Black Wealth in PG County (MD) Dashed by the Housing Crisis...

[rico x hood]

NoVa is a heavily diverse area. We have large Hispanic, Asian, and African populations. But as far as black Americans, you're kind of right.

Because the allure is only there for locals haha ppl arnt flocking to NoVa. Theyre flocking to the jobs

Best schools in the country, steady home prices, close proximity to DC bit without the big city feel. That sounds greatly alluring to me. But I guess that's just me.

 

[jewseejay]

NoVa is a heavily diverse area. We have large Hispanic, Asian, and African populations. But as far as black Americans, you're kind of right.
Best schools in the country, steady home prices, close proximity to DC bit without the big city feel. That sounds greatly alluring to me. But I guess that's just me.

I will give u schools... Very legitimate reason for well off young families to be there. But nothing about DC speaks to me as a suburbanite young father. Maybe if u were into the singles scene but in that case minus whale get a apt/condo in the city. Gunna be payin the same prices haha

Other than that its an extremely regional hot spot. Dat traffic :x

Alot NoVA people have second homes here on the shore or chincoteague. Dudes with 100k "toy" boats. Plural.

 

[mr marcus]

Pretty interesting thread

 

[nazdrowie]

ugh these threads always denigrate into pissing contests between MDers and VAins 

 

 

[RustyShackleford]

NoVa is a heavily diverse area. We have large Hispanic, Asian, and African populations. But as far as black Americans, you're kind of right.

Because the allure is only there for locals haha ppl arnt flocking to NoVa. Theyre flocking to the jobs

Best schools in the country, steady home prices, close proximity to DC bit without the big city feel. That sounds greatly alluring to me. But I guess that's just me.

Like someone can't move to MoCo and get the same damb thing

Plus UMD offer one of deals deals in education. Highly regarded university at only around $4500 a semester on the east east

-Keep it #1HUNNA brah, you hate MD because it is a liberal *** state, and the taxes are high . Both things you have voiced your displeasure over multiple times

 

[flyny]

oxon hill , suitland always been ratchet 

They got the best strip clubs tho, my G

 

[RustyShackleford]

oxon hill , suitland always been ratchet 

They got the best strip clubs tho, my G

Don't VA strips clubs make girls keep on their tops and bottoms too

 

[RIP sleazyy]

Va strip clubs are complete trash unless you know a dancer/get in ones ear.

 

[RustyShackleford]

Anyone know the % of Black Businesses in the Area? Good Jobs isn't wealth because you can't pass that down, and if the Govt has budget cuts and cuts a ton of jobs, many of these people will be looking sick. Thats just my opinion though.

Federal Budgets cuts usually don't result in massive layoffs. Worst is that there will be less new jobs created, wage freezes, and furloughs

Job security are one of the perks to working for the Federal government.

-Second the area is not all government jobs, but yeah, but cuts and the state and Federal level usual ripple through all sectors

 

[boxer15]

I was born and raised in Arlington and the gentrification has in the DMV has been going on forever, it's just a lot more pronounced now. 

I was home for Christmas and met up with one of my old homeboys by his work near Galluadet University and having worked in that area back when I was in high school, it has completely changed.  I remember grabbing lunch in the Yums with the bulletproof glass counter front and now the swap meet style market is a hipster paradise.

Back before I left the area in 2007 the same predatory loan business was starting to get press because realtors in MD were fudging the books to get people into huge houses they couldn't afford.  I remember one family that was renting a tiny spot to live in while trying to sell the house they could no longer afford, but the market was shot so they were just hemorrhaging money.

 

[keel252]

ugh these threads always denigrate into pissing contests between MDers and VAins   

Who pisses for NoVa beside that dude Rico

 

[Hahahaha]

This is an interesting topic. It's pretty crazy how much money there is in NOVA. But even certain areas of Southern MD cats are LOADED. Bethesda and Chevy Chase got so many million dollar cribs.

NOVA is so damn unreasonable. Would love to move to McLean or Arlington but just can't afford it alone. You need multiple roommates for that. Alexandria got a bunch of new town houses and condos going for 800K to 1.6 mil. Springfield getting a facelift too. It's scary how expensive **** is getting around here.





VA has the weakest strip clubs in the US. Hahaha, they're sad. Ecstasy, Fuego and them joints are all money.

 

[11wordisbond]

I read the first article, and I'm thinking why the eff are these people living way above their means, knowing they can't afford it. Edith Garner is 58, recently diagnosed with Parkinson's, is on disability and is holding onto a house that is 2,200 square feet and lives by HER DAMN SELF.

