem is it takes months and months to throw up a new construction and people really don’t have that.
Kind of time. That’s what makes this such a sound investment that out of state businesses are jumping in. It’s can’t lose project. The housing/subprime crash in 2007-2008 really scare a lot of builders. New builds essentially stopped. It’ll take years to catch up. Meanwhile people who do actually win the bidding wars and buy houses could end up being upside down on properties they purchased for 10-50k over appraisal. .

OKCRealtor
06-29-2022, 09:00 AM
Meanwhile people who do actually win the bidding wars and buy houses could end up being upside down on properties they purchased for 10-50k over appraisal. .

That's not going to happen, prices are not likely to come down here. Virtually all sellers have a good chunk of equity at this point even if they've just bought in the last few months.

There's a good Dave Ramsey clip from earlier this month about why the next 6 months are the best time to buy/sell for next few years. A recession might prove to even be beneficial for OKC metro- we'll see.

BoulderSooner
06-29-2022, 09:32 AM
That's not going to happen, prices are not likely to come down here. Virtually all sellers have a good chunk of equity at this point even if they've just bought in the last few months.

There's a good Dave Ramsey clip from earlier this month about why the next 6 months are the best time to buy/sell for next few years. A recession might prove to even be beneficial for OKC metro- we'll see.

depending on home value prices will likely come down in the next year

Pete
06-29-2022, 09:50 AM
We have very business freindly laws that allow this. These companies buy everything they can and turn them into rental properties. They overbid okies. Then the okies have no where to go except rent. Im sure one of these fine investment companies will be happy to rent what would be a 1100 mortgage home to us for $16-$1700 a month. This is verh common in my neighborhood. The house cost $129 5 years ago. This price point is especially especially competitive. I wonder how its all going to work out in about 2 years

Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

LocoAko
06-29-2022, 10:14 AM
Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

Yeah. I saw someone on Reddit a few months ago claim you can no longer get anything "nice" here for under 300K which I found to be a ridiculous assertion. I guess it depends on your standards, but my renovated historical home in the core was even below that price and there are plenty of other options. It's definitely changed from just a few years ago (as it has everywhere), but we are still well below the state of the market in most other areas, as you said.

Zuplar
06-29-2022, 11:09 AM
Yeah there is absolutely money to be made on real estate, it's just less likely to be in the highly desired areas. You used to be able to get good deals anywhere, but that's always been low hanging fruit.

Pete
06-29-2022, 12:05 PM
If you are over 30 and have not bought a home in the OKC area with our crazy low prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestateandhomes-detail/2317-NW-45th-St_Oklahoma-City_OK_73112_M84640-23250

catch22
06-29-2022, 01:43 PM
I purchased a home in one of the most expensive markets in the country, in Colorado, when I was 25. I left my dogs with my mom in Oklahoma, and slept in a van in the employee parking lot for 3 months and worked 16-hour days for 3 months straight. . I showered at the gym and ate my dinner in the break room at work. It was miserable but also very rewarding walking out of the title office with keys in hand to my own slice of Colorado. It’s not a mansion but it’s my home. Went back to Oklahoma as soon as I could to bring my dogs back to their new home.

It takes work and determination. Nothing is free and sometimes you have to go out and create your own destiny.

Ginkasa
06-29-2022, 01:51 PM
If you are over 30 and have not bought a home in the OKC area with our crazy low home prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestateandhomes-detail/2317-NW-45th-St_Oklahoma-City_OK_73112_M84640-23250


That house looks like it smells like cigarettes smoke, lol.

Seriously, though, we probably would have looked at that house if it were on the market a couple of months ago. Happier, I think, where we ended up comparatively though.

