Bye-bye Silver Lake, hello Pacoima: How one couple tackled L.A.'s sky-high real estate prices (Anaheim: condominium, crime)

[CA4Now]

From Letters to the Editor about this article:

To the editor: This was not a column about the vanishing middle class, which is a large issue in this country.

This was nothing more than a complaint about how the classic economic theory of supply and demand affects the price of a commodity for which a relatively fixed quantity is available. After all, nobody can manufacture more land, and even if density was vastly increased, prices in the more central parts of Los Angeles will remain high.

What came across is that this couple wanted everything in their new home: a nice climate, close to work or easy public transportation, decent size, safe for them and their dog, no major renovations needed, hip restaurants and more. And they did not expect to pay much for all that.

Nor were they willing to make the trade of “precious hours,” which a lot of other people make not only by commuting, but by working extended hours. What, should we force the sale of housing at an “affordable” price with a lottery to determine which “deserving” couple gets it?

The competitive market for housing does not well illustrate the plight of the vanishing middle class.
-Stephanie Scher, Los Angeles

Housing prices run middle-class buyers out of Los Angeles - LA Times

[majoun]

Originally Posted by jm1982

Yep there are definitely some townhomes or condos they could of bought for the same payment..even taking into account HOA in considerably nicer parts of the valley.

Definitely.

They should have gone condo or townhouse and wound up in a better area.

[jacktravern]

Originally Posted by jm1982

Not sure how great having a yard is there considering one of the neighborhood dogs killed their dog already

LOL Ok maybe it is the way you phrased it, but it came off funny even if the act really isn't. Although I can't help but laugh sometime at the nativity of native mid-westerners when they hit the big city

Originally Posted by jm1982

Yep there are definitely some townhomes or condos they could of bought for the same payment..even taking into account HOA in considerably nicer parts of the valley.

Yeah, seriously. They were doing a 1 bedroom in Silverlake which seemed to be fine for them considering they had grown up kids, they didn't have to do what they did. I recently saw a listing for a 1 bedroom Condo in ENcino for 240k. I think you needed 20% down though but if you could swing that, the monthly Mortgage was like 1000, and taxes on average were 3 k per year. They really didn't look hard to be honest.

There are rents in solid neighborhood still for under 2k if you put boots on the ground and really look. And I'm talking, Northridge, Sherman Oak, Tarzana, ect......

[HB2HSV]

Originally Posted by majoun

Definitely.

They should have gone condo or townhouse and wound up in a better area.

That's what I was thinking. A better neighborhood also appreciate faster than a bad one.

[HB2HSV]

Originally Posted by TracerOW

But SFRs appreciate faster than condos. And how much more will Santa Monica appreciate in price vs. Pacoima? There's a lot less upside in SM right now.

That is the question. Does a condo in Santa Monica appreciate faster than a SFR in Pacoima?

I know where I would rather live.

[GSR13]

Originally Posted by HB2HSV

That is the question. Does a condo in Santa Monica appreciate faster than a SFR in Pacoima?

I know where I would rather live.

No, *this* is the question - Does a condo in Santa Monica depreciate faster than a SFR in Pacoima?

Bubbles always burst in a much faster time frame than they take to form.

p.s. interesting that both our screennames sound like exotic diseases concocted in government labs, no?

[majoun]

Originally Posted by GSR13

No, *this* is the question - Does a condo in Santa Monica depreciate faster than a SFR in Pacoima?

Bubbles always burst in a much faster time frame than they take to form.

p.s. interesting that both our screennames sound like exotic diseases concocted in government labs, no?

SM real estate doesn't depreciate, due to something called a beach.

[CA4Now]

This couple chose to buy their first home in Murrieta. (That is one HECK of a commute to Huntington Beach every day.)

"The couple ditched their $1,644 one-bedroom apartment in Orange County and this spring purchased a new $430,000 house in the Riverside County city of Murrieta, becoming homeowners for the first time."

A new generation of young home buyers is tiptoeing into the market - LA Times

[jm1982]

Originally Posted by CA4Now

This couple chose to buy their first home in Murrieta. (That is one HECK of a commute to Huntington Beach every day.)

"The couple ditched their $1,644 one-bedroom apartment in Orange County and this spring purchased a new $430,000 house in the Riverside County city of Murrieta, becoming homeowners for the first time."

A new generation of young home buyers is tiptoeing into the market - LA Times

Yeah like 75 miles it says .


But but I thought the millennials didn't want to buy real estate..
“They are finally ready to buy,” Skylar Olsen, a senior economist with real estate firm Zillow, said of millennials.

I guess they stopped buying avocado toast and were instantly able to buy a home!
Amazing the bs peddled in MSM


"Freely spending on avocados — the pricey, popular superfruit beloved by young people — may be one of the reasons why some young people can’t afford a house, according to Australian millionaire and property mogul Tim Gurner."
http://time.com/money/4778942/avocad...s-home-buying/

[Des-Lab]

Hey where are all the secret stash, reserved-for-the nice-cool-kids super deals at?

I want and deserve a brand new four or more, 3000+ sq foot brand new SMH with all the modern day amenities on at least a quarter acre lot. It has to have a beach view, be on a cul-de-sac and be within walking distance to worldy stores and A-list entertainment?

I should also point out that I made some cool YouTube videos. So naturally I have to be close to Hollywood because all of the studios are going to be begging me to write, produce, and star in all of their next blockbuster epics for the next decade.

Budget is not an issue. I have a $200,000 budget here.