Does ANYONE like living in LA? (Riverside, Pasadena: crimes, shops, safe)

[smdensbcs]

Originally Posted by bophisto

A great way to build wealth is purchasing a home.

Sorry to keep beating a dead horse, but I'd gently suggest the way to build wealth through housing is to buy the home BEFORE it appreciates in value 2,500% over a fifty year period, not AFTER a 2,500% run-up in prices. I'm not a math major, but I think a house that sold for $50,000 in 1962 (fairly common) that sells for $1,250,000 today (also fairly common, I believe) has appreciated by 2,500%. Someone else can do the math, but I suspect that rate of annual appreciation is quite a bit higher than the historical average.

Now, either that rate of appreciation will continue, and the house will be worth $31,250,000 in 50 years and you've made some serious money ... or ... that rate of annual appreciation was maybe the result of some potentially unsustainable (at best) or artificial (at worst) factors, in which case maybe purchasing a home that has appreciated 2,500% over the last few decades may be more like purchasing tech-heavy NASDAQ mutual funds in 1999, which at the time also seemed like a great way to build wealth.

I tend to be slightly risk averse, but I prefer the odds to be in my favor when I gamble, which is why I don't gamble. That character flaw will probably keep me from ever owning a $31 million dollar 1,125 square foot home in my doddering old age.

[bophisto]

Yes, I totally agree with you! I don't think that 1.25 million house will ever be 31million in 50 years. A family friend bought a house in Brentwood area in the 1970s I beleive she paid like $76,000 or something for it (might of been less) and she ended up selling it recently for about $1.1million a couple years back . The people that bought it did a major rehab/remodel job on it and are now trying to sell it for $3.2MILLION!

I perhaps did not state it clearly, but I was suggesting that it's probably best to purchase in an area of the country that has the potential for appreciation..but has not already appreciated widely in a "relatively" short amount of time.

Perhaps we will never see the same kind of crazy appreciation that some people have profited from in these prime L.A areas...but I am sure there must be certain cities that will appreciate significantly and return a higher rate of return than the stock market would (especially when the return is leveraged as many homes purchases are).

[bigdumbgod]

Originally Posted by smdensbcs

Sorry to keep beating a dead horse, but I'd gently suggest the way to build wealth through housing is to buy the home BEFORE it appreciates in value 2,500% over a fifty year period, not AFTER a 2,500% run-up in prices.

I'm not a gambler, either, so unless wages/salaries go up 2,500% in that time, the housing price appreciation might just have to stabilize a bit before jumping into that quagmire.

[Baryon]

Do you reckon an environmental engineer salary is enough for a single man to live decent in LA?

[Fontucky]

That question assumes a knowledge of what an environmental engineer earns. Just state a figure, you'll get your answer a lot faster.

[BarcelonaFan]

I think this thread scared me away from LA. And no the movies do not portray LA as glamorous. They portray HALF of LA as glamorous and the other half a wild west wasteland where you go to die.

So which is it? Is it a crime infested city or are there just places to avoid?

My fiance and I will be working in Burbank and will be looking for a place in NOHO. Is this a good area or should we stick to just living and working in Burbank?

[bigdumbgod]

Originally Posted by Fontucky

That question assumes a knowledge of what an environmental engineer earns.

Fancy term for "gardener?"

[iamtall]

Originally Posted by BarcelonaFan

I think this thread scared me away from LA. And no the movies do not portray LA as glamorous. They portray HALF of LA as glamorous and the other half a wild west wasteland where you go to die.

So which is it? Is it a crime infested city or are there just places to avoid?

My fiance and I will be working in Burbank and will be looking for a place in NOHO. Is this a good area or should we stick to just living and working in Burbank?

Stick to Burbank! Burbank has a friendlier feel to it. Burbank for the most part has tiny homes on tiny lots, so people have to get to know eachother, because of their proximity. It is more of a working class community. There are nice parts of Burbank, and terrible parts. Drive through and see, you can definitely tell when it goes from good to bad. Generally closer to the mall and into the hills is nicer. By the railroad tracks also generally is bad.

Drive through, you can see what I am talking about.

I do not recommend North Hollywood!

[Fontucky]

Originally Posted by bigdumbgod

Fancy term for "gardener?"

Possibly. I suppose the guys who drive for me are "freight conveyance engineers."

[Steelers Fan]

Originally Posted by BarcelonaFan

I think this thread scared me away from LA. And no the movies do not portray LA as glamorous. They portray HALF of LA as glamorous and the other half a wild west wasteland where you go to die.

So which is it? Is it a crime infested city or are there just places to avoid?

My fiance and I will be working in Burbank and will be looking for a place in NOHO. Is this a good area or should we stick to just living and working in Burbank?

LA does have a very glamorous life to it, and it also has a very tough aspect to it. It's a humongous city that is made up of many smaller cities over a vast area. It has some problems, yes, but most of those problems are in specific areas like South Los Angeles, North Hollywood (parts of it), East Hollywood, East Los Angeles (actually, I never really here much about this area much, so that's the good news) the Harbor areas, central parts of the San Fernando Valley, Pomona, etc. There are more areas I didn't mention, but you get the idea. I wouldn't call it crime infested; I would just call it places to avoid (like any other major city). It's a vast city and you will always have certain areas of a big city that has its fair share of problems. With that said, the crime rates have been dropping big time each year and LA isn't even close to as dangerous as some other cities in our beloved country.

As for Burbank or NOHO, the arts district of NOHO seems fine to me. The problem is that the rest of North Hollywood is less desirable (for most). I would definitely stick to Burbank (where I actually work).

If I were you, I would take a trip out here before making this decision. You are rightfully nervous about this move and should know what you're getting yourself into. Play it safe and plan a quick trip out here, you'll thank me for suggesting this. LA might blow you away in a positive way, or you might just think it's not for you in the end. But if you make it out here, please try to see as much of the West Side & South Bay areas as you can. Oh, and try to see some of the San Fernando Valley as well. You'll see that the nice parts of LA are unlike anything you have ever seen. I haven't even lived here for 2 years just yet, and I have really enjoyed it.

I hope this helps somewhat.