Did anyone move out of Cali for a lower cost of living state and then moved back to Cali? (Los Angeles: for sale, foreclose)

[Tulemutt]

Originally Posted by JJonesIII

Can't pull housing out of the COL. His neighbor couldn't afford his CA home so it's irrelevant how much it appreciated or whether the cost remained stable. Got a job offer in Harlingen, Texas, and the rest is history. Easy Peasy.

Well, I didn’t say you could pull housing out of COL ... although technically I guess some people own their home outright or live rent free for one reason or another so they’d only calculate other costs.

But my question arose out of the idea that “his neighbor couldn’t afford his home.” I’m curious why not. If it was a seasoned mortgage the costs weren’t rising or as high as increasing rental market rates. So I guess he either bought over his head, lost his job, got divorced - or something along those lines?

Thing is, I read posts on a regular basis here that have people saying they can’t afford to stay in California even though they are buying their home. But, if they’re buying, their cost for the only major expense that’s very high in California isn’t rising.

[expatCA]

Originally Posted by JJonesIII

Can't pull housing out of the COL. His neighbor couldn't afford his CA home so it's irrelevant how much it appreciated or whether the cost remained stable. Got a job offer in Harlingen, Texas, and the rest is history. Easy Peasy.

Plus other costs of living are better in other States and while some are individually small, the total can be damaging to many in CA.


I currently live in FL.


No State Income Tax


Lower car registration fees by a LOT


Lower gas prices by a LOT


My utility bill, which includes trash 3 times a week is lower than my CA one was, even with A/C on all day now as mu new home is built with block and solid with Cement for good insulation..



Lower housing costs and lower property taxes due to that, even with the higher % charged,


Lower rent costs for non homeowners.


Lower parking costs at the beach (Note $25.00 a year to park on the beach in Volusia County and no charge in the city parking lots if a resident).


Lower sales tax, though CA has a few things not taxed that FL does tax, but overall better at least for me.


My insurance is about the same as it was for my home in CA as I do not need hurricane or flooding insurance though just 8 miles fro the ocean and a lot closer to the inlets.


Less congestion when driving so less gas burned


I am sure there are other things as well, but in just this areas we are speaking of thousands of dollars in after tax income saved. If someone has the money CA can be a nice place to live if you are selective (Note that applies to any State) and a lot of things to do. You just have to be able to afford it all.

[CA4Now]

Originally Posted by Tulemutt

But my question arose out of the idea that “his neighbor couldn’t afford his home.” I’m curious why not. If it was a seasoned mortgage the costs weren’t rising or as high as increasing rental market rates. So I guess he either bought over his head, lost his job, got divorced - or something along those lines?

I also don't understand this. And if it were due to the other issues you mentioned, then they had nothing to do with "high COL in California."

[BGS91762]

Originally Posted by Finper

Food ... um yes. Food is getting very expensive here both groceries and eating out.

Car ins, registration, gas, maintenance, all very high priced

Health ins, very high. I pay 500.00 a month and I'm healthy

Taxes through the roof and they keep adding more

On COL calculators it's 50% cheaper to live in Az then Ca

Nice try

From my experience food is cheaper in CA. When figuring in the cost of heating in the Midwest CA wins hands down.

[saibot]

Originally Posted by waltchan

My former neighbor moved out of California in 1998 to a conservative small town, and LOST over $1 million of net-worth after all the home prices went up quick, plus all the missing wages today that don't pay well as before. Moving to Republican is not always better, because you can easily LOSE a lot of money and ruin your life.

Originally Posted by JJonesIII

Actually, I just saw your neighbor last week and he said had he stayed, his house would have been foreclosed on because they couldn't afford to live there with the high COL (claimed they were going bankrupt). He said he's happy to have a house in his conservative small town and to be able to put food on his table (something that was tough for him in California). He also said that even though he took a salary cut, it was like he got a raise because the COL was 1/3 as much as where he came from and now he's able to save for retirement. So much for that.

Let's be honest. Plenty of people moved out of California in the 1990s for all sorts of reasons not related to high COL in California--jobs, school, family, wanting to experience a different location--and had no idea that they would be priced out if & when they wanted to return.

The decade of the 1990s was when I and most of my friends were finishing our educations, getting our first full-time jobs, getting married, buying houses (or not), starting families. I don't have a single friend who bought a house in California at that time who has left because they suddenly couldn't afford to live here. I do know many who thought they were moving away temporarily or on a trial basis, and sold their cheap-at-the-time houses. Now they deeply regret that, because they lost what would have ended up in a few years to be a ton of equity, and most of the time they have been unable to come back and buy another house.

[Mr5150]

We are good friends with a couple who moved to our area 10 years ago from FL. They are quite happy. But we’re not talking about LA or the Bay Area housing prices or traffic.

[expatCA]

Originally Posted by saibot

Let's be honest. Plenty of people moved out of California in the 1990s for all sorts of reasons not related to high COL in California--jobs, school, family, wanting to experience a different location--and had no idea that they would be priced out if & when they wanted to return.

The decade of the 1990s was when I and most of my friends were finishing our educations, getting our first full-time jobs, getting married, buying houses (or not), starting families. I don't have a single friend who bought a house in California at that time who has left because they suddenly couldn't afford to live here. I do know many who thought they were moving away temporarily or on a trial basis, and sold their cheap-at-the-time houses. Now they deeply regret that, because they lost what would have ended up in a few years to be a ton of equity, and most of the time they have been unable to come back and buy another house.

For many these are the primary reasons.



For some the COL, even if they can just afford it, causes them to see advantages in moving to a State where their money goes further and they can save for family and retirement. Depends on what is most important to a person or his/her family. I have friends from CA and others who went there and came back, as they did not like it. People are different and have various desires and needs. Remember more citizens move out of CA than move in. It is birth and foreign immigration that is growing the State.



I eft and miss many things, but on a day to day basis where I am now is much better and with the savings i can visit as I want, enjoy what I want to and go home and not have to deal with the things I do not like. Could I ever move back, yes, but not likely as my wife , also a native Californian, does not ever want to go back, except for a visit now and then.

[CA4Now]

Originally Posted by expatCA

Remember more citizens move out of CA than move in. It is birth and foreign immigration that is growing the State.

California's birth rate is dropping. And immigration has slowed.

Where are the babies? California sees slowest population growth since it started counting:
https://www.sacbee.com/news/politics...229910029.html

"California had its slowest recorded growth rate in its history last year as the country's most populous state was hit by a slowdown in immigration and a sharp decline of births."

California Inches Toward 40M People, but Growth Rate Slows: https://www.usnews.com/news/health-n...-in-california

[Electrician4you]

For the most part everything is relative.

I had a friend who moved to Montana. He makes great money there 80k a year. That’s 25k more than the average there. He loves it there and I’m happy for him.

I have friends who moved to Virginia, Texas, Georgia, Washington, Nevada, Colorado, North Carolina etc. bout 80% of them want to move back but are priced out. Even if they waited till prices dropped their houses lose value job offer may not come etc. so they are out regardless.

California isn’t for everyone. Personally when I retire I’m gonna keep my properties here and buy elsewhere. Be a resident there but keep properties here.

[JJonesIII]

Originally Posted by saibot

Let's be honest. Plenty of people moved out of California in the 1990s for all sorts of reasons not related to high COL in California--jobs, school, family, wanting to experience a different location--and had no idea that they would be priced out if & when they wanted to return.

Then they didn't understand the market or Prop 13.