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PurinaHall0fFame t1_ixwflhq wrote

Life in general is becoming grossly unaffordable

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canibringmydog t1_ixwfdz5 wrote

We moved here from San Diego in 3ish years ago and now our rent is nearly the same we were paying there. We left to save money lol

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[deleted] OP t1_ixwfwva wrote

The most damning part for me is that I don’t feel like, if I’m going to pay this much money, the rest of the state matches the request. Crumbling infrastructure really puts a damper on the idea of really investing in a piece of property, and frankly, my proximity to any beach or outdoors activity RI and environs have to offer isn’t enough to offset it, either.

To each their own of course, but the value proposition is waning to me.

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Good-Expression-4433 t1_ixwhftt wrote

I moved to Providence during the pandemic and the cost of everything going up so much here kinda baffles me a little. Like don't get me wrong, I love Providence. I do not regret moving here but it often feels like Providence is trying to price itself into being more important and grand of a city than it really is. You could make an argument for cities in CA or like Austin or NYC or Boston but Providence seems dead set on following them when it comes to pricing people back but the only real selling points are "we're small and gay and oh Brown exists and we're a few hours to bigger cities."

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Status_Silver_5114 t1_ixwiu8f wrote

Cost of living increases aren’t unique to PVD or even RI. You’d be hard pressed to find a place you’d want to live that you can afford to move to that isn’t doing something similar.

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Good-Expression-4433 t1_ixwkreq wrote

Oh I know. COL is up everywhere. Mostly looking at the rent increases with places like Black Rock scooping up everything during the late stages of the pandemic. Over on Fed Hill and see their people everywhere as of late. Then every new apartment is overpriced "luxury" apts.

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Status_Silver_5114 t1_ixwlqgj wrote

Yeah the luxury thing I don’t get! ESP with a 1 hour+ commute to Boston who is making enough money in PVD to live there (or want to live there?).

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FunLife64 t1_ixwr0cx wrote

Every apt building advertises themselves as luxury. It doesn’t mean it is. The prices are still rather affordable (especially compared to Boston) and don’t forget many people work remotely.

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Status_Silver_5114 t1_ixws33b wrote

Yeah but pre COVID the difference between a 2 br here and BOS was substantial. BOS still more expensive but the gap is getting bizarrely narrow

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FunLife64 t1_ixwu0no wrote

It is?

A 700sq ft one bedroom downtown in a new building is $2000-2200.

A 700sq ft one bedroom in a new building in the Seaport is $4000-4200.

Not sure I’d describe that as a narrow gap.

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Status_Silver_5114 t1_ixyna2a wrote

Comps would be more appropriate to compare a 2 br in J.P. or rosi v east side. Used to be 2400+ before Covid to about 1600 tops. Now it’s 2400 to 1800-2000 routinely.

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Tortankum t1_ixwlyfg wrote

You understand “providence” doesn’t set prices right?

Prices are going up because people are paying.

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Good-Expression-4433 t1_ixwmit5 wrote

I'm not arguing that Providence the city government itself is doing it. Just pointing at the landlords and real estate investors that control our housing right now.

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Tortankum t1_ixwng28 wrote

You have no conception of how prices work if you think landlords are raising prices in an attempt to make providence feel “grand”

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Radrunner17 t1_ixwosp2 wrote

No, but they are raising prices to get a higher return.

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Tortankum t1_ixwrdzy wrote

Umm yeah that’s how capitalism works

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Radrunner17 t1_ixyb9oz wrote

Don’t try to “that’s how capitalism works” when you just said real estate investors aren’t trying to make Providence feel “grand”. You clearly don’t understand capitalism if you made that statement.

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FunLife64 t1_ixwqqqd wrote

Providence isn’t deciding anything. It’s based on supply and demand. There’s enough people that find those selling points attractive I guess!

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scagatha t1_ixwhys8 wrote

One reason why I came back from San Francisco is because I didn't want to live with roommates anymore. Now I still can't afford my own place but I have shitty weather, less social safety net and I have to drive 3 hours to go to Boston or take an overnight amtrak trip to NYC to see my favorite bands play.

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[deleted] OP t1_ixwlydq wrote

Man those are fighting words in this sub calling the weather shitty ;) Although I have to agree with you. The climate around here is not a small part of why I’m moving. It’s just a confluence of things, but you’re right; why pay this much for weather I’m not personally thrilled about?

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FunLife64 t1_ixwqm62 wrote

Everywhere along 95 is expensive. It’s not PVD. And none of those places have “great” weather. If you don’t like it you can leave but there’s a reason why New England has always been a desirable place to live.

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[deleted] OP t1_ixwrcb0 wrote

Why are you so abrasive with this comment? I said the infrastructure in RI doesn’t match the cost to live here. I said I didn’t like the weather. One is a fact, the other is an admitted opinion. I also said I am leaving.

