84k a year is now low income for oc

[Brandon]

http://www.ocregister.com/2017/05/03/84000-a-year-now-qualifies-as-low-income-in-high-cost-orange-county/

kind of wild when you see it like that. 84k a year and you're kind of ballin in almost any place in the us.

[Lhalo]

6 out of the top 10 income limits are in California.

[Make Angels Great Again]

It's incredibly depressing when I think about how my parents bought their 4 bed/3 bath condo for something like 120k in '96. I initially thought I was doing pretty well for my age making 30ish per hour at 29 years old. Then reality set in.

What needs to change? How does something like this get fixed? Most millennials have pretty much zero shot at buying a home here, won't that cause some serious market issues?

[Catwhoshatinthehat]

A family friend bought his house about 20 years ago that's 1.5 miles away from me for 350K while he could sell it today for just north of 1M.  It's a nice house and because he can fix most anything it's in great shape but it's still crazy that his house and pretty much every other one in his tract is 1M+.  I think about all the people I grew up with who have parents who own houses in HB and for the majority the only way they end up owning a house there is if they inherit their parents.  I've often wondered how much cash buyers from overseas affects areas like Irvine in particular.  It's desirable for families for good reason but prices get driven up and people who grew up in the area are getting pushed out.  If it came down to it I'd rent in a nicer area instead of buying somewhere I wouldn't want to raise a family.      

[ABC]

Housing costs can be frustrating for most people but things change. Neighborhoods go from white to black to mexican and back to white. Prices go up and down and up. SoCal is a very desirable place to live for lifestyle, weather and jobs.  If you want to buy in a mature and economically growing area then you have to pay for it. That's how it works. If you want to have your home appreciate three-to-five-fold in 20 years, then buy in the next booming area...this requires sacrifices and pure luck.

I have lived on the Westside for 30+ years. In the 80s and 90s, it was gang infested. After strong policing, I haven't seen a legit cholo in over a decade. Plus, tech jobs have proliferated. Good luck buying a tear-down for under a mil today.

[Angel Dog and Beer]

Palo Alto market still going loony. A tear-down on a 7.5k sf lot goes 623k over asking. Sold for 2.5m. 

http://blog.sfgate.com/ontheblock/2017/05/04/980-square-foot-cottage-in-palo-alto-sells-for-623k-over-asking/

 

[mrwicked]

12 minutes ago, Angel Dog and Beer said:

Palo Alto market still going loony. A tear-down on a 7.5k sf lot goes 623k over asking. Sold for 2.5m. 

http://blog.sfgate.com/ontheblock/2017/05/04/980-square-foot-cottage-in-palo-alto-sells-for-623k-over-asking/

 

Location, location, location.

[ABC]

How are ever going to fix this problem?! 

[AngelsLakersFan]

21 hours ago, #CF8 said:

How are ever going to fix this problem?! 

WAR