Why is real estate so expensive in the LA area? Seeking thoughtful and logical answers. (San Diego: buying a house, job openings)

[Bashkim]

I'm really curious. I'd really like to move out there, with the possibly of buying a house in the future, but as I look through the listings on Zillow, I really am being turned off by the idea.

$2-3 million for like quarter of an acre with neighbors right up your ass? I don't know about that.

But anyways, genuinely, why is LA so expensive? Is it because its one of the premier destinations in the country? Gateway to Hollywood? The ocean? All the above?

Really curious here ahha.

[CA4Now]

Why can't California build affordable housing:
https://www.city-data.com/forum/cali...ant-build.html

[RMESMH]

Originally Posted by Bashkim

I'm really curious. I'd really like to move out there, with the possibly of buying a house in the future, but as I look through the listings on Zillow, I really am being turned off by the idea.

$2-3 million for like quarter of an acre with neighbors right up your ass? I don't know about that.

But anyways, genuinely, why is LA so expensive? Is it because its one of the premier destinations in the country? Gateway to Hollywood? The ocean? All the above?

Really curious here ahha.

The ocean, combined with warm weather sans humidity.

Still can drive to snow skiing for a weekend.

Big diverse population allows for the potential of lots of different types of businesses to make it (lots to do, lots of different kinds of restaurants, etc.).

Different types of outdoor terrain.....flat land, mountains, water.

Have to worry about earthquakes and landslides but......tornados, hurricanes, regular snow in populated areas, regular flooding, sleet, ice storms, etc........not so much .

Water is too cold to suit me (I lived within blocks or a few miles from the beach for the better part of a decade), but I still enjoyed walking on the beach and listening to the waves (for swimming, I prefer the temperature of the water of the Gulf re beaches in Florida).

Culture and weather helps foster fitness for those who need a nudge.

[ima30something]

Same reasons you want to move to LA…it’s a desirable place to live for many.

[Winterbee]

Having lived in LA for the last 10 years and having seriously considered moving I've thought a lot about what keeps me here, there certainly are some negatives but some of the positives - it just has so much to offer, different landscapes, different climates nearby but near perfect weather a lot of the time, a vast amount of outdoor activities, many business opportunities and so many great places to visit within a few hours drive (big bear, Mammoth, Yosemite, San Diego, OC, Central Cali etc etc). And of course that great big body of water - the pacific, take a drive along the PCH and tell me that's not hard to beat.

[volosong]

Very simple. Supply and Demand. Since WWII, SoCal has drawn people to live here until it eventually grew so large that the economic opportunities became the overwhelming draw. New housing construction has not kept pace with the rate of immigration.

[Racer46]

Originally Posted by volosong

Very simple. Supply and Demand. Since WWII, SoCal has drawn people to live here until it eventually grew so large that the economic opportunities became the overwhelming draw. New housing construction has not kept pace with the rate of immigration.

Starting in the late 1960' and expanding into the 1970's retirees with pensions started to move to CA. Then Military, Aerospace and Even Car MFG started to develop leading to a lot of job openings. CA then was not expensive to live in and homes were very reasonable. My father bought a new home in about 1952 for $$7,500.00 in OC and bought one in Pasadena a couple of years before for less. Then things changed. This could not occur before as the people who were getting real pensions were too young and CA was not quite at a fast grow stage until after WWII and really not until the mid 1950's. Once people could move, they did.

[waltchan]

Originally Posted by Racer46

My father bought a new home in about 1952 for $$7,500.00 in OC and bought one in Pasadena a couple of years before for less. Then things changed.

Inflation adjusted today for 2021 is $76,187. Still far-cheaper in the 1950s than today.

[DKM]

Since the pandemic started, there have been maybe 10 days when it wasn't comfortable to be outside in normal clothes. Think about it...

[TimTheEnchanter]

Originally Posted by Racer46

Starting in the late 1960' and expanding into the 1970's retirees with pensions started to move to CA. Then Military, Aerospace and Even Car MFG started to develop leading to a lot of job openings. CA then was not expensive to live in and homes were very reasonable. My father bought a new home in about 1952 for $$7,500.00 in OC and bought one in Pasadena a couple of years before for less. Then things changed. This could not occur before as the people who were getting real pensions were too young and CA was not quite at a fast grow stage until after WWII and really not until the mid 1950's. Once people could move, they did.

I think your timing is a little off. Ford opened their first assembly plant in 1930, GM, theirs in 1936. The Douglas Aircraft Company was founded in Santa Monica in 1921; Northrop in 1928 in El Segundo, Martin Aviation in 1917 in Santa Ana, Lockheed 1912 in San Francisco and Kaiser moved to CA in 1923, from WA.

WWII did change CA, but the base for the change was already there. Because all these plants and industrialists were already in CA, they shifted to war time production and brought thousands of more people to CA. CA was also already also big with the U.S. military, especially the Navy. Naval aviation was born in Coronado CA. All the bases that were already in CA when WWII broke out blew up in size and more were added.

The retirees that moved into Sun City and like developments were mostly local retirees from all the above mentioned plants and military.

Throw in movies and TV showing people in CA all driving convertibles and fabulously tanned, the damned Rose Bowl that brought 60,000 Midwesterners in CA in Dec/Jan and they discovered they could wear shorts in Dec/Jan and the capper, the Gidget and Beach Party movies with the emergence of the Beach Boys. Suddenly everybody wanted to grab that golden lifestyle.

The 1970's was the start of the decline, even as home prices zoomed.

What do you think when you see a beautiful bouquet of flowers? How beautiful? Aren't they lovely? I can't help thinking, "they are dead and don't even know it". That is CA in a nutshell.

CA gets closer and closer to the post apocalyptic "Escape from LA" every year. The rich buy $400,000,000 yachts and 767 airplanes and the poor can't afford a modest single family house.