Does anyone know an actual person who's purchased a house in Orange County, CA? I have no idea how anyone is able to buy without putting down half mil or more or paying 10k+ in mortgage monthly. Houses fly off the market. I've had a hugely successful couple years financially and still don't come close to avoiding one of the two outcomes above. Would have to shut down retirement savings and more. And genuinely asking how the houses are being purchased. Is this what people are doing?

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It’s all legacy money. Parents paying for their kids down payment etc

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Not all.

There are many towns like this in America. On the east coast, it’s places like Greenwich, Darien, Scarsdale, Short Hills, Jericho, Roslyn, etc.

You can maybe get lucky and find starter homes for like $1.2-1.5M, but most people in those areas are living in MUCH nicer homes. Combination of family money / trust funds, and just the extremely high paying backgrounds (founders, doctors, surgeons, consulting partners, attorneys, etc).

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🙋‍♂️

I bought a condo in 2010 (near the bottom) in another city, upgraded it, and lived there for 8 years. Sold it in 2018, then moved to a SFH in Orange County. Was able to put 35% down based on appreciation and principal paydown. Current house has appreciated by around 25%, so if I sold it now, I’d have plenty of cash to put down on a nicer house.

I had a very small amount of help from my parents on the first condo, but paid it all back in a few years. A lot of people can afford houses in OC by buying a “starter” property and letting it appreciate over time. It’s definitely not easy to just buy outright as your first property, but there’s a long game to be played.

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Equity from first home

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