Millennials simply can't afford to live in OC (Santa Ana, Riverside: refinance, cheap house)

[CaliRestoration]

Originally Posted by Tex Luthor

The playing field is just not the same for young folks who work hard and are looking to get a good start as independent adults these days.

Are you kidding?

My direct neighbor is 37 years old, a physician who has ownership in multiple urgent care clinics and graduated from med school with $110,000 in debt.

He bought his house 2 years ago in Laguna Beach for over $3 million at the tender age of 35.

There are PLENTY of young people in OC who can make it work, and buy homes in OC.

[payutenyodagimas]

Originally Posted by Finper

but there's no fighting Mr Bren.

Irvine Co was already there when Irvine was incorporated. i'd like to think Irvine Co created the city to help with maintenance expense

[ryanst530]

Originally Posted by Finper

There's more people here that can't afford to buy a house then can and so far no change. We also have a lot of foreign buyers.. that dosnt help

I know this sounds bad, but I would love to see foreign buyers kicked out of our housing markets, especially in high-demand areas like OC. I think it's terrible that hard working American families are unable to buy in the more desirable areas of their own country simply because wealthy Chinese (or whatever) investors/families are getting in first. Kick these people out, and ban this practice outright.

Total pipe dream, I know, but it would feel very satisfying.

[payutenyodagimas]

Originally Posted by ryanst530

I know this sounds bad, but I would love to see foreign buyers kicked out of our housing markets, especially in high-demand areas like OC. I think it's terrible that hard working American families are unable to buy in the more desirable areas of their own country simply because wealthy Chinese (or whatever) investors/families are getting in first. Kick these people out, and ban this practice outright.

Total pipe dream, I know, but it would feel very satisfying.

how about the out of state buyers?

[ryanst530]

Originally Posted by payutenyodagimas

how about the out of state buyers?

Out of state is fair. I'm talking about foreign buyers... I think US citizens should have a right to property within their own country. It's not right that foreign investors prevent American buyers from buying homes on the American housing market.

[payutenyodagimas]

Originally Posted by ryanst530

Out of state is fair. I'm talking about foreign buyers... I think US citizens should have a right to property within their own country. It's not right that foreign investors prevent American buyers from buying homes on the American housing market.

those who cant afford will still cant afford it. the foreign buyers will just be replaced by the moneyed americans from out of state

[ryanst530]

Originally Posted by payutenyodagimas

those who cant afford will still cant afford it. the foreign buyers will just be replaced by the moneyed americans from out of state

Difficult to say.

Foreign investors/buyers add to the already competitive OC housing market which just pushes property values up, and effectively prices the threshold American buyers out. Hypothetically, if all foreign investors/buyers exited the OC housing market tomorrow, the vacuum would get filled with American buyers (the way it should be anyway), and those American buyers who were previously priced out may have a chance to buy in.

Regardless, my position is based on principle. This is our country dagnabbit... American buyers should take precedence when buying property on the American housing market.

[BRinSM]

Originally Posted by ryanst530

Regardless, my position is based on principle. This is our country dagnabbit... American buyers should take precedence when buying property on the American housing market.

You're fighting an uphill battle against entrenched homeowners who enjoy seeing their equity go up on a regular basis and who also happen to be more likely to vote.

[expatCA]

Originally Posted by BRinSM

You're fighting an uphill battle against entrenched homeowners who enjoy seeing their equity go up on a regular basis and who also happen to be more likely to vote.

Plus the cities and Counties, as rising property values cause the property tax revenue to rise. They like that and do not want it to change.

[iExtrapolate]

Originally Posted by CaliRestoration

Are you kidding?

My direct neighbor is 37 years old, a physician who has ownership in multiple urgent care clinics and graduated from med school with $110,000 in debt.

He bought his house 2 years ago in Laguna Beach for over $3 million at the tender age of 35.

There are PLENTY of young people in OC who can make it work, and buy homes in OC.

..but a smaller percentage than in previous generations & the bar is obviously far higher than in previous generations.

I'm assuming that you are as wealthy and successful as he is and had to make the same level of sacrifice as him to live in the same neighborhood as him....