Why I'm predicting Inglewood is the true next "up-and-coming" area in South/Western Los Angeles (Palmdale: renting, mortgage)

[jacktravern]

Originally Posted by OyCrumbler

If things in LA go anything like they did in the Bay Area or NYC, this post is going to look incredibly quaint several years from now. If people perpetually wait until they make enough to buy into that nice neighborhood in a city with rapidly appreciating housing costs, then they'll just end up moving out of the area completely or renting forever. You buy where it isn't perfect or even quite good and deal with what issues the neighborhood has as it improves.

For the bolded part, you do realize that everybody is not into this mentality right. Buy in a bad neighborhood and deal with issues!!!! WTF. Thats like saying date a an obese woman and stay with her until hopefully she loses the weight. How about getting a nice looking woman to begin with.

I mean yeah, some people don't mind being the ones to, I guess if you want to say build up a a neighborhood, but some people would rather move to an area that's already up and running. And those hosuing are selling for those ridiculous prices because somebody out there will but them, even at the risk of being house poor and dealing with serious quality of life issues.

There's a a difference being in a place where you hear a few explosions and they ar elikely fireworks, and hearing the same explosions and you know that its gunfire.

[jacktravern]

Originally Posted by ima30something

Similar, I use HouseCanary: https://www.housecanary.com/

It's much more accurate than Zillow / Redfin, however i do take it with a gain of salt. We aren't planning on selling anytime soon, so it really doesn't matter at this point.

Can you define "soon" because your post tend to contradict your reality.

[OyCrumbler]

Originally Posted by jacktravern

For the bolded part, you do realize that everybody is not into this mentality right. Buy in a bad neighborhood and deal with issues!!!! WTF. Thats like saying date a an obese woman and stay with her until hopefully she loses the weight. How about getting a nice looking woman to begin with.

I mean yeah, some people don't mind being the ones to, I guess if you want to say build up a a neighborhood, but some people would rather move to an area that's already up and running. And those hosuing are selling for those ridiculous prices because somebody out there will but them, even at the risk of being house poor and dealing with serious quality of life issues.

There's a a difference being in a place where you hear a few explosions and they ar elikely fireworks, and hearing the same explosions and you know that its gunfire.

I assume you read the rest of my post. This is under the assumption that gentrification racks through LA’s urban core in a similar way to how it has in San Francisco and NYC (and to be quite honest, how it’s been proceeding through LA’s urban core). I didn’t say anyone had to do it—there’s the explicit alternatives of moving out of LA entirely or renting forever. Those are fine if you are fine with it, but wage growth isn’t tracking so well with housing price growth and Inglewood would not be the first less than perfect neighborhood to dramatically redevelop given LA’s last two decades.

[Tuscan80]

Originally Posted by ima30something

You just made my point. Crime happens everywhere in a big city. According to think link you posted, Compton has less crime than Hancock Park, Beverly Grove and Venice, lol.

This link doesn't even have data on Inglewood. JackTavern is trolling is taking up half the posts in this thread
negating anything positive anyone says about Inglewood. Sorry not everyone can afford houses in Malibu or whatever he deems "safe".

Tell me - if not Inglewood, all-knowing Jack, where would YOU have bought?

[jacktravern]

Originally Posted by Tuscan80

This link doesn't even have data on Inglewood. JackTavern is trolling is taking up half the posts in this thread
negating anything positive anyone says about Inglewood. Sorry not everyone can afford houses in Malibu or whatever he deems "safe".

Tell me - if not Inglewood, all-knowing Jack, where would YOU have bought?

I know, if your honest about a group.... you're racist.
If you're honest about a neighborhood...you're trolling

As to Where? Plenty of locations between Malibu and Inglewood.
I would tell you but your answer reeks of being a douche so no. Do your own research.

I've been joking anyway, Inglewood rocks!!!! Low crime, no gangs, great COL, clean, good schools, airplanes constantly overhead, and even cheap real estate....what's not to like.

[ima30something]

Originally Posted by Tuscan80

Tell me - if not Inglewood, all-knowing Jack, where would YOU have bought?

