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Old 11-15-2015, 10:19 AM
 
Location: SoCal
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Yep rent has been rising, but more so for big city like LA and SF.
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Old 11-15-2015, 11:46 AM
 
Location: Armsanta Sorad
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Absolutely. Gentrification has affected Los Angeles the most.
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Old 11-15-2015, 12:04 PM
 
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Quote:
Originally Posted by West of Encino View Post
Absolutely. Gentrification has affected Los Angeles the most.
Not as much as foreigner coming into town and buying a hundred houses at a time with cash
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Old 11-15-2015, 12:18 PM
 
10,097 posts, read 9,938,122 times
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Quote:
Originally Posted by ryanms3030 View Post
LA is now the most expensive rental market in the country based on percentage of income spent. The average person spends 48.9% of their income on rent. I make over $80k and with an expected 5-6% raise this year I still say it's not sustainable. Rent keeps getting jacked up every year and buying is way out of my price range. When my lease is up next year me and my family are out.

San Jose, California - America's most expensive rental markets - CNNMoney

Also notice most of the expensive markets are in CA. Koreans, Chinese and Arabs are turning this into a place where only the wealthy will be able to live
Good grief, almost half on ones income on rent? Rising rents, costs but still pretty stagnant wages. Biggest disconnect between COL and wages + rich foreign investment (a lot of it absentee) inflating the housing market, doesn't bode well for LA.
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Old 11-15-2015, 12:46 PM
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11,395 posts, read 13,338,775 times
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Quote:
Originally Posted by radiolibre99 View Post
Good grief, almost half on ones income on rent? Rising rents, costs but still pretty stagnant wages. Biggest disconnect between COL and wages + rich foreign investment (a lot of it absentee) inflating the housing market, doesn't bode well for LA.
I could barely afford LA back when I lived in there! Can't imagine it now.
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Old 11-15-2015, 12:54 PM
 
Location: Los Angeles (Native)
25,303 posts, read 21,301,626 times
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Quote:
Originally Posted by radiolibre99 View Post
Good grief, almost half on ones income on rent? Rising rents, costs but still pretty stagnant wages. Biggest disconnect between COL and wages + rich foreign investment (a lot of it absentee) inflating the housing market, doesn't bode well for LA.
Land is just too expensive in LA for affordable housing to make sense . It is also notoriously difficult to built here and expensive . This is why people that want something actually affordable have to move out to Palmdale Lancaster or out of state .
It seems it would make sense to have a high speed rail between Palmdale / Lancaster to the city of LA.
Seems likely one will get built eventually in the future .
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Old 11-15-2015, 01:16 PM
 
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Originally Posted by jm1982 View Post
Land is just too expensive in LA for affordable housing to make sense . It is also notoriously difficult to built here and expensive . This is why people that want something actually affordable have to move out to Palmdale Lancaster or out of state .
It seems it would make sense to have a high speed rail between Palmdale / Lancaster to the city of LA.
Seems likely one will get built eventually in the future .
Agreed. I've found cheaper stuff in canyon country, Palmdale, Lancaster yet they're so far away that the commute would be unbearable.
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Old 11-15-2015, 01:43 PM
 
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Do you guys think the rents will just keep going up year after year? They've stayed steady for nearly three years since I've moved, it was just in the last year that all of this just spiked. I'm doing fine now but if this keeps going up it might it more difficult to stay within city limits.
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Old 11-15-2015, 01:53 PM
 
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Quote:
Originally Posted by radiolibre99 View Post
Do you guys think the rents will just keep going up year after year? They've stayed steady for nearly three years since I've moved, it was just in the last year that all of this just spiked. I'm doing fine now but if this keeps going up it might it more difficult to stay within city limits.
Yes because it's being driven by the mega wealthy and the state of the economy doesn't effect those people. Real estate in Los Angeles is a finite resource and people keep coming here so there will always be enough demand to keep up with supply even at ridiculous prices. That's why I think buying is still a good investment even if it seems like the market is peaked, it hasn't it will keep going up
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Old 11-15-2015, 02:07 PM
 
4,213 posts, read 8,265,222 times
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As everyone else siad, housing is much more expensive. Everything else is pretty comparable.

I still can't get over how studio/one bedrooms that went for 1200-1400 in 2010/2011 go for 2000+ now. Did that much change in 5 years?!
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