If L.A. Sucks Why is housing expensive (Los Angeles, San Diego: property taxes, income)

[Ponderosa]

Originally Posted by TheRealAngelion

You are absolutely correct. People want to be in LA. Not only illegal immigrants, but college educated, white collar professionals too. LA, already the second largest city, is currently one of the fastest growing cities in the US. The weather, the diversity of people, the culture, the variety of things to do and places to go, the excitement.. etc. will keep people coming.

But it's not growing in the same way it used to. The only growth in LA county anymore is from foreign immigation and births - though there is strong growth in Riverside Co. It seems from over here in AZ that everyone is leaving LA. The people in Idaho, Oregon, Nevada and other places get the same impression. The CA home price boom is fueling our own price boom in these states, but when it pops in LA it's gonna pop here too. I need to time my exit from AZ while the market is still inflated by California migration. So I guess my question is how long can the prices in CA hold up with the exodus that is taking place? Or is there really no exodus, just the illusion that everyone is leaving?

[deeptrance]

Originally Posted by Ponderosa

The only growth in LA county anymore is from foreign immigation and births

Statistically, you're absolutely right. There has been an exodus from LA that is largely white and American citizens. I wouldn't be surprised if there's also a net exodus of Black and Hispanic citizens as well. But statistics are summaries that hide stories. Within those stats there are many cases of citizens who choose to move to LA. I still know many people who dream of moving there. A lot of it is based on the image, the Hollywood glamour, the promise of "making it big" or the allure of those beaches and the nice weather. But the stats do support your statement.

Originally Posted by Ponderosa

It seems from over here in AZ that everyone is leaving LA. The people in Idaho, Oregon, Nevada and other places get the same impression.

Same in Texas, our prices are going up in large part because of Californians selling their extremely expensive homes and thinking our prices are low. To us, they're too high! And that's actually catching up even with the Californians. I'm friends with 2 families who moved here from Santa Barbara within the last year, and the both had problems finding something they could afford given their expectations (in bold type because they could be living LARGE if they didn't feel the need to be in the most exclusive neighborhoods in gigantic houses...)

Originally Posted by Ponderosa

I need to time my exit from AZ while the market is still inflated by California migration. So I guess my question is how long can the prices in CA hold up with the exodus that is taking place? Or is there really no exodus, just the illusion that everyone is leaving?

First, it's not an illusion that there are a lot of people leaving. But "everyone" would be a wee bit of an exaggeration.

Second, the housing bubble already burst and home prices in CA have dipped a bit. It's anyone's guess how long this will last.

As for your timing in leaving AZ, I think you might have to wait a while. AZ is over-built. I have friends who bought in an extremely exclusive subdivision there a year ago, I was just visiting them recently and most of the houses in their area are still vacant. This is typical of a lot of the speculative building that goes on in anticipation of a boom market. You can throw in the towel or hang in there until the population catches up with the glut of new housing. I'd go for the latter so you don't lose money. Eventually it will catch up.

Austin went through the same thing. When I moved here in 1990, there were so many empty office buildings and unfinished shopping centers on the outskirts of town, it looked like a disaster area. But now we're hyper-inflated and can't build fast enough to meet new demand. The same thing could easily happen where you are. What would scare me about your location is WATER. A desert can't support all those golf courses and swimming pools forever, at some point something's gonna give.

[Caliguy2007]

L.A has alot to offer besides the Weather,so it will continue to attract people,and unfortunately L.A will always remain an expensive place to live in.

[montevista1]

L.A. has the best weather "bar none" and if you are in an industry like Real Estate or Law you can make a ton of money.

Either you love it here because you are rich and its a great place to be, or you are poor and contemplate whether you should move or not!

[montevista1]

I am a young professional in L.A. and I always ask myself if I should leave.

I am paying 1,000 for a 1bdr apartment. If I get married I will be paying even more for rent.

If I have children then I will have to send them to the horrible LAUSD because private school costs thousands.

My main question i ask myself is, is it worth struggling for the weather and good economy?

[gpraceman]

Originally Posted by Chochan

I live in CO and I don't like skiing, and that means 6 months of solitary confinement from Oct to March. I have been searching for job in west LA but the competition is fierce, only the top of the professional field gets to be in west LA, or you have to work your back off to establish a business of your own.
People wanna be in LA and that's why.

Where in CO are you? Up in some log cabin way up in the mountains? Winters here are no where near that bad.

People may be attracted to the jobs and the beach, but you sure have to give up a lot of quality of life to live and work there. Personally, I am gald I got my family out of SoCal and into a better life.