Are you kidding? He doesn't own anything. I'm sure he rents an apartment somewhere on the Westside and is upset he can't come up with a downpayment to his perfect dream home on a $60k salary.

[jacktravern]

Originally Posted by ima30something

Are you kidding? He doesn't own anything. I'm sure he rents an apartment somewhere on the Westside and is upset he can't come up with a downpayment to his perfect dream home on a $60k salary.

Ummmmmm, do you have the actual deed to your house???? We're all renting in spitw of what you may believe. You won't ever own that place oturight most likely. Maybe if you had a 15 year mortgage you would actually own it in 14 years, but you're already looking to leave town in August because CA is "too expensive"
Wahhhhhh

And actually, I do rent a nice apartment on the south part of the valley, with rent less than $1100 and I pay ZERO utilities with an income similar to your own. Imagine that. I'm sure I have alot less overhead than you also. Could I get a condo over here....sure, but I can move whenever I want and don't pay taxes or repairs on this place, while your stuck in the ghetto. I wouldn't take that house from you for free.

Better luck for you maybe in Nashville.

[OyCrumbler]

Originally Posted by jacktravern

Ummmmmm, do you have the actual deed to your house???? We're all renting in spitw of what you may believe. You won't ever own that place oturight most likely. Maybe if you had a 15 year mortgage you would actually own it in 14 years, but you're already looking to leave town in August because CA is "too expensive"
Wahhhhhh

And actually, I do rent a nice apartment on the south part of the valley, with rent less than $1100 and I pay ZERO utilities with an income similar to your own. Imagine that. I'm sure I have alot less overhead than you also. Could I get a condo over here....sure, but I can move whenever I want and don't pay taxes or repairs on this place, while your stuck in the ghetto. I wouldn't take that house from you for free.

Better luck for you maybe in Nashville.

How many years are you going to spend paying off someone else’s mortgage instead of your own? Is that the game plan?

I get your mentality which makes sense in some instances. The only issue is if you plan on sticking around LA for a while, because your wage may not track with your housing costs. That happened in the Bay Area and NYC. With that, those who had intended to stick around got pushed out very far into the boonies or out of the area entirely, while those who made the unthinkable error of buying into less than ideal neighborhoods saw their housing prices remain stable while their neighborhoods drastically changed for the better. Of course, it’s not guaranteed that LA goes down the same route.

[jm1982]

Originally Posted by OyCrumbler

How many years are you going to spend paying off someone else’s mortgage instead of your own? Is that the game plan?

I get your mentality which makes sense in some instances. The only issue is if you plan on sticking around LA for a while, because your wage may not track with your housing costs. That happened in the Bay Area and NYC. With that, those who had intended to stick around got pushed out very far into the boonies or out of the area entirely, while those who made the unthinkable error of buying into less than ideal neighborhoods saw their housing prices remain stable while their neighborhoods drastically changed for the better. Of course, it’s not guaranteed that LA goes down the same route.

In L.A a lot of neighborhoods have gone downhill as prices have gone up.
Many people will tell you how nice things were back in the day and we didn’t have all these homeless encampments etc .

Prices going up doesn’t necessarily mean the neighborhood has improved . That’s more true in other states .
California is an interesting type of market . A rising tide lifts all boats here .
Prices going up doesn’t necessarily mean gentrification.

[OyCrumbler]

Originally Posted by jm1982

In L.A a lot of neighborhoods have gone downhill as prices have gone up.
Many people will tell you how nice things were back in the day and we didn’t have all these homeless encampments etc .

Prices going up doesn’t necessarily mean the neighborhood has improved . That’s more true in other states .
California is an interesting type of market . A rising tide lifts all boats here .
Prices going up doesn’t necessarily mean gentrification.

Yea, that's quite possible since prices have gone up pretty much everywhere in Los Angeles and saying whether or not a neighborhood has improved is difficult since improvement can encompass a lot of factors and people weigh those differently. Also, people get old and used to things a certain way, so there's always going to be some contingent of people who take change even when it's not necessarily good or bad, to be not to their liking.

Those homeless encampments are pretty intense. Does Inglewood seem heavy hit with them?