For everyone wondering about California's affordability-New record median home value. (houses, buy)

[NorCalMan]

Originally Posted by wac_432

Imagine if prop 13 is eliminated and all us proles have to pay property taxes commiserate with our Johnny-come-lately uber-rich neighbors?

The transition of home ownership from the middle class to the elites will be complete.

First things first. Vote NO on this November's Prop 15. If passed, this proposition will repeal the property tax protections for business and commercial properties that were established by the original 1970's Prop 13. If this portion of Prop 13 is repealed then repealing the residential property tax protections is next.

[stablegenius]

Originally Posted by wac_432

Imagine if prop 13 is eliminated and all us proles have to pay property taxes commiserate with our Johnny-come-lately uber-rich neighbors?

The transition of home ownership from the middle class to the elites will be complete.

I am curious what you consider Uber Rich?

[NJ Brazen_3133]

Median is the middle of a set of numbers. Meaning there are numbers above, but also below. So the affordable areas are the places with homes selling at below the median.

[Pro1000]

Originally Posted by CA4Now

I just Googled Fresno (random city - I've been there only once). Median home price there is $277 K, according to Zillow. There have to be hundreds of cities in this state in which the median home price is half what is listed in the OP.

(Here's another: Redding - $297 K. The only negative is that it's hotter than a pistol during the summer. And what about Bakersfield? $263 K. There are some very nice parts of Bakersfield....)

The Central Valley is way cheaper than more popular cities along the coast. As for crime issues, I'm orginially from Fresno and crime doesn't cover the entire area at all

[nmnita]

Originally Posted by Mr5150

Yes, if you want to live in LA or the Bay Area. But not so much in the rest Of the state. Big state. Big differences. You could not pay me enough to move to TX or AZ. There is a reason why LA or the Bay Area are high priced. Think of it this way: one can get a basic Ford or Chevy for under 20 k. And you can get a Lexus or BMW for 60 k . Granted, both choices will get you to the local Safeway. But which will be more fun on a road trip or a Sunday cruise?

Yes. the desirability is one thing that keeps the prices high but the job market is another.

[CA4Now]

Originally Posted by Pro1000

As for crime issues, I'm orginially from Fresno and crime doesn't cover the entire area at all

Exactly.

And to whoever left me the reputation point with the comment, "Pasadena v Fresno? ha ha u are crazy," I lived in Pasadena, and there are obviously areas that have more crime than others, as is true in most cities. Same with Venice--also lived there--with a current median home price of $1,941 K.

[HappyinCali]

Originally Posted by Need4Camaro

Can I ask why its prices increase despite the exodus?

I love CA but I couldn’t and wouldn’t pay $700k to live in a house I could get for less than half that price elsewhere just to live there. I mean, TX and GA are not California but it’s not that bad either. Much more well rounded economic systems that are not just meant for the elite too.

Because the exodus is not a thing

[Redflag71]

Originally Posted by socaliman

I agree. My mortgage is on a 360,000 loan. I could not imagine paying a 700,000 mortgage. I always wonder how there are so many people that could afford a 700,000 plus home. There is no way I could afford my home if I were to buy it right now. My property taxes would double and I would be eating top ramen every meal. I can't see how anyone who makes under 200,000 could afford a 700k home. At least if you live responsibly and save money every month and put into retirement.

I am living in the marital home post divorce with zero help from he ex but I am surviving just fine with a 260K mortgage on a home that is now worth almost 600K thsanks to the limited supply of houses 4 $ale

Going to refinance but not cash out more than 40K


I feel a drop coming in 2021 LOOK at all of the businesses gong BK due to COVID-19

[Gemdiver]

Originally Posted by CA4Now

I just Googled Fresno (random city - I've been there only once). Median home price there is $277 K, according to Zillow. There have to be hundreds of cities in this state in which the median home price is half what is listed in the OP.

(Here's another: Redding - $297 K. The only negative is that it's hotter than a pistol during the summer. And what about Bakersfield? $263 K. There are some very nice parts of Bakersfield....)

I checked prices on that city too. The lowest priced new construction home is over $300k!

[Redflag71]

Originally Posted by NorCalMan

First things first. Vote NO on this November's Prop 15. If passed, this proposition will repeal the property tax protections for business and commercial properties that were established by the original 1970's Prop 13. If this portion of Prop 13 is repealed then repealing the residential property tax protections is next.

Where can we further discuss these props?

The commercials are so confusing and deceptive...