"Garner lives alone. She’s unable to afford a home-health aide and earns too much in disability to receive one under Medicare.

“Who is going to call 911 if something happens to me?” she asked.

She hired an attorney to help her get a further mortgage modification. In October, her modification came through: Her mortgage is now $1,465, which she fears is more than she can afford.

“I don’t want to lose my home,” she said.




Then you got Alonzo M. Walker Sr., a 56 year old pastor, who bought a $1.1 million 6000 square foot home (wife had a stroke and isn't working).

".... the house has lost a lot of value — Walker says it is worth about $650,000.

“I know my money is just disappearing into this house,” Walker said.

Despite the cost, Walker wants to stay.

“I never thought a kid from LeDroit Park could have a place like this,” Walker said. “I just can’t walk away.”

 

[mr marcus]

Pastor with a 1.1 million crib deserves to lose their ****

 

[nazdrowie]

Fuego 

i started a thread in the local forum about fuego asking if it was fun and everyone was like yea, but i have yet to venture there 

 

 

[jjs07]

NoVa is a heavily diverse area. We have large Hispanic, Asian, and African populations. But as far as black Americans, you're kind of right.
Best schools in the country, steady home prices, close proximity to DC bit without the big city feel. That sounds greatly alluring to me. But I guess that's just me.

I will give u schools... Very legitimate reason for well off young families to be there. But nothing about DC speaks to me as a suburbanite young father. Maybe if u were into the singles scene but in that case minus whale get a apt/condo in the city. Gunna be payin the same prices haha

Other than that its an extremely regional hot spot. Dat traffic :x

Alot NoVA people have second homes here on the shore or chincoteague. Dudes with 100k "toy" boats. Plural.

Who in NoVA has a 2nd home in Chincoteague?

Maybe out in St. Michael's or somewhere else on the eastern shore of MD....but no one is having that 2nd crib out in Chincoteague bruh

Another thing...if you're young and single, living in Clarendon (if you can afford it) is the spot to be in NoVA.


*Did anyone read part 3 about the Boateng family?

That **** is infuriating. Part of me feels bad about their situation, but another part of me is because they kept putting their trust in people they shouldn't, and took out loan after loand after loan.

I mean, if your family is grossing 110K, there is no reason for you to be buying a 600K house.

Long story short, they are now over 1 million dollars in debt and haven't paid their mortgage in 5 years or so....

 

[hennessy]

You're all bammas.

But seriously, always love topics about living in the DMV. I did MoCo for 2 years now I'm in NE DC. Have never really ventured into VA.

 

[11wordisbond]

Who in NoVA has a 2nd home in Chincoteague?

Maybe out in St. Michael's or somewhere else on the eastern shore of MD....but no one is having that 2nd crib out in Chincoteague bruh

Another thing...if you're young and single, living in Clarendon (if you can afford it) is the spot to be in NoVA.


*Did anyone read part 3 about the Boateng family?

That **** is infuriating. Part of me feels bad about their situation, but another part of me is because they kept putting their trust in people they shouldn't, and took out loan after loand after loan.

I mean, if your family is grossing 110K, there is no reason for you to be buying a 600K house.

Long story short, they are now over 1 million dollars in debt and haven't paid their mortgage in 5 years or so....

Imagine that they just decided to stay in their original home in Germantown? They would've been in a great financial situation. Can't help but think they were did whatever they could to keep up with their friends in their circle. All the articles were very informative OP. Thanks for posting this.

 

[dh1water]

I know a lot more well-off/affluent people who work in DC that move to MD (Bethesda, Chevy Chase, Potomac, Columbia, Annapolis, etc.) than to NoVa.

Bingo.  Dude is really going a little too hard for NOVA (and the only one).  Talking about once they settle down they will move to VA?  Outside of Arlington, Mclean, and Old Town the rest of Northern Virginia is the exact same as any other cookie cutter suburb of a major city.  You are really acting like NOVA is flourishing at such a higher rate than the MD cities listed above.  

 

[rico x hood]

Bingo.  Dude is really going a little too hard for NOVA (and the only one).  Talking about once they settle down they will move to VA?  Outside of Arlington, Mclean, and Old Town the rest of Northern Virginia is the exact same as any other cookie cutter suburb of a major city.  You are really acting like NOVA is flourishing at such a higher rate than the MD cities listed above.  

