Los Angeles Real Estate Reality Check: What will $800,000 buy? 

i dont know where you live with that high of a property tax that high lol, my house in chino hills only has a 2,400$ property tax and the home is worth 2 million.

crag mont try about9,000.00pr.year

Abdul Assad better hope prop.13 stays

800k..with added local tax. It could be closer to 10k

Lol living in a suburb of Chicago, property tax for a $650,000 is $15,300 right now

My husband and I made $175k last year and we still can’t afford these prices. Unless we spend 80% of our paycheck in mortgage payments.

Jaxxon a year later have you been able to maybe get home even though it’s only a year or have u moved out of the state?

Jaxxon yeah you’re can’t probably afford it because you guys probably have 2 fucken car payments of $700 monthly plus you guys have the newest phones plus playing credit cards plus paying cable plus paying Netflix plus going out to eat every day. The 95% of Americans rather spend money of food new phones buying new cars instead of investing that money in a good home. Continue renting and making someone else check.

@@Iamdc2_jay keep guessing

They Rent

Don't bet on it going up. Eventually it will take big dip but because your parents bought it so cheap they will still make a killing..my dad bought a bldg in Chicago in a proper neighborhood that really took off . He bough it for 65k fully Reno in great shape..He sold it for 300k but if he had kept it easily would have sold for 800-900k now

Inflation calculator please

McQueen Droid Make it stop!

so by the time they pay off (9 more years assuming they haven't refinanced it /30 mortgage), it will have cost them a total of $288k (with interest) + property taxes 30-50k more - $630k is for move-in ready homes - so your parents would have to dump another 50k+ to update - - actual it won't be worth a million because we are in another bubble Rancho Cucamonga is suburb ( I remember people doing the same "math" in 2008) - last to rise first to fall - So now you are up to about $400k Invested -- commission to sell on 600k about 4% another 24,000 to the agent -- so now 424k So maybe 1.60% annualized - minus 1 -2% inflation - So your parents will have made 0% or negative return even with the rosy projections for value.

But then you'd have to live in Texas

all there is to do is go out to eat and strip malls on flat land and drive a truck

anarchsnark Yeah the majority of Texas is flat and and has the highest truck ownership ratio compared to other states but deal with as many bad roads and floods as we do and a nice truck here is much better to drive than a Mercedes.... Plus we do a lot of activities that makes trucks useful. We do have good jobs, lower homelessness, lower taxes, and much more reasonable laws.

oh, you mean live in the music capital of the world, austin texas? or do you mean one of the most populous cities in america, houston? oh you must mean the lack of income tax rates?

Austin has nice parts, but be real, most of Texas is NOT Austin.

Milad Karimi “us” LMAO you seriously have a lamborghini on your profile picture. if that ain’t childish enough. 🤣

I can only speak for my own family; my parents own a small business with 3 locations. From that small business they bought a home in SF and will gift me one as soon as my bf and I agree to get married. They easily paid my rent in LA. We are not rich by any means but owning a business in SF is very profitable I guess, similar to LA

Oh don’t worry they are in over their heads. They L be foreclosing in a few years when they next crash hits.

Hey come to little old DC. I live in a 3 story subdivided house that's worth 900K. The house next door is worth 1.2 million and has been vacant for 4 years

chauncy primm o”99-

But then you spend the rest of the cost on heating and air conditioning and work in a smoke-filled casino, which will make your healthcare costs skyrocket.

Haha you hit the nail on the head. Exactly half. For the 2300 sq ft house. Heating and cooling isn’t to bad a few hundred a month but you don’t have a 4-6k mortgage a month. Imagine a 2k mortgage and then you can spend the rest on family, vacations, and retirement. Plus not everyone works in a casino.

Las vegas is a great place to live

I live in Vegas I don't work in the casinos

Well keep in mind your in the middle of know where, I to am from Illinois(Cook county ) but here for 200k you can't buy squat, even in the west side of town, nicer houses can start at 350k.

joey green..... ok but springfield is not middle of nowhere and i can have a very nice job in the middle of nowhere and pay less for everything...just saying

Yea but minimum wage there is prob like $2/h 😂😂😂

Kimberly Gonzalez well if you have a house over 100k you probably are not getting payed minimum wage even if your in Los Angeles Illinois minimum wage is 8.25 dollars a hour Los Angeles has a 15 dollar a hour but with all the taxes added on it’s not near enough to buy a 50k house without years of savings plus minimum wage jobs are for teenagers not adults trying to make a living

That's how much my house cost lol 4100 sq ft two story house. Literally two times bigger than these over priced houses on a 10,000 sq ft lot lol

jeffy john austin is to liberal move to another city for a better price

For that size on an acre 119k here.

And nicer land to go with it in Ohio too

15,000*

KC?