[deeptrance]

Originally Posted by montevista1

If I get married I will be paying even more for rent.

If I have children then I will have to send them to the horrible LAUSD because private school costs thousands.

My main question i ask myself is, is it worth struggling for the weather and good economy?

I think the reason I have LA near the top of my list of places I'd move is because I'm single and middle-aged, and I've got lots of connections there in the entertainment biz (which I'm in.) But if I were a different type of person in a different phase of life, I'd not consider LA. I wouldn't want to raise children there, for example. My nephew loves LA but after getting married and having a little girl, they moved to Santa Barbara and are SO HAPPY that they got out of LA. I get that.

As for LA having "the best weather bar none" --- what if you prefer a different type of weather? I think you're referring to what the average person likes. But some of us like thunderstorms, seasons, more rain, etc. I greatly prefer the weather in Texas to So Cal. SoCal has no sky, it's so bland. And that relentless fog and haze in spring/summer, it's really not my thing. I'd much rather look up and see the moving mountains of gigantic cumulonimbus clouds that are often dotting the central Texas sky in summer. Too hot here in summer? Yes. But so is the Valley. Not much difference except the humidity is higher here, the smog is worse there. Choose your poison.

[fairweathergolfer]

deeptrance posted:

Same in Texas, our prices are going up in large part because of Californians selling their extremely expensive homes and thinking our prices are low. To us, they're too high! And that's actually catching up even with the Californians. I'm friends with 2 families who moved here from Santa Barbara within the last year, and the both had problems finding something they could afford given their expectations (in bold type because they could be living LARGE if they didn't feel the need to be in the most exclusive neighborhoods in gigantic houses...)

LOL.

This is exactly what happened to me when we were looking in Austin and why I realized I had to prioritize what was truly important to my husband and I. I thought I could move to Austin and live on the water with massive acreage and amazing views, swimming pool etc, etc, when I realized it was a touch out of my range (when one figures in the HIGH PROPERTY TAXES!) and I would essentially be moving to a really hot area with a minimum upgrade on my home and neighborhood friendliness (well HUGE upgrade here--they are nice in Texas!).

I realized (originally from the NW), that I love the fog and temperate temperatures and most importantly living by the ocean and so did my husband. So we now know those things are more important to us then a large spread and a brand new beautiful home. As an artist I am an isolationist too and too much of my family would visit me for weeks in Austin (I come from a HUGE family), because we'd have a nice large home in which to offer them. There are benefits to living in a tiny home . Also Austin was more of a car culture then I want and it is very hard to find pedestrian based communities anymore. They are much more rare then one thinks. I am a pedestrian community type from inception or conception (take your pick) .

So we decided to look in Santa Barbara and vacation often in the Palm Springs area. But we have no children and I am a portable artist. Truth be told LA is dream land for those wanting to be in the business and there are lots of those people moving here. Combine that with the music business and other professions mentioned above, as well as the great colleges and you have droves coming here, even if it's for a truncated period of time.

Had I not had ties to the business I would NEVER have come here and unless one has a specific agenda that doesn't include raising a child and having a nice home--unless you are a multi millionaire (and even then you and your possible driver will need on occasion to be in the horrendous traffic and you will breath in the pollution, even if it isn't as bad as it used to be)--I wouldn't recommend it long term.

Oh, stay away too if intelligent conversation is very important to you and also manners. If you are not materialist and have a tendency toward wanting to stay natural and accept yourself thus, this is also not a place for you (atleast where I live). Stay far away--sad, but true.

[marilyn220]

Originally Posted by Chochan

I has been wondering too, how come everyone talks so bad about LA in the forum but LA's housing prices keep going higher and higher... Who's buying the houses?
I live in CO and I don't like skiing, and that means 6 months of solitary confinement from Oct to March. I have been searching for job in west LA but the competition is fierce, only the top of the professional field gets to be in west LA, or you have to work your back off to establish a business of your own.
People wanna be in LA and that's why.

My personal opinion and observation has been that it's the WORLD'S rich that are buying up property here. If you talk to the new owners, you'll find that they're foreigners. The same thing in NYC. Many of the people owning and buying up the property in Manhattan are also from other countries.

Our country is being sold out.

[fairweathergolfer]

Excellent point Marilyn. This is an excellent point that hasn't really been brought up here before and it is well, a little concerning. I would like to see demographic info. regarding this. I will keep my eye out. Reminds me of that recent case in Colorado where a rich Saudi was keeping a sex slave and they had to get a diplomat in there to explain why this was illegal and a problem.