Are long time residents being priced out of Orange County yet? (Empire: rent, insurance)

[Electrician4you]

Originally Posted by expatCA

While prices go up and down the end result is up. That will not change as long as people want to live in SoCal and have money. This is not a SoCal/CA thing as it happens everywhere where people think/want they need to live. As to the prices being bad, you can make more money in equity now than in other investments. Once the interests rates rise, that will change, but I suspect with minimal impact on housing prices other than a slowing of the rise.

I look at a 3/2 house in SD that sold new for $22,000 in the early 70's, and $48,000 in the late 70's and by 2008 was worth about $500,000 and in 2012 dropped to about $300,000 and now is back up to about $450,000 and rising. Prices will always rise over time. The problem is when they drop it is usually related to the economy and people then have less money or it is harder to borrow and they can't take advantage of it, unless they started saving way ahead and most don't, they just spend and spend and ... well spend on useless junk to feel good.

I have no debt and own my home with no mortgage. Took planning and self control.

Absolutely true. This is why for me it makes no sense to buy now.

The housing market IMO is very rate sensitive. Unless the rates rise so slow as to keep up with the rise of economy, any fast hikes will kill the market. If rates stay around 4.25 market will schlep along. If it jumps to 5.25 or higher it's gonna have a impact.
If the market craps out the FED will just start buying MBS again.

[Mach50]

Originally Posted by David Aguilar

My parents (father grew up in Santa Ana, my mother in Huntington Beach) in 1986 to Corona, my brother and I in tow. We moved from Santa Ana. My father has been back in OC since 1991, and will never leave again.

Every single one of my cousins (father's side) grew up in OC. Some have moved to Corona, Chino Hills, Rancho Cucamonga, etc. Some have made their way back to OC, even at a decreased standard of living. All are dying to be back in OC if they aren't already there.

This is not a new phenomenon. It has been going on since at least the mid-late 1970's.

I still remember my parents driving through Irvine in 1991 seeing homes for 170k saying we need to buy now before it goes crazy.

[PeaceOwl]

Serious thinking about moving from OC to Nevada, or at least a more affordable town in Ca.
Sick of the cost of living, the 5 and 405 nightmares and the overcrowding. Especially Irvine.

[Electrician4you]

Originally Posted by PeaceOwl

Serious thinking about moving from OC to Nevada, or at least a more affordable town in Ca.
Sick of the cost of living, the 5 and 405 nightmares and the overcrowding. Especially Irvine.

It's crazy man. People screaming to get in people screaming to get out. It's all out of whack. I'm hoping I can last 5 more years and sell everything and gtfo buy a bunch of properties out of state to live in and rent and finally retire and just putt around fixing crap. Somewhere like Idaho, Montana Wyoming. Less people no crazy California crowds. While I love California as tolerant as I can be this **** is getting to me too

[SupBro]

I lived in the midwest for 8 years for school. Why anyone would willingly leave socal (that already owns a home) is completely crazy as far as I'm concerned.

I do understand those that are looking to buy now and after looking at the current housing prices have chosen to buy elsewhere.

[Electrician4you]

Originally Posted by SupBro

I lived in the midwest for 8 years for school. Why anyone would willingly leave socal (that already owns a home) is completely crazy as far as I'm concerned.

I do understand those that are looking to buy now and after looking at the current housing prices have chosen to buy elsewhere.

I'm actually talking about around retirement time bud. But my wife likes it here and I'm ok with living here. Sometimes it gets to me I freak out howl at the moon foam at the mouth get my rabies shot and Im good for another 4-5 years. I'm pretty sure eventually were just gonna end up buying something else and staying here in the surrounding area. Some of our laws are screwy as hell but I'm not at my F it point. I'm not even sure where to move when I do want to retire. I would like some place close enough to a big city but far enough that in not living like a sardine. I visited a lot of places work and vacation wise. You know everything is cool when you're in vacation mode. But unless you're immersed in it its all a crapshoot. Lol My wife agrees with you. I showed her your response and she said she's gonna dump me and marry you. She likes the way you think.

I'm curious. What do you find so great about this state. You can pm me if you dont want the I hate California and everything about it even though I never lived there crowd joining in.

[russlancea]

Originally Posted by SupBro

I lived in the midwest for 8 years for school. Why anyone would willingly leave socal (that already owns a home) is completely crazy as far as I'm concerned.

I do understand those that are looking to buy now and after looking at the current housing prices have chosen to buy elsewhere.

I am wondering the same thing about my husband. He's making plans already on where he and I will retire. Of course, I'll hit that age much earlier than him, since I am 10 years older! but seriously--he wants to move out of Cali and retire in OR or WA where he can hear the sound of rain year-round . I'm okay with moving out at that time, but I think, wait, we have a house now. We're actually doing fine and should retire well enough here in SoCal.

But then again, he's the one commuting to West LA everyday while I get to browse the web and be on forums as I "work" from home.

