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Old 03-05-2012, 02:38 PM
 
24,760 posts, read 26,839,776 times
Reputation: 22799

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Quote:
Originally Posted by Ultrarunner View Post
Saying no one buys a home or starts a business without a loan is just buying into the ideas that make you dependent.
Right on
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Old 03-05-2012, 02:44 PM
 
Location: Glendale, CA
1,296 posts, read 2,021,381 times
Reputation: 1368
Quote:
Originally Posted by mysticaltyger View Post
I do think the cost of housing is a rip off in coastal CA (and even many of the inland areas aren't much of a bargain, either).
I don't understand this sentence. "Rip off" implies someone is being misled or deceived through exploitation.

The cost of housing in coastal California is high (generally), but I'm curious as to what makes it a "rip off".
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Old 03-05-2012, 03:01 PM
 
24,760 posts, read 26,839,776 times
Reputation: 22799
Quote:
Originally Posted by DynamoLA View Post
I don't understand this sentence. "Rip off" implies someone is being misled or deceived through exploitation.

The cost of housing in coastal California is high (generally), but I'm curious as to what makes it a "rip off".
Point taken.

I feel it's a rip off when you almost have to be a middle class professional to be able to afford a modest one bedroom apartment in most coastal CA metro areas (without living payday to payday). But it's true, no one is forcing people who work for low wages at WalMart and Target to live here.
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Old 03-06-2012, 12:38 PM
 
Location: SF Bay Area
13,349 posts, read 16,544,682 times
Reputation: 19640
Quote:
Originally Posted by thethinkman View Post
You should buy whatever youbcan afford? At 35k a year (which is an income alot of people will kill for ) you might possibly save 2-3k even after. 10years that's still not much maybe 20-30k . I doubt you can afford any Home even if there is no inflation
You know, home ownership is not a basic human rights issue.
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Old 03-06-2012, 01:35 PM
 
Location: Los Angeles County
11,085 posts, read 9,024,612 times
Reputation: 29066
Quote:
Originally Posted by jaypee View Post
You know, home ownership is not a basic human rights issue.


Our Gimmie Gimmie Gimmie society we live in doesn't want to have to work to earn things. I bet they also want a 75k car on a 35k salary.
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Old 03-06-2012, 03:06 PM
 
Location: Las Vegas, NV
5,737 posts, read 12,047,756 times
Reputation: 3848
Quote:
Originally Posted by Mr_Geek View Post


Our Gimmie Gimmie Gimmie society we live in doesn't want to have to work to earn things. I bet they also want a 75k car on a 35k salary.
Having been in the car biz, that COULD be pulled off, but its certainly a longshot

This thread actually got me thinking about rents in Los Angeles, so I went on craigslist last night and saw that 2 bedroom homes were renting for $2600 a month! WTF?

I could rent a 2 bedroom in Las Vegas or Orlando for as little as $600 a month. My current house in Orlando is 3 beds, 2.5 baths and rent is $825
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Old 03-06-2012, 06:52 PM
 
Location: Boulder Creek, CA
9,197 posts, read 13,482,680 times
Reputation: 6317
Quote:
Originally Posted by mysticaltyger View Post

In short, we are getting screwed by forces beyond our control at times....but the larger part of is is we are screwing ourselves with our collective poor choices.
There is a general gross misinterpretation between "needs" and "wants" in our culture. We're pretty damned spoiled.
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Old 03-06-2012, 06:54 PM
 
Location: Boulder Creek, CA
9,197 posts, read 13,482,680 times
Reputation: 6317
Quote:
Originally Posted by DavieJ89 View Post
I could rent a 2 bedroom in Las Vegas or Orlando for as little as $600 a month. My current house in Orlando is 3 beds, 2.5 baths and rent is $825
Las Vegas/Orlando =/= Los Angeles. Just a wee bit difference there, no?
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Old 07-09-2012, 09:49 AM
 
7 posts, read 8,042 times
Reputation: 12
Here's how it works. House prices are based of supply and demand. When another person is willing to pay 700k for that house its worth 700k. Here's the screwed up part. The guy your competing against most likely doesn't have the 700k so it is a bank loan so really your competing against the bank. And since you don't have 700k cash either you most go to bank and get loan too
So in reality the bank owns your house and your competors home until you pay them in 30-40years but guess what...miss a payment and poof house is gone and next guy is paying 80% of his income for the house you thought you owned. Same with cars look around any nice new car on the street the bank owns.. by the time you pay it off its a broken price of crap and you don't wanna own it. Same with a house by the toms you own it your 70-80 years old and need a nursing home and not a home
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Old 07-09-2012, 09:55 AM
 
7 posts, read 8,042 times
Reputation: 12
90% of your income just goes back to the same bank that printed the money you worked for . Think about it food. Housing. Gas/oil etc all bank owned. Very few unmorgaged farm land. So yes it is supply and demand so it a competitive market. The big problem.is this
...... your competition has a money printing machine and you don't so that's why you never own anything your always basically a renter. Unless you pawn off that overpriced home to some other dummy.who signed his next 30 years of work life over. But then the moral issue of selling someone into slavery and getting rich off flipping homes.... legal theft for banks and you are the henchman
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