Like, what’s your point? I’m not talking about things being expensive. I’m saying I don’t personally feel as if I’m getting my “money’s worth.” If you do, good for you. My leaving should make it easier to afford and someone else can have my space.

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FunLife64 t1_ixwuc9r wrote

Not everyone is the same. If the weather is your most important thing and you don’t like it…then don’t live here?

No reason to go complaining about places that a basic Google search may inform you is not what you’re looking for. You don’t need to put down the city because of it.

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[deleted] OP t1_ixwz6rd wrote

What are you talking about? I’ve lived here for 5 years? I have already said I’m… moving… because it’s not for me.

I’m sorry my comments have offended you. Have a good evening.

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boop-snoot-boogie t1_ixwrvyw wrote

Where in RI does it take 3 hours to get to Boston? Sometimes it doesn’t even take that long to hit the Bronx

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scagatha t1_ixxd2k6 wrote

Round trip

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boop-snoot-boogie t1_ixxfbdx wrote

Oh, you should take the Amtrak to Boston. It’s like 25 minutes from Providence to Back Bay and it costs $16

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scagatha t1_iy09avr wrote

I feel like I've explored this option and it always comes back to having plenty of transit options to get to the show in Cambridge but having extremely limited options past midnight or whenever the show lets out. I'm coming from south county so getting to providence is half the trip. It's very frustrating after living in SF where it was a short bus ride to see any show. Honestly it feels easier to take the NYC overnight trip from Kingston station but I'm not made of money and if I was I'd still be in Cali.

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boop-snoot-boogie t1_iy0hhk7 wrote

Oh I hear ya - I just moved back to Providence from Brooklyn. The transit situation is not ideal, though it could be much worse. I would say hit the Amtrak from wherever is closest to you (because driving on 95 is just a fucking nightmare in either direction) and get a cheap airbnb for the night - the further in advance you book, the cheaper it is. I used to work in Boston and commute from Providence and yeah, going out with coworkers after work was a very dangerous game of transit chicken where if you lose you get to take an $85 Uber ride.

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frombeyondthegravez t1_ixwfl4q wrote

Wow, that is shocking but also doesn’t surprise me. I would be livid San Diego seems like such a nice city. I knew it was getting bad when I saw the new apartments next to TJ go up for $4200/mo.

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canibringmydog t1_ixwg200 wrote

It was frustrating for sure. Friends back there are saying one bedrooms are going for $2500 in our old neighborhood there now but we would have been locked in with rent control (10% increase max a year) - something I very much wish this state had 😂

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[deleted] OP t1_ixwjanx wrote

[deleted]

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UncleJimmee t1_ixwmro3 wrote

Cuz ri is a great place to live. U will love it here

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FunLife64 t1_ixwr5an wrote

News flash…your place in SD is probably not the same price anymore either.

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V0nH30n t1_ixwg12p wrote

Specifically, it's the Boston commuters that are driving the current spike in rent prices (you know, most people's biggest expense?)

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katieleehaw t1_ixwgl8b wrote

The problem with LCOL areas is the jobs are usually even lower paying than they are here.

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D-camchow t1_ixwi45m wrote

We're just lucky Providence is livable with out a car. If we were still paying for car, gas, etc on top of everything else idk if we could keep up.

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UncleJimmee t1_ixwmymr wrote

Preach. Bikeable walkable. Gotta Love pvd for that alone.

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lateroundpick t1_ixwjvqx wrote

Unless you want to move to some god foresaken place like Alabama, unfortunately there aren't many options.

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Double_Farmer_2662 t1_ixwggq9 wrote

Having the same problem. Spouse and I make a little under $100k together, pre approved for $305k house, which the banks said would put our house monthly cost around $2k, no down payment. We’re currently looking under the $250k mark for a house, they need work, but we’re thankfully we are okay with that. We’ve seen at least 4 under $280k, that are move in ready, minor repairs, or cosmetic only.

I think your numbers seem a little off, but I still get your point. Housing prices are coming down, if you look at what they were 3,2 and 1 year ago you’ll see that we’re past the hump, working our way back down to cheaper. Ones were looking at were about $100k cheaper 3 years ago.

But our rent is $1200, so paying the extra for a house assuming you only pay for he next 30 years is better than an ever increasing rent, and paying for the rest of your life.

Places in CT are cheaper, but you pay for it in other ways (commute, amenities, car tax, etc)

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frombeyondthegravez t1_ixwgwfs wrote

My numbers are prob a bit different than yours because I’d be using a VA loan $0 down. That puts your payment around $2300 for 275k loan plus closing costs which are about another $8,000 out of pocket at closing.

$1200 rent is a steal right now so at least you have that going for you. I’m stuck paying close to $1800 for a 1 bedroom in riverside.

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Puzzleheaded_Ad_7204 t1_ixwolpp wrote

Bruh. Everywhere is becoming grossly unaffordable. Welcome to post-Reagan America.

