You have to be rich to rent in LA (Pasadena: real estate, for rent)

[seain dublin]

Originally Posted by Finper

Great so you agree with me that rent is high for newcomers.

Oh absolutely, never said it wasn't.

I frequently comment on threads when a 20 something wants to move out here with no job lined up and $3,000 in savings(which they think is a lot) not to do it.

Originally Posted by Xanathos

No, Fin is right. Rent control only applies to buildings built before a certain year, and when the old person moves out, the price can be re-adjusted to market rates. It's only good for people grandfathered in. And while prices have gone up through most of the country, there are very few places in the country where the price was already really high, and then appreciated at the rate they have here. Someone coming here cold, i.e. not having a couple hundred thousand dollars in their pocket net proceeds from the sale of their house where they came from, faces enormous challenges to live here. California wages certainly haven't kept up with the increased cost of living, that's for sure. This has very much become an inheritance city - that being, unless you get an inheritance, your challenges are almost insurmountable. I'll use that thread about the guy trying to figure out how to get here on 165 grand a year as a great example. 4 times the median household income for this country, and people were telling him to move him and his whole family into a 1 bedroom apartment, as though that didn't sound utterly insane. It's unreasonable to most of the country.

I understand how rent control works. I was bringing up the fact that many here are under rent control and paying less than someone who just blew into town.

Bad example. That guy didn't need a four bedroom house in whatever state he was in, for two people. You made a lot of excuses, the thing is many like to "showboat". Sound like he was coming from the PNW(which isn't cheap) had he rented a smaller place up there he would have more set aside to buy down here.

Originally Posted by Stephy0519

Buildings built before 1967, in the city of LA, are subject to rent control. Regardless if a re-model was done or an update. I just moved into one of these buildings--completely updated, gated parking, great management. I am also rent controlled and paying LESS than what I did back in the NYC metro.

These LA rental threads make me laugh. Yes, if you are coming from the midwest, or lower COL, rent may be a shock. However, if you are coming from another LARGE metro (NYC, Chicago, etc) the rents are not that crazy. It's also a matter of hunting and knowing how to look.

BUYING is a different story. That is 100% out of control, here.

I live on the Westside, right near the beach, for a point of reference. Currently enjoying the beach breeze from my couch.

Exactly, this seems to be lost on some people. I visited in NY(where I am from) in 2014 the COL there is much higher than here as is the rent.

You're going to pay more when you live in cities like NYC, San Franciso, LA, and Chicago vs. Orlando, Omaha, and Des Moines.

[Xanathos]

Originally Posted by Stephy0519

Buildings built before 1967, in the city of LA, are subject to rent control. Regardless if a re-model was done or an update. I just moved into one of these buildings--completely updated, gated parking, great management. I am also rent controlled and paying LESS than what I did back in the NYC metro.

These LA rental threads make me laugh. Yes, if you are coming from the midwest, or lower COL, rent may be a shock. However, if you are coming from another LARGE metro (NYC, Chicago, etc) the rents are not that crazy. It's also a matter of hunting and knowing how to look.

BUYING is a different story. That is 100% out of control, here.

I live on the Westside, right near the beach, for a point of reference. Currently enjoying the beach breeze from my couch.

So what you're saying is it's slightly easier to be serf class than the 2nd most expensive city in the country (New York) than in LA. Well, I'm sure that's comforting to some. As we all know, the American dream has long been a life of serfdom, tithing to the ruling class who deigns to let them keep a roof over their heads.

Look, I come from one of the few cities where the housing costs have gone up even more dramatically than this city, so the shock wasn't so big for me. As a matter of fact, it was dead simple, because where I came from I bought a large parcel at about $100 a square foot and sold at over $600 a square foot, which gave me an enormous amount of leverage. As such, one would think I would have your mindset about how it's not that bad and to suck it up, buttercup - but I apply logic, and logic says my situation (and yours) is anomalous. But literally *anybody* moving here from a city not named San Francisco, San Jose, Seattle, Boston, or New York City is going to be absolutely floored by how much it costs in order to get so little here.

[Xanathos]

Originally Posted by seain dublin

Bad example. That guy didn't need a four bedroom house in whatever state he was in, for two people. You made a lot of excuses, the thing is many like to "showboat". Sound like he was coming from the PNW(which isn't cheap) had he rented a smaller place up there he would have more set aside to buy down here.

.

That guy was actually a great example. All he was asking for was an average sized house (1700 square feet if I recall) with an average number of bedrooms (3). He needed a home office. Him and his wife needed a place to sleep, and they were going to have a kid. 1, 2, 3. And then what was probably a large dog. He never said what it was, but it was probably like a husky or a boxer or something since he was so intent on having a little bit of a yard.

Only in Los Angeles and New York is expecting to be able to buy a 5,000 square foot lot on a salary of 4 times the national average considered "showboating". And he didn't sound like he was coming from the PNW at all, because housing costs in Seattle are out of control, too. I had him pegged for a Denver or Phoenix man.

