How can you consider $500,000 to be "affordable housing"? (mortgage, lender)

[jemarqu]

Originally Posted by Beth56

This is the area where you and I differ. I bought this rental home in July of 2000 and it has not appreciated 280%, nor have any properties in my area. And as I said, I live in a very expensive and desireable area at the beach. I am fairly aggressive in my daily research of the market. In order for me to agree with your percentage, I would have to go back several more years which is fine. But not in the timeframe you have suggested. I have lived here for over 50 years and am very familiar with my area. I hope this helps. I certainly don't wish to say you don't know what you are talking about. We just do not agree. Beth

I have no clue where you live. I'm glad you are well off. I am referring to most areas of Southern California. You may be very familiar with the data in your area but it seems to me like you don't ever research outside of your area.

Wait a minute, wasn't this thread about 500k homes anyways? How many 500k homes are in your high class neighborhood?

[jemarqu]

Look at this little beauty in Long Beach, CA.

1372 Belmont Ave Long Beach CA 90804

Zillow - Data & Graphs - Real Estate Value, Local Real Estate Trends

[jemarqu]

Of course you could always click the 5 year graph.


Zillow - Data & Graphs - Real Estate Value, Local Real Estate Trends

[jemarqu]

Here is another beauty in the Inland Empire.

10154 Monte Vista St Alta Loma CA 91701

Here is the 5 year graph.
Zillow - Data & Graphs - Real Estate Value, Local Real Estate Trends

[jemarqu]

Here is a home in Pasadena. Just 5 years ago it was valued at $247k and 7 years ago sold for 200k. Now can be yours for $825k.

1006 Fairview Ave South Pasadena CA 91030

Another 5 year graph.
Zillow - Data & Graphs - Real Estate Value, Local Real Estate Trends

[Beth56]

Originally Posted by jemarqu

I have no clue where you live. I'm glad you are well off. I am referring to most areas of Southern California. You may be very familiar with the data in your area but it seems to me like you don't ever research outside of your area.

Wait a minute, wasn't this thread about 500k homes anyways? How many 500k homes are in your high class neighborhood?

Well I'm not rich and California is my area. The rental home I was speaking about is not in a high class neighborhood. It's obvious you are unable to have a conversation unless you are in the right. The end.

And by the way, you shouldn't put so much faith in Zillow. It's not that accurate in some instances in case you didn't know.

[giffman]

Originally Posted by TheRealAngelion

LA and California in general have a very large population. And among that population is a very large class of people who are middle and upper middle income. There is also a very large number of affluent/weatlhy households too (the most in the U.S.).

Creative financing by subprime morgage lenders over the last several years helped a lot of the middle class to purchase a home they otherwise could not have afforded, but in general California's real etsate prices are high because there is a market here large enough and wealthy enough to sustain it. It's simple economics of supply and demand.

Yes but the middle and upper middle income people are not moving to Compton or Watts.

[jemarqu]

Originally Posted by Beth56

Well I'm not rich and California is my area. The rental home I was speaking about is not in a high class neighborhood. It's obvious you are unable to have a conversation unless you are in the right. The end.

And by the way, you shouldn't put so much faith in Zillow. It's not that accurate in some instances in case you didn't know.

I would imagine that you don't like to have conversations without being in denial either.

[JackSparrow]

Originally Posted by jemarqu

I would imagine that you don't like to have conversations without being in denial either.

Wow. You're one of those people that believes what they read on the inner'net huh?

Well, contact me immediately, you just won a million dollars. All you have to do is send me a check to claim it!



PSSST! "Zillow" your seemingly 'magic bullet,' rated my house at 130% of what I know it's value to be (via my constant market research).

GOOD JOB! You've just proved you don't know what you're talking about!!!

[jemarqu]

Originally Posted by JackSparrow

Wow. You're one of those people that believes what they read on the inner'net huh?

Well, contact me immediately, you just won a million dollars. All you have to do is send me a check to claim it!



PSSST! "Zillow" your seemingly 'magic bullet,' rated my house at 130% of what I know it's value to be (via my constant market research).

GOOD JOB! You've just proved you don't know what you're talking about!!!

You don't believe in a housing bubble either? I bet you believe everything that your real estate agent tells you huh?