OC housing hits record high:655k

[expatCA]

Originally Posted by snalax

Keep in mind that property taxes on a home pruchased in CA will be much lower than a house in FL 10+ years from now due to prop 13.

FL has a similar situation with property taxes. They generally only rise beyond a couple of percent at sale. The County we are looking at has high property taxes (for FL) but still it would be about the same for a similar sized and year house.

I should be retired by then, so my income will stabilize (Not grow as much as it is now). My main concern re CA right now is State taxes and the continued rise in taxes and fees due to the Gov't not being very bright for years. I was born and raised in SoCal and it used to be better run.

[CaliRestoration]

Originally Posted by snalax

I would take any Redfin or Zillow estimates with a gigantic grain of salt.

Zillow estimates are not that far off when there is a lot of sales activity in an area.

[expatCA]

Originally Posted by snalax

Could be worse. You could live in the United States. I heard it's run by a complete idiot.

Nope, she wasn't elected.

[pacific2]

Lansner, of the OC Register, wonders if rapidly rising rents may convince some people to finally buy. Of course, most renters probably can't, but there are those who can afford to purchase, and are either waiting for the market to drop, or have other reasons for not taking the home ownership plunge.

He said that a combination of new buyers, plus the opening of new apartment developments now under construction, could slow the rate of rent increases by lessening demand.

BTW, rents are going up nationwide, not just in SoCal. The rate of increase is just higher here, mostly fueled by a lot of new hiring.

Southern California rent rise fastest in 9 years - The Orange County Register

[BB_210]

Is the market going to drop? Trump is the wild card keeping us from pushing the purchase button.

[pacific2]

Originally Posted by max210

Is the market going to drop? Trump is the wild card keeping us from pushing the purchase button.

I doubt that anyone knows at this point in time.

Originally Posted by pacific2

Another fat year for real estate? Six housing market predictions for 2017 - The Orange County Register

“The issue here isn’t the trends. The trends are positive,” said Christopher Thornberg, a former UCLA professor and founding partner of Beacon Economics. “On the other hand, you’ve got this new administration coming in, and we’re not sure (what policies) they’re going to pursue.”

Tax cuts and increased infrastructure spending would stimulate economic growth, Thornberg said. That’s good for housing.

But a trade war with China and an ideological confrontation with California “could really hurt our economy, and all bets are off,” he said.

[Electrician4you]

Originally Posted by max210

Is the market going to drop? Trump is the wild card keeping us from pushing the purchase button.

Then you're going to die before you get a house. Lots of people kept waiting for prices to drop back in 09/12. The prices staretdcgoing up and the fence sitters were priced out. I have lived through three big market "crashes" and each time the houses we owned eventually went back up in price and then went higher. And higher and higher.......

[expatCA]

Originally Posted by max210

Is the market going to drop? Trump is the wild card keeping us from pushing the purchase button.

The upcoming CA elections and State debt and tax and spend predilection of the State, is what has kept me from definitely deciding to move. It will either be CA nor FL by the beach in either case.

[pacific2]

Buyer beware before contemplating a move to Orange County:
You have to earn $146,880 a year to buy a median-priced home in Orange County - The Orange County Register