[seain dublin]

Originally Posted by Xanathos

That guy was actually a great example. All he was asking for was an average sized house (1700 square feet if I recall) with an average number of bedrooms (3). He needed a home office. Him and his wife needed a place to sleep, and they were going to have a kid. 1, 2, 3. And then what was probably a large dog. He never said what it was, but it was probably like a husky or a boxer or something since he was so intent on having a little bit of a yard.

Only in Los Angeles and New York is expecting to be able to buy a 5,000 square foot lot on a salary of 4 times the national average considered "showboating". And he didn't sound like he was coming from the PNW at all, because housing costs in Seattle are out of control, too. I had him pegged for a Denver or Phoenix man.

You don't need a four bedroom house for two people.

He said in his thread they came down to LA, so that indicated north of LA,as in OR or WA state. Unless he doesn't know geography.

You think LA and NY are the only cities where people put on airs? LOL. Go visit Atlanta or Dallas, plenty of McMansions there and people living beyond their means.

[the topper]

That's why most people only stay a year or less in L.A by Hollywood and West Hollywood. Got to be in Entertainment, tech, finance and or very successful private business to live in L.A. these days or just be in huge debt for being a high class show off.

[Xanathos]

Originally Posted by seain dublin

You don't need a four bedroom house for two people.

He said in his thread they came down to LA, so that indicated north of LA,as in OR or WA state. Unless he doesn't know geography.

You think LA and NY are the only cities where people put on airs? LOL. Go visit Atlanta or Dallas, plenty of McMansions there and people living beyond their means.

I hate to break it to you, but the only place LA isn't "down" from is San Diego. Hell, Las Vegas is "up" from LA. Not only that, but "down" is a completely pointless term. I say I'm going "down" to places that are North of me all the time.


And I never said that other cities don't have McMansions. I simply stated that only in LA is asking for a normal sized home considered showboating. He never said why he had 5 bedrooms, or if he even used them all. And really, it's none of our business why he has/had them or to determine whether he should have had them. His financial house was clearly in order, and there wasn't even a whiff of someone living beyond their means. It sounded like the only debt that guy was carrying were some student loans and some medical debts. He clearly wasn't from Seattle, otherwise he wouldn't be shocked at home prices coming from a 5 bedroom house. Up there, you're 1.5 million in on an average 5 bedroom.

[Astral_Weeks]

Originally Posted by Stephy0519

Buildings built before 1967, in the city of LA, are subject to rent control. Regardless if a re-model was done or an update. I just moved into one of these buildings--completely updated, gated parking, great management. I am also rent controlled and paying LESS than what I did back in the NYC metro.

The City of LA's Rent Stabilization Ordinance (RSO) applies to all residential buildings issued a certificate of occupancy before October 1, 1978. Single-family detached homes are exempt from the ordinance regardless of year built.

file:///C:/Users/mbake/AppData/Local/Packages/Microsoft.MicrosoftEdge_8wekyb3d8bbwe/TempState/Downloads/Landlord%20Tenant%20Handbook_English.pdf

[Nafster]

Originally Posted by Stephy0519

Buildings built before 1967, in the city of LA, are subject to rent control. Regardless if a re-model was done or an update. I just moved into one of these buildings--completely updated, gated parking, great management. I am also rent controlled and paying LESS than what I did back in the NYC metro.

These LA rental threads make me laugh. Yes, if you are coming from the midwest, or lower COL, rent may be a shock. However, if you are coming from another LARGE metro (NYC, Chicago, etc) the rents are not that crazy. It's also a matter of hunting and knowing how to look.

BUYING is a different story. That is 100% out of control, here.

I live on the Westside, right near the beach, for a point of reference. Currently enjoying the beach breeze from my couch.

NYC, SF - yes. Lived in Chicago and the rents were much more doable than in LA.

LA is not that expensive rent wise compared to NY and SF at all.

[Xanathos]

Originally Posted by Nafster

NYC, SF - yes. Lived in Chicago and the rents were much more doable than in LA.

LA is not that expensive rent wise compared to NY and SF at all.

Sometimes it seems as though the prevailing theory here is that the entirety of the United States population lives in but 3 cities - New York, San Francisco, and Los Angeles.

[seain dublin]

Originally Posted by Xanathos

I hate to break it to you, but the only place LA isn't "down" from is San Diego. Hell, Las Vegas is "up" from LA. Not only that, but "down" is a completely pointless term. I say I'm going "down" to places that are North of me all the time.


And I never said that other cities don't have McMansions. I simply stated that only in LA is asking for a normal sized home considered showboating. He never said why he had 5 bedrooms, or if he even used them all. And really, it's none of our business why he has/had them or to determine whether he should have had them. His financial house was clearly in order, and there wasn't even a whiff of someone living beyond their means. It sounded like the only debt that guy was carrying were some student loans and some medical debts. He clearly wasn't from Seattle, otherwise he wouldn't be shocked at home prices coming from a 5 bedroom house. Up there, you're 1.5 million in on an average 5 bedroom.

Than you have a problem.....LOL.

Actually when someone decides to share so much on here, you can most certainly question their choices. No one needs a 5 bedroom house for two people, end of story.

He didn't own the house, he was rentiing it up there, wherever up there was. You don't know where he was from or wasn't from as he never said. But saying they came down to LA does suggest from the north as in OR or WA.