FighttheGoodFight
06-29-2022, 02:33 PM
I think there is a subset of the population that is going to rent until their parents die then take over that home. I think I have seen about four people do this in my neighborhood alone.

shartel_ave
06-30-2022, 08:29 AM
If you are over 30 and have not bought a home in the OKC area with our crazy low prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestateandhomes-detail/2317-NW-45th-St_Oklahoma-City_OK_73112_M84640-23250

1/3rd of the US population (52 million) make less than 15 an hour.

that house is almost a 1/4 of million dollars and 55 years old! To think that is affordable to most americans is not reality.

dcsooner
06-30-2022, 08:40 AM
Welcome to the real world, Oklahoma.

Bidding wars and scarcity of high-quality housing have been the norm in most major metro areas for decades.

All that is happening is that property in the area is still below national averages and generally undervalued, so it's being snapped up.


It's absolutely not true that it leaves locals with nothing other than rental options. There are still thousands of low-priced homes. Start small, put in some sweat equity and build your way up. You know, the same way everyone else has done it for the last 100 years.

+1

shartel_ave
06-30-2022, 08:41 AM
reality

https://inequality.org/facts/income-inequality/

Pete
06-30-2022, 09:02 AM
1/3rd of the US population (52 million) make less than 15 an hour.

that house is almost a 1/4 of million dollars and 55 years old! To think that is affordable to most americans is not reality.

My point was a very nice home in OKC is still reasonable by any comparative measure and there are plenty of much cheaper houses in the area.

My house is the same age and is awesome after I put some sweat equity into it. The idea that a 50 year-old home is somehow not acceptable proves my previous points about unrealistic expectations.

shartel_ave
06-30-2022, 09:30 AM
My point was a very nice home in OKC is still reasonable by any comparative measure and there are plenty of much cheaper houses in the area.

My house is the same age and is awesome after I put some sweat equity into it. The idea that a 50 year-old home is somehow not acceptable proves my previous points about unrealistic expectations.

I didn't say it was unacceptable my point was the price of that home. Having to spend a quarter of a million dollars on a "fixer upper" is ridiculous!

12 years ago my brother had two story, 3 bed, 2.5 bath, 2 car garage house built brand new just outside of Tucson for $220k

it unrealistic to think most people can afford that much money on a home when edit; 60% of americans live paycheck to paycheck

just one of tons of sites with the same information https://www.forbes.com/sites/zackfriedman/2022/02/08/shock-poll-7-in-10-americans-live-paycheck-to-paycheck/?sh=20a1e96a55f6

I'm lucky, I own my home and have zero debt and do not have a single credit card and I'm hardcore frugal and have no kids.

My point is most people cannot afford that.

Pete
06-30-2022, 09:44 AM
Having to spend a quarter of a million dollars on a "fixer upper" is ridiculous!

Again, completely unrealistic expectations brought on by living in one of the most under-priced housing markets in the country.

Almost anybody can start today with Amazon or Hobby Lobby or scores of other employers begging for workers and get paid $17/hour plus benefits. With two incomes, that's $68K a year and you absolutely can buy a home in the OKC area with that type of income. Then, you build up equity and improve your house or upgrade down the line.

Thatguy15
06-30-2022, 10:08 AM
I didn't say it was unacceptable my point was the price of that home. Having to spend a quarter of a million dollars on a "fixer upper" is ridiculous!

12 years ago my brother had two story, 3 bed, 2.5 bath, 2 car garage house built brand new just outside of Tucson for $220k

it unrealistic to think most people can afford that much money on a home when edit; 60% of americans live paycheck to paycheck

just one of tons of sites with the same information https://www.forbes.com/sites/zackfriedman/2022/02/08/shock-poll-7-in-10-americans-live-paycheck-to-paycheck/?sh=20a1e96a55f6

I'm lucky, I own my home and have zero debt and do not have a single credit card and I'm hardcore frugal and have no kids.

My point is most people cannot afford that.

Simple economics says you are wrong....the market is the market because people CAN afford that.

Jersey Boss
06-30-2022, 10:37 AM
Simple economics says you are wrong....the market is the market because people CAN afford that.

If you are of the belief that investment corporations are "people".

mugofbeer
06-30-2022, 10:45 AM
If you are of the belief that investment corporations are "people".

