[Porsche-O-Phile]

Have to agree again. . . I looked at a six-unit apartment building in Anaheim recently - asking price was $1.3M. Figure mortgage payments on the order of 1% monthly is 13,000 a month divided by six units = $2,166 a month per unit. With full occupancy.

Think you're gonna' get that in ANAHEIM?!?! Doubtful to say the least. If I want to live on-site and manage myself there goes one of the units. Now it's $2,600 a month for each unit. That ain't gonna' happen - plain and simple. And if any major maintenance work needs to be done, you're screwed.

Something simply has to give with this pricing - it's totally unsustainable as-is. I have yet to see an exception to this hypothesis.



Thanks for your advice on the down payment thing, but moving really isn't an option. Where are we going to move? I live in Long Beach now, work in Glendale. My wife works in Santa Ana. I suppose I could take a job closer to O.C. but the housing isn't going to be any less expensive out that way. . .

The people that say "just move somewhere cheaper" I fear really haven't thought that statement through because if you move somewhere cheaper, your salary is going to be less, you have to start (most likely) a new job with a new company which hurts your credit, you have to "start at the bottom" and prove yourself and all that crap that goes along with it. . . It's not so simple unfortunately. I wish I had an easy solution but I don't.

As far as simply sacrificing and saving up - a 10%-20% down payment on a half million dollar place is still $50k or so. That would literally take about 5-10 years to save up. Not so easy, especially considering I'm in my mid-30s. . . I know PLENTY of people in my situation too. . . I have no issue with saving up or sacrificing to own, but I need to know that my sacrifice will be worth something in the end. As it stands, I'm not so sure. . .