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Old 10-18-2016, 09:59 PM
 
Location: Liberal Coast
4,281 posts, read 6,059,318 times
Reputation: 3924

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Quote:
Originally Posted by LuvSouthOC View Post
Good points. I think; however, people need to realize that places like coastal SoCal are highly competitive and people are willing to sacrifice (or are forced to get money from a source other than income, e.g. parents, etc.).
People do realize that. What you're seeing is millennials pushing back at constantly being denigrated. We're all lazy, ungrateful, entitled brats to some people for thinking that a person who is well educated and has a very good job should have to rent a room, drive a beater, and basically have no life. My husband and I happen to live extremely cheaply after leaving CA (by choice), but that doesn't make us less ungrateful than those who don't. We don't have college degrees and work hard for what we have, but we don't look to others who went to college as lazy.

If enough millennials leave the area, it is in for a world of hurt eventually. The region will have a hard time sustaining itself with only older people.
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Old 10-18-2016, 10:03 PM
 
Location: 89434
6,658 posts, read 4,715,452 times
Reputation: 4833
Quote:
Originally Posted by expatCA View Post
This is the new norm on the coast and will not change. It isn't just OC either, but every popular location.
Not just in OC but it's more of a nationwide problem. Millenials can only get McWage jobs and can't afford anything.
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Old 10-18-2016, 11:03 PM
 
6,327 posts, read 3,568,534 times
Reputation: 4318
Quote:
Originally Posted by CaliRestoration View Post
You could save money. With an $80k salary, there's no reason you can't save $25,000 a year. On a $500,000 condo, you could save the down payment in 4 years.

Why can't you save money?
I'm guessing you missed this:
Quote:
Originally Posted by man4857 View Post
decent house in the OC is approaching on AVERAGE, $650K, or am I not educated enough...

And this:
Quote:
Originally Posted by man4857 View Post
(following the rule of thumb 3x your annual salary), or else you'll be house poor and stuck with a mortgage until I die like everyone else.
Your example assumes OP is looking for a $500,000 condo.

Also, even with the saved down payment, that's still 5 times the OP's annual salary, not 3x. Still house poor.
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Old 10-19-2016, 01:16 AM
 
Location: Leaving Phoenix and Snobsdale
218 posts, read 348,023 times
Reputation: 107
Quote:
Originally Posted by CaliRestoration View Post
No it wouldn't. There are plenty of people who live in OC perfectly fine on 80k.
Or even $40,000. The quality of life in the oc and the nicer personalities, more laid back people, makes it worth the extra cost. Plus, jobs are unionized and pay more. And you don't have the annoying trust funders in Snobsdale. You also don't have nearly the drug problem as Phoenix and Scottsdale.
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Old 10-19-2016, 01:22 AM
 
Location: Leaving Phoenix and Snobsdale
218 posts, read 348,023 times
Reputation: 107
Quote:
Originally Posted by snatale1 View Post
Yes, it SHOULD be but it's not by design. Liberal states don't WANT people that work for a living to be there. They want the 1%, and the poor. The middle class including the upper middle is an inconvenience to them.
Absolutely correct.

Same is true of metropolitan Phoenix. It is run by the Democrat party with a 33 billion light rail project. Area restricts growth so there are not enough grocery stores or walmarts in many areas. Streets are not maintained. Crime is escalating rapidly.

Also the medical care in Phoenix is for the rich since many docs refuse to take Medicare including the Mayo Clinic of Minnesota who has a branch here. So much for the Minnesota nice in Phoenix.

Orange County from my research and when I visited is worth the premium. I don't know about LA.

Last edited by Arizona89A; 10-19-2016 at 01:32 AM..
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Old 10-19-2016, 02:56 AM
 
Location: Phoenix
3,212 posts, read 2,219,961 times
Reputation: 2607
I have news from a Baby Boomer, OC has been expensive my entire adult life, this is not new. Best now to sit and wait out the next time the bubble pops to buy something cheaper...otherwise, bring gold and silver.
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Old 10-19-2016, 03:08 AM
 
Location: Leaving Phoenix and Snobsdale
218 posts, read 348,023 times
Reputation: 107
Quote:
Originally Posted by American Expat View Post
I have news from a Baby Boomer, OC has been expensive my entire adult life, this is not new. Best now to sit and wait out the next time the bubble pops to buy something cheaper...otherwise, bring gold and silver.
I think from orange county down to LA Jolla is a great place for a young person such as myself, from a declining Democrat run slum such as Phoenix, to move to and be among other goal oriented young people, and go back to college. I'm not concerned about buying just yet, but I do agree that California will have another housing crash, it has had several since the 1980s if you read the book chapter on California in the book Regulatory Takings, by Dartmouth professor of land economics William Fischel.