This is once I have to agree with Jersey. Anytime you have a period where real estate is inflating in price the way it has been, corporations and foreign investment is part of the reason. I believe that the trend of remote officing and a need for additional room (moving from apartment or condo to a house) is another reason. Covid brought a major unforseen change to residential demographics.

Pete
06-30-2022, 02:07 PM
BTW, there is a massive benefit of local housing prices that are finally drifting towards national averages: the huge amount of infill.

Up until recently, low rents and home selling prices meant it didn't make financial sense to redevelop underutilized properties. You would have never seen the massive amount of infill in the core if we hadn't had some decent appreciation.

It's not just downtown, although it contains hundreds of examples. And not only around hot districts like Midtown, Uptown and the Plaza.

The infill is absolutely everywhere these days. I've even seen long-vacant lots near me at NW 50th & Penn finally be developed. And right around the corner, an old, very small house was torn down with 2 2-level new homes built on the site.

The same is happening all around Classen Curve, Western District, near OCU, NE OKC and on and on.

Not only does such new development and redevelopment greatly benefit our city, it's cleaned up a bunch of areas that were pretty shabby and increased density (and entire books have bene written about the civic benefits of density alone). The trend is only accelerating.

At the same time, there is new affordable housing units being built at Page Woodson, 700 West and other places.

oklip955
06-30-2022, 04:38 PM
Again, completely unrealistic expectations brought on by living in one of the most under-priced housing markets in the country.

Almost anybody can start today with Amazon or Hobby Lobby or scores of other employers begging for workers and get paid $17/hour plus benefits. With two incomes, that's $68K a year and you absolutely can buy a home in the OKC area with that type of income. Then, you build up equity and improve your house or upgrade down the line.

The problem is that many people have unrealistic expectations. That house that was posted is not bad. Ok a bit dated but still not bad. Lots of space for the money and centrally located in a decent area. So many people have watched way too many housing shows and expect the 3 or 4 bed 2 or 3 bath 3000 sq ft homes that are fully updated with top of the line appliances. My first house was 700 sq ft 2 bed and 1 bath with a one wall kitchen, It was the early 80's but the house was 50s. no garage, next to busy railroad tracks. The plus was 2 ac. I lived in it for 2 years then divided it up into 6 lots and sold to an investor
/agent/developer who build small rent houses. The point being one needs to start small and work their way up to their dream home.

gopokes88
06-30-2022, 05:00 PM
If you are over 30 and have not bought a home in the OKC area with our crazy low prices and microscopic interest rates, that's all on you.

If you're under 30, a well-located home that doesn't need work is not your birthright. You buy a small house and/or one needing work and build up equity over time.

This is exactly what I did, what my parents did and just about everyone else I know. Now, you get all these young people watching HGTV and Instagram feeds and feel entitled to a completely finished dream home as a first-time buyer.


There is a great, 4-bed 2-bath house right around the corner from me on a very nice street in a great location with a big fenced-in backyard.

It could use some updating but you could move in today and live quite well, and then slowly make the changes you'd like and probably never outgrow it.

It's $245K and has been on the market for a couple of weeks without an offer. If I didn't already love my house, I'd buy it in a heartbeat, clean up the front landscaping, do some painting, replace the Formica countertops and then over time start work on the bathrooms and other things. You could open up the living/dining/kitchen (as I did with my house) and have a great modern floorplan in a close-in established neighborhood.

https://www.realtor.com/realestateandhomes-detail/2317-NW-45th-St_Oklahoma-City_OK_73112_M84640-23250

Go off king.

