Ca housing crisis

[Bpracing1127]

Well as most of us knew ca has a housing crisis. Lack of new inventory has driven prices up beyond reach for most Americans and Californians. Jobs are still in ca forcing people to have huge commutes and or rent in a high rent area

California housing crisis affecting middle class the most: It's 'a broken system' http://www.foxnews.com/us/2017/12/1...ting-middle-class-most-its-broken-system.html

 

[77charger]

I bought in 2000 in oc didnt go crazy on refi and looking to cash out in 3 years.Let someone else overpay for ca dreaming.

BTW no way i could afford my shack today.

 

[Taboma]

No worries, this should be remedied soon by virtue of supply and demand since from what I've been reading --- everybody is leaving And as an ole native, the sooner y'all leave, the happier I'll be --- bye bye

 

[Boat 405]

Bought in 2010 at dang close to the bottom. Considering selling soon and waiting for the collapse to buy again. I'm in no rush or hurry. Buying a home right now is fucking financial suicide IMO.

 

[spectras only]

Welcome to the new world. Asians buying up everything in sight, driving up real estate everywhere except slums. My friend in Vancouver just closed on selling his house for $4.5 million in a desirable area for orientals [ near Oakridge Center ] and just in two months, prices went up to $6 million in the same area for similar homes. He bought an older house on a double sized lot for 450K about 15 yrs ago and built a 4500 # home with three car garage all under 1 mil.
Developers bought his house and three adjacent homes to be bulldozed down and build a mega condo project there. They can't build highrises fast enough here and they're sold out before the foundation even started.
Only people who can buy anything decent in Vancouvers are doctors and lawyers and chinese money laundering criminals,lol.

 

[TCHB]

I am glad my two daughters have moved to other states for jobs. The jobs pay about the same as California but housing prices are 1/3 and lower taxes on wages. When I was working it was almost impossible to get any one to come from other states because of the housing prices. I feel sorry for the young generation who will be house poor.

 

[pronstar]

I'm confused, am I Asian or Oriental? I cant keep up with this PC shit anymore LOL [emoji4][emoji13]


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[Cole Trickle]

Supply and demand.... best weather in the world. Somebody is willing to pay and they somehow have the $$ to make it happen.

It’s been happening since the beginning of time. You have a choice to commute or move and find a job closer to an affordable area.

Sucks but it’s life.

 

[LargeOrangeFont]

Supply and demand.... best weather in the world. Somebody is willing to pay and they somehow have the $$ to make it happen.

It’s been happening since the beginning of time. You have a choice to commute or move and find a job closer to an affordable area.

Sucks but it’s life.

Yep, supply and demand. Not a damn thing anyone is going to do about it.

We certainly dont need any more people in the So Cal area anyway, as there is not enough infrastructure to support them.

 

[spectras only]

I'm confused, am I Asian or Oriental? I cant keep up with this PC shit anymore LOL [emoji4][emoji13]


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East Indians= asian
Chinese= oriental
You should see the mansions east indians build around here. Large families living under one roof.
Chinese buy everything and anything, comprende?

 

[jetboatperformance]

I'm confused, am I Asian or Oriental? I cant keep up with this PC shit anymore LOL [emoji4][emoji13]


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I'm in process of changing My Origin Identity (transracial) despite my "wasp" heritage because I absolutely LOVE Mexican food and culture , so I would say to choose whatever you like this is the year 2017 for petes sake

 

[spectras only]

Supply and demand.... best weather in the world. Somebody is willing to pay and they somehow have the $$ to make it happen.

Best weather is not Vancouver, albeit it's a beautiful city!

It’s been happening since the beginning of time. You have a choice to commute or move and find a job closer to an affordable area.

There are more jobs available in the greater Vancouver area, albeit most are lower paying ones.
Alberta [ oil country ] has been a bust since oil prices fallen, good paying jobs [ my son worked there as a electrician, commuting by air ] are gone there for a while. He would like to go site-C dam project that was stalled by enviro nazis but it seems like a go again. You have to get trades to get those jobs though.


