Millennials simply can't afford to live in OC (Riverside, Irvine: colleges, fencing)

[Dub D]

Originally Posted by amokk

Average high in Menifee in the August is 98 degrees.


These are the largest employers in Menifee:

# Employer # of Employees
1 Mt. San Jacinto College District 1,068
2 Menifee Union School District 1,040
3 Romoland Elementary School District 597
4 Target Corporation 364
5 Menifee Valley Medical Center 356
6 Stater Brothers 270
7 Southern California Edison 202
8 Texas Roadhouse 167
9 Life Care Center of Menifee 161
10 Lowe's 154

It's 60 miles (1 hour without traffic) from Menifee to Irvine, which is the closest job center.

Average high in Buena Park in the summer is 91 degrees.

These are the largest employers in Buena Park:

# Employer # of employees
1 Knott's Berry Farm 5,071
2 Prologis 800
3 Leach 483
4 Access Business Group 479
5 PepsiCo 477
6 J. C. Penney 382
7 ADP 358
8 Yamaha 342
9 RIA Financial Services 308
10 City of Buena Park 303

Buena Park is 20 miles to Irvine, 21 miles to DTLA, and 21 miles to Long Beach where there are thousands more jobs.




And you're seriously asking why people would live in Buena Park over Menifee? Newer Amenities in Menifee is what, the Olive Garden and Red Lobster? What a joke. Nobody wants to live in Menifee. If you're going to live in the damn desert you may as well move to Phoenix or Vegas where you don't have to deal with California income tax nonsense, ridiculous gas prices, and dysfunctional union pandering government.

Not only all that but not many good jobs in the IE. Hence why everyone commutes to LA, OC, or SD.

I did it for years. 90 minutes each way. Soul draining. And the traffic has only become worse since I left the hellhole known as the Inland Empire.

[aslowdodge]

Originally Posted by Net neutral

I'm beginning to feel the same. I'd ask you, isn't Marietta, GA better than Murietta, CA?

For me I love that I made the move to Georgia. While not as hot as murietta, we do have the humidity which makes it feel hotter. But it’s only for about 4 months. As a native Californian I’m a weather wimp and spoiled, but the weather overall is pretty decent. Fall and spring are like the Bay Area and winter is too except a little colder, but easily tolerable. People out here are very active outdoors, even in the summer heat and humidity, I guess they are used to it.. Marietta is butted up against Atlanta and several other cities and as such as every amenity I had living in the Bay Area, but for less.

I had considered moving back to California, but I would take a hit in lifestyle. My 5200 sq ft house here in a nice neighborhood and close to all amenities cost 460k . A similar house where I lived in California would have been 1.6 million. Property tax I pay 1800 vs 20,000 in California. That alone makes a huge difference in lifestyle. Not only that you can get a house with a walk out daylight basement.mine is set up as a rental with a separate entrance so I ever see the renter. After he pays rent my net mortgage cost is about 400 a month.
In California in law units are tougher to find, the 1.6 million house I looked at didn’t have it and was 1500 sq feet smaller. So the mortgage would be about 6k. The net would be a 4400 month a more payment compared to what I have here, that’s 52,800 a year.
Add mortgage increase and property tax difference from Marietta to California and that is 71,000 per year in my pocket . To me 71,000 per year for 30 years is worth more than the weather difference. That’s a lot of money to me. Others will say it’s not worth it.

Murietta is desert and rather dry and arid. Here it is very green with a ton of trees as we are at the base of the Appalachia’s. It’s very pretty.
I still go back to the Bay Area 3 to 5 weeks a year and visit friends and family. Every time I do I feel less and less inclined to move back. California has changed a lot for me.

[Dub D]

There's nothing "California" about the inland empire. It's hot, conservative, and overall boring. The only thing going for it is being close to fun things. 90 minutes or so from the beach or mountains. But when you need to spend about two hours a day driving for work the last thing you want to do is drive three hours on the weekends.

[waltchan]

Originally Posted by Dub D

There's nothing "California" about the inland empire. It's hot, conservative, and overall boring.

Downtown Riverside is working right hard now to make sure it's not boring anymore, with new constructions going on, and new restaurants/bar/club scenes.

[waltchan]

Originally Posted by Net neutral

But the odd thing is, I think IE real estate is appreciating faster than everywhere else.

Correct... This is the only new home community near downtown Riverside with the fastest appreciation in Inland Empire. It was originally only $319,990 base price back when it first opened in 2015.

https://www.kbhome.com/new-homes-california/riverside

Near UC Riverside is the secret-sauce here. Let's transform it into Irvine-like, is the buzz-talk for investors right now.