ChrisHayes
06-30-2022, 05:16 PM
Out-of-state corporations are flooding Oklahoma housing market (https://okcfox.com/news/local/out-of-state-corporations-are-flooding-oklahoma-housing-market-real-estate-homeowners-state-representative-mickey-dollens-anti-retaliation-laws)

I looked it up, and less than 20% of homes sold in Oklahoma are sold to investors. Further more, that doesn't differentiate between the small investor or big corporate ones. This is a far cry from cities such as Phoenix or Atlanta where investors buy up far more than in Oklahoma. Also, with the housing market slowing down, and interest rates going up, don't be surprised if the investors buying up houses declines quite a bit. There are some who actually say many investors will actually be forced to liquidate their holdings. We'll see. I don't see how you could outlaw or try to prevent investors from buying houses. I'm not a fan of big investment companies doing it, but I'm even less a fan of enacting laws that would prevent it.

Ryan
07-01-2022, 05:59 AM
I looked it up, and less than 20% of homes sold in Oklahoma are sold to investors. Further more, that doesn't differentiate between the small investor or big corporate ones. This is a far cry from cities such as Phoenix or Atlanta where investors buy up far more than in Oklahoma. Also, with the housing market slowing down, and interest rates going up, don't be surprised if the investors buying up houses declines quite a bit. There are some who actually say many investors will actually be forced to liquidate their holdings. We'll see. I don't see how you could outlaw or try to prevent investors from buying houses. I'm not a fan of big investment companies doing it, but I'm even less a fan of enacting laws that would prevent it.

1 in 5is still a lot. Feels bubbly to me. That’s more Thant the ratio of balloon mortgages 15 years ago isn’t it. But I like a healthy housing market. I wonder what the sweet spot is concerning investors stake in the housing market vs homeowners?

ChrisHayes
07-01-2022, 07:21 AM
1 in 5is still a lot. Feels bubbly to me. That’s more Thant the ratio of balloon mortgages 15 years ago isn’t it. But I like a healthy housing market. I wonder what the sweet spot is concerning investors stake in the housing market vs homeowners?

That's a good question. And it seems very much like a bubble. I saw one story where an investment company is looking to liquidate 3,000 single family rental properties they own, which comes out to a billion dollars in properties. I doubt that's the last one.

Thatguy15
07-01-2022, 08:58 AM
If you are of the belief that investment corporations are "people".

Not happening much in Oklahoma, get off twitter

shartel_ave
07-01-2022, 09:46 AM
Not happening much in Oklahoma, get off twitter

What's up with you and meaningless statements?

Are you that get off my lawn guy or something?

soonerguru
07-01-2022, 09:48 AM
Our first home was $100k in 2005 and it was a stretch to get it (based on our credit and income situation at the time). We are so glad we bought it then, lived there for more than a decade, and then upgraded to a home we bought (absurdly) for $200k in 2017. It's obviously worth considerably more than that now.

Our income and credit situation is a total 180 from 2005 now, and has been for some time.

Pete is right; there are still many reasonable options available in OKC. The blessing and curse of our city is the spread out, sprawling nature of our collective footprint. This lack of density and sound urban planning has created a lot of holes to fill in, moderating the increase in the cost of real estate.

I do worry that home ownership overall is going to be too costly for most Americans. For those of us who got in, good for us, but you want to leave a ladder for future generations. Until recently, incomes had not really grown for like 40 years. Now, they are growing but unfortunately accompanied by high inflation.

In many cities, home ownership is out of reach for most of the population now. Yes, welcome to reality OKC, but one would hope our city doesn't get to that point.

If you don't own a home, I agree it is a good investment, but people really need to think about the cost of upkeep when making the decision. We have a really well built, well cared-for home that was built in the 1960s. There are a lot of constant maintenance costs people don't think about that crop up. That's why it's not always the right financial move to buy. Sometimes renting seems more expensive on the surface when you don't consider the hidden costs of home ownership.

So, if you do buy, don't stretch your budget to the limit, because you will need to set aside money to keep your home up.

soonerguru
07-01-2022, 09:50 AM
I looked it up, and less than 20% of homes sold in Oklahoma are sold to investors. Further more, that doesn't differentiate between the small investor or big corporate ones. This is a far cry from cities such as Phoenix or Atlanta where investors buy up far more than in Oklahoma. Also, with the housing market slowing down, and interest rates going up, don't be surprised if the investors buying up houses declines quite a bit. There are some who actually say many investors will actually be forced to liquidate their holdings. We'll see. I don't see how you could outlaw or try to prevent investors from buying houses. I'm not a fan of big investment companies doing it, but I'm even less a fan of enacting laws that would prevent it.