Sucks but it’s life.

BTW, Pronstar, I'm not anti chinese or east indian , just stating the fact who can live and afford anything in the big city. One can by a beatiful home where I live now for a fraction what it would cost in Vancouver but I don't have to look for work for living any more. Easier said than done finding a good job and a place you'd like to live.

 

[Tank]

It’s not just housing, it’s EVERYTHING that’s more expensive. Gas, food, groceries. A friend of ours was in Wisconsin and bought a flat of strawberries for half the price they cost here. Looked at the tag and it read, “grown in Oxnard, Ca.”!!!

They’re trying to put a mixed use development in the harbor here on the property of a neglected complex right on the water. I think it’s a few hundred apts in a 4 story complex with a park and boardwalk along the water and businesses on the first floor. There’s so much outcry to not build it’s crazy.

This state is just running itself into the ground. Poor leadership.

I love the recommendation that all the elite, rich liberal sylicone valley people push their business expanse inland to help employees and developers the poorer areas. Practice what you preach! But it’s yet to happen.


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[pronstar]

Chinese buy everything and anything, comprende?

Jeezus Christ now I gotta learn Spanish? [emoji23]


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[spectras only]

I live in nearby Penticton what's called Peach City with beautiful beaches and hotels and motels along lake shore drive. Everyone comes here for the small town feeling and ambience for decades. Now that investors running out of available projects in Vancouver or Victoria, they're hell bent to buy up the lake shore motels and build highrise condos noone would be able to afford but the well to do. There're already condos built on lakeshore and they cost as much as a detached house somewhere else. There's practically nothing decent available on the market under 500-600K. Tons of 1 million plus ones been on the market for 6mth-1 year.
I'd love to buy this one, walking distance from my place. Need to win the lotto though.https://www.royallepage.ca/en/prope...kanagan-falls/130-apple-ct/5795178/mls165436/

This one next to it is a little cheaper, maybe should buy instead, haha
http://www.ovlix.com/ca/property/LREEemur-136-Apple-Ct-Okanagan-Falls-BC-V0H1R3

 

[Cole Trickle]

Yep, supply and demand. Not a damn thing anyone is going to do about it.

We certainly dont need any more people in the So Cal area anyway, as there is not enough infrastructure to support them.

Land owners , developers, city and the state know and don’t care. They will never stop building if there is money to be made and taxes to collect.

 

[LargeOrangeFont]

Land owners , developers, city and the state know and don’t care. They will never stop building if there is money to be made and taxes to collect.

Correct. And it is in all of their best interest to have prices as high as possible. In So Cal, the middle class will be forced into new condos, or large houses 75+ miles away from work. Higher end and foreign buyers will keep buying the houses in expensive areas.

 

[HALLETT BOY]

Land owners , developers, city and the state know and don’t care. They will never stop building if there is money to be made and taxes to collect.

Taxes to collect...bingo !

 

[AzGeo]

Please don't confuse a "fucking idiot crisis" with "the fucking idiots who continue to live there, crisis" .

From out here in America, it looks like you don't understand your problems, or the place you chose to have them in ..........

When YOU have a state government that caters to "illegal immigrants" more that it caters to TAX PAYERS, look in the mirror dumb ass .................

When you have leaders who "dump rain water flows, into the ocean", then 3 months later cry about having NO POTABLE WATER, don't cry here .

Al Capone was a more organized criminal than the entire California legislative branch . Yet all of them are equally criminals .

Every place we have property that has "progressives" ruling, the costs keep going UP and UP . Yet the level of services keep going down, while adding more and more restrictions .

When the stupidity of your "progressive movement" begins to overpower the stability of your "conservative business sense", you Californians have two options .

Stay, and continue to eat up the lies, support people who won't work, while sinking into the depths .

