Motion,

Stop it, your depressing me.

Seriously, good for you. Hope it all works out for ya and you find an un-crazy to share it with:)

Man, I read some of these posts and from a money standpoint, I missed the boat somewhere.

Some of you folks are quite wealthy.

Now I understand a bit better some of the reasons for certain viewpoints.

Interesting slice of society, apparently skewed a bit toward the upper end of the income scale.

Well put, sir.

Especially when one buys an ordinary SFR in an area that becomes hot and they fall backassward into serious money. I too would be researching my "get the hell out of civilization" plans.

Bob

True, there are huge benefits to owning a piece of real estate in a hot market. But, there are downsides also. Like huge risk. I paid 570k for my house 3 1/2 years ago. The house might have depreciated to mid 90s levels - around $250k. But I got lucky. Some people might be able to retire on what the house is worth today. There are people living on my block who paid $250k for their homes... now they're worth over $1 million. Are they wealthy? No way. Both people work, they drive 7 year old mini-vans and have one 2 week vacation every 3 years or so. Just middle-class America. Sure, they could cash out and move to Missouri and be considered wealthy.

All I'm saying is that its not as easy as it looks. I'm self employed and have had a crushing, $3000 a month mortgage payment + $500 a month in property taxes. Add another $1000 for utilities, pool cleaner, landscaper, etc. I don't have a significant other with a nice, $100k per year job like many of my friends. I've had many sleepless nights wondering how in the hell to keep this thing propped up, believe me. After a while, no matter how nice it is here, it just gets old.

ok, maybe i am still a housing newbie. but isnt the fact that california is crowded as hell going to keep the housing prices from hitting the toilet? people have to have somewhere to live. it is a basic survival need. and the basic tend to hold up better in crapass economies. i own a tiny house that is pretty comfortable for me to pay for by myself. and if i ever get married, the extra income will pay for a rebuild. even with two, i cannot imagine moving, cant afford it. i thought the only thing to crap out the housing in california hotbeds is a mass exit. say to colorado.

motion, your plan sounds nice. that would be great to sell, high end bikes. my buddy did it in san fran, so it can be done. he is now succesfull. and montana would rock. but i am a mountianman trapped in a chinese body. haha. love the great outdoors. hopefully, i can copy you and move to new mexico. way later.

I think if you sell a house in Cali and leave, you'll never be able to come back. The equity in my house represents about 1/2 my "net worth". I'm not in real estate, but I've been told that housing in Cali runs about a 14 year cycle, meaning in seven years it will drop down some and then rebound in another 7. 14 years is about when I'll "retire" (I hope, to at least not have to work to live, but I hope I'll be able to choose to work if I want to.

Yep that's me - though my wife is a stay at home mom with our two kids under age 8. We live in a very nice community of predominantly two working income households. We can afford to stay here because I do most the labor myself. Flooring, tile, masonry, landscaping, light construction, paint, etc.. all a can do for me. Wife's vehicle is paid off and I drive a 00 Ford truck. No debt other than student loans and of course mortgage/insurance/taxes. As of this week the house has appreciated 50% since we've moved in 16 months ago. <edit> That is on top of the 4 years of annual 25% rise we've been through. </edit>

Right there with ya until the "gets old" part. We're in this house for the long run and are banking that in the next 20 years this house will be paid off and worth well North of the $1M it's valued at today.

That's really dependant on where you move to. Tabs in LV has probably out gained most of us, and I've seen area's in D.C. VA and MD that are also doing really really well - though I would warn Tabs (and have) about long term investing in LV. Now if you moved to SLC or Denver...

That's what I can't fiqure out, How is the next owner going to pull it off?
That's going to be a big nut to crack.

Nothing is beautiful when your struggling under pressure.

Asia. The last 3 families to buy on my block are Asian. I don't know where they get their money, but they've got it. Very nice people, too. The ex Vietnamese general that lives across the street spends his days clipping his yard with a pair of scissors. I kid you not. Beautiful yard, though!

Probably on average 3 couples/families living in the house. That's a possible 6 incomes, probably more, and it adds up fast. A past coworker from Vietnam did this with brothers and sisters. They now own several homes in Santa Barbara - the first was a gift to their parents. Nothing fancy, but homes none the less. I've never met anyone as hard working or determined as them. Only problem is you end up with a lot of customized civic's on the street :)

Hey Richard, I don't know much about Montana other than I drove through it many years ago. But wasn't it settled by the Germans and has an "autobahn" type speed limit on the highways?

Bill,

Montana used to have basically unlimited daytime speed limits, but things have changed. Speed limit is now 75 mph. But the hwy patrol is fairly lax, if the road conditions are good. I got a "slow down" sign from a trooper last summer on my motorcycle while doing 90. Montana is truly the last of the great western frontier, and the state government is not into too much meddling.

Brian,

Uprooting the family is probably why most people just don't sell and flee. I have a 14 year old son that could probably benefit from more of a country lifestyle and small town morals. Seems like a no-brainer for my situation.

I hear ya on wanting to sell and get out of CA.

My wife an I purchased our 900 sq ft home a little over three years ago in Eastbluff, Newport Beach. I've been wanted to move back to Hawaii and have been looking at homes in South Kona (Big Island). We could actually sell out NB home and pay cash for a 3-4 bd rm house on 3-6 acreas of land with an active coffee farm and still have plenty to live on for the next 5 years. I could live the rest of my days paddling, surfing, diving and selling 1 lb bags of coffee to the tourists on Wednesdays and Saturdays at the local market. Now if I could only get my wife to agree.

I dunno Paul, that sounds like paradise to me. What's it going to take to convince her? I'm sure we could help you get creative. :D

If you guys go and you happen to need a "house-boy" let me know:) My wife can't cook to save her a5s, but she has other qualities and she does windows! We're a great team and we're cheap. Let me know, thanks.