That is still a considerable amount.

TheTravellers
07-01-2022, 09:55 AM
...
If you don't own a home, I agree it is a good investment, but people really need to think about the cost of upkeep when making the decision. We have a really well built, well cared-for home that was built in the 1960s. There are a lot of constant maintenance costs people don't think about that crop up. That's why it's not always the right financial move to buy. Sometimes renting seems more expensive on the surface when you don't consider the hidden costs of home ownership.

So, if you do buy, don't stretch your budget to the limit, because you will need to set aside money to keep your home up.

Yep, this 100%. Bought our 1950 (remodeled with new infrastructure 20 years ago) house 6 years ago, have had to remove *tons* of plants, trees, etc., and fill in with a couple of tons of dirt, and that's just the lawn. All kinds of HVAC stuff, fixtures, electrical, just lots of stuff we've done and we're *almost* at a point where things are stable (had our HVAC/plumbing guy come in and fix everything he saw that was wrong or would fail in the next few years and it took a month and was expensive, but worth it for the peace of mind). We've probably spent ~ $20,000 on getting things back to where they should be.

Jersey Boss
07-01-2022, 10:02 AM
That is still a considerable amount.

Nor is % of "Oklahoma" sales to investors the same as Oklaoma City sales to investors.

shartel_ave
07-01-2022, 10:06 AM
Glad a bought a duplex and paid it off so now it generates an income

https://www.moneyunder30.com/why-your-house-is-not-an-investment

https://www.fool.com/investing/2022/06/03/are-we-in-a-housing-bubble/#:~:text=Key%20Points,of%20a%20full%2Dblown%20bubb le.

ChrisHayes
07-01-2022, 12:52 PM
Nor is % of "Oklahoma" sales to investors the same as Oklaoma City sales to investors.

https://www.realtor.com/news/trends/where-homebuyers-are-facing-the-most-competition-from-real-estate-investors/ According to Realtor, it's 11%. But like I said, that number doesn't differentiate between mom/pop/small investor and big institutional. If you buy a house to turn it into a rental, you're marked as being an investor.

shartel_ave
07-01-2022, 01:28 PM
https://www.realtor.com/news/trends/where-homebuyers-are-facing-the-most-competition-from-real-estate-investors/ According to Realtor, it's 11%. But like I said, that number doesn't differentiate between mom/pop/small investor and big institutional. If you buy a house to turn it into a rental, you're marked as being an investor.

So, are people saying corporations are buying up housing property?

If so what is the reason for it?

ChrisHayes
07-01-2022, 01:35 PM
So, are people saying corporations are buying up housing property?

If so what is the reason for it?

They turn them into rental properties.

shartel_ave
07-01-2022, 01:51 PM
They turn them into rental properties.

Ohhh, that makes sense

soonerguru
07-01-2022, 01:53 PM
Nor is % of "Oklahoma" sales to investors the same as Oklaoma City sales to investors.

Excellent point.

soonerguru
07-01-2022, 01:56 PM
Yep, this 100%. Bought our 1950 (remodeled with new infrastructure 20 years ago) house 6 years ago, have had to remove *tons* of plants, trees, etc., and fill in with a couple of tons of dirt, and that's just the lawn. All kinds of HVAC stuff, fixtures, electrical, just lots of stuff we've done and we're *almost* at a point where things are stable (had our HVAC/plumbing guy come in and fix everything he saw that was wrong or would fail in the next few years and it took a month and was expensive, but worth it for the peace of mind). We've probably spent ~ $20,000 on getting things back to where they should be.

And people I know who bought brand new homes in far Northwest OKC a few years ago are already having to put money back in. Stuff breaks. Some of the 1950s and 1960s homes were built more solidly than many brand new homes are, although we have different standards for plumbing, electrical and such today that mitigate some of the issues you had to deal with.