Leave, and seek out a place where you can enjoy the fruits of your labors, while giving "a little" to your community and those who are TEMPORARILY in need ...............

 

[4Waters]

I'm confused, am I Asian or Oriental? I cant keep up with this PC shit anymore LOL [emoji4][emoji13]


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Does it matter, RDP isn't PC anyway. Just pick something, but not American because then you will be labeled as a racist. LOL

 

[500bbc]

They just solved the housing crunch in LA, city council instituted a new tax to make it cheaper to build.

 

[YoPengo]

NC is closed.


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[TCHB]

I hate to rag on California because it was a great place to work, raise my two daughters, educate them (UCLA) and earn some pretty good money over the years. I see what they pay here in Havasu and my life would not be the same. When we first bought our home in Huntington Beach friends thought we were nuts. Should have bought the same house in Newport Beach!

 

[boatpi]

CA board of realtors is trying to get a modification sort of to Prop. 13 and various laws, on net years ballot. It may help, and will not hurt as I see it.

Basically if you are 55 or older, you can sell your house, keep the tax base and buy any priced higher value home (currently limited to same value +5%). The additional value, say $300K, you pay the new tax. So if you own a 1 Mil house, sell it, buy a house for 1.3 Mil, and you old base was say $3,000 per year, add in new at about 1K per 100K in value, the new property tax is 6K per year.

Currently if you did this it would be all new tax base at about 13K per year. The idea is older folks would move out of their current house of a lesser value causing movement and new owners in lower priced homes.

 

[boatpi]

That house above the lake in Canada is sweet. As I recall taxes are super high in B.C.?? Vancouver sales tax is crazy at like 17%? Been in this area, seems just a great place to live.

 

[Bpracing1127]

What is also interesting is there is no inventory for middle of the road homes. Inventory is at an all time low for so cal. You can find entry level condos and of course million dollar homes but nothing in the low 400 range that is decent.

 

[HOOTER SLED-]

What is also interesting is there is no inventory for middle of the road homes. Inventory is at an all time low for so cal. You can find entry level condos and of course million dollar homes but nothing in the low 400 range that is decent.

Lol.....that's cuz you're stuck on just looking in the OC.

 

[coolchange]

It’s not just housing, it’s EVERYTHING that’s more expensive. Gas, food, groceries. A friend of ours was in Wisconsin and bought a flat of strawberries for half the price they cost here. Looked at the tag and it read, “grown in Oxnard, Ca.”!!!

They’re trying to put a mixed use development in the harbor here on the property of a neglected complex right on the water. I think it’s a few hundred apts in a 4 story complex with a park and boardwalk along the water and businesses on the first floor. There’s so much outcry to not build it’s crazy.

This state is just running itself into the ground. Poor leadership.

I love the recommendation that all the elite, rich liberal sylicone valley people push their business expanse inland to help employees and developers the poorer areas. Practice what you preach! But it’s yet to happen.


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I wondered What they were going to do with that property. And I was afraid that they were going to build one of those big brown boxes, four stories tall with the tennis courts on top there. The tax potential of that property is huge and you know they're eventually going to build there. But it will totally ruin the harbor in my opinion.

 

[OldSchoolBoats]

Here we go again..........

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[OldSchoolBoats]

What is also interesting is there is no inventory for middle of the road homes. Inventory is at an all time low for so cal. You can find entry level condos and of course million dollar homes but nothing in the low 400 range that is decent.

Gotta move inland brother.

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[LargeOrangeFont]

CA board of realtors is trying to get a modification sort of to Prop. 13 and various laws, on net years ballot. It may help, and will not hurt as I see it.

Basically if you are 55 or older, you can sell your house, keep the tax base and buy any priced higher value home (currently limited to same value +5%). The additional value, say $300K, you pay the new tax. So if you own a 1 Mil house, sell it, buy a house for 1.3 Mil, and you old base was say $3,000 per year, add in new at about 1K per 100K in value, the new property tax is 6K per year.

