California housing prices....

Toggle sidebar Toggle sidebar
Zebo

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
Crazy. I still don't understand how incomes can support valuations in CA. Say median is 55K that's only a 180K house using sane lending standards. Median house is what ~400K?
 
J

JS80

Lifer
Oct 24, 2005
26,271
7
81
Zebo said:
Crazy. I still don't understand how incomes can support valuations in CA. Say median is 55K that's only a 180K house using sane lending standards. Median house is what ~400K?
Click to expand...

Don't you know we all make $200k+ in California
 
Zebo

Zebo

Elite Member
Jul 29, 2001
39,398
19
81
JS80 said:
Don't you know we all make $200k+ in California
Click to expand...

I never did. I made 89k with lockheed and said F this.

Hey OP buy this and live rent free plus make a $1000 a mo
http://www.zillow.com/homedetails/1808-Scott-Rd-Burbank-CA-91504/2131885549_zpid/#{scid=hdp-site-map-bubble-address}
 
Mr. Lennon

Mr. Lennon

Diamond Member
Jul 2, 2004
3,492
1
81
Last edited:
Mr. Lennon

Mr. Lennon

Diamond Member
Jul 2, 2004
3,492
1
81
Zebo said:
I never did. I made 89k with lockheed and said F this.

Hey OP buy this and live rent free plus make a $1000 a mo
http://www.zillow.com/homedetails/1808-Scott-Rd-Burbank-CA-91504/2131885549_zpid/#{scid=hdp-site-map-bubble-address}
Click to expand...

Not a bad idea.

I'm a student right now. If it wasn't for financial aid there would be no way I could afford to live here. I guess I could get by without it, but then I would be living in some scary ass part of town.
 
Last edited:
IGBT

IGBT

Lifer
Jul 16, 2001
17,962
140
106
fed.mortgage guarantees for jumbo loans will be ending soon. Will be interesting to see how this effects property values for properties currently valued 500k and up.
 
D

DanDaManJC

Senior member
Oct 31, 2004
776
0
76
it's really just basic supply and demand. whether anyone wants to admit it, people want to live in cali. because of this, you have to pay for it. especially in prime locations like LA or SF.
 
zerocool84

zerocool84

Lifer
Nov 11, 2004
36,041
472
126
You guys always seem to forget the most important part of the equation, people WANT to live in Cali, no one wants to live in those other places which is why it's so cheap to live there. If you want cheap move to Wyoming where there's nothing around at all and you have to drive an hour on the hwy to get a gallon of milk but hey, it'll be cheap to live there.
 
HamburgerBoy

HamburgerBoy

Lifer
Apr 12, 2004
27,111
318
126
zerocool84 said:
You guys always seem to forget the most important part of the equation, people WANT to live in Cali, no one wants to live in those other places which is why it's so cheap to live there. If you want cheap move to Wyoming where there's nothing around at all and you have to drive an hour on the hwy to get a gallon of milk but hey, it'll be cheap to live there.
Click to expand...

See, this is what I'm saying. California has everything. It is the cradle of Western civilization.
 
T

TechAZ

Golden Member
Sep 8, 2007
1,188
0
71
That's a big reason why Phoenix metro has had such a big population boom. Californians move here to get 5x what they pay for in CA, then we all invade San Diego in the summer.
 
Mr. Lennon

Mr. Lennon

Diamond Member
Jul 2, 2004
3,492
1
81
zerocool84 said:
You guys always seem to forget the most important part of the equation, people WANT to live in Cali, no one wants to live in those other places which is why it's so cheap to live there. If you want cheap move to Wyoming where there's nothing around at all and you have to drive an hour on the hwy to get a gallon of milk but hey, it'll be cheap to live there.
Click to expand...

I agree with you. I love living in California. That's why I will probably be renting for a very long time.
 
edro

edro

Lifer
Apr 5, 2002
24,326
68
91
DanDaManJC said:
it's really just basic supply and demand. whether anyone wants to admit it, people want to live in cali. because of this, you have to pay for it. especially in prime locations like LA or SF.
Click to expand...
Exactly. California is easily the best climate in America. LA metro sucks because of all the people and traffic, but the rest of Cali is awesome.

Texas is cheap because it's so freaking huge. Cali is too, but it has a much higher percentage close to the coast, which is more desirable.
 
novasatori

novasatori

Diamond Member
Feb 27, 2003
3,851
1
0
Zebo said:
Crazy. I still don't understand how incomes can support valuations in CA. Say median is 55K that's only a 180K house using sane lending standards. Median house is what ~400K?
Click to expand...

I don't know about all of CA but in my neighborhood houses are rarely for sale, and most of the people have been here for generations since the houses originally cost like $30,000. Quite a few with 2 generations living together.
 
Slew Foot

Slew Foot

Lifer
Sep 22, 2005
12,379
96
86
IGBT said:
fed.mortgage guarantees for jumbo loans will be ending soon. Will be interesting to see how this effects property values for properties currently valued 500k and up.
Click to expand...


There weren't any guarantees for loans over 700k anyway and most of the houses in desirable areas are more than that.
 
olds

olds

Elite Member
Mar 3, 2000
50,082
765
126
You must log in or register to reply here.

TRENDING THREADS

COMPANY
RESOURCES
FOLLOW
Top Bottom