Millennials simply can't afford to live in OC (San Diego, Riverside: for sale, crime)

[ottomobeale]

NM reading it wrong.

[k374]

Originally Posted by Finper

your comparing Orange County to London, Manhattan and Paris??? I guess we should be flattered??? I never said anyone should expect to buy here I said it was sad that it's so hard to. It is what it is I get that. I'd even be lying to say I hope the housing figures go down because I want to sell my place and get cash out with some good equity. Because I'm one of the middle class that's leaving...

comparing OC with London, Manhattan and Paris is the most ridiculous thing I have heard! I've been to all those places multiple times.

First off, those areas are expensive only in the dense centers where the jobs are. You can easily find a 3bd home for 250,000-300,000 EUR in a safe suburb of Paris. In addition you can easily commute from said home via the excellent RER to the center of Paris and affordably too.

In LA you would be hard pressed to find a home in ANY safe area for a reasonable amount. Any area that is affordable is either a) Extremely UNSAFE to live in b) a commuting nightmare due to severe lack of public transport infrastructure.

[man4857]

Originally Posted by maccabees_

Funny how everyone wants to Live in Liberal CA yet no one wants to move to the Red States with lower taxes.

Like they say. You get what you pay for. There's a reason no one wants to move to a red hillbilly state. Even if they offer lower taxes and no income taxes.

I wouldn't want to Live in Alaska. And they PAY you to live there. lol

I'd argue, it's not as big of a political issue as you say. It's mostly up to the cities to zone and their rules and regulations on communities. Most cities have a set of rules that developers must abide by. Otherwise, you'd see skyscrapers going up next to a single family house in the OC. It's those set of rules and regulations that stops supply and since SoCal is very desirable, prices go up.

Even if I play along with your Red and Blue state political agenda, you're essentially saying, Blue states make their places desirable and Red doesn't? Most of the expensive cities are generally located in Blue states.

[man4857]

Originally Posted by SportyandMisty

In Silicon Valley, I paid my secretary more than $80K. I paid BSEE/MSEE with no experience -- just starting out -- around $110K to $125K.

I'm shocked that OC jobs pay so little.

In Silicon Valley, 125K wouldn't even make do with the outrageous home prices of upwards of 900K to 1M. We're talking about houses costing 9-10x+ your annual income here, where as in OC, 650K/80K = 8x.
Your salary may be higher up front, but your cost of housing costs more and so does everything else, your salary does not scale proportionally to the COL. This doesn't factor in the progressive nature of taxes.

[LuvSouthOC]

Originally Posted by man4857

In Silicon Valley, 125K wouldn't even make do with the outrageous home prices of upwards of 900K to 1M. We're talking about houses costing 9-10x+ your annual income here, where as in OC, 650K/80K = 8x.
Your salary may be higher up front, but your cost of housing costs more and so does everything else, your salary does not scale proportionally to the COL. This doesn't factor in the progressive nature of taxes.

Check out the median household income in Silicon Valley.

[man4857]

Originally Posted by LuvSouthOC

Check out the median household income in Silicon Valley.

It's about 95K and your point is?

[LuvSouthOC]

Originally Posted by man4857

It's about 95K and your point is?

It is far lower than I expected.

[man4857]

Originally Posted by LuvSouthOC

It is far lower than I expected.

Well, that's true for all major expensive metros. It's a common misconception that expensive cities have higher incomes. Though it's true, once adjusted for COL, the real salary is actually lower. My job in AZ pays in the mid 70s, I'm only 5% or so off from what OC companies would be paying me, that 5% is easily made up with higher income taxes in CA and that's not even adjusted for COL yet. lol

[pacific2]

It's not just millennials who are hurting in CA, and the housing problem is not, as most of us know, confined to Orange County.

No Vacancies in California?
Housing Report Begs to Differ
http://www.nytimes.com/interactive/2...cle-click&_r=0

"California will have to build about 3.5 million homes over the next eight years, more than triple its current pace of construction, simply to keep up with expected population growth and hold down housing costs to affordable levels. But how could the state actually do it?

That question is the subject of a new report by the McKinsey Global Institute that lays out a long list of policy ideas — including many that would be contentious and politically difficult — to help the state step up housing production. Those ideas include streamlining grants of local permits, and using tax policy to withhold money from anti-growth cities that drag their feet on new housing."

[Electrician4you]

Originally Posted by pacific2

It's not just millennials who are hurting in CA, and the housing problem is not, as most of us know, confined to Orange County.

No Vacancies in California?
Housing Report Begs to Differ
http://www.nytimes.com/interactive/2...cle-click&_r=0

"California will have to build about 3.5 million homes over the next eight years, more than triple its current pace of construction, simply to keep up with expected population growth and hold down housing costs to affordable levels. But how could the state actually do it?

That question is the subject of a new report by the McKinsey Global Institute that lays out a long list of policy ideas — including many that would be contentious and politically difficult — to help the state step up housing production. Those ideas include streamlining grants of local permits, and using tax policy to withhold money from anti-growth cities that drag their feet on new housing."

The only way that's gonna happen is tearing out existing neighborhoods and making smaller lots. Plenty of houses have big yards that can be another house. Or high rise or start building out in the SAN Bernardino or Riverside. The big issue is infrastructure. The cost to build or widen freeways is astronomical.
Btw the builders are already building houses on every parcel of land that's available in OC