The central point is to not be so house poor that you can't make a major repair, get a new HVAC, or repaint the siding on a fairly regular basis, because you are going to have to pay to keep up your home regardless.

ChrisHayes
07-01-2022, 02:26 PM
I got preapproved for 165k in 2018. I had a car loan at the time, so I could have gotten preapproved for more than that if I didn't have the car loan. I wanted a 3/2 with a two car garage, but in an at least somewhat safe area and to have as little of a payment as I could. I ended up buying a 3/1 with a two car garage near OCCC for 91,500. I put 10% down and my monthly payment is less than 700 a month. I've put a lot of sweat equity into the house during the past four years and the house is now valued at anywhere from 120-150,000 dollars. I would like to sell it and upgrade, but I love having such a cheap house payment.

Pete
07-01-2022, 02:40 PM
^

That's the way to do it!

I've had the stupidly expensive house, expensive cars... And I am way, way happier living modestly.

I buy nice things, take very good care of them and then don't have the stress of working for someone else and being a slave to debt.

shartel_ave
07-01-2022, 03:02 PM
^

That's the way to do it!

I've had the stupidly expensive house, expensive cars... And I am way, way happier living modestly.

I buy nice things, take very good care of them and then don't have the stress of working for someone else and being a slave to debt.

same here, it's how I paid my house off and have zero debt and can retire at 55 or sooner if I want to and as of now I want to.

I go so many years not seeing my mother in san antonio and my brother in tucson and they don't get up here much either but sometimes we meet up at Lake Possum Kingdom for a get together.

When I retire I can go see them as much as I want.

OKCRealtor
07-01-2022, 04:44 PM
+1 on starting small and house hacking it/living under your means.

I did the exact same thing in my early 20's and it was one of the smartest things I could do at the time and paid off nicely.

Too many now are choosing to pay absurd rent instead of doing the same. Very foolish and costly long term financial decision in most cases.

Pete
07-01-2022, 04:47 PM
^

Or, people buy 5,000 SF homes for their 2-4 person family.

A good friend of mine pays more for his combined electric and water bill than I do on my mortgage.

GoGators
07-01-2022, 07:03 PM
Yep, this 100%. Bought our 1950 (remodeled with new infrastructure 20 years ago) house 6 years ago, have had to remove *tons* of plants, trees, etc., and fill in with a couple of tons of dirt, and that's just the lawn. All kinds of HVAC stuff, fixtures, electrical, just lots of stuff we've done and we're *almost* at a point where things are stable (had our HVAC/plumbing guy come in and fix everything he saw that was wrong or would fail in the next few years and it took a month and was expensive, but worth it for the peace of mind). We've probably spent ~ $20,000 on getting things back to where they should be.

Not saying you weren't, but Id be careful about what people come in and tell you needs to be fixed that are “about” to fail. Had an hvac guy at my house in April saying I needed a complete new unit because there would be no way the old unit would survive the upcoming peak summer heat and it would be toast. Basically called me an idiot for not agreeing to a new system. Well The thermostat is sitting at 68 degrees right now on a hot July day. And that conversation was April of 6 years ago.

shartel_ave
07-01-2022, 08:25 PM
^

Or, people buy 5,000 SF homes for their 2-4 person family.

A good friend of mine pays more for his combined electric and water bill than I do on my mortgage.

? The upper 5% buying 5k sqft homes? They can afford to blow money on stupid high utility bills, come on

TheTravellers
07-01-2022, 10:03 PM
Not saying you weren't, but Id be careful about what people come in and tell you needs to be fixed that are “about” to fail. Had an hvac guy at my house in April saying I needed a complete new unit because there would be no way the old unit would survive the upcoming peak summer heat and it would be toast. Basically called me an idiot for not agreeing to a new system. Well The thermostat is sitting at 68 degrees right now on a hot July day. And that conversation was April of 6 years ago.

