Just can't believe it

[UB50]

Originally Posted by Need_affordable_home

My friends parents bought a huge luxury 3150 square foot house in Yuba City for $500k, this comes out to $159 a square foot. Small but decent 3 bedroom houses can be had for half that. In fact Yuba City is slightly more affordable than many parts of south Florida! The fact that theres no hurricane insurance and lower property taxes also helps in Yuba City's favor! If I wanted to relocate to California, Yuba City would be an option if I had a quarter million!

We rented a one bedroom apartment one block from the beach for $65 a month in 1981. In FLORIDA. Try to find that price now. Everything has skyrocketed, all over the USA.

[UB50]

You know, my parents fell in love with Crescent City, California back in the 1960s. They wanted to move there but the housing was too expensive and there were no jobs.

Fast forward to 2006 and the housing is still too expensive and there are no jobs.

Basically the same thing.

House prices in Los Angeles probably will fall but they will never go back to the $50,000 houses that everyone in the USA can afford. (Well, maybe -- if we get that 9.2 earthquake.)

Let's face facts. Places that "everyone" would like to live in are going to remain expensive compared to the rest of the USA.

Places with groundwater and nuclear contamination will remain inexpensive comparable to the rest of the USA. Want to buy a house on 3 Mile Island? I'll bet they don't cost as much as other areas. A lot of Nevada is fairly cheap. Of course, I'll bet Russia will be selling land around Chernobyl in a few years so you might hold out for that opportunity.

[Need_affordable_home]

Originally Posted by UB50

We rented a one bedroom apartment one block from the beach for $65 a month in 1981. In FLORIDA. Try to find that price now. Everything has skyrocketed, all over the USA.

He was giving it away by renting it for $65 a month even back then. My dad used to be a landlord in the mid 1980s and was renting out apartments in a bad area for $400 a month and was still losing money, gave up 3 years later.
Even today, some landlords break even with the rent, this is why theres so many condo conversions in Florida and there will be alot more conversions when real estate picks up again. Rent is going up fast while buying is going down.

You know, my parents fell in love with Crescent City, California back in the 1960s. They wanted to move there but the housing was too expensive and there were no jobs.

Fast forward to 2006 and the housing is still too expensive and there are no jobs.

Basically the same thing.

House prices in Los Angeles probably will fall but they will never go back to the $50,000 houses that everyone in the USA can afford. (Well, maybe -- if we get that 9.2 earthquake.)

Let's face facts. Places that "everyone" would like to live in are going to remain expensive compared to the rest of the USA.

Could have been a house bubble at that time. My dad had the same problem in San Jose 26 years ago. Houses were 1/4 million, compare that with a $40k annual salary and he has a PHD! His salary would need to be at least double, probably more to afford a starter house in San Jose! The problem today is probably even worse!


Even with a major earthquake, houses arent about to fall from $500k to $50k. I say maybe fall down to $250k and slowly rise back if another earthquake doesnt occur. If(very big IF) it fell to $50k, ill be buying there, my dad would buy several houses and many, many lots of land. So would all the speculators. Prices would go back up in a flash. "everyone" is not everyone. Many people are moving out of Florida, California, NYC, NJ and other "unaffordable" places. Yes alot of people like to live there but many simply cant afford to do so.

[speedoflight]

There would be rubble if we had a 9.2 on the Richter. Most of the homes here in the suburbs are built in the 1950s, 60s, 70s. They won't stand such a huge rocker. But even so, the land will be worth more than $50k. Inflation alone won't let any home prices in the US drop to that price.

The thing that the government needs to do to help with these housing issues is to encourage development of the other states. If every state had its own successful versions of the LA metropolitan area or Bay Area, then people will not need or want to come to LA, Bay Area, etc. The US population will be more spread more even rather than these huge clusters in some places. The US is a huge country but its population spread is not at all balanced.

