Los Angeles Real Estate (Glendale, Pasadena: apartments, condominiums, buying)

[CA4Now]

Originally Posted by user_id

Certainly? Interesting, because the median home price in Pasadina was $200k in 2000 and there were numerous homes in "decent neighborhoods" that sold for $150k. Would you like examples?

Pasadena has one of the lowest ranking public school districts in the state. No, I don't need examples because most people can't afford the $8,000 to $20,000 annual price tag per student to send their children to private school.

[user_id]

Originally Posted by CA4Now

Pasadena is one of the lowest ranking public school districts in the state. No, I don't need examples because most people can't afford the 20k annually per student that it requires to send their children to private school.

You stated:

"You certainly could not have found a $150,000 home in a decent neighborhood anywhere in the San Gabriel Valley ten years ago. That price would have landed you in, for example, Azusa, with a fixer in a neighborhood with bars on the windows (and there are some safe areas of Azusa)"

This statement is false and I gave you an example using one of the more expensive cities in the San Gabriel Valley. Now you are changing the topic.

[CA4Now]

Originally Posted by user_id

This statement is false and I gave you an example using one of the more expensive cities in the San Gabriel Valley. Now you are changing the topic.

Your examples of decent neighborhoods are obviously very different than mine. (And it appears that you enjoy arguing just for the sake of it.)

[JerZ]

Originally Posted by JohnG72

But I just disproved it with this post and the factual examples I provided.

I don't think you just disproved it with two examples. I will ask this question again: any links to actual data on these numbers being given?

That would help matters a lot. "Anyone making X amount in this year could have bought a house for this much!" doesn't say anything except that, well, you're opining. And that (based on just this kind of statement, with no actual backup as to what was happening with a *majority* at the time...anyone can dig up two individual examples of cheap sales) you're doing what you're accusing others of doing: remembering in your own way, not remembering facts.

With real data, we can determine what's fact, what's fantasy and which of us is spouting revisionist history.

So, basically, here's what we need:

The *median* home price in whatever time period you'd like (let's stop hopping around here, ok? A bit back another poster was saying homes were $250K by the 1980s...now we're back to 2000 yet again with claims of...$150? I am lost...but I don't think I'm the only one), and the *median* household income at that time for the same area.

Pick whatever time period you'd like.

That's not a lot of data so I don't think it's much to ask.

[JohnG72]

Originally Posted by CA4Now

Your examples of decent neighborhoods are obviously very different than mine. (And it appears that you enjoy arguing just for the sake of it.)

Closest examples I could find:

1996 sold $176K, likely $150-160 if sold in 1998
9802 LA ROSA Dr, Temple City, CA 91780 | MLS# C10101666

1998 sold $187K
Temple City, CA 91780 | MLS# 10-492979

1999 Sold $175K
1844 East NORMA Ave, West Covina, CA 91791 | MLS# I10050851

$150K was probably a stretch. I'm sure there were a few fixers though. Note, all of the above in safe areas with good schools. Anyway, yet more examples of great middle class affordability. Areas where 200-300% prices gains are in no way explained other than bubbliciousness.

[user_id]

Originally Posted by CA4Now

Your examples of decent neighborhoods are obviously very different than mine.

Let's review your statement again:

"You certainly could not have found a $150,000 home in a decent neighborhood anywhere in the San Gabriel Valley ten years ago. That price would have landed you in, for example, Azusa, with a fixer in a neighborhood with bars on the windows (and there are some safe areas of Azusa)"

The $150k price point 10 years ago would not land you in a fixer with bars on the windows. What you said was grossly inaccurate.

[JerZ]

Originally Posted by JohnG72

Closest examples I could find:

1996 sold $176K, likely $150-160 if sold in 1998
9802 LA ROSA Dr, Temple City, CA 91780 | MLS# C10101666

1998 sold $187K
Temple City, CA 91780 | MLS# 10-492979

1999 Sold $175K
1844 East NORMA Ave, West Covina, CA 91791 | MLS# I10050851

$150K was probably a stretch. I'm sure there were a few fixers though. Note, all of the above in safe areas with good schools. Anyway, yet more examples of great middle class affordability. Areas where 200-300% prices gains are in no way explained other than bubbliciousness.

These are examples, not the norm or the average. I can dig up plenty of "examples" of homes that sold for way above those numbers too in similar areas. What would that prove? As little as your examples prove, I'm sorry to say.

Anyone can find "examples" that may not reflect the reality of the majority at any given time. Here's one example (had to!) of how that can easily happen and often does: one family member sells a house to another at a very, very low rate.

If necessary, in order to pass on ownership (without dying first) of a deed to a home to another person based on a purchase, you could literally sell your house to your cousin for a dollar.

And of course it would be easy to find examples that show things exaggerated from the opposite direction. Someone is from out-of-state, hasn't done much homework, thinks he or she is getting a great deal...is desperate to move in NOW...etc.

And by the way, we can all easily find "examples" of homes that are "affordable" now (without knowing really much about them except dates of purchase and amounts...as in your "examples"). If I pull out four of these, are you willing to concede that homes are affordable around here after all? :eyeroll

Hope I've made my point...

Now, is anybody interested in showing real stats on what the average person was doing...not a few lucky and a few unlucky ones? Because then we can find comparable real stats today, and we can find comparable real stats to other parts of the country about how high a percentage of income a home was at the same time...etc.

[JohnG72]

Historical Median Home Sales Prices From 1982

Yes yes?

[JerZ]

Originally Posted by user_id

Let's review your statement again:

"You certainly could not have found a $150,000 home in a decent neighborhood anywhere in the San Gabriel Valley ten years ago. That price would have landed you in, for example, Azusa, with a fixer in a neighborhood with bars on the windows (and there are some safe areas of Azusa)"

The $150k price point 10 years ago would not land you in a fixer with bars on the windows. What you said was grossly inaccurate.

Rather than nitpicking with the intent to sidetrack, how about you start backing up your ongoing assertion that homes were quite affordable 10 years ago and earlier and weren't a stretch then? I'm paraphrasing...before you jump to the "Oh, maybe I can sidetrack this question too and they'll forget all about facts and real data" thing.

[JerZ]

Originally Posted by JohnG72

Historical Median Home Sales Prices From 1982

Yes yes?

Thank GOD. Do you have stats for the exact area, in the exact time on median household income? If so, we can finally (thank God again) do some real math.