Millennials simply can't afford to live in OC (Los Angeles, Sacramento: homebuyer, construction)

[LuvSouthOC]

Originally Posted by CaliRestoration

The big problem is millennials are taught or indoctrinated to believe that Socialism is "better" for society, when in reality it's simply state sponsored theft that killed over 100 million people in the 20th century alone.

They say ignorant things like "A $15 minimum wage will help eliminate poverty". Then you ask them to continue their idea and ask "Why not just make the minimum wage $100 an hour and eliminate poverty altogether?" It's fun watching their heads short circuit.

If kids were taught that for them to eat, they have to work, the world would be a better place.

I was very much a socialist when I was very young too. Isn't it normal?

[Finper]

Originally Posted by Asneeze

If you move to AZ it is unlikely you will ever be able to afford California again. Selling real estate in CA to move out of state is a terrible investment. You would be much better off renting it and just buying something cheap in cheapoland, AZ. You in 30 years will thank me.

I'm Leary of renting to strangers. I might rent to family if anybody is interested. Still contemplating the pros and cons. I have a liberal elderly parent who won't move to red Az (eye roll) so I'm stuck here for the unforceable future

[CA4Now]

Originally Posted by Electrician4you

I don't get why people are so upset about cost of things here. It's not like it's a "Surprise surprise surprise California is expensive. We kept it a secret till you got here. Isn't that funny? "

Post of the day!

[man4857]

Originally Posted by Asneeze

If you move to AZ it is unlikely you will ever be able to afford California again. Selling real estate in CA to move out of state is a terrible investment. You would be much better off renting it and just buying something cheap in cheapoland, AZ. You in 30 years will thank me.

I never understood this argument. What makes you think you're able to afford living in CA in the first place? Ability to "afford" something that eats up a majority of your income is just a simple number crunching regardless of where you are. The recommended proportion is approximately somewhere between 25-33% of your take-home pay. Except, most in CA are paying more than that recommended proportion.

Just because you're physically there doesn't mean you can afford to be there. Quite a thought I know.

[CaliRestoration]

Originally Posted by LuvSouthOC

I was very much a socialist when I was very young too. Isn't it normal?

Yes, it is normal for younger minds to embrace socialist ideas. It's also normal for younger minds to throw tantrums when they don't get what they want, or make up fantasies and play make believe.

BUT eventually people are forced to grow up and face reality that we are all responsible for our own roofs, and our own meals, and someone has to pay for it. Forcing others to pay your way is what children are used to, and in a normal society they should grow out of it.

[CaliRestoration]

Originally Posted by expatCA

To late.

Not for my kids.

My child is already invested into 4 dividend paying funds, some large cap picks, started with MY seed money of $500, and his portfolio is now closing in on $1800 (with a little help from pops). Not bad for a kid.

[expatCA]

Originally Posted by CaliRestoration

Not for my kids.

My child is already invested into 4 dividend paying funds, some large cap picks, started with MY seed money of $500, and his portfolio is now closing in on $1800 (with a little help from pops). Not bad for a kid.

Aah, you are teaching them the right way but................. most parents don't and most "children" do not learn when no one else teaches them that, rather to sponge off everyone else. Many of us, and I include myself, had to learn and make our own way. Fortunately I grew up in the 60's and while many interesting things were happening then, I learned to work and save and be smart.

[CLT4]

I'm a millennial. I didn't expect anybody to do anything for me and am not a socialist. I moved out of OC though and took the $20,000 I had saved to move and eventually buy a house out of state. Probably would not have happened until I was 40 in OC and it certainly would not have been as nice a neighborhood to be raising my young kids.

It was a tough decision... spend $1,400 a month on rent and have little left over to save for a down payment someday (let alone saving for grad school, kids' college, etc...) or move out of state. It sucks to leave parents behind, but it had to be done for my personal financial situation and the well being of the kids we were planning to have at the time. It turned out to be a blessing though because even if I work my way up to making $250k per year someday, I'm not moving back to OC. We found a home and a community we love. The obsession with money and real estate prices is a huge turn off every time I'm back.

[CaliRestoration]

Originally Posted by CLT4

I'm a millennial. I didn't expect anybody to do anything for me and am not a socialist. I moved out of OC though and took the $20,000 I had saved to move and eventually buy a house out of state. Probably would not have happened until I was 40 in OC and it certainly would not have been as nice a neighborhood to be raising my young kids.

It was a tough decision... spend $1,400 a month on rent and have little left over to save for a down payment someday (let alone saving for grad school, kids' college, etc...) or move out of state. It sucks to leave parents behind, but it had to be done for my personal financial situation and the well being of the kids we were planning to have at the time. It turned out to be a blessing though because even if I work my way up to making $250k per year someday, I'm not moving back to OC. We found a home and a community we love. The obsession with money and real estate prices is a huge turn off every time I'm back.

I suggest every young man do this. Pull up stakes, leave home, and make your own way. Women, if you find a man like this, they will be much more emotionally mature, responsible, and in general, better husbands.

[CLT4]

Originally Posted by CaliRestoration

I suggest every young man do this. Pull up stakes, leave home, and make your own way. Women, if you find a man like this, they will be much more emotionally mature, responsible, and in general, better husbands.

It worked out for me - relocating isn't for everybody depending on their family situation and it is hard to see how much more blessed my peers are here than back in OC. They might live an hour from their hometown and can see family more easy. Almost all of my peers here own there own home or rent a nice apartment here while they save to buy a home. I know one person here that still lives at home under 25 years old compared to at least 20 in California still living at home at 30 years old. They aren't up to their eyes in debt here and aren't completely stressed out about their financial future. In fact, there is this bizarre set of optimism that they will be financially secure.

When I'm back in OC meeting with old friends, 90% of the conversation becomes about how expensive rent is, they will never own a home, they don't make enough money to save, they still live with their parents, the traffic just gets worse, they need to meet a guy/girl with a high paying job so dual incomes help them buy a home, all the schools are bad and the good ones have expensive homes, they don't know how they can afford kids, have no money left to save for their kids college, etc... and I'm ready to get back on the airplane and leave.