What do you think about a development in somewhere like Downtown Houston that only allows those that work within the CBD and age limit 22-35. The development would copy what dorm life in college was like. You'd have a building with lots of units that would allow you to purchase 500 square foot efficiency units for 200/psf or $100K. If you change jobs or exceed 35 you're forced to sell. That keeps the price low compared to other housing unit like in age 55+ communities. The idea being the place is basically only there for you to sleep and force you to socialize with public spaces for everything else nearby like college.

This would allow young people to have a place close to where they work, cheap enough to buy so they build wealth instead of paying rent, and opportunities to socialize and meet people close to where they are in life. We have age 55+ communities and there are some master planned communities that have social directors to bring people together and neighborhoods with amenities like private gyms. I think the same thing could work for young people.

It'd be a nice recruiting tool for those corporations in downtown and make downtown more liveable which the city is trying to do.

You obviously haven't seen the places college students live in these days. For many/most, they are the nicest places they will ever live in. They will view your idea as borderline inhumane conditions

True. It's that or live at home with mom and dad taking each others blood pressure at the kitchen table.

So this is the part where the results of The Party's disastrous policies (which are completely unnecessary btw) are used as an argument to adopt a more dystopian lifestyle?

How are you going to build wealth if you are forced to buy and sell at $100k?

jopatura said:

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How are you going to build wealth if you are forced to buy and sell at $100k?

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The units won't stay at $100K. Over time it will appreciate but at a slower rate because the market would be smaller. It's like 55+ communities. And if prices don't appreciate, you're still better off because the interest, taxes, and hoa would be cheaper than rent. Plus you have a forced savings with the equity you are building.

If there was a way to make money on this sort of nonsense, we'd see it happen.

How about just quit voting for leftists?

Doesn't matter. Not legal.

Ah, the good old housing projects. I remember the late 70's and 80's a little bit. I know a low cost housing project was NOT where you wanted to live if you wanted to live very long. The intent is good, but the execution is that it collects people more likely to be sociopaths and if you try to be selective to prevent crime you get sued for discrimination.

Dan Scott said:

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The idea being the place is basically only there for you to sleep and force you to socialize with public spaces for everything else nearby like college.

This would allow young people to have a place close to where they work, cheap enough to buy so they build wealth instead of paying rent, and opportunities to socialize and meet people close to where they are in life. to do.

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I wasn't aware there was any issue with opportunities to socialize. Downtown Houston, or any big city, wouldn't seem the best place to be socializing. Too many underbelly types, crime, homeless, etc. to have much appeal.

ThunderCougarFalconBird said:

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If there was a way to make money on this sort of nonsense, we'd see it happen.

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I don't think the demand for something like this was there 10-20 years ago. Young people care more about their carbon footprint, they are not get married early, want to live close to work, and housing in unaffordable now.

I was looking at houses in Houston's 3rd ward. That place is a ****hole. They have townhomes $500K plus or rent $3,500 for 2 bedrooms.

If you believe it'd be profitable (it won't), you should go to the bank, get investors, and get after it... post your results here.

MouthBQ98 said:

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Ah, the good old housing projects. I remember the late 70's and 80's a little bit. I know a low cost housing project was NOT where you wanted to live if you wanted to live very long. The intent is good, but the execution is that it collects people more likely to be sociopaths and if you try to be selective to prevent crime you get sued for discrimination.

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How do age 55+ communities get away with it? This would be age restriction 22-35 and work for a company within CBD.

Age discrimination laws won't allow this.

Oddly, the law pretty much only allows for discrimination that works in favor of the older population. Most likely because olds write the legislation and comprise most of congress.

https://www.whhoa.com/home/

That's an age 55+ community in the Woodlands. You can go on HAR and see homes for sale. Not realizing it was 55+ I asked my realtor about it and she said they wouldn't allow seller to sell to me.

Interesting idea. Would have to be able to discriminate with the buyers so I'm sure there would be issues with the government

Dan Scott said:

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MouthBQ98 said:

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Ah, the good old housing projects. I remember the late 70's and 80's a little bit. I know a low cost housing project was NOT where you wanted to live if you wanted to live very long. The intent is good, but the execution is that it collects people more likely to be sociopaths and if you try to be selective to prevent crime you get sued for discrimination.

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"How do age 55+ communities get away with it? This would be age restriction 22-35 and work for a company within CBD.

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Title VIII of the Civil Rights Act of 1968, the Fair Housing Act, prohibits age discrimination in housing. A 1988 amendment to the act created an exemption for housing for adults age 55 and over as long as it provided facilities and services designed to meet the physical and social needs of the elderly."

https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_071213.htm

Was this thread started by AOC???

