Millennials simply can't afford to live in OC (Los Angeles, San Diego: safe, move to)

[expatCA]

Originally Posted by FirebirdCamaro1220

Quite true, Phoenix's density overall is 3,000 ppsm, but over 1/3 of the city is uninhabitable due to being mountains which are also parkland, so the useable area of the city is only 350 sq miles, which makes our effective density about 4,200 ppsm, and between McDowell and Bell Rd's (minus mountains) the effective density is almost 6,000 ppsm

And density is not a good thing at all. It leads to far more problems than a lesser density.

When OC had less than 1 million people it was a great place to live and drive to work and drive to shopping and find parking at the beach and stores and .... well it has gotten worse with... density.

[FirebirdCamaro1220]

Originally Posted by expatCA

And density is not a good thing at all. It leads to far more problems than a lesser density.

When OC had less than 1 million people it was a great place to live and drive to work and drive to shopping and find parking at the beach and stores and .... well it has gotten worse with... density.

Low density is not good, because it makes car ownership necessary. If New York City or London were low density, they wouldn't be the two powerhouses of the world that they are

[expatCA]

Originally Posted by Wutwutwutwut

Welcome to life, old man. The world changes. And what you state is simply your opinion, not a fact. I personally like OC better than when it was lima beans and orange fields. If you want it to be what you remember it as, I suggest you invent a time machine.

I agree that the only constant in life is change. How about intelligent planning for density that helps avoid some of the issues that people now face. Now that would be hard in OC now, but real planning could help it. Since it is now what it was, it is less appealing to me though it is still my favorite place; the major reason I am not moving back is air quality. My wife hates the crowding and traffic.

[LuvSouthOC]

I found the below linked to by someone in the San Diego forum. Notice the low level of millennial buyers in OC.

https://howmuch.net/articles/millenn...p-large-cities


How Many Hours Americans Need to Work to Pay Their Mortgage

[expatCA]

Originally Posted by LuvSouthOC

I found the below linked to by someone in the San Diego forum. Notice the low level of millennial buyers in OC.

https://howmuch.net/articles/millenn...p-large-cities


How Many Hours Americans Need to Work to Pay Their Mortgage

wanting to live somewhere and being able to afford it are two different things and ... more housing will not make housing any more affordable.

[payutenyodagimas]

Compton is hot right now. its on LA Times and CBS. its the new gold rush

[FirebirdCamaro1220]

Originally Posted by herdoggo

This might be why Millennials can't afford OC. No citations available, but most of it seems fairly straight forward and logically sound.




• Millennials have had to take on 300% more student loan debt than their parents

• Millennials are 1/2 as likely to own a home as young adults were in 1975

• 1 in 5 Millennials lives in poverty

• Millennials are unlikely to retire until they’re at least 75 based on current trends

• Millennials that got hammered during the 2008 are in really bad shape – 50% of college graduates in 2007 had jobs lined up. The class of 2009 – only 20% of them did. Even 10 years later the loss of income during the recession persistently lasts at depressing incomes for decades.

• Most of the job growth in America is for low-wage, low-skilled, temporary and short-term jobs. The US doesn’t produce the same jobs like what boomers were lucky to have.

• Boomers worked their way through college eh? A boomer only needed to work 306 hours of minimum wage work to pay for a 4 year public college degree. Millennials, OTOH, would have to work 4,459 hours to do the same.

• 1/3 of workers now need obscure and extremely specialized licenses or training. In 1950 that number was only at 5%. In order to obtain some of those licenses it can cost upwards of $20,000 and 2100 hours of instruction + unpaid practice.

• In the 1970s the Boomers only had about a 24% chance of falling into poverty. In the 90s this jumped to 37%. The poverty rate for young workers has tripled from 1979 to 2014

• Boomers enjoy an average of a 6.3% return on their 401k plans while Millennials enjoy a measly 2.9% return

• In the 80s 4 out of 5 Boomers enjoyed jobs that provided health care for their employees. Now only 1 out of 2 employers provide this same benefit. 26 to 34 year old Millennials have the highest uninsured rates in the country and collectively have even more medical debt combined than the Boomers.

• Boomers only had to pay into Social Security when there were 17 American workers paying into SS for every one retiree. Millennials are going to get totally screwed and will have to pay for Boomers’ SS benefits when there are only 2 of us per Boomer retiree.

• Millennials can’t afford homes like Boomers could at their age. More people are being forced to rent than any time since the 1960s. Rents have increased at more than 2x the rate of incomes over the last 40 years. The number of households that have to spend more than 50% of their income on rent has increased over 50% between 2001 and 2014.

