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Visualizing Why Everyone Should Move From Detroit To Seattle
Between stagnating incomes and centrally-planned spillovers into housing and transportation costs, workers in this country are increasingly pressured to move to more 'all-in affordable' areas (if they can). As a recent study by the Center for Housing Policy shows, the housing and transportation cost burdens of moderate income households living in the 25 largest metro areas problem is getting worse; moderate-income households pay a disproportionate share; Moderate-income homeowners carry heavier cost burdens than renters; and the combined burden of housing and transportation costs is greatest where costs are out of sync with local incomes - not always the places with the highest absolute costs. Of course QE is designed to 'help' homeowners... and yet the middle-class continues to be squeezed.
Via The Center for Housing Policy:
The problem is getting worse. Housing and transportation costs rose faster than income during the 2000s, increasing the burden that these costs placed on already stretched budgets. This held true for each of the 25 largest metropolitan areas, though the disparity was greater in some areas than others. For all households, including homeowners who have paid off their mortgage, housing and transportation together consumed an average of 48 percent of the median household’s income by decade’s end.
Moderate-income households pay a disproportionate share. For households earning 50 to 100 percent of the median income of their metropolitan area, nearly three-fifths (59 percent) of income goes to housing and transportation costs. For these households, the growing costs of place1 are particularly burdensome, leaving relatively little left over for expenses such as food, education, and health care, not to mention savings.
The combined burden of housing and transportation costs is greatest where costs are out of sync with local incomes; these are not always the places with the highest absolute costs. In some metro areas, such as Washington, DC, Boston, and San Francisco, high costs are matched by relatively high incomes, helping moderateincome households better afford their housing and transportation costs. But other regions, such as Riverside-San Bernardino, CA, Miami, and Los Angeles, have moderate or even high housing and transportation costs in spite of relatively low median incomes. In these metro areas, combined cost burdens for moderate-income households are very high, with average burdens ranging from 65 to 72 percent of household income.
Transportation costs still shape differences in the overall affordability of metro areas. Six years later, it remains as important as ever to consider transportation costs along with housing prices in measuring overall affordability. The inclusion of transportation costs affects the relative affordability of many metro areas. For example, housing costs in the Houston region are comparatively affordable as a share of income, ranking eighth out of the 25 regions examined. When transportation costs are included, however, Houston drops into 17th place, as one of the less affordable regions for the combined costs of housing and transportation. In contrast, metro areas such as San Francisco, Boston, and New York are some of the least affordable regions for local moderate-income households when just housing is considered, but are among the most affordable when housing and transportation costs are considered together.
Moderate-income homeowners carry heavier cost burdens than renters. For the typical moderate-income renter, housing and transportation costs consume an average of 55 percent of income. Moderate-income homeowners carrying a mortgage face average costs of nearly 72 percent of income.
Cost burdens for moderate-income households vary substantially within metro areas. Even in metro areas where average cost burdens are relatively affordable, there are many neighborhoods that are out of reach for moderate-income households. In the Philadelphia region, for example, moderate-income households are faced with average housing and transportation costs exceeding 90 percent of their income in some neighborhoods.
Despite lower burdens than homeowners, moderate-income renters are still barely making ends meet in many metro areas. In the Los Angeles metro area, where average housing and transportation costs consume 61 percent of income for moderate-income renters, a typical renter household would not have enough left over at the end of the month to pay for food, health care, and other basic necessities. This would suggest these households are either cutting corners on essentials, or accruing debt.
And here is why people should move from Detroit and Atlanta to Pittsburgh and Seattle (click image for larger - eligible - version) as the ratio of growth-in-costs to growth-in-income for the median-income household is 4.54 in Detroit versus a 1.16 ratio in Seattle:
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8 mile fallout.
Not sure anyone cares, but a few years ago I bought a house in an urban area at the peak. I mean THE peak (Sep 2007). Fucking ex wife. Still costing me money. However, I insisted on 1 to 1.25 annual income as the cap. Further, as an engineer, I bought a brick shit house. I probably sank 10% of the total price in core repairs/improvements. The place is now Cadillac in terms of lifestyle.
