Come on that place is just a tear down. The lot size it 6,000 sq/ft. That's 100x60 or 120x50 or something like that. It's not that bad. People like to get butt hurt over these things. Yup, way out of my price range, but so what.
Come on that place is just a tear down. The lot size it 6,000 sq/ft. That's 100x60 or 120x50 or something like that. It's not that bad. People like to get butt hurt over these things. Yup, way out of my price range, but so what.
Here in Flagstaff our property prices are pretty insane as well, but after living here and talking with friends and family about the California market and comparing the two, at least in California people can afford 1.5mil homes, where as I walk around some neighborhoods in Flagstaff wondering "where the hell do people work in this town?"
Probably surgeons at the medical center or something...
In reply to PHeller:
It doesn't matter where someone lives, not everyone in SF is a coder/start up millionaire. There still needs to be garbage collectors, mechanics, carpenters, and all the rest. When the average home is 7 figures something in the system is broken because the average salary can't support it.
I said the same thing back in '07 when everyone was treating their homes like piggy banks. It was the same situation where certain markets became untenable for the average Joe.
RX Reven' wrote: Although I understand the sticker shock some people experience when they look into California home prices, just realize that we’re in a free market system…the instant the prices actually do get too high, supply will exceed demand and the prices will quickly settle down to what the market thinks is fair. I’m 51, lived in California my whole life, and I’ve owned four homes here. I don’t mind the high prices as the probability that they will one day collapse is low so I’m actually getting a nice fall back option in my retirement planning where I can relocate to a comparable home in a less expense state while freeing up a lot of equity if need be. If I have any regrets, it’s the lack of space…I spent over three times the national average on my current home and yet all I’ve got is a standard two car garage to work with. I admit that talk of acreage, pole barns, landing strips, etc. does inflict considerable envy.
When I was shopping for our 2nd home I told myself that I wanted a big yard and/or a 3 car garage. Unfortunately I wasn't able to get either if I wanted to live in a neighborhood I liked. I absolutely love San Diego and have no problem paying San Diego prices to live here. Luckily I get paid San Diego wages to compensate for it
KyAllroad wrote: When the average home is 7 figures something in the system is broken because the average salary can't support it.
That's free market. Property (land) is a resource, with limited supply.
As usual, I like to blame it on modern economies not being compatible with human kind's need to connect with nature and recreation. People move to California because every day is perfect, and when you only get a few hours every day to be outside in the park, grilling with friends and family, watching your kid's sports game, etc, you are willing to pay a premium for property. My wife's family is predominantly from California, and it's really amazing how when they have vacation, they rarely leave California.
When California residents hit retirement, suddenly they no longer need to live there, because they can migrate depending on the seasons.
Perhaps there is a way that states with falling populations could attract new residents. State required vacation minimums. Doesn't have to be paid vacation. Something like 8 weeks minimum for all employers in that state. Drop business taxes to near-zero to make up for it. I think this would attract a lot of new residents.
I'd live in Wisconsin or Minnesota if it meant that I could spend a few weeks every year on a warm-water beach.
The Hoff wrote:RX Reven' wrote: Although I understand the sticker shock some people experience when they look into California home prices, just realize that we’re in a free market system…the instant the prices actually do get too high, supply will exceed demand and the prices will quickly settle down to what the market thinks is fair. I’m 51, lived in California my whole life, and I’ve owned four homes here. I don’t mind the high prices as the probability that they will one day collapse is low so I’m actually getting a nice fall back option in my retirement planning where I can relocate to a comparable home in a less expense state while freeing up a lot of equity if need be. If I have any regrets, it’s the lack of space…I spent over three times the national average on my current home and yet all I’ve got is a standard two car garage to work with. I admit that talk of acreage, pole barns, landing strips, etc. does inflict considerable envy.When I was shopping for our 2nd home I told myself that I wanted a big yard and/or a 3 car garage. Unfortunately I wasn't able to get either if I wanted to live in a neighborhood I liked. I absolutely love San Diego and have no problem paying San Diego prices to live here. Luckily I get paid San Diego wages to compensate for it
This topic prompted me to calculate the price per square foot I’ve paid for California homes over the years:
Year 1984 – Price $70 – 2 bedroom condo in Port Hueneme
Year 1989 - Price $102 – 3 bedroom condo in Westlake Village
Year 1999 - Price $172 – 4 bedroom house in Westlake Village
Year 2009 - Price $357 – 4 bedroom house in Westlake Village - As of today, Zillow has it at $410
I’ve been on the ten year plan which is perfect as I’ll be 55 in 2019 and in California, you can transfer your property tax base to a new home once you’re 55…sweet!
My pay went up 2.5x when I moved from central FL to LA. True, I went from a 2 BR in Orlando for 700 to a decent 350 sf studio in LA for 1100, but loved living in the LA basin. Same place listed for 1300, and rented, a year later when I moved for work.
Just depends on what amenities are important to you - Canyon roads, beautiful coastline, awesome food in staggering distance, and gorgeous weather year round. Easily worth it to me. The studio I ended up renting was the only one I looked at they had AC. Truth is, I could have easily lived without.
Seattle is getting this way for me. Lots of demand not much supply and the barrier to enter the market gets high.
That's a style of house I really like, including the old wooden cabinets and tile bathrooms. Bummer that it's so deteriorated.
Guys, the only US city to make the top 20 of most expensive cities for real estate is New York. LA is a positive bargain in the grand scheme of things.
I paid the equivalent of around $230 a Sq ft for my first 300 sq/ft apartment in Worthing England back in 1994 when I earned the equivalent of $18.5k a year and most of my collage friends thought I was doing really well salary wise as an engineer. Also America is dirt cheap for food and transport compared with anywhere in Europe.
People here are just used to easy living compared to most of the world.
Come to Detroit cheap cost of living great car culture and a booming economy with housing from dirt cheap to eye watering.
In reply to Adrian_Thompson:
Not enough bourbon in the world to make Detroit look appealing 
Dude, come try it. Preferably to tex-Ass any day
Actually, some parts of Metro Detroit are pretty sweet. I wouldn't say no to living there.
Detroit sort of amuses me. Id get left the hell alone there. But after missing a winter, I'm not sure you could bribe me into moving back north.
Everyone keeps talking about "California prices". California is a REALLY big place. The market is very different based on what part of California you're in. Even the LA basin is a huge place with very different markets based on where you're at. Take any good sized city, and you'll find some very differing housing prices based on where you're at. I'm sure I could find $1.5million houses in Columbus, OH.
Just the LA Metro area itself is ~34,000 sq miles with a population of 18.7 million people. That makes it slightly larger than South Carolina with a larger population than Illinois. If it were it's own state, it would be 38th largest by area, and 5th largest by population. You're going to find some really varied prices within a place that big.
Knurled wrote:fireball123 wrote: If i had a million I would rather buy ten vipers than a houseI'd drive a sportscar just to prove that I'm a real big baller and I made a million dollars.
I got it. I giggled.
My issue in Southern California is not the prices (because they are mostly made up for in higher wages) it's the traffic. If I could live in LA and be at work in 5 minutes I'd be interested. The problem is that most people get a job close to home when they first move to LA, then they buy a house, then they change jobs, and now they are sitting in traffic for 2+ hours a day. Screwwww that.
In reply to PHeller:
Motorcycle.
Lane splitting and filtering are legal in CA.
Sounds like a good way to die in CA.
You'll need to log in to post.