Twisted Mystic Minnesota, lol

Yeah, Minnesota. Prince used to own a bunch of property around the Twin Cities. There is some nice houses and land here.

Twisted Mystic but it's Minnesota

You ever been here? Woods and farms and horses and deer. Seasons. Lakes. It's nice.

I live in minnesota. 10 minutes south of St paul. it sucks here. cold as shit. high taxes. if you like to be outside and want the seasons it is fine but I've been here 36 years and these winters can pound sand. I'm ready to be done with 5 months of miserable cold.

LucaT007 got cash to buy it with?

Trust me most of us would leave because the quality of life here sucks unless you’re super rich. But unfortunately this is where our jobs are. I’m a board artist and can’t go anywhere else to find long term work except here in la.

I agree it's the jobs. I would rather be in the country with acres of land, hardly any humans! I have my dog so I am 👍!

A Hsu: San Francisco is one of the worst in the nation for ridiculous prices, and very possibly ranks first in that regard.

it is the worst by square footage I bet, aside from Manhattan

Tempting, but central CA is like 4-5 hours away from the fun! ;)

nowitsabadtime ugh not true lol we’re closer to the bay and the bay is better anyway

That’s what I was thinking

@hamsterduh- says no one ever

hamsterduh I'm a white boi from the bay tho...

Wallace Double: We have a couple of buildings like that for the elderly and disabled; I think they're about 10 stories. That's a skyscraper in southern California. 😊

Nguy Gaming: Where's that?

You must be living in Tucson, AZ or somewhere in New Mexico? Detroit maybe?

rohli estrada with his lack of ability to spell or type actual decimals to indicate dollar amounts, I highly doubt he's in a house unless its short house.

anthony barlow Lowest unemployment in decades.

A2Kaid bullshit stats

Imperial Americabullshit stats straight out of Sara Huckabee Sanders fat ass

Imperial America Is it petty when you know that the calculated unemployment rate is not an accurate representation of the unemployment rate? Is it petty to know that the majority of American workers are unaffected by stock performance and most of the rallies in the market were tied to the literal tax cuts and buybacks companies can now do with years of overseas money being hardly taxed at all? Is it petty to know that gainful employment is still lower than it was the 90s? Is it petty to know that wages have not gone up in most sectors? Is it petty to know that an abnormally large portion of the full time working population relies on welfare assistance? Face it, the country has been providing welfare to businesses for years and blaming the works for a lack of money to survive in the state of the economy. Blow that shit out your ass.

The unemployment rate was 4% under obama....

Timo 879855 It depends on the house. Some are really well done and others are not. My dad said that our house was a great deal and has held up really well for 15 years.

King Jon Starkgeryan 15 years? The house I live in is 383 years old and still stands in perfect condition

Timo 879855 To be fair your house was likely built with very different materials and for a very different purpose. Your house probably uses stone and great European trees (like oak and whatnot) and other high quality materials for some rich burgher or noble. My family's house was built using drywall, and whatever other materials that are sturdy enough and cheap enough to use to build new homes for new middle class families that are trying to get their family out of the barrios or ghetto. My family is a family of immigrants with my parents being the first ones of their families to go to college. So it all depends on who the house is being built for. If I am building a house for the very wealthy then I will build the best house I can and make it to last centuries. If I am building houses for new middle class families then I am going to build a decent house with a decent to big sized yard for their family.

King Jon Starkgeryan actually my house was built as farmhouse originally with wood and straw. It got renovated about 150 years ago for low income factory workers during the industrial revolution. It was not built for particularly wealthy people but rather had more focus put into quality due to the property being very small to allow some comfort. Area of property is 3m by 9m. If you want to I can send you some pictures via facebook or whatever you use

Timo 879855 Oh, nice. I think farm houses are typically built better. My grandfathers ranch house and sheds are probably close to 200 years old and is still in fairly good condition given that it likely saw its share of battles and what not given that it is in Mexico. Also correct me if I am wrong but isn't 3 meters x 9 meters equivalent to 9 feet x 27 feet? That is really small. I think just my parlor is bigger than that.

with worthless money .with king jerry brown picture on the new money that will be worthless

who's the freek now

Anthony Caballero realtors are a step above car salesman. Easy easy money

Truth hurts

Bert Bert: No, I think they're about on the same level as used car salesmen. So fake. Especially the Hollywood one. Most of Hollywood is a crowded shit-hole with all run down old houses and apartment buildings, busy streets day and night, no street parking, trashy businesses, and lit up all night long. In my city, most street lights go off at 10 p.m. and only a few remain on. Only the Hollywood Hills is decent, but those houses have no yards and still cost a more ridiculous amount of money than neighboring places. And some of them could slide down hillsides they're perched on, along with the land underneath.