Considering a move to Cali - Can I afford it?

[snowman]

Originally posted by tabs
I will say Wayne has the right idea cash out when the market is high, rent, and buy back in after the downfall.

Other than that Wayne talks alot of smack about CA RE. He just hasn't been around long enough. I have seen 3 Big Booms and 2 Big Busts in CA RE. I have watched Cali RE for over 50 years now. we are on the verge of a BIG BUST in CA RE, back to levels of affordabilty. This is not going to be a quick process but along drawn out death of nearly a decade. When Wayne says that he doesn't think he will ever buy back into the RE market in SO CA, cause it ain't never gona come back is when I would buy.

Good analysis of the current situation. However for people with good incomes its still time to buy, just more carfully than you normally would. Otherwise you still spend the money, just on taxes. If prices do go down you will need the deduction, if they don't, you need to buy more property and add to the deductions.

Bottom line, it isn't a market for low income types.

[Wickd89]

Live life and do not let money stop you from experiencing different parts of the world or the US.
I believe that anyone can afford to anywhere their heart and brain can take them, and by accepting "maybe I cannot afford to live there" will always keep you in the smallest little corners of our world.

Find a good job. Rent a place near work till you check out everything. I grew up in LA-downtown, use to live outside Manhattan, near ZurichSwiterland, and now I live near the beach in OC. Who knows whats next for any of us....

Pack your bags and get your A$$ out here!
(p.s. I hope you speak spanish)

Best of Luck!

[snowman]

No hoble english senior??

[mjshira]

Originally posted by Wickd89
Live life and do not let money stop you from experiencing different parts of the world or the US.
I believe that anyone can afford to anywhere their heart and brain can take them, and by accepting "maybe I cannot afford to live there" will always keep you in the smallest little corners of our world.

Find a good job. Rent a place near work till you check out everything. I grew up in LA-downtown, use to live outside Manhattan, near ZurichSwiterland, and now I live near the beach in OC. Who knows whats next for any of us....

Pack your bags and get your A$$ out here!
(p.s. I hope you speak spanish)

Best of Luck!

Luis

That is funny, I have lived in NYC, in Zurich and grew up in NorCal. Small world!

[mjshira]

Originally posted by RoninLB
one thing I know about James is that he has the brass to pull off anything he's after.


3yrs is enough to at least visit the NM area i mentioned. At worst it'll put many things in perspective during a great vacation.

The Gila sits in the 3rd largest sq mi County in the US. Pop is 2,800. Locals drive like those in Montana so the 2 area cities are a sweet drive away. Other than a quick eyeball in the 911, you need a 4-wheeler to get around like the locals.

hanging with many locals in the coffee shop from daybreak till 9am in a very small Gila town is amazing.

Thanks Ronnie, I appreciate your confidence. We plan to do a driving trip back from Treffen next spring, old route 66 back to the mid west. I would love to do Arizona or NW just not sure about the job situation. Things have a way of working themselves out once you set goals. I am not going to 'over plan' and miss out on a good opportunity. That said, I have a feeling we'll end up closer to a major city.