I will never be able to afford a house in California...

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ivol07

Golden Member
Jun 25, 2002
1,475
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25 most-affordable and least-affordable housing markets

I hope the big one hits pretty soon so I can finally be able to afford a house. I'm currently living in Orange County and the last place I looked at was a 2 bedroom condo for $550k. Hmmmm....let me think about that. I think it's time to buy a house in another state and rent it till I'm ready to move in.
 
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Kermy

Senior member
Sep 15, 2000
375
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Wow, knew it was expensive here in SLO, but never realized it was more expensive than SF.
 
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notfred

Lifer
Feb 12, 2001
38,241
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Where I currently live: Yolo, Calif. - #157
Where I want to live: Santa Cruz-Watsonville, Calif. - #155

I'll pull off buying a house in Santa Cruz somehow... I just haven't figured out exactly how yet.
 
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notfred

Lifer
Feb 12, 2001
38,241
4
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Originally posted by: Kermy
Wow, knew it was expensive here in SLO, but never realized it was more expensive than SF.
Click to expand...

It's not more expensive - it's less affordable. There are a lot more high paying jobs available in SF than there are in SLO. People with high paying jobs can afford to live in SF.
 
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notfred

Lifer
Feb 12, 2001
38,241
4
0
Originally posted by: Chadder007
LOL....least affordable states are all Democrat controlled.
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Yes, the states with many rich, upscale areas like Beverly Hills and Manhattan are all democrat controlled. So?
 
HeroOfPellinor

HeroOfPellinor

Lifer
Dec 27, 2001
11,272
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Originally posted by: notfred
Originally posted by: Kermy
Wow, knew it was expensive here in SLO, but never realized it was more expensive than SF.
Click to expand...

It's not more expensive - it's less affordable. There are a lot more high paying jobs available in SF than there are in SLO. People with high paying jobs can afford to live in SF.
Click to expand...

The days of 100K HTML jobs are long gone.

A lot of the people buying these houses are from out of state and other are people who are just upgrading a little since their houses went up so much themselves.

First time home buyers in the Bay Area are very rare.

We moved to the Sacramento area because it was the only place we could afford a house on just my salary. We had our house appraised recently and it has literally doubled in value. We've been there less than three years. We're living in a house we could never dream of affording now. If we hadn't moved when we did, we'd be like all my similarly aged co-workers and friends who are looking at 6+ years before they can even get into a condo or shack.
 
M

MikeMike

Lifer
Feb 6, 2000
45,885
66
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Originally posted by: illustri
does most affordable = ghetto?
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no, most of those places in Ohio are no where near ghetto. Lima is a nice place.

basically what they did to compare was average house price, divided by average annual income.

MIKE
 

Originally posted by: illustri
Originally posted by: SampSon
You don't want to pay that much for a house.
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huh? where are you getting dollar values?
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The other 3000 threads about people in california whining about property prices.

Oh, also, I work in real estate.
 
R

randomlinh

Lifer
Oct 9, 1999
20,846
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linh.wordpress.com
Originally posted by: n0cmonkey
The DC area isn't on there, but it's friggin insane out here.
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yep yep. the fun projections have professions like police, teachers, and similar getting pushed out of the area... you need to make like 60k just to rent a place, at least if you don't want roommates. ugh... the joys of the area.
 
Triumph

Triumph

Lifer
Oct 9, 1999
15,031
14
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I don't understand how the markets can support these prices. Who can afford it? Will middle income people have to earn 150K/year in order to buy a 3 bedroom home? That's outrageous. I make 60K a year in the DC area, and I missed the boat by not buying when I moved here two years ago. If I want anything now I'm looking at 250k for a meager condo or 300k for a 2 bedroom TH.

Although thank god that I don't live in CA. That'd be enough to make me move.
 
IGBT

IGBT

Lifer
Jul 16, 2001
17,969
140
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..700k+ for a stuco shack in SF built 50 years ago..that will need 300Kof remodeling and repairs just ain't worth it. And on top of that you'll have to pay 7k a year in prop taxes and 4.5k a year for earthquake ins. Yet they still come.
 
W

Wag

Diamond Member
Jul 21, 2000
8,288
8
81
I live in the Boston suburbs and my 1 bedroom apt is going for $200k. When I purchased it 11yrs ago it was $40k.
 
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jemcam

Diamond Member
Jan 3, 2001
3,676
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I live 30 miles from #12 most affordable, Peoria, IL and about 70 miles from #9, Springfield, IL.

They're both nice places to live and raise a family IMHO.

FWIW, I grew up in central Florida so I do have something to compare it to.
 
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