Well, our electric service still had the 1950 meter, so that one was an accurate call. :) All the HVAC/plumbing was needed - he's a plumber we've used almost ever since we've been here and he's completely honest and only does what needs to be done, he's done *tons* of work for us updating broken hose bibs, corroded 15-year-old water heater, replacing old valves with ball ones, etc. Yeah, always good to be careful, but we had a home inspection done, so we were aware of most of the things that needed fixing, other stuff cropped up after we moved in, and I have a pretty good knowledge of a house and how it all works (my estimate of the work being done that I do in my head is almost always very close to what they come up with), so that has helped us out a lot. We're basically bringing the house up to speed and fixing some of the deferred maintenance from the previous owners, so we won't have to worry too much about this kind of stuff breaking later on down the line (although there will be stuff that breaks, but hopefully less of it :)).

shartel_ave
07-13-2022, 09:30 AM
Not sure were this belongs but this is a great article

https://405business.com/the-district-divide-the-future-of-okcs-districts/?fbclid=IwAR3IkRPKyYctFaC2UTu7FQjHAk71D8ZyF6zRb8sX WgjUoEsk8T35AgQYucg


Interesting, Phase 2 of the streetcar

ASIAN DISTRICT

Here’s another underdeveloped area where spillover has fueled success for small businesses. Jenny Nguyen, co-owner of Lee’s Sandwiches and VP of the Asian District Cultural Association, is working on a vermicelli bowl concept at NW 25th and Classen scheduled to open in late summer. Gong Cha, a national bubble tea concept, will be moving into 2800 N. Classen. A locally owned laundromat named Spin City should be open when this issue comes out. Nathan Cao is developing a multi-family complex called New Saigon on NW 26th and Western, a 36-unit complex to feature “smart studios” that Cao calls “the most affordable for new construction in the urban core,” with prices around $800 per month. The transit-oriented development is designed to capitalize on phase two of the OKC Streetcar.

Pete
07-13-2022, 10:29 AM
^

There is absolutely zero movement toward expanding the streetcar.

There will be BRT stops near 23rd & Classen.


The rest of that is all stuff we reported many months ago.

405 in all its forms is just a glossy pay-for-coverage publication trying to mascarade as journalism.

TheTravellers
07-13-2022, 10:31 AM
Also - Scratch, Frida, and Goro are not among OKC's "very best" restaurants. Frida and Scratch are very good, though, but Goro isn't even that, in our opinions (Tamashii has them beat easily).

shartel_ave
07-13-2022, 10:38 AM
^

There is absolutely zero movement toward expanding the streetcar.

There will be BRT stops near 23rd & Classen.


The rest of that is all stuff we reported many months ago.

405 in all its forms is just a glossy pay-for-coverage publication trying to mascarade as journalism.

I had a feeling it had been covered on OKCTalk but thought maybe not since the article was only 6 months old.

Pete
07-13-2022, 10:40 AM
Also - Scratch, Frida, and Goro are not among OKC's "very best" restaurants. Frida and Scratch are very good, though, but Goro isn't even that, in our opinions (Tamashii has them beat easily).

It's because the owners of Goro and Scratch give tons and free food and drink to Greg Horton, the author.

Why on earth anyone bothers with that rag is beyond me. They are never going to have any new information (and frequently have no idea what they are talking about) and the rest is all driven by advertising and giveaways.

As much as OKC has grown, our 'journalism' is still at the level of a small town.

shartel_ave
07-13-2022, 10:42 AM
Also - Scratch, Frida, and Goro are not among OKC's "very best" restaurants. Frida and Scratch are very good, though, but Goro isn't even that, in our opinions (Tamashii has them beat easily).

when it comes to "very best" concerning restaurants it is always subjective

I agree as far as Tamashii goes, I prefer them over Goro but I love tonkotsu ramen more than any other types of ramen.

Jinya's tonkotsu is really good but expensive.

shartel_ave
07-13-2022, 10:43 AM
It's because the owners of Goro and Scratch give tons and free food and drink to Greg Horton, the author.

