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Old 10-11-2018, 01:19 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,545 posts, read 14,037,847 times
Reputation: 9663

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Quote:
Originally Posted by 2sleepy View Post
Mammoth isn't near LA, it's 313 miles from LA, it's in Central California near Modesto
You are just wrong, and I've been going to Mammoth for decades. And I don't live downtown. (I'm in NW LA Co.) I used to make it in 5 hours in my Corvette.

You're on the wrong side of the High Sierras. Mammoth is on the eastern side, not the western side like Modesto.

Anyway I can't afford it so it's moot. I'll continue visiting and staying at motels/condos.

I used to drive up Friday and ski Saturday and Sunday, quit skiing about 3 and home by 9-10 p.m. (Driving more moderately.)

Please use Google maps the next time you correct me. Evidently you are too sleepy.
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Old 10-11-2018, 01:23 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,545 posts, read 14,037,847 times
Reputation: 9663
And for the record, I contest the OP's presumption that there's any housing shortage. We have exactly what we need, and building more housing every day.

The only shortage is houses people wish they could afford but can't.
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Old 10-11-2018, 01:38 PM
 
25,800 posts, read 49,685,561 times
Reputation: 19248
Quote:
Originally Posted by SWFL_Native View Post
Housing shortages are not market failures but a reflection of resource scarcity. As populations increase the absolute value of resources per person decrease, hence costs rise. You must then work to build more efficiently to offset this cost increase. This means higher density building with lower costs more readily available materials. So instead of 0.25 - 0.5 acre SFHs as being the normal the new normal is a 2/2 1200 sq ft townhome/flat/apartment/condo built in a tightly packed setting.

There are also sticky (relatively fixed) supplies of land and the time to construct supplies of housing in a given area in a time. Smart development needs time to align the demand for housing with the geographic location of it's supply. This is how efficient markets work and build in an appropriate pricing function.
Don't forget NIMBY and down zoning...

Each year brings new restrictions and drives up the cost of existing...
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Old 10-11-2018, 01:42 PM
 
25,800 posts, read 49,685,561 times
Reputation: 19248
Quote:
Originally Posted by Lovehound View Post
And for the record, I contest the OP's presumption that there's any housing shortage. We have exactly what we need, and building more housing every day.

The only shortage is houses people wish they could afford but can't.
Profound words of wisdom...

When the market tanked 2009-12 there were so many vacant homes my city was awash in vacancies…

The question was how many generations if ever would it take to rebound?

I wanted to own... I quickly realized I needed to lower my standards and desired location and ended up buying the least expensive MLS single family home in East Oakland CA... it is all about baby steps...

The truth is anyone could have bought that home but because it was schedule for a condemnation hearing NO ONE was interested and I too thought what am I getting into... looking back, it was the single best financial decision of my life and provided a spring board to better... and yes, I still own the home!
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Old 10-11-2018, 01:42 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,545 posts, read 14,037,847 times
Reputation: 9663
Quote:
Originally Posted by Ultrarunner View Post
Each year brings new restrictions and drives up the cost of existing...
Pretty soon you'll be better off if you were never born!
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Old 10-11-2018, 03:58 PM
 
Location: la la land
27,160 posts, read 11,338,839 times
Reputation: 19271
Quote:
Originally Posted by Lovehound View Post
You are just wrong, and I've been going to Mammoth for decades. And I don't live downtown. (I'm in NW LA Co.) I used to make it in 5 hours in my Corvette.

You're on the wrong side of the High Sierras. Mammoth is on the eastern side, not the western side like Modesto.

Anyway I can't afford it so it's moot. I'll continue visiting and staying at motels/condos.

I used to drive up Friday and ski Saturday and Sunday, quit skiing about 3 and home by 9-10 p.m. (Driving more moderately.)

Please use Google maps the next time you correct me. Evidently you are too sleepy.
5 hours @60 mph =300 miles so what are you claiming I'm wrong about? The town of any significant size is Modesto, do you disagree with that?
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Old 10-11-2018, 04:03 PM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,545 posts, read 14,037,847 times
Reputation: 9663
Quote:
Originally Posted by 2sleepy View Post
5 hours @60 mph =300 miles so what are you claiming I'm wrong about? The town of any significant size is Modesto, do you disagree with that?
Modesto is ON THE OTHER SIDE OF A BIG MOUNTAIN RANGE!

The nearest town is Bishop. And I was young and stupid driving my 'Vette at 75-90 mph. That is totally stupid because of range cattle. Go away, I'm not going to argue with a know-nothing. I'm not discussing this with you again.

ETA: I just plugged it into Google maps and Google says it would take me 4-1/2 hours. I presume they figure in speed limits and traffic. A lot of the highway has been replaced with freeway since my youth.
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Old 10-13-2018, 01:45 AM
 
8,376 posts, read 7,362,552 times
Reputation: 18229
When the of land, cost of permits, cost of installing utilities, streets, and then cost of building, and other expenses are added up, it is impossible to end up with a building poor people can afford to rent or buy in much of the country. No landlord can afford to rent such a building, and feed it out of his/her pocket every month at a price poor, and often middle class can afford.

I say this from experience, as an investment real estate broker from 1972 until I finally retired. I bought and sold property to investors. I did some developing, had properties built, etc. So I am speaking with knowledge and experience.
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Old 10-13-2018, 09:12 AM
 
Location: El Pueblo de Nuestra Señora la Reina de los Ángeles del Río Porciúncula
13,545 posts, read 14,037,847 times
Reputation: 9663
Then there you have it: public housing. The private sector cannot or will not provide such housing.
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Old 10-13-2018, 10:01 AM
 
Location: Paranoid State
12,671 posts, read 9,420,097 times
Reputation: 14919
Quote:
Originally Posted by Lovehound View Post
And somebody who has $200K in equity and living on SS?
The more common scenario is that person has significant investments accrued over a lifetime, including tax advantaged IRAs and 401Ks, perhaps rental property, annuities and the like.
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