The property is less than seven miles from down town (i.e. the high rise towers of the city center) and on a bus route. It is also close to very affluent areas, just on the other side but still blue collar.
My rationale at the time was; I can afford it and I can afford the energy to get to work.
After a divorce, eviction of the ex wife, and placement of new tenants, and after a serious consideration of the specter of foreclosure, I put my chips on my instinct. I put the cash in required to keep it.
Why? The suburbs will collapse due to energy costs.
Think I am crazy? I live in AK and I am about 1.5 miles from my job. Working for a 100% renewable energy producer. With a bus option to get to work (if I don't get pissed and decide to walk).
Suck it hippies. I eat lots of salmon and moose die next year. And you can't walk my walk, you just talk it.
Regards,
Cooter
P.S. The last time I shot off my mouth, I came in way south on a responder. Sorry about that. I don't keep score, but I took a licking on that. Pony up for your chips because I am online a while. Ooops!
Fuck, they have high rises in Alaska?
I moved to AK because, per my read of the tea leaves, it was time to get the hell out of dodge. While I am 12 months behind my schedule, I hope to hunt/fish instate in the next 12 and stock the shit out of my freezer. Rice is damn cheap to pile up. So, I am good to go.
I am VERY happy here and hope to stick around many years. I have a list of gripes, but it isn't a relavent issue.
The fact that my place in TX is still (sorta) above water is an expression of my values during the bubble. If Ben wins, I come out ahead in nominal terms. If Ben loses, I have very little down side just based on math.
I bought a good house, with good location, at a low price, put some cash in to fix the short list of issues, and now I got something that will at least break even. Well, other than my pile of old coins.
Regards,
Cooter
P.S. To be fair, I have (and continue) to work fast food to float the boat during the "sqeeze". I have had this sort of work ethic my whole life, from fixing everything on my VW beetle in college to now where I make burgers at McDs to fix the math. I have had professional employment as an egineer the whole time ... it just wasn't enough. But you know what ... it was "transitory" ... and now I am about ready to quit and start on an employer footed degree in accounting. And the pay is a lot better. And I am caught up now.
Work ethic bitchez.
Breaking News-The cities of Detroit and Pittsburgh have agreed to a merger. The new city shall be known as DePitts.
I would love to see everyone from Detroit move to Seattle...it would be a marked improvement to both cities...
The problem with detroit (and has been all along) is demographics.
But, that is the problem with the west.
Pay heed, listen, and observe.
Regards,
Cooter
Care to elaborate on Detroit's problem being the demographics? Electronic communication sometimes leaves to much between the lines to be read wrong. Thx -R
Looks like three borders of advertisements are not enough. Monetization has now unfortunately taken over pop ups. On the iPhone it is distressing. A sad day for Fight Club.
Chrome
Gosh, will everyone just get over it already. Monetisation. That's how it works.
What you think, you get it for free?
The "internet" is in many ways a "free lunch" culture, and as always it is a function of ignorance.
I like my free information, my free ideas, but I never expected it to be a free ride. After all, I get an amendment, but bets of luck trotting that shit out at a protest.
Every minute spent at a PC is "shit spewed into the air" at the local utility to generate power, infrastructure spent by the internet utility, and time invested by the content producers to say something people care about. In the middle of all that is Google helping you find it.
Monetization is precisely how this process continues. But, I think I reaffirm the comment.
Regards,
Cooter
Now just imagine when the interest rates rise... wouldn't surprise me if we see in the future headlines like : 1 million + homeowners kicked out of their homes in the last month.
Tigers
Ford
GM
OK, one out of three
Seattle? yuk. so depressing, too much rain and neckbeards.
Guh-ross! Prolly hair on their backs, too.
<shivers>
:/
"...neckbeards"
And that is just the women. Depressing in itself!
That's the plan.
It keeps the riff-raff out.
"....Of course QE is designed to 'help' homeowners..."
horse crap! qe is designed to continue bankster bonuses, bail them out of their criminally incompetent business failures, and to rape and plunder amerika for the rockefeller axis of evil and the bush crime syndicate.....
I love the 7 mile - Hoover area -- it's to die for. Used to have nice courts at Harvey Barcus (Farwell) but they stole all the fencing that surrounds the 24 courts making it difficult to fetch stray balls
stray bullets
3 bedroom brick homes are 5-10k here, this survey has its head up is ass.