Currently if you did this it would be all new tax base at about 13K per year. The idea is older folks would move out of their current house of a lesser value causing movement and new owners in lower priced homes.

RonNJen hates this, he will be along soon to tell you that people on fixed incomes should have wildly varying and ever increasing property taxes

 

[LargeOrangeFont]

What is also interesting is there is no inventory for middle of the road homes. Inventory is at an all time low for so cal. You can find entry level condos and of course million dollar homes but nothing in the low 400 range that is decent.

Because that is where most of the middle class people can afford to live and few wants to move “up” in house because the cost is too great.

You can buy a nice new 1200 sq ft condo with a $500/month HOA in the $400s

 

[LargeOrangeFont]

Gotta move 300 miles inland brother.

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Fixed!

 

[Advantage 1]

Have people been using their homes as ATMs again I have seen LOTS of new toys this last year in the water and the desert... boats, trailers, RVs, buggies, SxS...

 

[Singleton]

Bought in 2010 at dang close to the bottom. Considering selling soon and waiting for the collapse to buy again. I'm in no rush or hurry. Buying a home right now is fucking financial suicide IMO.

I purchased at the same time. While my house is appraised at double what I got it for, rent in the same area is 1k more a month then my mortgage payment, so I could not afford to live in the same area, and that would cause an issue. Once the middle kid is out of HS (May 2019), we will reassess options.

 

[Advantage 1]

Yep, supply and demand. Not a damn thing anyone is going to do about it.

We certainly dont need any more people in the So Cal area anyway, as there is not enough infrastructure to support them.

My team's pipeline for apartment development is insane for the next 4 years... All West Coast - San Diego to Portland. No shortage for supply. We are set to deliver 718 units next to PetCo Park [San Diego] starting May 2018.

 

[RodnJen]

Like Tank said, there is huge opposition for the multifamily complexes all across the west coast. The problem is the demand is greater. The economics of my city have changed drastically since I was a kid. A father/mother could go to work for Nabisco, Hughes Aircraft, Hawaiian Punch, Beckman one of several hospitals etc. and still live affordably within a few miles. Now those business, and the multi-levels of employment, are all gone. Land is being zoned to adjust for shrinking manufacturing and retail and to accommodate the rising population that still wants to live in CA, OC specifically.

The housing crisis is a symptom of a larger employment problem which has been going on longer than most of us have been alive. I don't have an answer. I can tell you that state and local officials prefer the revenue from industry over the tax revenue from housing. The return on investment for industry is much higher and requires fewer services per/sq mile.

And like Large Orange Font said, tax reform would to a long way to stabilizing the CA economy. Although it would not be enough to keep some companies from seeking lower costs of doing business.

 

[thetub]

see the government will figure it out for us...

one way is they want to get rid of prop. 13 all together starting with commercial properties...

another genius idea is that they want to implement a state wide rent control...

see this will work by making creating incentive for more multi unit housing by killing any profits that can be made from it...

along with that the awesome eviction laws that lawyers love to exploit here in Kalifornia...

 

[coolchange]

They wanted to build one of those big four story Brown boxes in my neighborhood. San Fernando Valley mid-50s Ranch neighborhood. Totally nonconforming structure. We beat them back but I knew there was no way we could stop it. Way exceeds population density of the area. We got the height dropped from over 50 feet 2 under 40 feet. And move back some Frontage. Point is studio apartments starting at $1,800 a month, one bedroom for 2500 a month.

 

[BHC Vic]

You can buy a badass house in chino(college park) brand new for low 500’s. They started high 4’s a few years ago. 5 bed 3 ba w a next gen suite. Friend just bought a bad ass house in Apple valley. High 200’s. Commutes to Ontario. Depends on what you want and where you want it. We started in corona

 

[c_land]

NC is closed.


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Yucaipa is closed too.

