Inglewood, Compton, Bell Gardens BIZATCH! Living the high life up in that gangster bitch @ 50k! LOL @ 50k. Minimum wage in LA should be $30/hr.
Beautiful solution- don't live well- live like a child all one's life (never owning any property, paying other people's mortgages) or become a third-worlder living 15 deep to a house and then complain... that you live in the third world! Great "solution".
Crawl out of your one-bedroom roach infested hovel you're paying someone else's mortgage to live in, for once stop choking on your own bullshit and get some facts.
http://maps.latimes.com/neighborhoods/income/median/neighborhood/list/
Take a look at where your great 50k neighborhoods are! Of course, as stated, you don't live here or know a damn thing about the city,, so of course you'll just spin and ignore everything from those that actually do. It's amazing people like you: so full of shit you'll argue about a place you don't even live or know anything about. Then again- you fit right in in a McOwned thread!
Inglewood, Compton, Bell Gardens BIZATCH! Living the high life up in that gangster bitch @ 50k! LOL @ 50k. Minimum wage in LA should be $30/hr.
No way according to the resident Liars, Losers and Cowards.
Beautiful solution- don't live well- live like a child all one's life (never owning any property, paying other people's mortgages) or become a third-worlder living 15 deep to a house and then complain... that you live in the third world! Great "solution".
Crawl out of your one-bedroom roach infested hovel you're paying someone else's mortgage to live in, for once stop choking on your own bullshit and get some facts.
http://maps.latimes.com/neighborhoods/income/median/neighborhood/list/
Take a look at where your great 50k neighborhoods are! Of course, as stated, you don't live here or know a damn thing about the city,, so of course you'll just spin and ignore everything from those that actually do. It's amazing people like you: so full of shit you'll argue about a place you don't even live or know anything about. Then again- you fit right in in a McOwned thread!
must be nice. All i know is, if you want an average house, you spend $500k. If you want to live in the ghetto, you spend $275k. If you want something actually decent in a neighborhood where your kids can grow up, that's about $750k, maybe a little over $800k if you want a small front yard, about large enough to fit 2 cars on (not that you'd park them there, but that's how big it will be).
So, your mortgage will be something like 6 grand a month. Most people have household incomes of at least 100k, which is kind of pushing it around here. Really, if you want your kids to go to a decent school, you need to be pulling a household income of about 150k to really get by around here.
Are you talking about homes that are like, somewhere near civilization? Yes, 500k is an average price for a house. $190k is not a house price. That's an expensive car. Who the fuck buys a house for $190k? Is that shit even possible? Where the hell do you live? Iraq?
No way according to the resident Liars, Losers and Cowards.
Rage some more, you clown. Median income means that literally half the city makes that amount or less. (And really it means lots more people earn just slightly more) In fact, the whole point of using median vs. average is to prevent outliers from dragging the number too far off the mark. Talk all you want about good and bad neighborhoods, that means they comprise at least half the people living in the city you claim to know so well.
I lived in Southern California for almost ten years. I've been to LA many many times and have many friends who live there. It's not my fault you don't know what you're talking about in your own city, lol. Oh and not that it's relevant, but had you even bothered to read the thread you would know that I own my place.
Pointing out how you and moonbogg are clueless as to mortgage and property values is totally off topic to this thread, so I'll let you have the last word, which is sure to be amusingly filled with sputtering rage. Lol.
All you guys need to calm down.
1. Most poor people can't afford to buy so they rent.
2. Some renters are covered by rent control so they pay below-market rent.
3. Many people bought their homes well before the run-up in prices over the last several years, and pay a lot less in property taxes thanks to Prop 13, than someone buying today.
4. Median household income doesn't mean median family income. It means household, which can be as few as one person. The single guy living in a 1 bedroom apartment counts as household, for instance. If you want to know the median FAMILY income, that's usually much higher.
5. Median household income 2 years ago in L.A. County was $55,909, so by 2015 it's probably over $60k. http://quickfacts.census.gov/qfd/states/06/06037.html
6. Housing prices can be inflated by investors, such as flippers, or increasingly, rich Chinese investors looking for a safe place to park money.. the Chinese real estate bubble is massive right now and makes US real estate look cheap by comparison even though US real estate might or might not be in a bubble right now, too. Look at the number of all-cash offers as one metric of this. It's not just residential real estate, either, they are buying up entire strip malls and apartment buildings and office buildings, too.
7. What's affordable is up for debate. Many people who buy homes are stretching the definition of affordable. The traditional definition meant 20% down and your disposable income should be enough to comfortably pay off the mortgage, taxes, insurance, and pay for home repairs. These days there are people who pay a lot less than 20% down and stretch themselves thin. Believe it or not, the subprime market is back even though it burst just 7 years ago. Why not since the Too Big to Fail banks know Uncle Sam has got their backs and nothing has really changed since the bailout? The incentives are still a mess.
Given the complexity of the above, median household income is nowhere near enough information to go on. I would agree that $60k household is a pittance if you're looking to own a decent house anywhere with an above average school district within a reasonable drive of downtown LA.
All you guys have some kernels of truth in what you say but so does the other side. The truth is often complicated.
I think you need to go back and read the preceding posts more carefully.
This all started when moonbogg said that saving $100 a month (due to lower gas prices) was basically nothing. I did a quick breakdown on what a family making the US median income makes, and $100 means quite a bit in terms of disposable income.
He then replied that my assumption that the average person would pay about $1,100 a month in mortgage costs was way to low, that $3,000 a month was more normal, blah blah blah.
As it relates to the actual point:
1. It wasn't about costs in a particular location, but nationwide.
2. Even considering LA, none of my posts talked about buying a home on the median salary there.
3. My original post actually said rent/mortgage, so mentioning that lots of people rent doesn't really matter.
4. We don't want to use median family income because that presupposes a multi-person household, which overestimates things.
Not only is median income enough to go on, it's by far the clearest and most concise measure when you're talking about what a $100 savings means to the average American in a nationwide sample.
Regardless of how this digression started, it veered to L.A. real estate and you responded and touted your experience with L.A. and responded to a post about L.A. real estate.
My point about median HH income is that many people see "household" and think of families. They don't realize that it means single people as well.
Also I left out 8. in my list above, which is wealth vs income. A lot of money is inherited, or at least mom and dad help out with the down payment or something. So that is also another reason why relying solely on median household income is problematic re: real estate prices.
If we step away from the complicated real estate market, median HH income is fine to use when talking about gasoline savings. But median HH income is being used here by some people who think it means more than it does when it comes to the real estate market.
Did meghan54 get his $100 yet?
I didn't see him here.
Are you coming?
Course not because you're just as much of a Liar, Loser and Cowardly Pussy.
Dave, don't you ever get tired of being an idiot?
You're here every step of the way so you must enjoy being an idiot.
U.S. crude drops below $44 as inventory builds scare market
U.S. crude oil fell below $44 a barrel for the first time since April 2009 on Thursday while benchmark Brent sharply pared early gains after data showing additions to already record-high U.S. oil inventorie
My favorite thing is to ask him what price of gasoline would make him happy. It's bizarre.
He seems mad when it's high and mad when it's low.
I didn't see him here.
Are you coming?
Course not because you're just as much of a Liar, Loser and Cowardly Pussy.
Why would I go to another state to prove somebody online as wrong when the information is already online and literally everyone else in the thread already knows the person is lying? Hunting trolls is fun but it can only go so far.
I didn't see him here.
Are you coming?
Course not because you're just as much of a Liar, Loser and Cowardly Pussy.