Detroit is do-able. Just live in a van
http://cheaprvliving.com/howtoconvertavan.html
http://www.salon.com/2009/12/07/living_in_a_van/
http://telstarlogistics.typepad.com/telstarlogistics/2006/09/what_is_telstar.html
Good links!
The talking heads on the local news were just trumpeting this as a 'good news' story. They said phoenix is an 'affordable' city, like Detroit!
Phoenix? It's ok. Excluding the housing market. Bad sheriff. Food prices going up. Everything's spread out, so it costs gas to get anywhere. Gotta be able to take the heat. I'll be moving north soon, fewer people, fewer problems.
Detroit? If everyone moves to Seattle, who will commit the crime?
I'd love if the *ahem* demographics of Detroit moved to these "keep _____ weird" cities on the Pacific Westcoast.
The videos of skinny fat hipsters getting punked around on Worldstarhiphop.com videos would be so worth it.
Give them their diversity. Forward.
Oakland is *ahem* demographically like Detroit. It was like a little piece of home in the bay area.
Typical East Coast Trash
It cost just over 10k a year for me and the wife to commute to work(LI to Manhattan). In March my subway fare is going up and my monthly LIRR pass is going up another 9%. This will be the 3rd increase in 7 years. My salary can not keep up. The service doesn't get any better!!! All of these increases go right to the unions. NY will be toast in 10years. I can't wait to get the F out of here.
I do the LIRR commute, too. Luckily I can walk from Penn Station to work, so that cuts out any subway fare for me.
It's killer and a slap to the face when you find out how much money these "ticket please" conducters make.
Toll booth operators ... $120k a year.
Soon this will mean moving out of the US entirely.
Yeah, I hear the Moon is lovely this time of year.
Welfare recepients won't go there. ObamaPhones don't work on the moon.
visualizing is great but if you're blind it sucks
as does being tased
http://news.sky.com/story/998967/blind-man-tasered-as-cops-mistake-stick...
Blind Man Tasered As Cops Mistake Stick For SwordUseless eaters.
"............Why Everyone Should Move From Detroit to Seattle"......
NOW you've done it! Now you've REALLY done it!
They should raze Detroit and move them all to ChiTown, not Seattle.
Let Barry O and his lil buddy Rahm figure it out.
Or they could raze chitown & move to detroit...
Not much difference either way ....
Wouldn't it be cheaper to move them to Windsor?
Winters are much harder once you cross the river. ;-)
I sold my 1,400 sqr ft 1927 Seattle home 10 years ago for almost half a million dollars. Seattle is retarded. I now live in a crumbling 1957 rambler in the desert of eastern Washington State. I'm retarded.
Sounds about right.
funny shit. I do the Tom Hanks Money Pit laugh everytime my wife points out something else the f'n house needs done.
http://www.youtube.com/watch?v=Gbp_JQ7RxqM
I assuming here that when you say 1957 Rambler you mean a car....
This site officially sucks now because of the ads. If they don't fix it, then I know many of us will not return. Tyler, from what I've known of this site for years you're working to fix this. If not I guess I had too much trust in you guys.
Ads? What ads? I don't see anything.
/using firefox
Yes, yes
Move Detroit to Seattle, with my blessing. Seattle is a bunch of Socialist commies that think the rest of the state should support the poor, homeless, disenfranchised and every other variance of the social state. Good chance to show the moderate income fucks just what socialism is about.
ha-ha, I can only wish.
Use adblock ... I see nothing, sorry TD
What about you donate...
Just the Minimum wage alone in Seattle (and all of WA state) has gone up 40% since 2000. In January of 2013 it goes up again to $9.19 and hour. The highest in the country I think...So PLEASE Zero Hedge, DO NOT ENCOURAGE PEOPLE FROM DETROIT TO MOVE HERE.
I grew up on an island here. It was great, but now we have masses of Genetically Modified looking people roaming the streets...Women fat as doorways; Men who speak like hicks and missing teeth, and children who look more like Honey Boo Boo than Shirley Temple.
Most of that has happened with the current Governor Greigoire, who is ruining the state with socialism.
