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Old 08-21-2016, 10:34 AM
 
Location: Encino, CA
4,535 posts, read 5,347,817 times
Reputation: 8183

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Quote:
Originally Posted by anonymous1870 View Post
Hello people,

The high cost of living, the extreme traffic, and the realization that it's almost 100% likely that I will never be able to afford a house here are making me seriously consider moving out of state.


I'd like to know if any Angelenos have dealt with this issue or are currently dealing with it. What are you planning on doing?
Dont know if this is just one of those one-post only new member rants, or if you actually want advice on what to do. But here it goes.....

You (and most anyone) CAN afford a house here in LA. As long as you have a steady job, you can do it. Here's how:

1. SAVE. Save your money. Dont save "whats left" after you pay your high speed DSL/HBO/Cinemax/Showtime cable bill, your "going out partying" fund, your "eating out at restaraunt" fund, etc. Figure out how much you want to save FIRST, then see whats left for your cable, partying, etc.

2. HAVE GOOD CREDIT. Credit is the most important thing in the world after your health. If you maintain a good credit score, the world can be yours. Heck, if you have just these two things (savings and good credit) banks/mortgage companies would almost pursue you for business. Actually, you dont even really need a steady job if you have excellent credit, this shows just how important your credit score is.

3. Start small and move up. Dont get depressed because you want and cant afford a $800,000 1000 sq ft home in West Hollywood or Studio City. Buy a small condo in Reseda or Canoga Park, live there for 2 years, build equity, the sell it, then buy a new one in Tarzana or NoHo, live there for two years, build equity, then sell it. After 2-3 condos (5-7 years) you should be ready for a small house somewhere.

The problem you probably have is that you just see the prices and get discouraged and saddened. You probably dont have a plan, or was never taught/informed on how life economics work. You just look at your pay stubs from your $40,000 year job and think "I'll never be able to buy a house". You CAN buy one, it just takes time and planning, oh...and not wanting the biggest and best in the most popular great locations first.

You know, maybe you should go to Columbus.
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Old 08-21-2016, 10:40 AM
 
17,815 posts, read 25,549,008 times
Reputation: 36267
Quote:
Originally Posted by V8 Vega View Post
With a dozen tax raising initiatives on the Nov. ballot I'd get the hell out of this Communist party dominated hell on earth too.
Than why don't you go already?

Seriously, all do on a daily basis is b**ch about CA? Sell your house in Sylmar, you will get a nice chunk of change for it, and move to TX or ID.

You're not married, you're retired........MOVE!
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Old 08-21-2016, 10:45 AM
 
17,815 posts, read 25,549,008 times
Reputation: 36267
Quote:
Originally Posted by Finper View Post
Um my friend works in a library and volunteers at a theater in Kansas so pretty sure other states have places to go to... She also owns her own home and dosn't have to share a 1 bdrm apt. Some people here are so brainwashed it's bizarre.

To the op I don't blame you for leaving I'm right behind you. Even though I own my place I'm over so cal
Yes, but she is in Kansas. It's flat, brutal winters, and humid summers. If you think Olive Garden is fine dining you will be fine.

We get one go round in life, living somewhere like Kansas to save some money vs. living someplace you enjoy with beautiful scenery, well I guess we're all different.

But at the end of your life would you rather say "I enjoyed life" or "I lived somewhere I didn't like but I was able to buy a bigger house I didn't really need", I would go with "I enjoyed life".
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Old 08-21-2016, 10:46 AM
 
958 posts, read 1,140,816 times
Reputation: 1795
Quote:
Originally Posted by neutrino78x View Post
Eh, I only make $14/hr. And I live in Silicon Valley (as in Google, Apple, Intel, HP), which is easily as expensive as Los Angeles, probably more so. I am paying 500 per month to share a one bedroom apartment with my dad; I moved back with him a couple years ago. I could move out, but then I wouldn't be able to help him with his rent, and I would likely be sharing the same room with someone else, so I'm going to stay here a few more months until I get a better job. I will probably never be able to buy a single family home here. But I grew up here. And it's Silicon Valley.
Clearly you are qualified to give financial advice to others.
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Old 08-21-2016, 10:55 AM
 
Location: Lil Rhodey
822 posts, read 849,017 times
Reputation: 1210
Quote:
Originally Posted by neutrino78x View Post
OP, the medical field is a well compensated field. Why do you say you will never be able to buy a condo, at least? A registered nurse makes $30/hr and a nurse practitioner makes 100k. Eh, even if you can't buy the condo by yourself, you can at least have a really nice room in a nice shared apartment.

