What he HELL does everyone do in OC to make money? (Huntington Beach: sales, real estate market)

[SoCalCroozer]

Originally Posted by native56

Go back and read the post that started this thread about the OC wealthy. I'm not missing the point at all.

Oh please save the me the utopic propaganda that all wealthy people are smart, hardworking, selfless altruistic Gandis! That is far from the truth.

[blauskies]

Originally Posted by oc2nyc

I often have the same question. We make a good living, by most people's standards, and still struggle to live here. I can't imagine how much you have to make to have the huge house full of expensive furniture, the nice cars and fancy vacations. I often wonder what we are doing wrong, other than trying to raise four children in Southern California. I do know that when we visit family in CT, one of the richest states in the nation, people don't flaunt their wealth like they do here. Hence the reason we will be moving there soon. Many of my friends remind me that in Orange County people do what ever they can to "look" like they have money, even still, how do they maintain that? I don't think it's Old Money out here so I would love to know how these people in Newport, Laguna, etc. are doing it.

Guess you never been to Westport or Greenwich then?

[native56]

So what about it NaplesRes?

Am I missing the point? Looks to me like the thread originator is addressing the issue head on. The new buzzword on college campuses and in DC is "economic equality". That is what our poster is after.

By the way poster, I did not say that achievers are selfless or altruistic. Why should they be? It's their money. They risked, worked and earned it. Of course in the new economic-equallity-speak all money belongs to the common good. These successful people really have no right to hang on to their rewards. And people wonder why CA is sinking with thinking like this as prevalent as it is.
The politicans who are running the state into the gutter are just doing the peoples work.

[NaplesRes]

I think we probably have similar opinions on people that work hard and earn a lot of money. I just think we are interpreting these posts differently or we are both referencing different posts throughout the thread.

[gdcon]

Originally Posted by Charles

Here are the median incomes for several zips in south OC:

ZIP City Median:

92673 Talega $92,073
92679 Coto de Caza $112,998
92694 Ladera Ranch $104,306
92629 Dana Point $64,622
92677 LN $80,146
92653 LH $46,716
92692 MVe $82,690
92691 MVw $75,184
92688 RSM $74,173
92656 AV $74,688

Data from this great demographic tool:

ZIPskinny - Get the Skinny on that ZIP (demographics by ZIP Code)

I am shocked at how low these figures are! I live in Colorado Springs and our income is about what you have listed for Mission Viejo. That's good enough to be middle class here but I frankly thought there would be no way to live in Mission Viejo for under $100K at the minimum (I grew up in Mission Viejo in the 80s). How could someone with my income have a decent standard of living there? With our income and good credit, we would probably qualify for a mortgage in the $280Ks. That's pretty bottom of the barrell for Mission Viejo housing. So how do half the households there live $80K or less per year? Do they have $100K in cash lying around for a down payment? And $64K median income in Dana Point right on the coast. My dad lives there so I visit every year or two. That's a very desirable area. And half the households have incomes under $64K?
I don't get it.

[SoCalCroozer]

Originally Posted by gdcon

I am shocked at how low these figures are! I live in Colorado Springs and our income is about what you have listed for Mission Viejo. That's good enough to be middle class here but I frankly thought there would be no way to live in Mission Viejo for under $100K at the minimum (I grew up in Mission Viejo in the 80s). How could someone with my income have a decent standard of living there? With our income and good credit, we would probably qualify for a mortgage in the $280Ks. That's pretty bottom of the barrell for Mission Viejo housing. So how do half the households there live $80K or less per year? Do they have $100K in cash lying around for a down payment? And $64K median income in Dana Point right on the coast. My dad lives there so I visit every year or two. That's a very desirable area. And half the households have incomes under $64K?
I don't get it.

My wife and I lived 3 years in Colorado Springs. We sold our home on Powers right before the market tanked. I really like the Springs. Great place to raise a family. Was very affordable. But eastern Springs is very cookie cutter.

[SoCalCroozer]

Originally Posted by native56

So what about it NaplesRes?

Am I missing the point? Looks to me like the thread originator is addressing the issue head on. The new buzzword on college campuses and in DC is "economic equality". That is what our poster is after.

By the way poster, I did not say that achievers are selfless or altruistic. Why should they be? It's their money. They risked, worked and earned it. Of course in the new economic-equallity-speak all money belongs to the common good. These successful people really have no right to hang on to their rewards. And people wonder why CA is sinking with thinking like this as prevalent as it is.
The politicans who are running the state into the gutter are just doing the peoples work.