Originally Posted by UB50

House prices in Los Angeles probably will fall but they will never go back to the $50,000 houses that everyone in the USA can afford. (Well, maybe -- if we get that 9.2 earthquake.)

[Goldie]

Nothing wrong with CA in my opinion. I have many family members who relocated to areas in Nevada and AZ and are regretting it every day.
CA is no different than any other large state, there is the good and the bad. It depends of where you live, yes housing is expensive but the salaries here ( Northern CA) are comparable with the cost of living, not so in some other states. Also, you have the ocean, the mountains, the desert and the valley areas within a short drive.
If I ever decided to leave I would move to Portland, or somewhere on the East Coast.

[Des_Demona]

For those of you saying that the forum is just a place where a bunch of disgruntled people are hanging out saying negative things about a place because they want to move: please check other forums to weigh your facts.

For example: The Oregon forum is full of positive commenters who say only good things about their home state. California is full of negative posts because that is the REALITY of California. There are plenty of nice places left in California, but the high cost of housing is unbelievable. If you don't already have a home/equity here, you can't really afford to live comfortably.

The overpopulation, pollution, traffic it all adds up to stress and unhappiness and this IS the truth for middle class people who don't already have homes here and would like a nice place to live. There is a whole wide world out there besides California where you can have a much better quality of life for much less money. This isn't just about trashing California - I love California... or at least what it used to be. If a lot of people are saying the same thing chances are there might be some truth to it. If newspaper articles and online journals, blogs and people actually living here are reporting these things... they are probably true.

If you love it here in California, say so, but don't try to negate what others say about it because they are only speaking their personal truths just like you.

Also, in regard to Goldie's comment: The cost of living FAR outweighs the salaries that people are paid. I understand you are just stating your opinion but there's no truth to what you say regarding rate of pay compared to housing. There's a HUGE gap compared to just about everywhere else in the nation. I agree that there are lots of things to do and see in California, but where's the fun in that really when you can't get to these places due to all the traffic?

[checar]

[quote=Des_Demona;207399] California is full of negative posts because that is the REALITY of California. QUOTE]
Sure do miss it, though. Once you get to Oregon or Arizona you may miss some things you didn't realize you'd miss. Traffic? Yeah...but oh, the view from the bay bridge toll plaza! trade-offs, etc, etc...

[wildgift]

In LA, a lot of condos are being built, and you can get into one for around $350k. The market is churning, and a lot of apartments are now available. You can get into a condo, very close in, with a household income of around $70k.

Considering that LA is a big city, it's cost of living is relatively low, or can be if you're willing to live in a working class neighborhood. Real estate is expensive, but, development is pretty rapid these days. The main problem with the city is the high rate of poverty. You want people to be making enough to pay enough rent to keep an apartment maintained, and you want them to have enough to spend and save. Otherwise, things fall apart.

LA today is like NYC used to be. Crowded, dangerous, expensive, and exciting.

[proudmommy]

Originally Posted by 2KidsforMe

Reading these posts makes my heart sick. What has happened to my beloved home state of CA? We left almost 7 years ago for the North East. When I really think about what has happened to the most beautiful and diverse state in the country I am overwhelmed with grief. Crowds, sprawl, crime, pollution, traffic, schools, immigration, crazy housing costs, how can this be? When my grandparents moved to CA after WWII from the East Coast, they went there beause it was the promised land. They went to make a better life for themselves and their family. Not anymore it seems. Seems like people are now leaving CA to do the same thing. How ironic and sad. In the 7 years we have lived back East, we had always thought we would move home again at some point. Not now! Just had to vent. Thanks for listening.

Since you've moved to boston, there's one less person crowding the freeways. boston doesn't have Crowds, sprawl, crime, pollution, traffic, schools, immigration, crazy housing costs?

[Lovehound]

Dead topic warning: This topic is almost 4 years old!

I'd say let sleeping dogs lie, although I've never known a dog to lie or tell the truth, presuming they even know the difference, or care.