Will Never Afford a CA Home - Will Never Leave CA? (Sacramento: crime, neighborhood)

[nevergoingback]

Originally Posted by mysticaltyger

You and CityBoy both seem fond of only teling 1/2 a story. Yes, a million people did leave. But the population is still going up. people do move here. And people do have kids here.

I'm strictly talking about domestic migration.

With international migration and births, CA population is just slightly declining.

So for the last decade, CA lost on average about 100,000 of its citizens each year, which were replaced with approx 100,000 babies and immigrants each year.

That's an interesting demographic change. It will be interesting to see how everything shapes out, and if those trends continue.

[treedonkey]

Originally Posted by Curmudgeon

No more ghetto birds.

Ghetto birds?

[Macrina]

^^ I don't get it either...

[nmnita]

Originally Posted by Kalika

I lived in California for 10 years, have been on the east coast for 3, and am about to move back to CA next year, even though I will likely never be able to afford a home there (a condo at best). I have talked to many Californians who feel the same way...they live there despite the fact that they will likely never afford a home: short of a cash windfall or winning lottery ticket.

My question is...is this you? Are you one of the ones who are stuck with apartment living in CA but remain for the overall lifestyle or some other reason? What keeps you in CA despite the fact that you will never own CA real estate?

Do tell...we are all ears!

We left Ca many years ago but visit at least once a year. We could have moved back at the time we choose not to, but couldn't now. Of course cost of property is one reason we couldn't but we wouldn't want to either. I miss things about Ca, it has a lot to offer, but it has more negatives for us than positives. Again, our opinion only. We hate the traffic even in No Ca, we have found most things more expensive (not everything) the crime rate is higher than other places we have lived and the hussle bussle is exhausting. The problems with illegals doesn't add to the charm of the state, again, more in So California. Last but not least for us, liberalism. For some this is a reason to stay or move to the state, for us it is a reason not to return except for visits.

Nita

[BayAreaHillbilly]

I am a homeowner (a too small house in need of many improvements in a good area). If my circumstances had not allowed me and my spouse to reach this and other financial goals here we'd have bailed long ago. Sure money is not everything but a lack of fiscal fitness would condemn us to a life of sorrow. I know in this latter day of debt mania and funny money this seems old fashioned. So be it, I'm a forty something gothic crunchy con stick in the mud (now that's complex, no? - LOL).

[BayAreaHillbilly]

Originally Posted by Snort

Ultimately, we're all renters. Is there anyone here planning on living forever?

Got estate planning? Oh, I know, how bourgeois.

[BayAreaHillbilly]

In my zip median income is about 10% of typical current asking prices. Of course, many bought in the early to mid 90s during the last down cycle. Been lots of appreciation since and the current "crisis" has really only resulted in a sideways market not a true decline. This is a very nice SF burb (in the "West Bay" not the "East Bay" - e.g. no bridges to get into the City) we're talking here.

Originally Posted by Charles

Yes, we're in sync here.

Here's a good tool to check out what the median incomes (and all sorts of useful demographic data) are by zip code. You can compare tons of zip codes side by side (and copy and "Paste special" - transpose into excel and really have fun). You'll see that very few zip codes in LA and OC have median incomes in the six figure range.

Moderator cut: link removed, linking to competitor sites is not allowed

My definition of "affording a home" means maxed out 401(k), maxed out Roth IRAs, maxed out college savings accounts, no credit card balance, and mortgage payment as a percent of income in the normal 28%-34% range.

Here are the median incomes for several zips in south OC:

ZIP City Median:

92673 Talega $92,073
92679 Coto de Caza$112,998
92694 Ladera Ranch $104,306
92629 Dana Point $64,622
92677 LN $80,146
92653 LH $46,716
92692 MVe $82,690
92691 MVw $75,184
92688 RSM $74,173
92656 AV $74,688

With those median incomes, and median house prices where they are at, I question how many people can "afford" to live there. (Obviously this doesn't apply to people who purchased ten years ago when housing prices where in the $150/sqft range and weren't out of sight with respect to incomes.)

Now, with housing prices crashing like a lead zeppelin, the house price to income ratios are approaching those dictated by classic models.

[BayAreaHillbilly]

Originally Posted by City Boy

If California didn't have as much to offer as it does, houses would be dirt cheap. I've said it before, California has everything all states offer wrapped into one state.

There are also artificial constraints on the supply, mainly in the form of draconian zoning and planning rules, and, the world's strictest environmental laws. Lots of land is tied up in open space, easements and Coastal Commission exclusion zones. Add to these factors the unwillingness to build out the road / water delivery / power delivery infrastructure. It's an existing homeowners' (especially those who bought 20 or 30 years ago) dream and the prospective or starter homeowners' nightmare.

In his treatise "The Quest for Cosmic Justice" Thomas Sowell specifically alludes to the Bay Area and its artificially scarce residential real estate as an example.

[Hawk J]

Originally Posted by nmnita

We left Ca many years ago but visit at least once a year. We could have moved back at the time we choose not to, but couldn't now. Of course cost of property is one reason we couldn't but we wouldn't want to either. I miss things about Ca, it has a lot to offer, but it has more negatives for us than positives. Again, our opinion only. We hate the traffic even in No Ca, we have found most things more expensive (not everything) the crime rate is higher than other places we have lived and the hussle bussle is exhausting. The problems with illegals doesn't add to the charm of the state, again, more in So California. Last but not least for us, liberalism. For some this is a reason to stay or move to the state, for us it is a reason not to return except for visits.

Nita

We lived in the Monterey, CA area fer about five lustrums. We loved the fishin', booniedocking campin', & exploring in CA with our beloved youngsters.

We always had a Dream (my beloved Barb&i). We Dreamed of one day livin' wayout in the country in a forest with the wild critters fer neighbors, & having a basspond..... When on vacations we searched fer our place for years. We finally found our place & bought it in 1987.

We have truly loved living here on God's Country in peace, harmony, & tranquility with nature, & i continue to do so.

.............

[BayAreaHillbilly]

Originally Posted by Not a G.R.I.T.S.

DC and many parts of VA are about as expensive and crowded as CA plus they have really cold winters. I can't imagine anyone thinking they could offer a lifestyle improvement, unless for job ops or to be close to family.
Visit areas with a less extreme climate, affordable housing, less traffic, ... to compare a real change.

DC has REALLY cold winters? You seem to be quite sheltered. Travel a bit.