California Housing Market (San Diego: rentals, mortgage, credit)

[jlrobe]

The following link compares apples to apples as far as housing goes. It subjectively calculates what a 4 bedroom 2.5 bath in a livable neighborhood would cost in 100 different cities across most of the states.

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Texas is the place to be as far as housing costs go.

I was suprised to see that Boston is quite expensive.

If anyone wants to leave, this is a place to start.

[fastfilm]

Texas is an anagram for taxes: they are unnaturally high, as with Massachusetts. Why recommend an area, such as Texas, wherein one could pay 12 grand a year in taxes for a mid-sized home?

[jlrobe]

Originally Posted by fastfilm

Texas is an anagram for taxes: they are unnaturally high, as with Massachusetts. Why recommend an area, such as Texas, wherein one could pay 12 grand a year in taxes for a mid-sized home?

Becasue my uncle owns a beautiful 2700 sq ft home for 169,000 dollars in a good neighborhood in dallas. For a home like that in a similar neighborhood in a similar sized city in CA would cost you about 48K a year in mortgage payments, not to mention an additional 12K in taxes (1.25% of over a million). I dont love texas, but it is an alternative.

My link was mysteriously removed, but basically the article I linked said that

LA, SF, Boston were around 1.4 milloin for a 4 bedroom in a nice neigborhood, while Texas and other states were like 390K in comparison. You cant just look at median housing values. You have to compare apples to apples. So the article equalized things by looking at only homes in good condition, with 2200 sq. ft. 4 bedrooms, and in a "decent" neighborhood. The results are staggering. LA and SF are about 1 million MORE than homes in other states.

[shannon94]

Originally Posted by fastfilm

Texas is an anagram for taxes: they are unnaturally high, as with Massachusetts. Why recommend an area, such as Texas, wherein one could pay 12 grand a year in taxes for a mid-sized home?

There is no state tax in Texas though and you can pay 12000 a year in taxes but it's better than paying 36000 or more a year on a house payment on a house in Cali that is surely to drop in value. I moved to DFW from San Diego and I live a much better lifestyle out here now. Savings in the bank too!

[PARI]

So, how’s that housing market and inflation? With inflation on the rise and the housing market cooling, there is no doubt that we will be entering a recession. In turn, the unemployment rates will increase. To add to that mix, under the new bankruptcy provisions, you may not file a chapter 7 bankruptcy until credit counseling or “Prebankruptcy Credit Briefing” has been completed 180 days prior to filing. Who can hold on to an out of control variable rate mortgage... (If you want to read more of this article, please visit http://www.parduncollections.com and click on NEWSLETTER

[pirateprincess413]

First I want to state that my family is moving to Texas and not soon enough if I may add. My husband is in construction and he will be out of work very soon. Where as Texas has a more stable housing market (less ups and downs as far as I can tell). I am fed up with the cost of living going up double every raise. I was a stay at home mom for many years and I recently had to go back to work as soon as I thought my husband was making would be enough for us to survive only to find out even my job doesn't help. We make plenty of money and should be able to survive. Mind you I don't live in a good neighborhood because I can't afford to move up since the house costs have tripled and now we are not in a position to do anything other that head out. Good Riddance to California and all the "wonderful" things it has to offer. I am even burnt out on Disneyland.

[socketz]

The housing market in Socal has cooled noticeably. Seems most of the activity now consists of folks looking for firesales. On the flip side, investors have pulled out so there are less rentals.....combined with those sitting on the sidelines waiting for the prices to drop more....makes for a good rental market.

Like always, I predict we will overshoot the bottom and start our ride back up in 3-5 years. Simply put, it's a great place to live - just to expensive at this point for even those that make 100k+.