Because it is. Home values barely dipped during the recession and are steadily climbing back up right now. And as I've stated the before the schools are far better than anywhere else, and the crime rate is far lower. These are all very important metrics that people use when deciding where to settle down. I really don't understand how any of this is debatable. If the Maryland suburbs of DC were on par with NoVa, then there would be no point to this thread.

http://wtop.com/news/2014/04/americas-wealthiest-counties-six-of-top-10-richest-counties-in-dc-area/

 

[larryeastwood]

Because it is. Home values barely dipped during the recession and are steadily climbing back up right now. And as I've stated the before the schools are far better than anywhere else, and the crime rate is far lower. These are all very important metrics that people use when deciding where to settle down. I really don't understand how any of this is debatable. If the Maryland suburbs of DC were on par with NoVa, then there would be no point to this thread.

http://wtop.com/news/2014/04/americas-wealthiest-counties-six-of-top-10-richest-counties-in-dc-area/

Howard County is very much if not better than NOVA though. Top Schools and High Median Home Income all throughout.

 

[rich]

Who in NoVA has a 2nd home in Chincoteague?

Maybe out in St. Michael's or somewhere else on the eastern shore of MD....but no one is having that 2nd crib out in Chincoteague bruh

Another thing...if you're young and single, living in Clarendon (if you can afford it) is the spot to be in NoVA.


*Did anyone read part 3 about the Boateng family?

That **** is infuriating. Part of me feels bad about their situation, but another part of me is

because they kept putting their trust in people they shouldn't, and took out loan after loand after loan.

I mean, if your family is grossing 110K, there is no reason for you to be buying a 600K house.

Long story short, they are now over 1 million dollars in debt and haven't paid their mortgage in 5 years or so....

That part hit real close to home 

 I know to  families in that situation right now 

 

[jjs07]

Who in NoVA has a 2nd home in Chincoteague?


Maybe out in St. Michael's or somewhere else on the eastern shore of MD....but no one is having that 2nd crib out in Chincoteague bruh


Another thing...if you're young and single, living in Clarendon (if you can afford it) is the spot to be in NoVA.


*Did anyone read part 3 about the Boateng family?


That **** is infuriating. Part of me feels bad about their situation, but another part of me is because they kept putting their trust in people they shouldn't, and took out loan after loand after loan.


I mean, if your family is grossing 110K, there is no reason for you to be buying a 600K house.


Long story short, they are now over 1 million dollars in debt and haven't paid their mortgage in 5 years or so....

That part hit real close to home   I know to  families in that situation right now 

Dumb question...but what if they just say "screw it" and go back to Ghana? Bad credit can't follow you to another continent, can it?

 

[capital sb]

Yeah not really sure where dude is getting all this diverse BS from. Loudoun County (went to HS there) is not diverse at all, McClean the same, Fairfax is somewhat diverse , then there's Alexandria, and Arlington (where i was raised) minorities are being pushed out of NoVA IMO. I'm talking about minorities that are middle class not making 100K+.

I'm a young professional and the only place I would want to live in NoVA is Arlington (Crystal City or Clarendon). Just about everywhere in NoVA you are facing mad traffic if you work in DC f that. 

Back on topic, I read the 2 articles and all of these people were living outside of their means. How a family can move to the US in 97' debt free then by 2010 be 1.3M in debt is crazy. If you have to take out 2 loans for a down payment on a house you obviously can't afford it. Their mortgage payments raised to 6K/mo in a few years

 wth kind of mortgage loan is that?  Then the wife went to school for some degree and took out another 90K in loans. I'm not even sure how they were allowed to keep taking out loans in the first place. 

 

[jjs07]

Yeah not really sure where dude is getting all this diverse BS from. Loudoun County (went to HS there) is not diverse at all, McClean the same, Fairfax is somewhat diverse , then there's Alexandria, and Arlington (where i was raised) minorities are being pushed out of NoVA IMO. I'm talking about minorities that are middle class not making 100K+.

I'm a young professional and the only place I would want to live in NoVA is Arlington (Crystal City or Clarendon). Just about everywhere in NoVA you are facing mad traffic if you work in DC f that. 

Back on topic, I read the 2 articles and all of these people were living outside of their means. How a family can move to the US in 97' debt free then by 2010 be 1.3M in debt is crazy. If you have to take out 2 loans for a down payment on a house you obviously can't afford it. Their mortgage payments raised to 6K/mo in a few years :x  wth kind of mortgage loan is that?  Then the wife went to school for some degree and took out another 90K in loans. I'm not even sure how they were allowed to keep taking out loans in the first place. 

U see the part in the story when Boateng's wife secretly took out a 20k loan that he had no clue about? It's sad. Just really, really sad.

You brought up a good question...I don't know if anyone has the answer as to how they were allowed to keep taking out loans.

1.3 million in debt...

It's also crazy how they've gone so long living in the same house w/o paying a mortgage in over 5 years.