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Old 09-26-2014, 10:45 AM
 
Location: Pasadena, CA
10,087 posts, read 12,579,873 times
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Quote:
Originally Posted by jm1982 View Post
You don't think there might be parts of L.A that are equally as bad though as some of those areas?

I don't know the areas of Chicago..I always hear people talk badly about South Chicago

but they also say that all of L.A is gang ridden and a slum too.
When I was in Chicago I took the Green line from the Loop out to Oak Park (first-ring suburb, sort of like Pasadena) and the line travels through some of the roughest neighborhoods on the city's west side. Let's just say there is nothing that abandoned in Southern California. It seems like in the Midwest and East Coast the roughest areas are semi-abandoned, while in California the roughest areas are usually over-populated.
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Old 09-26-2014, 11:40 AM
 
Location: Altadena, CA
1,519 posts, read 1,420,091 times
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Quote:
Originally Posted by munchitup View Post
When I was in Chicago I took the Green line from the Loop out to Oak Park (first-ring suburb, sort of like Pasadena) and the line travels through some of the roughest neighborhoods on the city's west side. Let's just say there is nothing that abandoned in Southern California. It seems like in the Midwest and East Coast the roughest areas are semi-abandoned, while in California the roughest areas are usually over-populated.

The horrible winters we have in the mid-west and East coast de-motivates homeowners and renters from maintaining old homes in poor neighborhoods. At least in So Cal, you got constant Sun and glorious Palm Trees to gloss over not so good areas.
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Old 09-26-2014, 12:17 PM
 
Location: Los Angeles, CA
555 posts, read 572,340 times
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Quote:
Originally Posted by MItoBH View Post
The horrible winters we have in the mid-west and East coast de-motivates homeowners and renters from maintaining old homes in poor neighborhoods. At least in So Cal, you got constant Sun and glorious Palm Trees to gloss over not so good areas.
It is true that harsh weather really does a number on buildings in the Midwest and on the East Coast. You can delay building upkeep in So Cal for a while and decay is not immediately apparent, though the neighborhood may be plagued with violence, crime, and hopelessness. Dry heat is very kind to buildings.

As for the palm trees, I think they're overrrated. They provide nothing except for a picture perfect vista. They don't provide shade, which is what we really need here! Too hot. Oak trees are much better.
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Old 09-26-2014, 01:30 PM
 
Location: Los Angeles
1,451 posts, read 1,362,816 times
Reputation: 645
how ironic coming from a NY paper...those people live in cubicles for astronomical rates
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Old 09-26-2014, 03:15 PM
 
Location: Los Angeles (Native)
24,249 posts, read 13,725,676 times
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Quote:
Originally Posted by infinitekid View Post
how ironic coming from a NY paper...those people live in cubicles for astronomical rates
Lol yeah I was thinking the same thing too !
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Old 09-27-2014, 01:17 AM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,045,656 times
Reputation: 4931
plenty of affordable rentals, I live in an area where the median price of a home is about $1 million, however my 700 sqft 1bd with a garage is only $1200/mo. Now tell me that is weird. There is a rental glut now because of all the investor properties coming on the market.

Home prices are extremely disconnected from rental fundamentals as it's way way cheaper to rent now.

Also, regarding gangs, LA is the gang capital of the world and huge swaths of LA are decrepit ghettos. What is funny is that even the neighborhood in the video below, considered the most violent and dangerous in perhaps the country, homes are selling for around $350k... if there is anything more bizzare and laughable than this I don't know what it is!!



https://www.youtube.com/watch?v=ZQQIDoqXVmo
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Old 09-27-2014, 08:22 AM
 
Location: So Ca
13,926 posts, read 13,582,104 times
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Quote:
Originally Posted by k374 View Post
Home prices are extremely disconnected from rental fundamentals as it's way way cheaper to rent now.
Interesting interactive link in this article, "Rent or own: where can you afford to live?"
http://www.latimes.com/business/real...ry.html#page=1
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Old 09-27-2014, 08:30 AM
 
Location: Aliso Viejo, Orange County, CA
4,739 posts, read 5,948,660 times
Reputation: 3837
Quote:
Originally Posted by infinitekid View Post
how ironic coming from a NY paper...those people live in cubicles for astronomical rates
I guess I missed the part where the NY Times implied that things were better in NYC. in fact, it's just the opposite, as there is a warning in the article that CA homes prices may approach those of New York City and SF:

“It’s hard to imagine how all of California doesn’t become like New York City and San Francisco, where you have very rich people and poor people but nothing in between,” said Richard K. Green, an economist and director of the Lusk Center for Real Estate at the University of Southern California.
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Old 09-27-2014, 08:49 AM
 
Location: Southern California
4,350 posts, read 4,942,333 times
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Quote:
Originally Posted by k374 View Post
plenty of affordable rentals, I live in an area where the median price of a home is about $1 million, however my 700 sqft 1bd with a garage is only $1200/mo.
In Santa Monica a multi unit rental building is cheaper to buy than a single family house. Are you renting a 1 bedroom house or in a multi unit?
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Old 09-27-2014, 10:24 AM
 
Location: Los Angeles (Native)
24,249 posts, read 13,725,676 times
Reputation: 11412
Rents need to be cheaper because they have to be at levels that people can actually afford ( or barely afford )

Regarding home values I once heard something interesting which was that people will say " my home is worth 800k (or whatever amount)" but in reality if all of the homes in the area went on the market at the same time they likely couldn't get 800k for their house since there would be a lot of supply .

In the example of the $1200 rent in $1million neighborhood , we look at those homes and people think wow all these people owning her are rich or make a lot of money , but many are likely retired or bought when prices could be afforded by more people.

I saw the house I lived in when I was younger go from $300k to probably around $1million now. That was over around 15yrs which is a while.. But wages for most haven't gone up much since then .

The economy was actually much better then than it is now and unemployment was lower

One thing I don't think people think about much is that one big factor in keeping these neighborhoods so expensive is that there are a lot of long time homeowners that don't want to sell .

It makes sense as why would a person that is likely older want to see if they live in a nice house in a nice area that could very likely have no mortgage payment or even a mortgage payment that is less than what people are paying to rent a 1bedroom apartment .

Only reason would be that they pass away or their health declines to the point where they can't live at home .

Of course these situations aren't too likely to happen to people all at the same time in a neighborhood .
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