[SupBro]

Originally Posted by Electrician4you

I'm actually talking about around retirement time bud. But my wife likes it here and I'm ok with living here. Sometimes it gets to me I freak out howl at the moon foam at the mouth get my rabies shot and Im good for another 4-5 years. I'm pretty sure eventually were just gonna end up buying something else and staying here in the surrounding area. Some of our laws are screwy as hell but I'm not at my F it point. I'm not even sure where to move when I do want to retire. I would like some place close enough to a big city but far enough that in not living like a sardine. I visited a lot of places work and vacation wise. You know everything is cool when you're in vacation mode. But unless you're immersed in it its all a crapshoot. Lol My wife agrees with you. I showed her your response and she said she's gonna dump me and marry you. She likes the way you think.

I'm curious. What do you find so great about this state. You can pm me if you dont want the I hate California and everything about it even though I never lived there crowd joining in.

Here are the things significantly affect my quality of life on a daily basis and why I love living in SoCal:

1) Amazing CHEAP ethnic food. I have never been anywhere else in the world that has such a diverse and vast selection of awesome cheap food. We have LEGIT Mexican, Indian, Japanese, Vietnamese, Chinese, Thai, Peruvian, Middle Eastern, etc. food at super reasonable prices. Good luck getting anything like that other than NYC or Chicago and those will have significantly subpar Asian and Mexican.
2) No snow. Snow sucks. Shoveling snow sucks. Wiping snow off my car sucks. Driving in snow sucks. Slipping and falling on snow sucks. Traffic in snow sucks.
3) Related to the snow but more broad: The weather. It can’t be beat. I know people that wear sandals and shorts year round. Barring Hawaii where else is that possible?
4) Open minded and inclusive culture. The people I know in Socal are very welcoming to meeting new people of all different races, religions, and ethnicities. The people I know are not judgmental and it’s not super segregated and full of cliques like there are in other cities. Now to be fair I did not grow up on the West Side of LA which is a completely different kettle of fish. But the majority of people that I have met are just as down-to-earth, friendly, nonjudgmental, and genuine as anywhere else I’ve been, if not more so. If anything it’s the transplants that are the most obnoxious poseurs and materialistic types.

People talk about the beach, the mountains, the scenery and the other natural features of the area. I’m not an avid surfer who goes 3 times a week in the summer. I don’t go on a weekend back packing trip every month. I do enjoy these activities and go to the beach 2-3 times each summer and try to go on a hike every few months but as far as I’m concerned these things are just a bonus. There are other places in the US that also have amazing natural beauty that are much cheaper. One could go live in Charleston if you want some nice warm beachfront or Denver to be right in the mountains.

[Podo944]

Originally Posted by David Aguilar

Not even close. In Portland, it's more the long time residents, particularly minorities, that are being pushed out of their neighborhoods by hipsters, and/or the hipsters coming in and ruining what were once authentic neighborhoods with their faux hipsterness.

In Denver, it's the poor natives being "forced out", with some even suggesting that we put a "cap" on people moving here, or giving the natives discounts on rent/home prices. Yes, there are people that are that stupid.

I don't think the elevated prices in OC is necessarily a "bad" thing. The market is dictating the rules of engagement, which is the way it should be. If people can't afford to live there, they may not belong there anyway. There's nothing tragic about it.

If there's a will, there's a way. Or, there's Santa Ana.

It's one perspective of hard cold truth, but aside from not "deserving" to live in Orange County, there're emotional tolls as well if one has to move when leaving loved ones behind.

We're renters who have stuck to our "working class" apartment for 8 years. We almost bought when prices were low 5 years ago but didn't (ug that's another story) and have certainly played with the idea of moving out of state. (why I joined C-D in the first place a while back)... However, we've become very close to our granddaughters especially after their parents divorced, we have good friends here, and my husband loves his job which counts a lot! We may not have much, and we wont even try buying at this point, so our extra money is going into retirement savings for now. Who knows what the future will bring.

[SupBro]

Originally Posted by russlancea

I am wondering the same thing about my husband. He's making plans already on where he and I will retire. Of course, I'll hit that age much earlier than him, since I am 10 years older! but seriously--he wants to move out of Cali and retire in OR or WA where he can hear the sound of rain year-round . I'm okay with moving out at that time, but I think, wait, we have a house now. We're actually doing fine and should retire well enough here in SoCal.

But then again, he's the one commuting to West LA everyday while I get to browse the web and be on forums as I "work" from home.

When I was younger my parents always mused about retiring, selling the house, and going to live in an urban area in a condo (S.F. or D.C. were often mentioned). However, my father died and when my mom finally retired she decided to stay right put. All her friends, organizations, and networks are already in place. She is comfortable with the area and likes running into neighbors and friendly faces when she walks her dog to go to the same post office she’s been going to for the past 40 years. Some of her colleagues and friends moved to the bay area or Santa Barbara, but the majority stayed in Pasadena.

It would take a lot of effort to uproot her entire life just to move somewhere else. And what would be the point? Her mortgage is paid off, her property taxes are negligible thanks to Prop 13 and it’s not like she has to drive in rush hour for 2 hours every day.