Ummmmmmm I'm quite the free market capitalist my friend. In fact I'm a staunch Ron Paul supporter. CA is sinking because of irresponsible people both rich and poor. There is a difference between enjoying the fruits of your labor and out and out greed and gluttony. With capitalism comes responsiblity and accountability, and judging by the recent bailouts of major banks and financial institutions like AIG the rich elitist pigs know nothing about these qualities nor does our government.

[bhcompy]

Originally Posted by gdcon

I am shocked at how low these figures are! I live in Colorado Springs and our income is about what you have listed for Mission Viejo. That's good enough to be middle class here but I frankly thought there would be no way to live in Mission Viejo for under $100K at the minimum (I grew up in Mission Viejo in the 80s). How could someone with my income have a decent standard of living there? With our income and good credit, we would probably qualify for a mortgage in the $280Ks. That's pretty bottom of the barrell for Mission Viejo housing. So how do half the households there live $80K or less per year? Do they have $100K in cash lying around for a down payment? And $64K median income in Dana Point right on the coast. My dad lives there so I visit every year or two. That's a very desirable area. And half the households have incomes under $64K?
I don't get it.

Many people moved there when it was the boonies and damn cheap. I know a lot of retirees that live in MV and Lake Forest and have since the early 80s. Median income means very little when you have a high number of people that bought decades ago, have low property tax, and no mello roos to worry about

[missionhome]

For the above listed zip codes using Charles' link, here is the percentage of the entire population in a zip making certain ranges (ie: 24.4% of all of Talega makes between $100,000-150,000). It seems the percentage of people making over $200,000 is the group that sets the tone of how affluent an area is:

92673 Talega of San Clemente
$100k-$150k: 24.4%
$150-200k: 9.1%
$200k +: 9.9%

92670: Coto de Caza
$100k-$150k: 25.1%
$150-200k: 14.8%
$200k +: 19.1%

92694: Ladera Ranch and Las Flores
$100k-$150k: 27.6%
$150-200k: 14.9%
$200k +: 14.2% (probably smaller in this economy, suprisingly close to Laguna Beach)

92629: Dana Point
$100k-$150k: 15.2%
$150-200k: 6.9%
$200k +: 7.4%

92677: Laguna Niguel
$100k-$150k: 24.4%
$150-200k: 9.1%
$200k +: 9.9% (more than its coastal neighbor Dana Point, but LN also has more ocean view mansions in Bear Brand, etc....)

92653 Laguna Hills
$100k-$150k: 10.3%
$150-200k: 4.2%
$200k +: 5.8%% (Nellie Gail not enough I guess to pull this up, plus many bought in Nellie Gail 20 + years ago)

92692: Mission Viejo East
$100k-$150k: 22%
$150-200k: 9.4%
$200k +: 8%

92691: Mission Viejo West
$100k-$150k: 20.3%
$150-200k: 5.9%
$200k +: 4.2%

92688: Rancho Santa Margarita
$100k-$150k: 20.9%
$150-200k: 6%
$200k +: 3.4%

92656: Aliso Viejo
$100k-$150k: 19.4%
$150-200k: 6.5%
$200k +: 4%

ALSO:
92657: Newport Coast
$100k-$150k: 17.6%
$150-200k: 9.7%
$200k +: 30.4% (Probably most affluent area of OC)

90740: Seal Beach
$100k-$150k: 12.2%
$150-200k: 4.4%
$200k +: 3.6% (too many retired folks in Leisure World)

92651: Laguna Beach
$100k-$150k: 16%
$150-200k: 7%
$200k +: 15% (little surprised this wasn't higher, expected Newport Coast numbers)

92602: Irvine
$100k-$150k: 38%
$150-200k: 17.4%
$200k +: 7.7%

[Mach50]

Here's a great example of the kind b.s. Newport company owners that rake in millions off of large corporations all over the U.S.:

Workplace Violence Prevention - Threat Assessment Group

Threat Assessment Group
Newport Beach, CA

These folks create training modules so companies can educate their personnel on workplace violence.... So you see nothing that special, but these "entrepreneurs" wait for the government to file some regulation then weave ways to create a dollar off of it.

I also know some folks who live in Newport Coast that owned and operated "mortgage" companies during the boom...they made a few million and now flaunt all around O.C...I am happy for them they were able to capitalize on others misfortune and now carry no note on their 2mill+ house.