She is giving out free medical care to illegal immigrants, as well as drivers licenses to anyone who pays the fees.
Truth, every word... fled to the coast years ago and it was swell. Now, every weekend the population doubles, the smell of McDonald's grease fills the air and we just hunker down and wait it out.
Passing I502 will be a breath of fresh air, but I still can't have a lid in my closet and the fees for a first-year producer will be north of $1250.
Greigoire sucks.
nooooooo, don't tell them to come and ruin my city!
American Dream Nightmare. Unions are the cartelling of the human resource.
If everyone in Detroit moved to Seattle, then Seattle would become like Detroit.
And, of course Detroit would become like Seattle ... Oh, except for the weather
Reminds me of an old saying: "There's no such thing as a ghetto. There are only ghetto people."
Seattle is a dangerous city to live in. That Cascadia Fault line is going to snap and the resulting tsunami will kill most, and that is if Mt. Raainer doesn't blow first...ditto for Vancouver or Portland
Detroit is a dangerous city to live in too.
http://www.neighborhoodscout.com/mi/detroit/crime/
The houses are not that cheap after you factor in the security guards.
Ouch
I'm in PDX - so tell me, which will happen first...any number of natural disaster you enumerate or the Ponzi disaster hits? I've been hearing bout both for quite some time but neither seems iminent? All the same, I'll put my money on Ponzi collapse before Mt. Hood blows or Cascadia snaps...and Portland seems as nice a place as any to take it in.
You must be insane moving east to west.Everybody else is moving to opposite dirrection.
Just packing up and moving away from Seattle.---I've had enough of the crappy weather, the traffic and people are just plain getting grumpy. 37 years ago, I would have told anyone to move here, anyway someone else will fill my spot.
Maybe 37 years ago you were less grumpy ... perspective has a lot to do with it. I mean given your handle 'callmestupid' may just be a reason for leavng Seattle.
Gotta say most who are "aware" are not made happier by the knowledge they glean. Stepping out of the consensus can be pretty painful...particularly when it's for great periods of time before recoupling with society (if ever). And Seattle does kinda suck compared to Portland...
Stupid,
What libtard-free paradise you moving to?
Columbus, Ohio is good up until the election.
Great place to vist in the summer. Parked me a Bayliner in Bremerton, great mooring fees and visit my son in the summer. Arkansas summers suck!
Expensive real estate and expensive to live in Seattle. Beautiful state and if the wife and I want to head out in the boat to another location fire her up and off we go. I was shocked to find out how big the live aboard a boat crowd is in Washington.
Blacks don't like boats .... since the slave ships .... plus they don't swim well .... sounds like Washington liberals white flight .... with deniability of their own racism !
I think I would disagree with this article. After finishing The Long Emergency, I would be inclined to bet on Detroit. The thing is, there are THOUSANDS of people who live around the Great Lakes who bought 20-30 foot sail boats and use them every season. So if trade does revert back to 19th century then Detroit may just rise again.
Everyone talks about income taxes....but its the fees ...licenses...subscriptions....tolls...regulations...that the governments are killing us with....they have all gone up...and they are making new ones...
Detroit should share it's black, welfare treasure with Seattle .... for the pure Socialist egality and altruism of it ! Think about all the welfare checks they would bring with them .... and maybe a little urban rot .... kind of an inner city bleeding heart transplant ! Oh the humanity ! www.blackwhackattack.com Monedas 1929 Comedy Jihad Slumlord World Tour
recent advertising campaign about Detroit was SAY NICE THINGS ABOUT DETROIT .... my contribution is I got shot at but it was only a flesh wound
Detroit the land that Democrats controlled forever and a day, black and white
in Detroit you can gets lots of free copper within abandoned buildings
I got a great education in Detroit learning when to duck in and out of alley ways
on the bright side I do get extra combat pay when my firm sends me into Detroit
GOOGLE FORECAST:
As mentioned Oct 15 - days before premature earnings release sell off - GOOGLE daily / weekly / monthly charts are overextended & significant correction expected.
http://trader618.com
http://www.zerohedge.com/news/2012-12-24/market-analysis
I remember being taught that housing shouldn't cost more than 25% of one's income