Thinking of leaving LA (Los Angeles, Woodland: real estate market, home equity, homes)

[mysticaltyger]

Originally Posted by jmac1

So you live your life comparing yourself to others?

No need for the snarky comment.

Truth be told, we all do to some degree (even though we don't admit it). And when the rich/upper middle class outbids you for even the most basic housing, your quality of life goes down, and that certainly affects your level of happiness. Psychologists have found that people who live in areas where their income is the same or higher than average are happier than those whose incomes are below average....so moving to an area where a 60K income gets you a decent apt. of your own, still allows for savings, and puts your income above average would obviously be a boost to most people's happiness. Granted, the income might dip in a lower cost area, but often the lower income still goes further in cheaper areas.

It does sound like the OP took out way too much in student loan debt, and possible spend too much on a car as well...but the student loan debt is water under the bridge. It might be worth it to sell the car, though, and get a used car instead.

[jm1982]

Originally Posted by jamills21

My only wish would be that commercial companies should not be able to flip housing. That will NEVER happen. Speculation drives up housing, especially in smaller cities. In terms of housing, it's sad that housing is more an investment than a necessity. This is not a popular opinion, and I don't care.

What do you mean by commercial companies? Most people that are flipping homes are actually relatively small operations/businesses rather than huge corporations.
Big companies don't typically play in the home flipping game. Some big hedge funds did buy up a lot of houses during the crash , but they rented them out rather than flipping them.


What drives up prices is people that are willing to pay a certain price for housing. Nobody is forced to buy a 2bedroom shack for 700k.

Even without flippers housing would still go up in price.

Also I'm not sure what you mean by 'speculation drives up housing, especially in smaller cities" do you mean small cities in the L.A county area? or elsewhere?

Housing is a necessity , but we also have private property rights.
I think overall we are better with private property rights.

[brrabbit]

As Mr Ron Paul said, it's not oil prices getting higher, it's dollar getting weaker and weaker. And land is called "real estate" for good reason.

[MItoBH]

Originally Posted by jm1982

Yeah I remember before people talking about how people were moving to places like Portland and Austin from L.A..but I hear less of that now...probably because prices have gone up there considerably. Denver seems to have some really crazy housing prices now too.

I would probably look at cities that don't have as much hype around them now, but could possibly turn into an Austin or Portland.

Pittsburgh seems to have this combination of affordability , but also a diverse economy and culture.
This is an interesting article about Pittsburgh.
What Millennials Love About Pittsburgh - The Atlantic

It would probably be more an option for people that already live on the East Coast though versus many people from L.A

I did go there a couple years ago because I wanted to check it out.

Lack of diversity and weather though were two big downsides.

With my currently set in Michigan, I have PA in second place behind CA. But it's in a distant second place because I'm so damn tired, I mean, just damn tired of sub-zero temperatures and winter. So, Philly and Pittsburgh are out. I'm heading West.

[brrabbit]

Originally Posted by MItoBH

With my currently set in Michigan, I have PA in second place behind CA. But it's in a distant second place because I'm so damn tired, I mean, just damn tired of sub-zero temperatures and winter. So, Philly and Pittsburgh are out. I'm heading West.

Yeah, enjoy heat above 100F.

[MItoBH]

Originally Posted by brrabbit

Yeah, enjoy heat above 100F.

I tolerate 105F in my bikram yoga class with no problemo.

[seain dublin]

Originally Posted by brrabbit

Yeah, enjoy heat above 100F.

It's 70 degrees in LA at 7:30pm, it's a 105 in Phoenix at the same time, maybe you're getting the two mixed up?

LA gets a few triple digit days usually in Aug/Sept, but they don't last.

And still cools down at night.

Maybe you're thinking Palm Springs?

[CA4Now]

Originally Posted by phoenixmike11

Leaving Los Angeles - Los Angeles Magazine

There was a good article about this in LA magazine (people leaving LA due to the high cost of living)...

That really is a depressing article. Starting out in one's late 20s here and going on to do that well so young in life, it would be particularly devastating to endure what this couple did. Especially if this is not where you grew up and you have no other ties to this city.

[brrabbit]

Originally Posted by seain dublin

It's 70 degrees in LA at 7:30pm, it's a 105 in Phoenix at the same time, maybe you're getting the two mixed up?

LA gets a few triple digit days usually in Aug/Sept, but they don't last.

And still cools down at night.

Maybe you're thinking Palm Springs?

LA is big, I lived in SFV. It's tripple digits every day in summer.

[CA4Now]

"Here's the troubling equation: As my house soars in market value, my daughter gets incrementally poorer and priced out of the town she grew up in.

No different really in Chicago or New York ... or even podunk places like Denver and Atlanta."
Two angels: One a city, the other a daughter - LA Times