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Old Yesterday, 02:36 PM
 
257 posts, read 81,607 times
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With all the talk and debate of people leaving L.A., can we define exactly what demographics are leaving, and why? Is it income based, job based, stress based?

I'll start. My monthly LinkedIn report says it tends to be the $40k/yr to $80k/yr crowds that are seeking out more bang for their buck. Below $40k there is a chance of qualifying for social services. Above $80k and supposedly your fine (I beg to differ).

What say you?
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Old Yesterday, 03:08 PM
 
Location: Living on the Coast in Oxnard CA
15,496 posts, read 26,264,023 times
Reputation: 19928
I beg to differ as well. Together my wife and I make around $160,000. I don't see us as having the same life that my parents had and we are living in the same area I grew up in. We are in Oxnard, but the cost of living is still high. I keep saying that to make it comfortable we need $200,000 a year.

Not that we are on our way out. My job is a big part of my life. Hard to move the hospital somewhere else.
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Old Yesterday, 03:08 PM
 
Location: East Coast
175 posts, read 235,580 times
Reputation: 222
Bang for the buck is probably the most common reason to leave LA. You have folks living on the margin who are struggling to keep afloat financially. On the other end, you have people who aren't necessarily struggling paycheck to paycheck, but are deeply frustrated by the fact that they are priced out of the market for home ownership.

40k/year is extraordinarily difficult to live off of in most of LA. You would absolutely need assistance in the form of government welfare, parents, or a significant other. Your situation would be even more perilous if you have debt (student loan, credit cards, car loan). Your savings would be close to zero and you'd be forced to have 2 - 4 roommates and/or live in a nondesirable neighborhood.
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Old Yesterday, 03:17 PM
 
4,644 posts, read 3,026,953 times
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How am I able to support a wife and kid on a little over $100K here and have as good of a lifestyle as I had growing up as a kid where my father made $250k+ in 1980s Massachusetts? I must be doing something wrong? Is it because I don't care about driving luxury cars, I'm happy owning a condo vs house, eating out 2-3 meals a week that are $12/person instead of going out for regular meals that are $100+/person? Maybe it's the fact that my wife and I don't drink. That is probably at least a $300/mo saving per person compared to most of the people I know that are drinkers? My family and I feel like we are completely satisfied with our lives and all of our needs are met but we must be missing out on something?
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Old Yesterday, 03:41 PM
 
27 posts, read 2,689 times
Reputation: 63
Quote:
Originally Posted by MuscleCar View Post
With all the talk and debate of people leaving L.A., can we define exactly what demographics are leaving, and why? Is it income based, job based, stress based?

I'll start. My monthly LinkedIn report says it tends to be the $40k/yr to $80k/yr crowds that are seeking out more bang for their buck. Below $40k there is a chance of qualifying for social services. Above $80k and supposedly your fine (I beg to differ).

What say you?
I don't know anybody leaving. But I also don't really hang out with anyone making less than 100K per year with the exception of one friend who's a waiter despite having an architecture degree. He splits an apartment with his brother and drives a beater Sentra.
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Old Yesterday, 04:03 PM
 
Location: Los Angeles (Native)
25,035 posts, read 14,742,001 times
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I think a lot of it really depends on when someone bought their home .. or if they have some kind of amazing rent control rent .

Even if someone bought their home say in 2012 , they might have bought for half of the current market value .

If their payment is low they don’t have a motivation to move.

Prop 13 keeps their taxes low too .

Or for example if you inherited a house , not super common but it happens even if someone doesn’t make much they can still afford to stay in L.A and be comfortable
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Old Yesterday, 04:25 PM
 
1,103 posts, read 812,267 times
Reputation: 1707
Quote:
Originally Posted by MuscleCar View Post
With all the talk and debate of people leaving L.A., can we define exactly what demographics are leaving, and why? Is it income based, job based, stress based?

I'll start. My monthly LinkedIn report says it tends to be the $40k/yr to $80k/yr crowds that are seeking out more bang for their buck. Below $40k there is a chance of qualifying for social services. Above $80k and supposedly your fine (I beg to differ).