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Mountain_Bill5743 t1_ixwh2gr wrote

If you're getting divorced are you at least getting income from the sale of your old residence? Maybe check out a condo (but they're still up massively over a year ago).

As gross as the $2300 house payment is, that's around the average list price for a 2 bedroom these days (2200ish) which is why that mortgage seems more appealing.

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401jamin t1_ixwl9ss wrote

I’m starting to feel the pressure. My credit cards are incurring balances that don’t get paid of, my groceries are much more expensive for less, and the only past time I have is being home. Im holding on till I get my card and the big pay bump. Then I can live how I was living prior.

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vegemouse t1_ixwljd6 wrote

This is the case everywhere unfortunately. I think it’s happening less in Providence than in other major areas which is sad.

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FunLife64 t1_ixwrn20 wrote

People on here have no sense of reality outside of RI. Only Rhode Island has bad drivers, rising rents, bikes vs cars arguments, etc.

We have empty plots of land in the city that people are fighting against development - including housing - because it may alter the skyline…like we have the f-ing Eiffel Tower or Washington Monument to showcase.

Pvd is still cheap compared to Boston, which I believe has surpassed DC and only behind NYC, LA, SF and Honolulu. I lived in DC, NYC and SF - I would never be able to buy something I actually wanted. I moved to PVD and bought an awesome place that would be at least 3x as expensive in those markets.

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Mountain_Bill5743 t1_ixx21u6 wrote

Saying PVD is cheap relative to those cities is like saying a car is affordable relative to a lambo, high end tesla, and Land rover. Those cities you listed are all world class cities which are well known world wide as destinations for their job opportunities, natural wonders, etc.

I love it here, but I've lived in several places that are similar Town and Gowns and none of them are on the world stage either or economic powerhouses, but they are still significantly cheaper these days.

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FunLife64 t1_ixyyb9x wrote

I mean that’s your opinion I guess? Providence has a lot of desirable things that clearly make it popular. I’m the first to say PVD could be doing much better to attract better jobs - it’s surprising that it hasn’t blown up way more than it could (hence why I referenced the red tape and resistance to economic development).

It’s not like Stamford or Norwalk are cool world class cities but are popular and expensive. New England near the water near big cities will always have a desire as long as not a dumpster fire. And there aren’t many options for that. And with work flexibility, a commute to Boston a couple/few days a week isn’t much. Pvd is basically a suburb of Boston at this point….for a family it’s highly attractive with a cola of 50% that of Boston.

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nicknyce2k1 t1_ixwpk4m wrote

The word recession has entered the chat

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MUNCHB0X t1_ixwih3h wrote

I don't know where you're only finding 17 houses for sale under 300k. I just checked Zillow 200-300k range for houses only, and came up with about 100 listings. I do agree that real estate is incredibly high, which is tempting me to sell mine for something bigger, but that means a bigger payment as well.

Try a different method of searching, or reach out to a realtor to help you find something in your price range.

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frombeyondthegravez t1_ixwir7p wrote

I do have a realtor, I get the MLS listings sent to me each day. Filter hide pending/contingent, filter no 55+ communities, filter FHA/VA friendly there’s no where close to 100. Then consider how many of the ones that are listed don’t need to be completely rehabbed

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Status_Silver_5114 t1_ixwueux wrote

You’re only looking for fha and va friendly property? No wonder you aren’t seeing anything. That filter is always a prospect killer.

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Status_Silver_5114 t1_ixwj3to wrote

It’s also November so there’s a lot Less on the market right now and lots of stuff has been sitting bc it’s either overpriced and/or the mortgage rates. The market should come down a tiny bit but there’s such won’t up demand don’t expect the numbers to drop much.

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FunLife64 t1_ixwsf28 wrote

RI definitely has real estate seasons. I used to think that wasn’t really a thing anymore…but it is. People wait til the spring to list.

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Status_Silver_5114 t1_ixwsl5c wrote

For rentals for sure!! Selling market dips in the NE after pctober. But PVd is town and gown time for sure.

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FunLife64 t1_ixwtfco wrote

I was talking about sales. Most listings are spring/early summer. After July 4 it really slows.

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Status_Silver_5114 t1_ixwtzyi wrote

I work in RE / there is also a fall market for sales. Everything went off a cliff this fall bc of mortgage rates. That’s unusual.

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werewolfmanjack t1_ixwqxx8 wrote

I don’t want to be insensitive but my position is always… no one is entitled to live anywhere in this country. I’ve had to live in depressed areas and cities until I was able to afford it here, and I also may have to leave. There’s so many affordable places in this country that people brush off as being not worthy of them… when in fact, they are, and are better than we know. When circumstances make habitation unlivable… you hedge your bets on somewhere else. It seems so much easier to even do today than 50 years ago with the internet and easy travel. 100 years ago you may have moved and never see your family again. Now that’s not an issue.

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