Millennials simply can't afford to live in OC (Orange: student loan, per square foot)

[CaliRestoration]

Originally Posted by man4857

Why does it matter? All you're going to say is, oops your combined income is too low. Gotta be a CEO sorry!

Is a college educated, dual income household enough?

Not if your combined income is $82,000 a year.

[CaliRestoration]

Originally Posted by Calikitkat

Yes, indeed. Whatever we make is not enough. And I agree with the fact that our Bachelor and Master don't mean anything here. You are either an entrepreneur/business man/sales person or you are nobody.

Exactly. All that matters is dollars.

So you know that your combined income is too low. Why not try lower priced alternatives?

[CaliRestoration]

Originally Posted by ChroNix

Your Bachelors and Masters don't mean anything anywhere. The only thing that matters is your finances. California is not a special state that gives you a purchase price reduction for every degree you have.

Right?

Is there any market in the world where you say "Damn, I don't have a Ferrari, but I have two degrees and me and my wife work, we should own one!"

But for some reason, OC homes are just expected to be in the price range of someone who has a piece of paper and a job. Very confusing logic.

How do you know that investors aren't hard-working people also?

Exactly. People who can put down 100% cash on a home to hopefully get a small margin of profit? Yeah that's not hard work at all, I'm sure making all that cash was so easy.

[Marv101]

Most of OC has been a very desirable place to live for many decades and the overall excellence of the schools has always been a magnet for the nonstop influx of newcomers which has certainly contributed to the nonstop escalation of housing prices, and millennials simply have to accept that fact should they wish to reside there.

Simple as that, folks.

[MLSFan]

Originally Posted by Marv101

Most of OC has been a very desirable place to live for many decades and the overall excellence of the schools has always been a magnet for the nonstop influx of newcomers which has certainly contributed to the nonstop escalation of housing prices, and millennials simply have to accept that fact should they wish to reside there.

Simple as that, folks.

millennials were the ones that were part of the "influx" of kids to those schools, then they grew up and realize they spent 18 years in school and didn't learn how to work a job

[payutenyodagimas]

Originally Posted by ChroNix

Clearly millennials did somehow learn to work a job since they make up 53.5 million members of the U.S. Labor Force as of 2015 Q1 (and growing).

most but some didn't learn that you need to learn/earn more if you want to live in OC

[majoun]

Originally Posted by LuvSouthOC

Actually, I was thinking it through. There may be other constitutional challenges to the tax.

Income tax is not possible since they are not even required to file.

Federally it would be very possible. Washington, DC has a tax of that sort.

In California it could not happen because of Prop 13.

[LuvSouthOC]

Originally Posted by majoun

Federally it would be very possible. Washington, DC has a tax of that sort.

In California it could not happen because of Prop 13.

Well, yes, I was thinking the reverse Commerce Clause challenge to such a state law, among others. I don't have any experience in that field and thus it is just speculation.

There is also the Foreign Investment in Real Property Tax Act.

[LuvSouthOC]

It looks like the job market in OC is quite rosy as compared to the State as a whole and not anemic as Federal numbers erroneously show. The fairly hot job market is an explanation as to why homes continue to rise in price (as do rents) and they continue to sell. This no doubt will add extra pressure on millennials and others looking for entry level housing.

Orange County job growth may be double what we think it is – Orange County Register

[BB_210]

We're getting our keys this weekend. A bit over 2000 sq ft home in Orange. It's an all original home with a lot of space for our hobbies. Being that it's all original it needs a new renovated everything but it's very livable. I know I'm over paying and the market is throwing up red flags but this is our long term home. The future is a bit tumultuous but we have very steady jobs.