My St. Louis Economic Stimulus Plan
aka "How Hugh Tried to Localize His Own Pain!"
Back in 2008 we personally tried to
do our part to stimulate the then sluggish economy by, yes, buying a reduced price, older house
in the St. Louis area and having it fixed up for us to live in
(no, we did
not try to "flip" the house!) Instead of
spending all our money on electronics from China, or a giant gas guzzling SUV,
or pointless trips out of state,
we spent our money on local contractors who fixed up our house
(kitchen, floors, brick/concrete work, plumbing) and yard work too.
Much of it was labor which translates into actual pay going into the hands of laborers
who live directly in the St. Louis area.
quite a bit of the work ourselves too (honestly, mostly my wife did it!)
So that was Hugh's St. Louis Economic Stimulus Plan. I think we
personally did quite a bit to stimulate the economy, but unfortunately we are
just one household! There are still a lot of
great homes in the St. Louis area
for people to buy at very reasonable prices. If you are sitting on the fence,
and afraid to buy, you
may really lose a great opportunity once home prices and interest rates
start going back up. One great site to see how houses in St. Louis are selling
and for what price is at
St. Louis BlockShopper.
If you are a
prospective first time buyer and are kicking yourself since you did not get
to buy my previous house, you can still help the St. Louis economy by buying a
different house in the St. Louis area,.
The St. Louis housing market is a very
affordable market for first time buyers, and interest rates continue to stay
at an extremely low level. I know people are trying to find the "bottom" of
this market to buy a home, but remember that if you pay rent year after year,
you are 100% guaranteed to be throwing your money away, whereas if you buy a
home now you can start building some equity
right away even if your home's appreciation is not immediately guaranteed.
Another way we helped the St. Louis economy was a byproduct of our house sale.
Since we spent and will continue to spend money locally on our newly acquired
home, we are spending more time
(and money) right here in good old St. Louis. Why go anywhere else when there
are so many great places right around the St. Louis area to visit and
to eat? Let's keep our spending money right
here where we live!
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