[9162]

Originally Posted by RG1981

Reading through this thread and wow...a lot of strong opinions. I personally blame Boomers for most of this. They’re the ones who own the homes and set the wages right now for the most part. They enjoyed the greatest time of affordability and quality of life in the history of America between the 60’s-80’s and then turn around and REFUSE to pass those same benefits on to the next generation.

Boomers are the most greedy and entitled generation this country has ever seen, contrary to popular opinion. They had the perfect combination of affordable housing and good-paying jobs, but once they got established they decided that the next generations didn’t deserve those benefits and that their houses are a worth a million dollars and they won’t raise wages so anyone else can afford to live like they got to.

Granted there are other factors at play here, mostly banks having all their money in real estate now, but still, the greed of the Boomer generation is the main reason millennials and Gen Z can’t get a grip.

Those born in the 1940’s and early 1950’s, the boomers, without a doubt had great advantage over the younger generations. They had the distinct advantage of not only being able to get into top schools, often with ease, but enjoyed considerably cheaper tuition as well. Getting into these schools today are next to impossible, for even some of the most academically qualified applicants. Once graduated, boomers found jobs quite easily as well, particularly since far fewer high school graduates needed a college education to succeed back then. Today, college applicants also must deal with emphasis on diversity, so students of color may have an advantage provided they have the parents that can afford the tuition, or can get the scholarships. The emphasis on diversity has been the catch all, that subliminally colleges and universities used to increase tuition rates out of pace with inflation. The administration knows that attending a top school is a sure way to guarantee U.S. citizenship, and many people overseas are more than willing to pay. Also consider, in the event a baby boomer had fallen on hard times eat back, filing for bankruptcy would eliminate college debt, which was later changed to appease higher education institutions. As a result, it’s often the wealthiest people that can afford to send their children to top schools, and sadly, their kids needed the Ivy League education the least, since they already will inherit wealth, or positions within family owned businesses. Many Fortune 500 companies as well, look forward to hiring foreign students, because they know they’ll work for less money, thus the H1B visa was created, which makes it difficult for American students to compete. These companies know, securing U.S. citizenship is the priority of most foreign students over salary.

Now, consider how cheap boomers were able to buy their first house, many eventually buying several houses. They bought low, and sold high. Even the cars are considerably more expensive for people earning an average salary.

[floppo02]

Originally Posted by 9162

Even the cars are considerably more expensive for people earning an average salary.

I remember this story about how this guy bought a brand-new Corvette in the 60's on a part time job in high school.

[TacoSoup]

Originally Posted by floppo02

I remember this story about how this guy bought a brand-new Corvette in the 60's on a part time job in high school.

Lol. That story is either false, his part time job in HS paid a lot, or he worked that part time job for years and years? Do a google search on the MSRP of Corvettes in the 1960’s and what minimum wage was.

Assuming we’re going off CA minimum wage, buying a brand new base model today vs 1965 would only be about a 20% difference.

[TacoSoup]

Originally Posted by RG1981

My mother also graduated in 1976 and in 1977 she could afford a 1-bed apartment in Boston while working part-time as a waitress and going to college. This is simply impossible today. Absolutely 100% impossible.

She and my father were both hourly workers (he an armored car guard and she a retail store cashier) and they were Boston HOMEOWNERS not long after I was born.

I defy you to make this scenario work in 2021. Your ignorance of how the millennial world looks is just stunning.

This comment caught my attention because after LA and the Bay Area I have more friends, past and present, from Boston. I don’t know what it is with them and San Diego, but it sure has made all my trips there enjoyable meeting strangers?

Anyways, all my friends tell me how “rough” Boston was growing up (Gen X), and how their parents are sitting on nice equity because of how cheap things were throughout the entire area compared to expensive areas like NYC where some of parents were from.

Out of curiosity I did a quick google search right now and the first report that popped up was from Wellesley College about the housing market in the Boston area in 1976. Home prices in the Boston area was 7% above the National average. The Los Angeles area in their report on the other was nearly 30% higher.

http://academics.wellesley.edu/Econo...ayjune1986.pdf

[amokk]

Originally Posted by waltchan

Correct... This is the only new home community near downtown Riverside with the fastest appreciation in Inland Empire. It was originally only $319,990 base price back when it first opened in 2015.

https://www.kbhome.com/new-homes-california/riverside

Near UC Riverside is the secret-sauce here. Let's transform it into Irvine-like, is the buzz-talk for investors right now.

Yeahh... Riverside becoming the next Irvine is not happening.

Riverside population with a bachelor's degree or higher: 22%
Irvine population with a bachelor's degree or higher: 69%

Irvine has A+ schools. That's why wealthy Chinese moved there. Same as Arcadia. San Marino. Rowland Heights. etc. Riverside does not.