• In 1973 in Seattle, for example, a median house cost $124,000 in today’s dollars. Now housing costs $730,000.

• The only ‘good’, secure, non-temp jobs with a decent salary are increasingly being concentrated in cities. America’s largest 100 metro areas have added 6,000,000 jobs since 2008. Rural areas, however, now have fewer jobs than they did in 2007.

• Housing in the areas where these ‘good’ jobs exist is increasingly unaffordable because Boomers block all new construction for housing by using zoning laws. Boomer NIMBYs, for example, often require a single unit of housing to have 2 spaces for parking, making it much more expensive, cumbersome and complex to build housing that will alleviate astronomical housing/rent prices. The only way developers can make profits these days is if they build luxury units that are way too expensive.

• 56% of Millennials with student loan debt have had to delay major life events such as getting married, having kids or trying to buy a home because of their debt for education

Awesome post, repped 👍

[expatCA]

Originally Posted by herdoggo

This might be why Millennials can't afford OC. No citations available, but most of it seems fairly straight forward and logically sound.




• Millennials have had to take on 300% more student loan debt than their parents

• Millennials are 1/2 as likely to own a home as young adults were in 1975

• 1 in 5 Millennials lives in poverty

• Millennials are unlikely to retire until they’re at least 75 based on current trends

• Millennials that got hammered during the 2008 are in really bad shape – 50% of college graduates in 2007 had jobs lined up. The class of 2009 – only 20% of them did. Even 10 years later the loss of income during the recession persistently lasts at depressing incomes for decades.

• Most of the job growth in America is for low-wage, low-skilled, temporary and short-term jobs. The US doesn’t produce the same jobs like what boomers were lucky to have.

• Boomers worked their way through college eh? A boomer only needed to work 306 hours of minimum wage work to pay for a 4 year public college degree. Millennials, OTOH, would have to work 4,459 hours to do the same.

• 1/3 of workers now need obscure and extremely specialized licenses or training. In 1950 that number was only at 5%. In order to obtain some of those licenses it can cost upwards of $20,000 and 2100 hours of instruction + unpaid practice.

• In the 1970s the Boomers only had about a 24% chance of falling into poverty. In the 90s this jumped to 37%. The poverty rate for young workers has tripled from 1979 to 2014

• Boomers enjoy an average of a 6.3% return on their 401k plans while Millennials enjoy a measly 2.9% return

• In the 80s 4 out of 5 Boomers enjoyed jobs that provided health care for their employees. Now only 1 out of 2 employers provide this same benefit. 26 to 34 year old Millennials have the highest uninsured rates in the country and collectively have even more medical debt combined than the Boomers.

• Boomers only had to pay into Social Security when there were 17 American workers paying into SS for every one retiree. Millennials are going to get totally screwed and will have to pay for Boomers’ SS benefits when there are only 2 of us per Boomer retiree.

• Millennials can’t afford homes like Boomers could at their age. More people are being forced to rent than any time since the 1960s. Rents have increased at more than 2x the rate of incomes over the last 40 years. The number of households that have to spend more than 50% of their income on rent has increased over 50% between 2001 and 2014.

• In 1973 in Seattle, for example, a median house cost $124,000 in today’s dollars. Now housing costs $730,000.

• The only ‘good’, secure, non-temp jobs with a decent salary are increasingly being concentrated in cities. America’s largest 100 metro areas have added 6,000,000 jobs since 2008. Rural areas, however, now have fewer jobs than they did in 2007.

• Housing in the areas where these ‘good’ jobs exist is increasingly unaffordable because Boomers block all new construction for housing by using zoning laws. Boomer NIMBYs, for example, often require a single unit of housing to have 2 spaces for parking, making it much more expensive, cumbersome and complex to build housing that will alleviate astronomical housing/rent prices. The only way developers can make profits these days is if they build luxury units that are way too expensive.

• 56% of Millennials with student loan debt have had to delay major life events such as getting married, having kids or trying to buy a home because of their debt for education

And there is no way to change this.

[LuvSouthOC]

• Boomers enjoy an average of a 6.3% return on their 401k plans while Millennials enjoy a measly 2.9% return

[pacific2]

Banks and realtors are hopeful that Hispanic millennials will keep both the OC and national home buying markets active:

Hispennials? Hispanic+Millennials called the future of home buying
https://www.ocregister.com/2017/12/22/hispennials-hispanicmillennials-called-the-future-of-home-buying/