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Old 09-27-2014, 10:57 AM
 
Location: Aliso Viejo, Orange County, CA
4,736 posts, read 5,936,715 times
Reputation: 3833

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Quote:
Originally Posted by jm1982 View Post

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.
Irvine actually has some of the highest rents in OC. So, $1200/month is very atypical for that city and even the county.

Irvine also has a lot of renters and many, not all, of the $1M homes are owned by investors (a flood of money from Chinese investors has driven up prices). Of course, retirees and working owner occupiers live in others.
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Old 09-27-2014, 12:15 PM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,029,485 times
Reputation: 4920
Quote:
Originally Posted by thelopez2 View Post
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?
I am renting a 1 bd apartment in a huge apt. complex. There are virtually no 1bd condos for sale in this area that I have seen but 2 bd 1000 sqft condos with garage in this area go for around $350,000 with around $400/mo. HOA fees. There are many 2bd 1000sqft rentals in the area for $1500/mo. When I drive around I see a huge number of For rent signs.

I don't live in Irvine. Irvine is an exception, there is much higher rental demand there due to UCI and the school district. Irvine is also 40+% Asian and these Asians tend to be those with high familial wealth.

My colleague lives in Huntington Beach and rents his 1bd with garage for $1300/mo. just 2 blocks from the beach. Now, he pulls in 6 figures and is already 34 yrs old. I asked him when he plans to buy a home and he says he does not plan to unless prices drop significantly because he just does not want to spend that much money to affect his lifestyle. Most younger people have the same mindset. With more and more people staying single the *oraganic* demand just isn't there to support current prices.

Last edited by k374; 09-27-2014 at 12:25 PM..
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Old 09-27-2014, 04:46 PM
 
Location: Minneapolis
405 posts, read 408,153 times
Reputation: 648
Yes there are plenty of places in California with affordable homes but chances are you just don't need to live there. Either you'll be too far away from major cultural activities, or too damn hot in the summer, or surrounded by crime, or etc etc. There's always a price to pay in California. And for me the price is too high.

Not to mention the drought that's gonna bite people in the butt. It's amazing the staggering cluelessness that Californians have about water. They really don't get that soon there won't be any. SoCal certainly is perfect for the type of person who conveniently ignores they are living in the desert.

Now they're gonna pay for that luxury. But they'll still be out watering their lawns tomorrow.
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Old 12-26-2015, 06:29 PM
 
16,785 posts, read 19,628,561 times
Reputation: 33226
Quote:
Originally Posted by AJT123 View Post
I am by no means saying it's not expensive to live here, but it's doable.

We have been here since march; my husband makes about 75k (but only brings home like 48 after insurance, taxes, 401k, etc) and I am still looking for work, and we make it. We live in a really nice neighborhood in western hollywood, too, where rent definitely isn't cheap.

Things are a little tight, with me not working yet (finding work is a bi*ch in this city, even with experience and a college degree...just a little tidbit for future transplants), but we get by just fine and bills get paid.

One thing that really helps is that you can have an absolute blast here without spending a dime.

So much to do for extremely cheap or free. Go downtown, pay $1.75 for a subway ticket and just walk around all day. Hike Runyon and enjoy the views. Go to the Observatory. Walk around Wilshire, etc. It's endless.
Totally different than what you say now.
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Old 12-27-2015, 06:20 PM
 
200 posts, read 123,673 times
Reputation: 32
Quote:
Originally Posted by MItoBH View Post
I agree with you. I'm researching homes/condos via trulia.com and redfin and the prices are crazy, but it's all relative. And prices are going to continue to go up. I want to buy in areas like MDR/Venice/Bev Hills, etc., it is my mission in life to buy a home in one of those areas. In LA County by 2025, it's going to be totally different - but I do value diversity and I hope LA doesn't loose too much variety of folk from all walks of life.
Hahaha well i do respect your mission in life dude, but getting anything in Beverley Hills might cost you an arm and a leg and still all you may end up getting there is a 500 sq ft beyond your imagination tiniest apartment with a 1800$/mo HOA (yeah they exist: google playa del ray)....you need atleast 120k/year job income + side business worth 100k/year profits: meaning 200k/year IN HAND money to pay a mortgage in Beverley Hills....your best bets are condo's in OC //that too in places like Irvine will cost 600k
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Old 12-27-2015, 06:22 PM
 
200 posts, read 123,673 times
Reputation: 32
Quote:
Originally Posted by pacific2 View Post
Irvine actually has some of the highest rents in OC. So, $1200/month is very atypical for that city and even the county.

Irvine also has a lot of renters and many, not all, of the $1M homes are owned by investors (a flood of money from Chinese investors has driven up prices). Of course, retirees and working owner occupiers live in others.
I am not sure where did you see $1200 apartments in IR, a decent 2 bedroom starts from 2400$/mo
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Old 12-28-2015, 10:10 AM
 
Location: TOVCCA
8,271 posts, read 10,506,470 times
Reputation: 11848
Quote:
Originally Posted by varanj_16 View Post
I am not sure where did you see $1200 apartments in IR, a decent 2 bedroom starts from 2400$/mo
That post was over a year ago
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Old 12-29-2015, 04:46 PM
 
34 posts, read 21,593 times
Reputation: 55
Native Californians are moving to the Midwest (and other places).
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Old 12-30-2015, 07:45 PM
 
109 posts, read 158,049 times
Reputation: 85
In 2014...

Quote:
Originally Posted by sydlee View Post
Crime is down in major cities like LA...
Now...

Crime in Los Angeles rose in all categories in 2015, LAPD says - LA Times

Oops.
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Old 12-30-2015, 09:17 PM
 
Location: where the good looking people are
3,438 posts, read 2,243,179 times
Reputation: 2795
Quote:
Originally Posted by MassVt View Post
Chicago is not imploding. This is utter nonsense.

Seems like it to me.
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