 

[Ballyhoo]

Please don't confuse a "fucking idiot crisis" with "the fucking idiots who continue to live there, crisis" .

From out here in America, it looks like you don't understand your problems, or the place you chose to have them in ..........

When YOU have a state government that caters to "illegal immigrants" more that it caters to TAX PAYERS, look in the mirror dumb ass .................

When you have leaders who "dump rain water flows, into the ocean", then 3 months later cry about having NO POTABLE WATER, don't cry here .

Al Capone was a more organized criminal than the entire California legislative branch . Yet all of them are equally criminals .

Every place we have property that has "progressives" ruling, the costs keep going UP and UP . Yet the level of services keep going down, while adding more and more restrictions .

When the stupidity of your "progressive movement" begins to overpower the stability of your "conservative business sense", you Californians have two options .

Stay, and continue to eat up the lies, support people who won't work, while sinking into the depths .

Leave, and seek out a place where you can enjoy the fruits of your labors, while giving "a little" to your community and those who are TEMPORARILY in need ...............

Insert a mic drop here...

 

[Tank]

I wondered What they were going to do with that property. And I was afraid that they were going to build one of those big brown boxes, four stories tall with the tennis courts on top there. The tax potential of that property is huge and you know they're eventually going to build there. But it will totally ruin the harbor in my opinion.

I’m actually not against the project (but don’t tell any of the people that live in this area!!) the Fishermans wharf is a dump and is complete unused potential. Work/live complex would be killer, bring more shops and business’ in and bring some new tax revinue. There is supposedly a caveat that you have to live in the units of you buy one. About (65% of the beach homes around here are second / vacation homes). The complex is nice looking and has a seeet public park and extends the walkway along the water as well as revamps the existing wharf properties. Is a cool project. Down side is the traffic is going to be horrible!!!

They’re also re-building the casa sarena hotel into a kick ass new hotel / marina.

This is the project on the corner of Channel Islands and Victoria.

This is the new hotel at the end of peninsula that the Infiniti pool on the water will look across to sea fresh

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[Tank]

I think this is the main reason everyone puts up with all the nonstop and complete bullshit this state consistently dishes it.

Pic from the deck just now. 72 degrees 10:30am December 15th! I guess it comes down to what’s your tipping point?

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[LargeOrangeFont]

I purchased at the same time. While my house is appraised at double what I got it for, rent in the same area is 1k more a month then my mortgage payment, so I could not afford to live in the same area, and that would cause an issue. Once the middle kid is out of HS (May 2019), we will reassess options.

I'm in the same boat, bought in 2009, owe less than half what it is worth. I could rent it out for $1000 profit per month... just don't want to pay double in property taxes.

I could afford to buy my house today, I just would not want to.

 

[LargeOrangeFont]

My team's pipeline for apartment development is insane for the next 4 years... All West Coast - San Diego to Portland. No shortage for supply. We are set to deliver 718 units next to PetCo Park [San Diego] starting May 2018.

It is all a push to get you out of your car and herd you into high rise perpetual leases.

 

[checkrd past]

Any else notice all the new huge apartment buildings going up around the metro staion.

 

[RodnJen]

Any else notice all the new huge apartment buildings going up around the metro staion.

You mean like these? This is new and sits on the site of an old packing and distribution center, right on the tracks. Two bedroom units starting at $2,754.

http://www.maldenstation.com/malden..._landing_pages=1&rl_retarget_none=38_298961_1

 

[Advantage 1]

It is all a push to get you out of your car and herd you into high rise perpetual leases.

With 60,000 sf of retail on the first level, live-work units sprinkled around and the nice pools, gym, California rooms and amenities, people will never have to leave

 

[Englewood]

I am heavily involved in the industry. I own 4 companies in the real estate field and I am concerned. Although I don't know what will cause prices to drop, I feel that prices have become unreasonable again. I am personally on spending lockdown (for the most part). I want to be ready to go if prices come down in the future.