Kansas Kid said:

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Dan Scott said:

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MouthBQ98 said:

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Ah, the good old housing projects. I remember the late 70's and 80's a little bit. I know a low cost housing project was NOT where you wanted to live if you wanted to live very long. The intent is good, but the execution is that it collects people more likely to be sociopaths and if you try to be selective to prevent crime you get sued for discrimination.

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"How do age 55+ communities get away with it? This would be age restriction 22-35 and work for a company within CBD.

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Title VIII of the Civil Rights Act of 1968, the Fair Housing Act, prohibits age discrimination in housing. A 1988 amendment to the act created an exemption for housing for adults age 55 and over as long as it provided facilities and services designed to meet the physical and social needs of the elderly."

https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_071213.htm

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I'm reminded of that Ayn rand quote about government that is something like "the people who make no money or create jobs telling me how to create jobs"

Dan Scott seems lonely

Sounds like selling Law and Puryer rooms built in downtown Houston.

Kansas Kid said:

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You obviously haven't seen the places college students live in these days. For many/most, they are the nicest places they will ever live in. They will view your idea as borderline inhumane conditions

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My kid made the first visit to Aggieland as a potential student. The wife had previously stated that kids don't do two students/bedroom anymore in apartments. "they just don't do that anymore, you are not in school anymore..."

Potential Student: "If I live in a dorm, I'm gonna have a roommate."

Wife: "$%@#

Me: "it works in apartments as well, if need be..."

Wife: "$%@#

Potential Student: "Yup, if that what it takes to go there..."

Wife: "$%@#



So, WTF happened to going to school/university a damn country club? The only time I had an apartment/condo was when in lived in a condo that a buddy of mine's parents owned and it just happened that the last semester of my university time he co-opped for future employment and I paid the parents rent..

The solution is to work hard, get a real degree, get married, join/go to church, live within one's means, and be a good member of society.

It's not even a novel idea, it's been tried/tested a few times over the years.

So you want to make GOB's Singles City?

I rented a home in a 55+ community when I was 32. We had great neighbors and thoroughly enjoyed it

Didn't Adam Neumann try this concept as a spinoff from WeWork? Why don't you see how that's going for him.

This sounds terrible but perhaps there is a segment of recent grads who go for it. Who is going to provide the financing for these $100k units?

Recent grads are not generally the folks with 750+ credit scores.

I'd predict that any person who does have decent credit will laugh at what you're proposing if their alternative is buy their own house, townhome, apt, etc. for a similar interest rate.

Dan Scott said:

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What do you think about a development in somewhere like Downtown Houston that only allows those that work within the CBD and age limit 22-35. The development would copy what dorm life in college was like. You'd have a building with lots of units that would allow you to purchase 500 square foot efficiency units for 200/psf or $100K. If you change jobs or exceed 35 you're forced to sell. That keeps the price low compared to other housing unit like in age 55+ communities. The idea being the place is basically only there for you to sleep and force you to socialize with public spaces for everything else nearby like college.

This would allow young people to have a place close to where they work, cheap enough to buy so they build wealth instead of paying rent, and opportunities to socialize and meet people close to where they are in life. We have age 55+ communities and there are some master planned communities that have social directors to bring people together and neighborhoods with amenities like private gyms. I think the same thing could work for young people.

It'd be a nice recruiting tool for those corporations in downtown and make downtown more liveable which the city is trying to do.

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Great, take your idea to a bank, and get a loan to start this.
DO NOT ASK THE GOVERNMENT FOR THE MONEY!

That is all.

Dan Scott said:

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What do you think about a development in somewhere like Downtown Houston that only allows those that work within the CBD and age limit 22-35. The development would copy what dorm life in college was like. You'd have a building with lots of units that would allow you to purchase 500 square foot efficiency units for 200/psf or $100K. If you change jobs or exceed 35 you're forced to sell. That keeps the price low compared to other housing unit like in age 55+ communities. The idea being the place is basically only there for you to sleep and force you to socialize with public spaces for everything else nearby like college.

This would allow young people to have a place close to where they work, cheap enough to buy so they build wealth instead of paying rent, and opportunities to socialize and meet people close to where they are in life. We have age 55+ communities and there are some master planned communities that have social directors to bring people together and neighborhoods with amenities like private gyms. I think the same thing could work for young people.

It'd be a nice recruiting tool for those corporations in downtown and make downtown more liveable which the city is trying to do.

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You could call it Logan's Run.

First thought; it sounds illegal due to age discrimination.

So hedge finally moves out of his mom's basement, buys a unit, hits 35, and is forced to sell his unit at a loss?

Sounds like a win-win to me.

Aside from the older people writing laws and voting as already mentioned, the massive difference in 55+ communities is the owners aren't kicked out once they reach a certain age.