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Old 06-11-2021, 11:04 AM
 
1,927 posts, read 1,900,442 times
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Quote:
Originally Posted by Bashkim View Post
$2-3 million for like quarter of an acre with neighbors right up your ass? I don't know about that.
Where are you looking? The Westside, especially near the ocean, has $2 million+ houses on small lots. But the Valley is more reasonable. You can buy a lot for $3 million in the Valley.

Yes, you'll have neighbors. L.A. is a city, even if much of it is suburban. Cities have closely packed houses, due to the high cost of land.

If you don't want neighbors "up your ass," perhaps you'd prefer a rural lifestyle? If you want a rural feeling in a city (Hidden Hills has an almost rural vibe), then you'll pay a lot.
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Old 06-15-2021, 10:09 AM
 
Location: La Jolla
4,211 posts, read 3,292,165 times
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Quote:
Originally Posted by Bashkim View Post
I'm really curious. I'd really like to move out there, with the possibly of buying a house in the future, but as I look through the listings on Zillow, I really am being turned off by the idea.

$2-3 million for like quarter of an acre with neighbors right up your ass? I don't know about that.

But anyways, genuinely, why is LA so expensive? Is it because its one of the premier destinations in the country? Gateway to Hollywood? The ocean? All the above?

Really curious here ahha.
Why did you triple the actual median home price for Los Angeles for your example? Every metro area has 2 million dollar properties if you look for them.
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Old 06-20-2021, 08:20 AM
 
Location: Corona del Mar, CA - Coronado, CA
4,477 posts, read 3,299,218 times
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Quote:
Originally Posted by Losfrisco View Post
Every metro area has 2 million dollar properties if you look for them.
But a lot of those $2 million dollar homes in other metro areas (not in CA) are mansions with acreage. My parents first house (1950s) was a 3 bedroom, 1 bath, 954 sq ft. You could literally pass the Grey Poupon to a neighbor on either side and no one leave their home. That house currently has a $2.3 - $2.5 million assessed value.

CA has very expensive housing costs along the coast and then there is a domino effect as you go further inland. The high cost is due to supply and demand, with some government regulations thrown in to raise the cost.
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Old 06-23-2021, 10:05 AM
 
Location: Corona del Mar, CA - Coronado, CA
4,477 posts, read 3,299,218 times
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Quote:
Originally Posted by WanderingWolf View Post
There are numerous high fashion and high quality shopping options for the wealthy which all started because of Hollywood......
Not quite.

Long before Hollywood became influential, towns like Santa Barbara, Santa Monica, Newport Beach and Coronado, among other resort towns, were well established as winter retreats for wealthy Midwesterners. Even San Francisco, although people in So Cal find it cold in winter, it was still very mild compared to the Midwest.

The three events that most influenced CA's growth were the Gold Rush, the Dust Bowl and WWII. Hollywood may have had a multiplier effect, but these events drove huge numbers. I think the Tournament of Roses Parade and Rose Bowl also had multiplier effects.
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Old 06-23-2021, 06:19 PM
 
368 posts, read 365,651 times
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Walking to the gym this morning, I stepped over 3 sleeping homeless and 1 female, screaming, homeless throw a bottle at a car. This is on Ventura Blvd. Whats not to like?
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Old 07-27-2021, 08:46 PM
 
Location: San Francisco Bay Area
7,708 posts, read 5,451,465 times
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Quote:
Originally Posted by waltchan View Post
Inflation adjusted today for 2021 is $76,187. Still far-cheaper in the 1950s than today.
Whatever calculator you are using is cuckoo when it comes to calculating the value of California real estate, and so is the one I just found, usinflationcalculator.com, which comes up with similar figures to what you posted. I know when I bought my house and what I paid for it, and I know what it is selling for this summer. That calculator is so far off (very low) as to be completely worthless.
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Old 07-27-2021, 10:33 PM
 
Location: Los Angeles, CA
295 posts, read 246,036 times
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Because a lot of people want to move to LA. It has a lot to offer.

Pleasant weather most of the year. The west-facing areas near the ocean probably have the best climate in the country (in my opinion). That's part of why those areas cost so much. Everyone wants to be there.

The entertainment industry draws in a lot of people, but there are lots of high paying jobs in a variety of fields. Large choice of dining, shopping and entertainment options. Close to a major port, so lots of product availability and fresh seafood.
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Old 07-28-2021, 07:58 AM
 
Location: Sammamish, WA
1,866 posts, read 933,487 times
Reputation: 3147
Quote:
Originally Posted by Bashkim View Post
But anyways, genuinely, why is LA so expensive? Is it because its one of the premier destinations in the country? Gateway to Hollywood? The ocean? All the above?

All of the above.
The main reason I'm here is because of the near perfect year-round climate and all of the amenities the L.A. metro region has to offer.
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Old 07-28-2021, 01:04 PM
 
316 posts, read 130,978 times
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Mediterranean warm and fair weather all year round. Geographically the LA basin was a natural area for a port to the rest of the US, abundance of oil, relatively flat for development, made it desirable for business and commerce back then. A combination of natural constraints (mountains), development to these limits, and government policy to protect kangaroo rats and other animals has made it very densely populated now and therefore demand is high and supply is low.
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Old 07-28-2021, 08:47 PM
 
Location: Corona del Mar, CA - Coronado, CA
4,477 posts, read 3,299,218 times
Reputation: 5609
Quote:
Originally Posted by Bashkim View Post
I'm really curious. I'd really like to move out there, with the possibly of buying a house in the future, but as I look through the listings on Zillow, I really am being turned off by the idea.
Too many people in too small an area. LA is known for good weather, a good lifestyle,good economic opportunity. A lot of homes being bought in LA in the last few years are being bought with off shore money (Asia and Middle East) and that has bumped already expensive prices up.

Government regulation/interference also adds to the cost.
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