This market is insane and total sh*t.

This is almost 1 million bucks. That's at least $5,500-$6,000 a month lmao.

https://www.zillow.com/homedetails/3...20582979_zpid/





Any apartment that's $1800-2000 is infinitely nicer.

And I bet within a few blocks there's someone street camping in an old RV for next to nothing.

I would be miserable in that house, throwing 5k towards it. I would rather rent an apartment for like 1800. Even townhomes are like 400k and they're new/modern.

his name? Gerald

I was just reading the average price of a home in the US has risen in the past year from around #320,000 to about $370,000. Hope more homes are built soon to help lower housing prices.

Blue California doesn't like home building from what I've read. As a result imagine homes prices will continue to climb higher. Just a guess though.

"No, abortion won't rescue Dems in November"

https://www.washingtonexaminer.com/o...ms-in-november

excerpt:

....You know price increases in food, gasoline, clothing — everything — are becoming increasingly burdensome. But right now, take a look at what it takes to buy a house. In March 2021, the median price of an existing house nationwide was $326,300, according to figures compiled by Freddie Mac and reported in the New York Times. Today, just one year later, that price has risen to $375,000.

That's just the purchase price of the house. The price of financing the house has gone up significantly, too. The buyer of that median-priced house, if he put down 10% and financed the rest with a 30-year mortgage, would have to pay a 5.10% interest rate, as opposed to a 2.98% rate a year ago, according to the New York Times. That would mean the typical monthly mortgage payment, which was $1,235 a year ago, is now $1,834. That is nearly a 50% increase.

To take a more specific example, the Houston Association of Realtors recently released a report saying that less than half of the households in Houston, 47%, earned enough to purchase a median-priced home, which in the area costs $330,800. This time last year, 58% of the households in Houston earned enough to buy a median-priced home. "The median price of a single-family home in Houston has increased nearly $80,000 in the last two years, and this makes it difficult for families to afford to buy a home," said Patrick Jankowski of the Greater Houston Partnership. "As home prices and interest rates continue to increase, we could see more people stay in rentals or multifamily units because they cannot afford to move, and some people are going to have to accept less house than they originally wanted to buy."

By the way, rents are up, too — 17% nationally in the last year. So if you are a renter hoping to buy, it will cost you more to stay, and it will cost you more to go.

So with all that happening — the price of gasoline up 48% on an annual basis, used cars and trucks up 35.3%, new cars up 12.5%, meat, fish, poultry, and eggs up 13.7%, plus the cost of housing rising farther and farther out of reach — with all that going on, plus a Democratic president with a job approval rating mired in the low 40% range, does anyone really think the Supreme Court's Roe decision will make the difference in this year's midterm elections? Of course, something entirely unforeseen could occur and consume our politics. But right now, bet on the economy to be the decisive factor in November.

For a deeper dive into many of the topics covered in the Daily Memo, please listen to my podcast, The Byron York Show — available on the Ricochet Audio Network and everywhere else podcasts can be found. You can use this link to subscribe.

I've built nicer looking sheds than that house

it's going to be underwater by 2050!


alledgedly

Insanity tbh. Can't believe the prices are still going up there, I thought everyone's leaving?

I think I can actually live with the idea of being a rentcel throughout the remainder of my 20's and all of my 30's tbh. Might just have to anyways. Maybe get some roommates for some years too.

Maybe 2 years ago you missed the boat phgt. Now go pay your rent before you get evicted srs

Only if it’s in the hills

belongs in a mobile home park

Same. At first I thought it was a old single wide in a trailer park. I couldn't imagine wanting to be in LA that bad. Lol @ all the bars on the place. Looks like a cage at the zoo. Bet it's in a chit neighbourhood.

For that kind of money I could still have beachfront somewhere or a house with a nice acreage.

Rent free too



Lol. Just looking at it on street view
WTF is wrong with the roof? Lmao




Nice neighbourhood when the other 2 houses down the street have boarded up windows.

You're 5'7"

Looks like Mexico.

That same house in my area would go for about 50-60K (srs).


You buy a home for long term housing/building equity. I can't imagine wanting to buy and/or live in that home for a long period of time. I get it, California has the best weather, a schit ton of things to do and lots of opportunity. But if you're living like a welfare rat what's the point?



I built my house for 196K. From my travels in California/checking real estate there I'd need to spend about 1.5 million minimum to have comparable housing in Cali. What I spend $585 per month on would literally cost me over 8K per month in Cali to own.


Its absolutely crazy to me that people would choose to live in a schithole house like that past 21-24 years old.

rentcels on watch

Brutal

Los Angeles Real Estate is literally one of the most sound financial investments in the HISTORY OF THE WORLD.
GOAT Climate, GOAT WEATHER, GOAT Scenerey, GOAT Variety of nearby Climates, GOAT Things to Do, Goat Outdoor Activities, GOAT Topography, GOAT Geodiversity, GOAT NIMBISM(from Real Estate Investor's Point of View) etc doesn't just grow on trees.
This is just one of the MILLION different things that in SoCal that cause skyrocketing home values.
You just can't get this GOAT stuff anywhere in the US besides Hawaii and California.

Los Angeles is pretty much Mexico these days.

Wouldn’t buy a house in LA for less than 3mill. (I mean I wouldn’t buy one at all but if I had to live there again that would probably be around the price point I would have to look at)

Currently house shopping in my area and I’m looking at homes for half that that would be twice the size and on acreage compared to what 3mill would even get me in LA.

I’d rather live in Mexico

“You will own NOTHING, and you will be happy”

Anyone who doesn’t see what’s happening at this point, doesn’t believe The Great Reset is underway, is quite literally sleepwalking.

brb it’s just a bubble, a correction is coming just wait
brb hope they build more homes soon!
brb it’ll all settle down and the current/future generations will be just fine silly
brb smoothbrain


I had hoped and pressed against it, I really did, but I’ve come to accept that it’s going to take cataclysmic suffering and collapse for the vast majority of Americans to snap out of their hypnotized state.

It’s depressing, it’s infuriating, it’s maddening, but it IS happening.

Steel your hearts, steel your minds bruhs. Find Jesus if you can, he will provide splice and the fortitude you’re going to need to make it through ded srs.

1 mill for a starter home phuck no. Looks like a 10k house nvm lmao time to move

LA, NY, London, Sydney doesn't ****ing matter, get in hard and fast. If you think prices are bad now they will be bananas in a few decades.

Lol at the ceiling height in the OP

In this thread plenty of miscers still dont understand the most basic rule of real estate. Everyone is focused on the home. The $1M is for the land that home sits on. As soon as you learn this, you will be better off.

I have a 1200sqft 2BR 2 BA in Austin that is tax valued at $1.1M and its also a real dump. Bought it in 08 for $280k and back then my friends thought I was crazy because they were looking at the house vs the land.
My father always taught me......by the crappiest house in the best neighborhood you can afford. That has served me well over the last few decades.