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Old 10-29-2010, 08:52 AM
 
Location: Arvada, CO
13,827 posts, read 29,936,658 times
Reputation: 14429

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Quote:
Originally Posted by TimC2462 View Post
I've seen traditional nuclear American family of 4 still living together, after the kids have come home from college.

Even so, can you blame a large family having to live under the same roof to maintain affordable living in California?
This has plagued many of my peers.

I'm 26, and I still know of people from high school, and some of my cousins, who are still living with their parents just because they can't afford to live comfortably on their own. Yes, we are talking working college graduates here.

I can't blame them, but I sure do feel grown up compared to them.
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Old 10-29-2010, 09:31 AM
 
Location: Up in the air
19,112 posts, read 30,626,028 times
Reputation: 16395
Being 'affordable' is a very vague term. I can afford to live in California quite comfortably on my salary, about 10 minutes away from the coast in a desirable area.
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Old 10-29-2010, 12:53 PM
 
Location: Boca Raton, FL
711 posts, read 1,856,265 times
Reputation: 351
Quote:
Originally Posted by Charles View Post
So, why didn't this happen in other states? The rules were the same in all states.
The problem is California's severely restricted land markets. Since development by design cannot meet demand, prices become extremely volatile. In times of high demand, California has huge runups in prices in a very short time. When demand inevitably slacks, prices crash in a similarly steep slope.
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Old 10-29-2010, 01:09 PM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,251,117 times
Reputation: 6920
Quote:
Originally Posted by Charles View Post
So, why didn't this happen in other states? The rules were the same in all states.
It did happen in other places such as Phoenix, Las Vegas, and Florida. Probably happened more dramatically in places like these where there were lots of vacation home and move up buyers. You also had a large pool of renters making first home purchases.
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Old 10-29-2010, 01:12 PM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,251,117 times
Reputation: 6920
Quote:
Originally Posted by JetJockey View Post
Being 'affordable' is a very vague term. I can afford to live in California quite comfortably on my salary, about 10 minutes away from the coast in a desirable area.
How special for you.
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Old 11-03-2010, 07:42 PM
 
Location: Chandler, AZ
5,800 posts, read 6,567,236 times
Reputation: 3151
The #1 culprit to 'affordable housing' in this state is indeed the price of land, which has been caused by a nonstop string of rampant land restrictions by politicians for decades.

A recent front page article in the LA Times which tried to downplay California's reputation as an 'anti-business state' turned out to be downright preposterous, as do most 'affordable housing initiatives'.

The answer to the title of this thread is no.
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Old 11-04-2010, 10:39 AM
 
Location: A bit further north than before
1,651 posts, read 3,697,463 times
Reputation: 1465
CA's coastal areas have wonderful weather, beautiful geography and year-round access to the best fresh produce and great wines. These are desirable qualities, and as long as more people want to live here than there's room for them, prices will stay high.
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Old 11-04-2010, 11:36 AM
 
Location: San Francisco
1,472 posts, read 3,546,648 times
Reputation: 1583
The Central Valley is affordable from a real estate perspective. Home prices there have dropped to the levels of most Southern, Mountain and some Midwestern states (like MN, WI, IA). Sacramento is no more expensive than Austin TX for example.
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Old 11-04-2010, 12:20 PM
 
Location: UK
471 posts, read 1,830,120 times
Reputation: 193
CA can be affordable depending on your desired location and your budget. I'm still tripp'in of Goozer in Alexandria saying how expensive San Diego is. Alexandria is ridiculously expensive as San Diego and the weather is horrible! I guess me being from DC, I am accustomed to long commutes so I work in the city and live in the suburbs where it's more affordable. I like being some where near the city just don't like the high prices for a closet. I have commuted like this working in DC, NJ, NY and VA. So yes it can be affordable, I think it depends on how much you want to bend and compromise...
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Old 11-05-2010, 11:55 AM
 
Location: Living on the Coast in Oxnard CA
16,289 posts, read 32,342,958 times
Reputation: 21891
If you think it is not affordable now you should have been here in 2007. Home prices are very low and very affordable. Sure prices for Gas may lead the nation in price but we always did that. We just bought a home for $310,000 that sold in 2005 for $580,000. Not sure what it would have sold for at the beginning of 2007 but others in the area were in the mid $600,000 range. That is more than a 50% decline in three years.
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