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Old 05-13-2018, 10:08 AM
 
Location: So Ca
26,739 posts, read 26,834,489 times
Reputation: 24795

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Quote:
Originally Posted by LuvSouthOC View Post
Why it is so hard for millenials to buy homes...

<YouTube clip>
Intro to basic economics, 101. Most people know this by the time they're around 22. (And she lives in NYC, which has zip to do with housing in southern California.)
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Old 05-13-2018, 11:31 AM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,147,437 times
Reputation: 7997
Quote:
Originally Posted by CA4Now View Post
Intro to basic economics, 101. Most people know this by the time they're around 22. (And she lives in NYC, which has zip to do with housing in southern California.)
Intro to Logic 101. It has a lot to do with housing in SoCal because the circumstances are similar.
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Old 05-13-2018, 06:09 PM
 
18,172 posts, read 16,406,841 times
Reputation: 9328
It will get worse now that CA is mandating solar systems on roofs. SFH, single or dual story apts, townhouses and similar will be ok to be built, but high rise condo's and apts won't have the roof space, soooo, the Millennial's will be priced out and CA will not build up like NYC.
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Old 05-13-2018, 06:52 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,147,437 times
Reputation: 7997
Quote:
Originally Posted by expatCA View Post
It will get worse now that CA is mandating solar systems on roofs. SFH, single or dual story apts, townhouses and similar will be ok to be built, but high rise condo's and apts won't have the roof space, soooo, the Millennial's will be priced out and CA will not build up like NYC.
It won't apply to buildings past three stories; however, any additional requirements add to the bottom-line price of new homes. RIght now the I.E. is the hot spot for millenials, but eventually that too could start to see resistance.
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Old 05-13-2018, 08:53 PM
 
Location: So Ca
26,739 posts, read 26,834,489 times
Reputation: 24795
Quote:
Originally Posted by LuvSouthOC View Post
Intro to Logic 101. It has a lot to do with housing in SoCal because the circumstances are similar.
Not really. The cost of housing in New York City is not comparable to other areas of southern California; the former being much higher.
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Old 05-13-2018, 08:56 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,147,437 times
Reputation: 7997
Quote:
Originally Posted by CA4Now View Post
Not really. The cost of housing in New York City is not comparable to other areas of southern California; the former being much higher.
Did you actually watch the video? It was about the entire nation.
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Old 05-14-2018, 06:07 AM
 
2,830 posts, read 2,504,886 times
Reputation: 2737
Quote:
Originally Posted by FirebirdCamaro1220 View Post
Most people don't want to wait until they are in their 40s to start a family, or raise a kid in an apartment
Then these people should move to areas where home prices are affordable... not rocket science here.
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Old 05-14-2018, 06:12 AM
 
Location: So Ca
26,739 posts, read 26,834,489 times
Reputation: 24795
Quote:
Originally Posted by LuvSouthOC View Post
Did you actually watch the video? It was about the entire nation.
I watched about half, during which a millennial explains that the median price for a house has increased 40-something percent since she was born, that millennials began their careers in the middle of a major recession, that they change jobs on an average of 3 times in their twenties, have enormous student loan debt.....and how she knows that she herself will never be able to afford her dream house (who does in their 20s?) in NYC.

Are these new revelations?
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Old 05-14-2018, 06:12 AM
 
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
27,606 posts, read 14,615,202 times
Reputation: 9169
Quote:
Originally Posted by ryanst530 View Post
Then these people should move to areas where home prices are affordable... not rocket science here.
My point was matching yours. One poster was complaining that Californians were moving to his town, and then expat was saying that they are doing that instead of sacrificing and saving to stay in California, and my post explained why
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Old 05-16-2018, 10:45 PM
 
Location: Laguna Niguel, Orange County CA
9,807 posts, read 11,147,437 times
Reputation: 7997
3-in-10 SoCal millenials living with mom.

https://www.ocregister.com/2018/05/1...ear-u-s-highs/
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