I understand that folks move from Orange County to Gilbert, AZ. Well I live in Deer Valley, AZ, and in both of these places, you absolutely must have been trained in a profession, otherwise you're working at Circle K gas stations. So that training and mentoring is in Cali, it is NOT over here. ASU is full of parties and Tempe is in the nations top 6 most dangerous college towns. LA Jolla and Irvine are safe.
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Old 10-19-2016, 03:33 AM
 
Location: Orange County, CA to San Antonio, TX
173 posts, read 287,835 times
Reputation: 276
Quote:
Originally Posted by Arizona89A View Post
Or even $40,000. The quality of life in the oc and the nicer personalities, more laid back people, makes it worth the extra cost. Plus, jobs are unionized and pay more. And you don't have the annoying trust funders in Snobsdale. You also don't have nearly the drug problem as Phoenix and Scottsdale.

Nicer personalities and more laid back people? Are you talking about the same Orange County everyone else is on this thread?
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Old 10-19-2016, 05:59 AM
 
Location: Riverside Ca
22,146 posts, read 33,209,527 times
Reputation: 35433
OC has been expensive since I moved here. Housing was ALWAYS expensive. Your pay still went only so far. Ok maybe in the 60/70s you could still buy a house on a normal blue collar job. But that started changing in the late 70s/early 80s.
I had a friend who moved out of OC in the early 70s I think 70/71. Sold for 24k. Two years later his house was resold for 75k. Now it's worth about 540k.

So can you buy a SFR today in a OC on a 80k salary. NO YOU CANT. Stop with work hard you can do it bs. It's just not happening unless you got some huge down. Mathematically even if you have SERO debt it's not happening. IF both wife and husband hit 120/149k a year they can buy such house. But on 80k alone no. House prices have gotten out of control since the early '00s. With a drop in 08/12 (when YOU should of bought if you were looking) Let me put it to you this way. It would be a financial undertaking for me and I make more than 80k a year in income. You couldn't get me your buy a 650,000 dollar crap shack in OC today. I moved out of OC and I have no problem with that.

OC is pumped up from investors, shortage of housing, low interest rates alllowing people to borrow more and bid up, and demand.

Can you buy a condo or townhouse on 80k a year. Yes if the price is in the mid 400s (and yes there are places for those prices as long as you understand it's not going to be in the holy grail called Irvine) and you have little to no debt you can get a townhouse or condo. It may still be a struggle, and you better have a good down.

The problem I see with a some millennials, but people in general, they want it all right now. It took us years of toiling to get where we are today. It didn't happen overnight.


Can you LIVE in OC on 80k a year? Yeah you can. You just rent and you can't go Wild in debt.
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Old 10-19-2016, 09:25 AM
 
5,381 posts, read 8,632,584 times
Reputation: 4550
There are plenty of nice places to live all over the country, and OC is just one of them. Still, if I were a millennial making 80K, I would not move here unless I had reasonable expectations for that income to steadily increase.

The other reason would be for professional training, or to take advantage of a good opportunity at a company, knowing that I could later transfer to a lower COL place if my salary did not go up.

That having been said, some millennials are still moving here,at least for now. They are flocking into Aliso Viejo, and single millennials are the largest group of new arrivals to AV. Things are not totally gloomy.

OC is also a good place to be a young entrepreneur.
Aliso Viejo is a hotbed of entrepreneurship among Southern California cities, study finds - The Orange County Register

There is an AV MeetUp for techies:

Tech Coast Angels
https://www.meetup.com/techcoastangels/

However, most young people who move to OC will likely need to make a mental shift in terms of housing. A single family residence will probably be unattainable. Still, condos/townhouses are within reach.

Here’s a sample of under $400K places, all in very safe neighborhoods:
https://www.redfin.com/CA/Rancho-Santa-Margarita/45-Gaviota-92688/unit-149/home/5312948
https://www.redfin.com/CA/Aliso-Viej...6/home/5610903
https://www.redfin.com/CA/Mission-Vi...4/home/5665037
https://www.redfin.com/CA/Aliso-Viej...6/home/5611637
https://www.redfin.com/CA/Laguna-Nig...4/home/5578691

Last edited by pacific2; 10-19-2016 at 10:04 AM..
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