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that's about the only affordable way to live in either of these two towns, inherit property.
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Thanks for grouping these like topics, very interesting.
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It's the new way, right?
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I don't know if it's so much "inherited" as it is that those individuals purchased their homes in a different time, different era - one when the homes in Manhattan Beach were little bunglows, not the 'nouveau uber alles' monstrosities the builders are so keen on replacing all homes with. I doubt that those little old ladies and gentlemen who are still stuck in MB because they haven't cashed out their equity and skipped town ever really would have believed that their $50K investment back in the day would mature into a little patch of soil worth seven digits.
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Actually my grandpa bought a house in dusty little Manhattan Beach because @ $10K, they were $500 less than the much more desirable part of North Inglewood where many of his coworkers lived. When he retired in the late 70's , his friends didn't feel quite the same.
They sold five years ago for $500K. It's now a McMansion. No, most of their neighbors were people who "settled" for MB and came to love it. I'd take a home with a backyard over a McMansion (sunlight is limited much like downtown urban living) so much that moss and mildew are issues. Quote:
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Whittier, Downey, La Mirada, Bellflower, Buena Park, Lakewood, Bellflower, Parts of Long Beach, Parts of the San Gabriel Valley, South Bay and the San Fernando Valley.
The Inland Empire and High Desert is not LA County. That is San Bernardino and Riverside Counties. |
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Its so bizzare what is considered middle class out there!
To the poster that said there are only 2 classes in the country now - I must disagree. Again, this seems like something quite particular to LA, at least for the time being. Just my opinion. |
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There is one right here in Los Feliz.
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I think that poster meant that middle class 30 years ago is lower class now. Houses in South Gate, Lynwood and Compton, CA are modest single family residences, 1000 sq. ft. about $450,000+. Because of the location and demographics anyone living there would be considered lower class. But, the same type of houses in Tulsa, Broken Arrow or Choctaw Oklahoma would be considered Middle class and they would be $90,000+.
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