If you don't buy now, you'll never be able to afford it, dude. Time to leverage yourself up, 100% of assets into housing, HOUSING NEVER GOES DOWN!!!!!
That's way too far from the beach.Echo Park, aka Hipster Park. Median Home Price > 800k, still climbing each month. Where's the ceiling NOBODY KNOWS.
That's way too far from the beach.
Yup, and chinese capital is never going to stop flowing into west coast real estate!
It's probs a bad idea to buy a house anywhere on the west coast, right now. The chinese economy is on the verge of a pretty big fall, and capital flight from china has been a big driver of crazy real estate prices on the pacific coast.
I can't wait for California to implode.
God bless Texas.
A cardboard box house will cost you next to nothing. Heavy winds, rain and the cold might be an issue though.
Lol, true.Location, location location!!!
Tijuana... LOL Okay, that was bad.
People have been saying this or something similar about West Coast property for at least 3 decades.
True, and the market has crashed a few times in that period but it has always recovered. I understand the appeal of living in SF/LA/SD, they're beautiful cities with tons of activities and great weather, but the thought of being house poor for 15-30 years just makes me cringe. I paid less than $200K (albeit two decades ago) for my 3000sf, 1.5ac lakefront property and after refinancing when rates started getting so low, it will be paid off in less than two years (just in time to start paying for kids' college - joy!).
I can get this near me for 750k.
http://m.reecenichols.com/Mobile/Li...=0c152869-3aa6-4c00-863e-87ac5d9a0e49&first=1
many people who can afford expensive houses aren't house poor.
what you paid for your house is because it's in a location where nobody really wants to live and there probably aren't many jobs. that is nothing new and has always been that way. trying to compare prices across different regions is just dumb.
many people who can afford expensive houses aren't house poor.
what you paid for your house is because it's in a location where nobody really wants to live and there probably aren't many jobs. that is nothing new and has always been that way. trying to compare prices across different regions is just dumb.
$935K gets you this in TN, and the benefit of being my neighbor
http://www.zillow.com/homedetails/00-Undisclosed-Address-Unicoi-TN-37692/2099211798_zpid/
If you came over to regale me with tales of adventure once or twice a month, it'd be well worth it.
Some aren't house poor, but many are. If you're spending half your income on housing, you're probably house poor even if your income is higher than other parts of the country. It's damn near impossible for a 10%-er to have a nice house in a nice area on a single income. If you're making $150K/yr, a third goes to taxes and 40-50% of the remaining goes to the bank? No thanks.
And of course comparing across regions is dumb, that wasn't the point. People do want to live here, that's why the value of my house has almost quadrupled in those 20 years, but it's certainly not the market of SoCal. Frankly I wouldn't buy my house at what it's worth now but I have no incentive to move and that's really how I feel about the SoCal housing market.
According to Zillows July Real Estate Market Reports, households earning less than $60,000 are spending half their income on keeping a roof over their head, just as housing prices are expected to rise nearly 6 percent into 2015.
lol from your link.
i just chalk that up to dumb people, but they exist everywhere. if you're making $60k household, you probably shouldn't be living in LA, SD, or SF.