What say you?
The data is a few years old, but suprisingly, to some, there is not really a drip off below 40K. Even under $15,000/yr there is a large out-migration.

https://lao.ca.gov/LAOEconTax/Article/Detail/265

Around $90,000/yr out-migration slows to a trickle and above $110,000 there is in-migration, growing larger the higher the income.

Don't expect California to run out of poor people. They have more kids than their middle class counterparts, and they also make up a large share of immigrants. California does appear to be losing a lot of it's lower-middle class.
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Old Yesterday, 04:36 PM
 
Location: Los Angeles, CA
1,655 posts, read 2,462,929 times
Reputation: 1528
There are still a lot of people hanging on here because they bought pre-spike or during recession or inherited. Once that crowd goes, the service people and the people who make this city run (police, fire, teachers, government workers, etc...) won't be replaced so easily.

I'm bailing in a few months because my same line of work pays 15-20k higher in OC or IE and costs are about the same (OC) or lower (IE) with more space and better traffic. Even though rents are about the same or even a little higher in OC, the pay is a lot better and the average apartment is newer and nicer.

That's one of the things that is misleading about judging a place by median rent. The median rent on a one bedroom might be the same or higher in Orange County, but the rental stock overall is nicer so you get a little more room and more amenities. LA still has a ton of old apartments and most of the newer stuff is crazy expensive.
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Old Yesterday, 04:37 PM
 
Location: Studio City, CA 91604
2,439 posts, read 2,763,882 times
Reputation: 4200
Quote:
Originally Posted by ryanms3030 View Post
How am I able to support a wife and kid on a little over $100K here and have as good of a lifestyle as I had growing up as a kid where my father made $250k+ in 1980s Massachusetts? I must be doing something wrong? Is it because I don't care about driving luxury cars, I'm happy owning a condo vs house, eating out 2-3 meals a week that are $12/person instead of going out for regular meals that are $100+/person? Maybe it's the fact that my wife and I don't drink. That is probably at least a $300/mo saving per person compared to most of the people I know that are drinkers? My family and I feel like we are completely satisfied with our lives and all of our needs are met but we must be missing out on something?

(tongue in cheek!)



Why, Yes! ...Yes you are!

You're supposed to drive a BMW!

You're supposed to want a huge, 5-bedroom tract home!

You're supposed to want an RV and a boat in the driveway!

You're supposed to pay for all of the premium channels on TV!

You're supposed to hit up Applebees every weeknight!

Your wife needs some "work" done!

Don't forget her weekly trips to the makeup counter at Macy's!

And her weekly salon appointments!

Don't forget her needed purse collection!

Your kiddo has to go to private school!

Your wifey and kiddo also need a Disney annual pass!

You're supposed to have a cheap landscaper

You're supposed to b*tch about the landscaper being an illegal

You're supposed to b*tch about the landscaper's kiddos needing to go to public school and --gasp!!! -- get health coverage!

You're supposed to see a homeless person and go into convulsions!

You're supposed to b*tch about how much "cheaper" it would be to live in Arizona, Nevada, Idaho or Texas where "they don't have no libs".
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Old Yesterday, 05:16 PM
 
Location: Arvada, CO
13,124 posts, read 23,925,509 times
Reputation: 12698
Quote:
Originally Posted by kttam186290 View Post
(tongue in cheek!)



Why, Yes! ...Yes you are!

You're supposed to drive a BMW!

You're supposed to want a huge, 5-bedroom tract home!

You're supposed to want an RV and a boat in the driveway!

You're supposed to pay for all of the premium channels on TV!

You're supposed to hit up Applebees every weeknight!

Your wife needs some "work" done!

Don't forget her weekly trips to the makeup counter at Macy's!

And her weekly salon appointments!

Don't forget her needed purse collection!

Your kiddo has to go to private school!

Your wifey and kiddo also need a Disney annual pass!

You're supposed to have a cheap landscaper

You're supposed to b*tch about the landscaper being an illegal

You're supposed to b*tch about the landscaper's kiddos needing to go to public school and --gasp!!! -- get health coverage!

You're supposed to see a homeless person and go into convulsions!

You're supposed to b*tch about how much "cheaper" it would be to live in Arizona, Nevada, Idaho or Texas where "they don't have no libs".
I was going to write a screenplay about this 20 years ago.

Good to see that nothing has changed.
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