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Old 01-26-2015, 09:36 PM
 
Location: Sylmar, a part of Los Angeles
8,343 posts, read 6,436,914 times
Reputation: 17463

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I bought a very small house in 88 for $100,000 and sold it in 2012 for $240,000. It was a rental the whole time and a total dump.
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Old 01-26-2015, 09:44 PM
 
1,855 posts, read 2,920,043 times
Reputation: 3997
Quote:
Originally Posted by V8 Vega View Post
I bought a very small house in 88 for $100,000 and sold it in 2012 for $240,000. It was a rental the whole time and a total dump.
Cool story bro.
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Old 01-26-2015, 11:02 PM
 
Location: Earth
17,440 posts, read 28,613,721 times
Reputation: 7477
They don't.

If you live in L.A. county, you're a renter for life, unless you inherited property.
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Old 01-26-2015, 11:15 PM
 
Location: West Hollywood
3,190 posts, read 3,186,992 times
Reputation: 5262
Quote:
Originally Posted by majoun View Post
They don't.

If you live in L.A. county, you're a renter for life, unless you inherited property.
This is obviously not true.
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Old 01-26-2015, 11:18 PM
 
Location: Earth
17,440 posts, read 28,613,721 times
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Quote:
Originally Posted by MordinSolus View Post
This is obviously not true.
There are exceptions to this, but by and large it is true - unless you're wealthy. L.A. County has among the lowest percentage of owners in the US, perhaps the lowest. John Paul Stevens' prophecy about the emergence of a landed aristocracy in California has come true.
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Old 01-26-2015, 11:31 PM
 
Location: West Hollywood
3,190 posts, read 3,186,992 times
Reputation: 5262
Quote:
Originally Posted by majoun View Post
There are exceptions to this, but by and large it is true - unless you're wealthy. L.A. County has among the lowest percentage of owners in the US, perhaps the lowest. John Paul Stevens' prophecy about the emergence of a landed aristocracy in California has come true.
Tens of thousands of properties are sold in LA county every year. That's a lot of exceptions.
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Old 01-26-2015, 11:45 PM
 
Location: Los Angeles
1,235 posts, read 1,770,568 times
Reputation: 1558
Quote:
Originally Posted by majoun View Post
They don't.

If you live in L.A. county, you're a renter for life, unless you inherited property.
And 100 percent of LA's homeless are addicts (as you said in another thread). You enjoy hyperbole don't you.....
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Old 01-26-2015, 11:46 PM
 
Location: Southern California
4,451 posts, read 6,802,921 times
Reputation: 2239
Quote:
Originally Posted by majoun View Post
There are exceptions to this, but by and large it is true - unless you're wealthy. L.A. County has among the lowest percentage of owners in the US, perhaps the lowest. John Paul Stevens' prophecy about the emergence of a landed aristocracy in California has come true.
Why own when you have rent control?
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Old 01-27-2015, 12:08 AM
 
Location: Southern California
4,451 posts, read 6,802,921 times
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Quote:
Originally Posted by majoun View Post
There are exceptions to this, but by and large it is true - unless you're wealthy. L.A. County has among the lowest percentage of owners in the US, perhaps the lowest. John Paul Stevens' prophecy about the emergence of a landed aristocracy in California has come true.
For those actually interested in numbers
Los Angeles (city) QuickFacts from the US Census Bureau

The more multifamily unit available, the lower the homeownership rate. If anything, the large number of rental units is giving more people opportunity.

Solution, take away apartments, homeownership will increase, people will be forced to move to other areas, and everyeone is happy.
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Old 01-27-2015, 12:12 AM
 
Location: Los Angeles
1,235 posts, read 1,770,568 times
Reputation: 1558
Quote:
Originally Posted by majoun View Post
There are exceptions to this, but by and large it is true - unless you're wealthy. L.A. County has among the lowest percentage of owners in the US, perhaps the lowest. John Paul Stevens' prophecy about the emergence of a landed aristocracy in California has come true.
Definitely not the lowest. The homeownership rate from the US Census:

NYC: 31%
San Fran. County: 36%
LA County: 46%

Los Angeles County QuickFacts from the US Census Bureau
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