Remember people have to live somewhere. If they are no affordable places in LA, they will be forced to move to Riverside or San Bernardino.
You are part of the reason houses are expensive because you oppose any new dwellings. you keep on saying people can live in existing houses… How so if the houses are already occupied?
Yeah, I want to live in Brentwood and I don’t want anything new built once I’m in. Easy to say if you don’t care where people will live. Your QOL is great, if you have money and a job nearby… but everyone else has to commute from San Bernardino.[/quote]The above issues are where you and I differ in opinion. You yourself have posted here numerous times that FTBs should buy an “imperfect” place and DIY (as much as possible) to create “sweat equity.” The truth is that there is plenty of unoccupied (or sellers willing to sell and move) existing housing to choose from in nearly ALL CA coastal counties. The reality is that the millenials don’t want them. If they decide to purchase, they want it as new as possible (preferably brand new construction). Nearly . Every . Single . City in the SGV (22 cities in all) has one or more fixer uppers available at any given time (incl condos). Or SS/fixer SFR listings which might be able to be had for a $300-$400K price … yes, even today!
For example, millenials are commuting from BF Egypt (that includes Stockton, folks) because they want to. They consciously CHOSE this lifestyle while turning down closer-in housing choices.
I saw a good-sized 1950’s cosmetic fixer situated on a generous lot in the Hayward Hills asking the high $300’s a couple of weeks ago. Distance to the SM Bridge was 5-7 minutes, including stoplights. I’m sure it’s gone now. I suspect a handy boomer or professional flipper/boomer picked it up in an all-cash sale … NOT a millenial who so desperately needs to live close to work for a reasonable price! From what I could tell, its only major defect was a utility line easement which touched the ground and was shared by an adjoining parcel.
Oakland abounds with fixer-uppers and there are some GREAT parts of town, people.
Oh, and your Brentwood fixer upper on a 1/2 AC lot was in the mid-high $300’s in the early-mid nineties. Where were you, brian? Were you able to buy real property back then, and if so, did you qualify for a ~$350K purchase? You had that window of opportunity to purchase your “dream” and let it pass (so did I) :=0
