5 people to a one bedroom apartment - is this the new norm? (San Francisco: appointed, rental)

[EscapeCalifornia]

Originally Posted by greggd

I think the standard and conception that kids and condos dont mix is no longer the norm.

Well it used to be that most people could afford at least a small house by the time they had kids. Now, most people are lucky to afford a condo.

[greggd]

Originally Posted by EscapeCalifornia

Well it used to be that most people could afford at least a small house by the time they had kids. Now, most people are lucky to afford a condo.

Family and Financial Planning used to also be a factor. Now the type of car seems to be the first priority.

I personally know of a family (2 kids) living in my relatives condo in West LA. Bought it brand new out of development. They have 3 cars: A Range Rover, Porsche Caynenne Turbo and I think a 5 series BMW.

Thats about $200,000 in car value right there. Then there are the vacations, dinners out, etc.

If they complained about housing prices in West LA, I wouldnt feel sorry for them.

[LALady]

Originally Posted by greggd

Family and Financial Planning used to also be a factor. Now the type of car seems to be the first priority.

I personally know of a family (2 kids) living in my relatives condo in West LA. Bought it brand new out of development. They have 3 cars: A Range Rover, Porsche Caynenne Turbo and I think a 5 series BMW.

Thats about $200,000 in car value right there. Then there are the vacations, dinners out, etc.

If they complained about housing prices in West LA, I wouldnt feel sorry for them.

The trend of owning expensive cars while living in crappy apartments or too small condo was explained to me this way - The owners feel they will NEVER be able to afford a house so might as well have the cars they want.

[LALady]

Originally Posted by UB50

I don't think this is uncommon around here. A friend of mine lives near a brand-new two-story house that must have 30 people living in it. Unfortunately, all 30 people have cars so street parking is something else in his neighborhood.

I've noticed the same phenom. Large homes in the SFV with 8 cars outside.

One day I saw a car with a pizza delivery sign on top drive up to a 750K home, the guy got out with a pizza, and went inside the house. Apparently he was one of the zillion residents (owners?) of the home.

[EscapeCalifornia]

Originally Posted by LALady

The trend of owning expensive cars while living in crappy apartments or too small condo was explained to me this way - The owners feel they will NEVER be able to afford a house so might as well have the cars they want.

Very true. It also happens among people in their 20's: They can't afford $1800/mo for rent, but they can afford $600/mo for a nice car while living at home.

[Charles]

Originally Posted by LALady

The trend of owning expensive cars while living in crappy apartments or too small condo was explained to me this way - The owners feel they will NEVER be able to afford a house so might as well have the cars they want.

It's kind of like a consolation prize.

[greggd]

Originally Posted by LALady

The trend of owning expensive cars while living in crappy apartments or too small condo was explained to me this way - The owners feel they will NEVER be able to afford a house so might as well have the cars they want.

I think a lack of foresight may be a better explaination.

[katenik]

Originally Posted by greggd

I think a lack of foresight may be a better explaination.

i think you're right, and it's nothing new. when i was a kid my father used to lend his mercedes-driving friend money to pay his mortgage. my stepmother was not pleased!

[NYSD1995]

The crappy apartment with the expensive car is epidemic here in SoCal. Very similar is the expensive car while you live with your parents.

You have to be some kind of dopey to make a move like that. I have a feeling the next generation is going to be the least successful generation ever. Thankfully there is an army of immigrants to take their place, and the flakey kids will inherit their parents' expensive homes so no one's standard of living has to fall too far.

[greggd]

Originally Posted by Sassberto

The crappy apartment with the expensive car is epidemic here in SoCal. Very similar is the expensive car while you live with your parents.

You have to be some kind of dopey to make a move like that. I have a feeling the next generation is going to be the least successful generation ever. Thankfully there is an army of immigrants to take their place, and the flakey kids will inherit their parents' expensive homes so no one's standard of living has to fall too far.

I agree with you on the nice car/live with parents comment. Thats what starts the whole me me me train of thought.

But when you say an army of immigrants to take their place, who exactly are you referring to? I can't really differenciate. To me, I've noticed a trend of young people in the work force that want it all now and dont want to work for it. It's a game and they bounce from job to job, whoever offers more, lacking hard work ethics and no loyalty, especially to the ones who have trained them. Then another trend of bailing the education to go low income. Of course everyone is not like this but it certainly seems more prevelant. Maybe I'm just getting older.