Why on earth anyone bothers with that rag is beyond me. They are never going to have any new information (and frequently have no idea what they are talking about) and the rest is all driven by advertising and giveaways.

As much as OKC has grown, our 'journalism' is still at the level of a small town.

I don't pay attention to 405 I was researching the ironworks district and that article popped up

TheTravellers
07-13-2022, 11:01 AM
when it comes to "very best" concerning restaurants it is always subjective

I agree as far as Tamashii goes, I prefer them over Goro but I love tonkotsu ramen more than any other types of ramen.

Jinya's tonkotsu is really good but expensive.

Good to hear, sounds like we're on the same page WRT ramen, Jinya's on our go-to-soon list...

LocoAko
07-13-2022, 11:12 AM
Whether or not certain restaurants fall into the top tier (we, for example, love Frida and Goro), where did they get any notion of a Phase 2 of the streetcar? Did they just make that up out of thin air and/or wishful thinking? As Pete said the BRT is going in and will likely kill any possibility of future transit up the Classen corridor for the time being (plus, anecdotally, I know a lot of people that have 'turned' on the streetcar after seeing how low ridership has been and bash/mock it frequently). I know there are no actual standards when it comes to publishing this sort of thing but I mean...

shartel_ave
07-13-2022, 11:20 AM
Whether or not certain restaurants fall into the top tier (we, for example, love Frida and Goro), where did they get any notion of a Phase 2 of the streetcar? Did they just make that up out of thin air and/or wishful thinking? As Pete said the BRT is going in and will likely kill any possibility of future transit up the Classen corridor for the time being (plus, anecdotally, I know a lot of people that have 'turned' on the streetcar after seeing how low ridership has been and bash/mock it frequently). I know there are no actual standards when it comes to publishing this sort of thing but I mean...

I think the weekday ridership is fine for the streetcar it is on par with Seattle's weekday streetcar averaging around 3k riders per day

edit: I can't find any 2021 ridership info for OKC streetcar and I got daily ridership off of wikipedia for both cities and it doesn't seem to add even for weekday ridership for OKC

Light rail would be nice in OKC. Like a lot of cities mixed public trans would be great here having the bus, streetcar, and a light rail. I left Seattle in 2007 before Link light rail even had one station open in Seattle but I've visited many times since it has opened and now goes all the way the university district.

Pete
07-13-2022, 11:22 AM
Whether or not certain restaurants fall into the top tier (we, for example, love Frida and Goro), where did they get any notion of a Phase 2 of the streetcar? Did they just make that up out of thin air and/or wishful thinking? As Pete said the BRT is going in and will likely kill any possibility of future transit up the Classen corridor for the time being (plus, anecdotally, I know a lot of people that have 'turned' on the streetcar after seeing how low ridership has been and bash/mock it frequently). I know there are no actual standards when it comes to publishing this sort of thing but I mean...

The author simply has no idea what he is talking about.

He's a wannabe food critic that merely hangs out in bars and restaurants getting as many freebies as he can (which is never disclosed), then writes about his 'friends' in glowing terms over and over again.

Now, they are using him in this 'business' publication because he's cheap and available. As far as I can tell, his only experience in business is holding up a bank at gunpoint (no, I'm not joking). That's the current state of these types of publications.

OKCRealtor
07-13-2022, 03:53 PM
The author simply has no idea what he is talking about.

He's a wannabe food critic that merely hangs out in bars and restaurants getting as many freebies as he can (which is never disclosed), then writes about his 'friends' in glowing terms over and over again.

Now, they are using him in this 'business' publication because he's cheap and available. As far as I can tell, his only experience in business is holding up a bank at gunpoint (no, I'm not joking). That's the current state of these types of publications.

Greg Horton held up a bank?

Pete
07-13-2022, 03:56 PM
Greg Horton held up a bank?

Yes.

And spent time in jail.

He told me that within 5 minutes of meeting him and he mentions it all the time on his social media.