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Most Expensive Neighbourhoods Baltimoore


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The link isn't quite right .....

I did get there in the end though. My credo that you should buy there (at a 10% yield) and rent here (at a 3.5% yield) if you feel any need to own property anywhere still looks like it makes sense.

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Hi Masked Tulip,

I'm not quite sure what point you're trying to make here. Are you saying the houses are too expensive or that they're cheap?

Cheers,

Ursa Minor

I am saying for what would buy you something tiny here in the UK you get a modern, large property in a desirable part of Baltimore... although Baltimore is one of the US cities, allegedly, in decline...

Most Expensive Neighbourhoods

Edited by The Masked Tulip
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I am saying for what would buy you something tiny here in the UK you get a modern, large property in a desirable part of Baltimore... although Baltimore is one of the US cities, allegedly, in decline...

http://www.baltimoresun.com/business/real-estate/bal-most-expensive-neighborhoods-pg,0,2316091.photogallery

Well, I moved to Baltimore from London last year so I'd like to add my perspective. Baltimore is a strange city, you can be on a totally safe block and then the next block is a war zone. The War on Drugs is a bigger failure here than most areas of the USA. Baltimore is 70% black and very very poor, the median wage here is <$30K pa. The entire political structure seems completely corrupt. There's nothing alleged about the decline here. The problem is that anyone who can afford to moves out into Baltimore County and the City gradually loses its tax base. There's talk of amalgamating the City and County, which would be great for the City (since most people who live in the County work in the City, it doesn't seem unreasonable). Of course the County folk (who are richer) are completely against this. This could be a great city (I think it was once), but nobody loves it, nobody cares about it and it's hard to see how to turn it around. Last year's murder rate (which was one of the lowest ever) was still around 300.

Of the houses on the list, Homeland is tricky because it's around the Johns Hopkins campus which has their security and is very safe, but is in the middle of a very dangerous part of town.

The Inner Harbor is very expensive but has experienced a recent crime wave (mostly gang related shootings and stabbings).

Fells Point isn't as great as it's made out to be. It still has some drug corners and occasional gunfights between rival gangs. I live in Canton which is to the east of Fell's Point and is much safer. And I still hear the gunfire at night from the other side of Patterson Park.

Anyone who is thinking of investing here, I would not encourage, unless you're willing to take a chance on one of the "up and coming areas" and the crime associated with that. City property taxes are pretty high and there is a glut of rental property on the market. Renters have a much better deal here than in the UK, we don't have to pay property taxes and water rates are usually included in the rent. There's legislation trying to pass through the state senate to increase massively the tax paid on vacant properties, it will be interesting to see if it gets through.

Now I must be clear, I like living here. Why? Well, for all it's problems if you stay away from the known bad areas, people here are much friendlier and laid back than Londoners. And where I live is pretty funky, with cool bars and restaurants. The arts scene is pretty fantastic because you're close to DC and NY but it's much cheaper to live here. And Maryland is a beautiful state. But Baltimore is not for the faint hearted and not for anyone looking to make a fast buck. As many investors have already discovered, given the number of foreclosures.

UM

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Well, I moved to Baltimore from London last year so I'd like to add my perspective. Baltimore is a strange city, you can be on a totally safe block and then the next block is a war zone. The War on Drugs is a bigger failure here than most areas of the USA. Baltimore is 70% black and very very poor, the median wage here is <$30K pa. The entire political structure seems completely corrupt. There's nothing alleged about the decline here. The problem is that anyone who can afford to moves out into Baltimore County and the City gradually loses its tax base. There's talk of amalgamating the City and County, which would be great for the City (since most people who live in the County work in the City, it doesn't seem unreasonable). Of course the County folk (who are richer) are completely against this. This could be a great city (I think it was once), but nobody loves it, nobody cares about it and it's hard to see how to turn it around. Last year's murder rate (which was one of the lowest ever) was still around 300.

Of the houses on the list, Homeland is tricky because it's around the Johns Hopkins campus which has their security and is very safe, but is in the middle of a very dangerous part of town.

The Inner Harbor is very expensive but has experienced a recent crime wave (mostly gang related shootings and stabbings).

Fells Point isn't as great as it's made out to be. It still has some drug corners and occasional gunfights between rival gangs. I live in Canton which is to the east of Fell's Point and is much safer. And I still hear the gunfire at night from the other side of Patterson Park.

Anyone who is thinking of investing here, I would not encourage, unless you're willing to take a chance on one of the "up and coming areas" and the crime associated with that. City property taxes are pretty high and there is a glut of rental property on the market. Renters have a much better deal here than in the UK, we don't have to pay property taxes and water rates are usually included in the rent. There's legislation trying to pass through the state senate to increase massively the tax paid on vacant properties, it will be interesting to see if it gets through.

Now I must be clear, I like living here. Why? Well, for all it's problems if you stay away from the known bad areas, people here are much friendlier and laid back than Londoners. And where I live is pretty funky, with cool bars and restaurants. The arts scene is pretty fantastic because you're close to DC and NY but it's much cheaper to live here. And Maryland is a beautiful state. But Baltimore is not for the faint hearted and not for anyone looking to make a fast buck. As many investors have already discovered, given the number of foreclosures.

UM

Thanks UM - great info.

Wasn't Baltimore the place where some US drama about corrupt cops was made?

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That chimes quite well with the plot of 'The Wire'!

Well David Simon was a Baltimore Sun reporter for many years and the Wire was meant to be a realistic depiction of Baltimore. It's a little lopsided but not bad. Take a look at some neighbourhoods (try some of the streets off Greenmount Ave for example) with Google Street View and you'll see the same scary neighbourhoods full of run down houses in streets like those featured in the show.

Baltimore could be a brilliant investment opportunity...but I really kind of doubt it. Not until they figure out a way to deal with the crack and the gang violence that goes with it.

UM

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Now I must be clear, I like living here. Why? Well, for all it's problems if you stay away from the known bad areas, people here are much friendlier and laid back than Londoners. And where I live is pretty funky, with cool bars and restaurants. The arts scene is pretty fantastic because you're close to DC and NY but it's much cheaper to live here. And Maryland is a beautiful state. But Baltimore is not for the faint hearted and not for anyone looking to make a fast buck. As many investors have already discovered, given the number of foreclosures.

UM

Fantastic insight. Thanks! Also can I ask how you got on visa wise, though I'd assume you have an American family connection?

Edited by TheReturnofRover2000
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Ursa Minor,

Could you give us any idea of how things stand with delinquent tenants in Maryland?

What happens when they don't pay their rent, damage a property beyond reasonable wear and tear and don't leave when their tenancy expires, i.e. squat?

I get the impression the law in the States is less weighted to the tenant than in the UK.

Is this so?

I suppose it varies from state to state but I was wondering.

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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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