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I’m looking at the prices of houses in the LA area and have decided to marry rich.

likefunnyupliftingsmart
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I feel so lucky that we bought in 2001 in LA county in an area that grew. It’s worth 3x now.

I’ve been wondering how we add entirely new cities to the country. Does each city continue to just grow and people continue to commute to the city center or is there some process where a new city forms? It seems like in the past 50 years there hasn’t really been any new cities. Maybe Bakersfield or San Louis Obispo becomes a big city?? I would love to retire to northern Colorado.

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Let me guess - Santa Clarita?

Lived in Orange County and was making good money. Was in the market for a house but the area didn’t look it was in a growth phase, so moved to a city outside of Nashville. Couldn’t be happier with the move. Live in a great house on several acres. Plus when you adjust for the state taxes I paid in CA, no state income tax in Tennessee, and the COL adjustment, I am basically making the same money.

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I moved from Houston to NYC and and no city it state income tax gave me a huge raise! I’ve never looked back.

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I can’t figure out how so many people can sustain these prices. My spouse and I are well paid by any measure, and even the cheapest houses here are at the top end of what could be feasible. Average household income in LA is way below what we make. Something doesn’t add up.

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Xenophobia: dislike of or prejudice against people from other countries.

You aren't really listening to PS1 if you see that in what they have said. There is no dislike of people from other countries, they have spoken up *for* immigrants in the US, and are speaking against the very wealthy from overseas distorting the housing market, which exists first and foremost to put a roof over the heads of residents, not sit as investments. There is no prejudice either, prejudice is making unsubstantiated conclusions based on a trait, but if e.g. 95% of foreigners buy places they don't live in, that's not unsubstantiated, and it's not about them being foreigners, it's about what they are doing.

With that said, I agree that best answer here seems to be not focused on foreigners, but focused on policies that make owning more than one property increasingly expensive or any property that is not lived in.

Sincerely, an immigrant in LA.

likeupliftinghelpful

We bought a 2 bed 1 bath for 600k in 2016. It’s in one of the best school districts in LA county (all 8 or 9 rated schools). It’s now worth 1M. We moved out of CA and rent it out as we know we will never be able to buy there again, and we make $800 a month on it in profit (that’s renting under market too). Our current house is 3x the size of our LA one and half the mortgage.

Moral of the story - get TF out of LA. It’s not sustainable, and you’re basically living paycheck to paycheck.

likeupliftingsmarthelpful

Thank you! You are the best I will check it out.

Are you hot enough to marry rich?

funnylikesmart

Prove it

I think the real problem is the lack of public transport in west-coast cities. In Europe for example, you can rent/buy outside the city for way cheaper and commute by train. It’s a vicious circle too, because lack of public transport results in high population densities in small areas, hence more demand vs supply, hence those prices… 🤷‍♂️

likehelpfulsmart

SB 9 and SB 10 are supposed to fix that.

I bought earlier this year in LA.

Have been saving up for a down payment for quite a while, while paying off student loans in the meantime.

If you budget well, it's feasible.

I'm single and it was hard, just having two people will make it so much easier. You don't need to marry rich, marry for love

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Picfair village

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5 years ago, SO and I were squeezed in a small townhome. Now we’re living in a $2M+ home.

Don’t underestimate the power of savings and most impotently the power of compounding.

likefunnysmart

SP1 just clowned themselves in this post. No one cares what you paid on the other side of the country. This post is about LA housing.

likefunny

As someone from San Francisco Bay Area, we wish our home prices were as low as LA…

likefunny

Wow. I bought 1,200 sf for 400K back in 2017 in LA.

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Marry the Malibu / Palisades Rich, not the Long Beach or Torrance rich 🤑😆😆

likefunnyhelpful

OK GOT IT WELL NOTED! will filter my app dating based on location!

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I bought three years ago and it was a great decision. Just focus on making a household income of like $400k and you’re good.

likefunny

I work in payroll for tech in LA and can assure you most SWE are not pulling in 300k unless it’s years where their ESOPs are vested (in those years I see anywhere from 300k-45M for employees). Most are between 120-180k.

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(1) Who is Rich and (2) does he believe in polygamy?

funnylike

Y’all, I’m gay. I can’t just live anywhere, so I can’t take the advice on moving to like Indiana or Wisconsin.

likefunny

I grew up in Madison! It’s honestly great. However the job market is verrrrrry limited. You either work for the government, the university, or Epic.

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I’ve been rich and I’ve been poor. Rich is better

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It can’t buy happiness but can buy you the kind of misery you prefer

likefunny

I’ve postponed my home buying plans 2 years in a row now.

Let’s see what 2022 brings.

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You could solve this by just living somewhere cheaper (and nicer) than LA.

LA is a cesspool so genuinely don’t understand why people want to live there when San Diego is an option

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I’d rather be dead in CA than alive in AZ

likesmartfunny

I’m glad my husband and I don’t want kids. We don’t need a house or any assets to pass on generational wealth. I just want to live in a small cottage in Scotland. Not cheap but at least we will have free healthcare. My hubs is a British citizen so we can move.

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I will miss the CA sunshine and warm weather but if I want sunshine I can go to Portugal, Greece, Spain, South of France, or Italy for a cheap plane ride I suppose.

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Consider moving. I used to live in ny. Owned my own 1br condo but had a lengthy commute, not enough closets, didn’t like my neighborhood. It was supposed to be my starter apartment but I was never able to upgrade because growth in real estate prices outpaced my salary increases. Then I moved to Miami, and one of the reasons was I saw how much further the dollar stretches here when it comes to real estate.

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Yup. Unless you come from a moderate level of wealth in Florida, you’re not going to be able to afford what’s available within a reasonable distance of the business districts.

get in line

likefunny

They all moved to houston now our 250k houses are going for 350-450k

likesmart

Well WaPro just broke an story and part of it is the King of Jordan and his $100M in homes in Malibu, CA. Lol. No wonder no one on this bowl can afford a home there when kings are throwing around that level of chedda.

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funnylikeupliftingsmart

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Thanks

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