Quote:
Originally posted by Porsche-O-Phile
SoCal better correct soon or there won't be any working class people left. You'll have multi-millionaire movie star types and their serfs - gardeners / landscapers, hairdressers, cooks, etc. It's going that way now in a big way. The middle class is running from L.A. in DROVES and I may be doing the same if stuff doesn't correct soon. I'm not about to pay rent until I'm 70 years old and I'm sure as hell not paying a half million dollars for a piece of crap old house with no yard that's realistically worth about $200,000 if that. Anybody who buys a house in this market is a fool, and they're going to find out the hard way soon enough.
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I agree w/ you 100+%. I was in a house yesterday that just changed hands in an "OK" part of the San Fernando Valley of L.A., I didn't want to ask the sucker, (I mean buyer), how much he paid but I'll guess $600k+. In a sane market it was a $200k house, (and probably was 3-4 years ago), but the main point is that I
absolutely could not have lived in the house.
It was a *****box, built on the cheap 30-40 years ago w/ a pool surrounded by cement in the back. 2-1/2 BR/2 BA., small yard, and NO VIBE whatsoever other than the fact that only a real loser would ever live in it. I'd hang myself. But people are
that desperate to buy a house, trying to get in before the American Dream is officially over in CA.
Sad. I felt sick as I left the place.