Eh, I only make $14/hr. And I live in Silicon Valley (as in Google, Apple, Intel, HP), which is easily as expensive as Los Angeles, probably more so. I am paying 500 per month to share a one bedroom apartment with my dad; I moved back with him a couple years ago. I could move out, but then I wouldn't be able to help him with his rent, and I would likely be sharing the same room with someone else, so I'm going to stay here a few more months until I get a better job. I will probably never be able to buy a single family home here. But I grew up here. And it's Silicon Valley.

Sure, you can move to a flyover state, and the single family home will be cheap. But there's nothing to do except stay in your cheap single family home.

In Los Angeles, you have parks and libraries and movie theaters and museums right outside your door. You're in one of the world's Great Cities, where things happen.



LOL. LA isn't the only city with parks, libraries, and museums.
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Old 08-21-2016, 10:59 AM
 
Location: Los Angeles
2,436 posts, read 2,781,560 times
Reputation: 2284
Quote:
Originally Posted by mvpsharky View Post
[/b]

LOL. LA isn't the only city with parks, libraries, and museums.
They didn't say it was.
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Old 08-21-2016, 11:04 AM
 
477 posts, read 274,749 times
Reputation: 1316
Quote:
Originally Posted by neutrino78x View Post
Eh, I only make $14/hr. And I live in Silicon Valley (as in Google, Apple, Intel, HP), which is easily as expensive as Los Angeles, probably more so. I am paying 500 per month to share a one bedroom apartment with my dad; I moved back with him a couple years ago. I could move out, but then I wouldn't be able to help him with his rent, and I would likely be sharing the same room with someone else, so I'm going to stay here a few more months until I get a better job. I will probably never be able to buy a single family home here. But I grew up here. And it's Silicon Valley.

Sure, you can move to a flyover state, and the single family home will be cheap. But there's nothing to do except stay in your cheap single family home.

In Los Angeles, you have parks and libraries and movie theaters and museums right outside your door. You're in one of the world's Great Cities, where things happen.
No offense Neutrino, but with housing costs in SV rocketing up, I could never bet on you unless you have a radical increase in income.

I agree with you on not wanting to live in the flyover states, but I HAVE lived in San Antonio, TX and Nashville, TN... and they're not awful. They have everything you need, *some* of what you want. That's life. As I get older, I do find my "forward-thinking" taking over my brain more and more, and I warn you, you do NOT want to continue to live in Silicon Valley when you're middle-aged and have no true assets to help prepare you for your geriatric years. Remember the parable of the 'Ant and the Grasshopper?' Don't be the grasshopper.

I currently live in the west side of Los Angeles. It is GREAT to have everything and anything at my fingertips. But the cost of living never gets lower and I know I won't stay forever.
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Old 08-21-2016, 11:44 AM
 
17,815 posts, read 25,549,008 times
Reputation: 36267
Quote:
Originally Posted by mvpsharky View Post
[/b]

LOL. LA isn't the only city with parks, libraries, and museums.
No, it isn't.

But when you live in some places a park is a baseball field and a swing set.
Not a park with lakes, paddles boats, swans, and scenery. A park that has free concerts.

You have to drive 50 miles to go to museum or pay top dollar to see a third rate production of a Broadway show, also a 50 mile drive each way.

You don't have as much at your fingertips.
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Old 08-21-2016, 11:57 AM
 
3,247 posts, read 9,025,592 times
Reputation: 1525
Other than the coastal areas of LA and vista views, why are the homes so expensive. The housing stock is subpar to most major American cities. Take a look at the homes in Houston, Dallas, and San Antonio and compare to LA and it is just ridiculous the cost of homes in LA.
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Old 08-21-2016, 11:57 AM
 
Location: Ca expat loving Idaho
5,267 posts, read 4,145,563 times
Reputation: 8138
Yeah, because a home is like ten dollars there. It's an undesirable flyover state. Hence the low price. I have to share a one bedroom because I only make $14/hr. If I made 100k -- the median salary here (middle class salary) -- I could afford an apartment in Silicon Valley without roommates.


14.00 a hour to 50.00 a hour.... No problem!!! You crack me up. Your going to wake up at 50 years old and think what the f*** did I do with my life
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