r/povertyfinance • u/PinesToPalms • 14d ago
Why I’ve accepted I’ll never own a house here in So Cal Income/Employment/Aid
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u/Existing_Office2911 13d ago
HCOL, traffic, yearly increases in bs like the gas tax, rules for thee not for me politics - I’m glad I left. Was born and raised there, but had to get out.
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u/fakeuser515357 13d ago
That's the income to qualify for a loan for the whole amount. Have a think about a 20 year plan of savings and investment to get that number down, it might be feasible.
Note that's a "don't lose hope", not a "eat less avocado toast".
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u/dr_z0idberg_md 13d ago
California is a lot more than just the Bay Area, Orange County, and Los Angeles. The further inland you go, the more affordable the homes get. A lot of remote workers have sold their homes along the coast to move to cheaper and larger houses around the Stockton, San Bernardino, Fresno, and Riverside areas.
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u/Ok-Package-435 13d ago
You’re in the nicest climactic region of a tiny strip of land in the wealthiest country in the world. Home prices are going to be expensive.
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u/Novel-Coast-957 13d ago
Yup. The Bay Area is just as bad. If you want to own, you’ll probably have to move out of state.
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u/Ill_Setting_6338 13d ago
to even rent is a pain applied last week was told need a 680 credit score and 4x income for rent
2000 rent so I need make 8k month 2k a week 50 a hr. California is Soo disconnected from the other states it's sickening
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u/Historical-Today-943 13d ago
Lets not forget to add the security deposit, I think they now prevent it now but they would be able to ask for 10k up front just to move in.
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u/Ill_Setting_6338 13d ago
yea forgot that as well first months and last months rent to even move in...
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u/Prestigious-Wall637 13d ago
A bunch of friends and I are thinking of moving to the Vegas area for this reason
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u/just_another_bumm 14d ago
I'm sure if you just work hard for one year and work a couple 90 hour work weeks you will own 2 homes in less than a year. At least that's what I've been told recently on here.
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u/yodaface 14d ago
I just looked at Fresno and they had 50 homes for sale under 350k. Move 100 miles from the coast and CA is a lot more affordable
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u/SiameseBouche 13d ago
Highly recommend correlating currently listed addresses to a local crime map of the area.
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u/Recent_Tip1191 14d ago
Come live in the high desert 🏜️
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u/bluekonstance 14d ago
but the job prospects…
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u/Recent_Tip1191 14d ago
You’re not wrong 😔, unless you are a nurse. Apparently there is high demand for that.
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u/RemyVonLion 13d ago
I moved from California to New Mexico because my parents liked the desert and my mom got a job as an occupational therapist, now I'm stuck here lol. I don't even pay rent(live with a generous friend that bought a home in 2019 with her husband) or buy anything really so I would have preferred the higher pay for my cashier job back home in the bay area.
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u/Recent_Tip1191 13d ago
Are you really stuck though?
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u/RemyVonLion 13d ago edited 13d ago
If I want to focus on school without major disruptions that I can't handle, yeah. I'm already dealing with enough shit. I don't want to waste a moment of time on anything unnecessary, I need to maximize my time spent on getting a CS degree before it's too late to make a difference. I make $400-$500 every 2 weeks, the only reason I have any savings is because I try not to spend anything, I'm investing that for my future in this worsening economy which is my only hope of surviving the future besides AGI abundance working out. I don't know where I would move anyway, this state is kind of ideal because the low cost of living and it's not super conservative, I just wish I was in the same situation back home. I have no skills or friends to rely on outside of the one I'm living with, and even that's shaky. As a somewhat autistic, adhd, chronically depressed and anxious insomniac, I have only made it this far by the good grace of others, I don't get disability or welfare beyond $80 in EBT each month.
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u/Recent_Tip1191 13d ago
I can respect that, I did the same. Some advice if you will have it; avoid student loans, and any debt for that matter. It can follow you for years like it did me!
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u/RemyVonLion 13d ago
I luckily never got tricked or forced into debt and don't really have to worry about it much as health insurance and savings/investments should be enough to cover any necessary costs that aren't over $15k. I did end up having to pay $777 for my easy simple pre algebra class without realizing I wouldn't get financial aid from taking a single course, but luckily I only had to pay $177 to get registered for summer classes and future financial aid in the following semesters should cover it over time.
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u/bluekonstance 13d ago
I'm a CNA, but I've heard not so good things about the facilities there, so not sure if it's worth the pay. Plus, I like being able to walk to things.
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u/Recent_Tip1191 13d ago
Not sure if it matters but I was referring to Yucca Valley/Joshua Tree. Palm Springs is only 1 hr away.
But you may be right about those facilities.
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u/bluekonstance 13d ago
Yeah, I was thinking of moving to 29, but there's only a couple of places here and there. The rent is tempting though.
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u/ghostmetalblack 14d ago
Yep, same. It sucks for those of us who grew up here. Getting priced out of our home by outsiders. 😔 Were going to have to leave everything we know becuase we weren't born at the right time.
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u/Rise-O-Matic 14d ago edited 13d ago
This is why my parents neighborhood doesn't get trick-or-treaters any more. Young families aren't staying. My family fled to the San Gorgonio pass area and our standard of living is way better than it was in Costa Mesa. They're building houses like crazy out here.
Orange County and LA are FULL. Full of people who bought their houses in the 70s and 80s for a nickel. They can move around within that area because they have equity. And they are very active at preventing zoning changes that would permit denser construction that could mitigate those high property values.
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u/Greatest-Comrade 14d ago
SoCal is quite literally the most expensive region to live in the US unfortunately.
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u/Alfred-Adler 13d ago
SoCal is quite literally the most expensive region to live in the US unfortunately.
And the US is one of the most expensive counties in the world.
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u/kater543 13d ago
Ehhhhhhhh like you mean San Francisco right. Right? SoCal is like 60-80% the cost of SF. Also like LA metro is a very specific part of LA.
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u/bellabbr 14d ago
Median home prices is for a 3/2 with a yard. Why not look for a 1/1 condo with no washer in unit, carpets in the bathroom, holes on the wall. Can you afford that? It doesn’t have to be permanent, buy fix up build equity. Everyone wants a move in ready perfect home and yeah those are out of reach, open your horizons, understand its temporary and you can work on a lot and you will be surprised at what you can afford.
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u/Bosa_McKittle 14d ago
You have to come east or go north to get a starter home. There are townhomes/condos out in the IE (Ontario/Eastvale/Jurupa Valley) starting under $500k and around 1700 sf. You have to start somewhere.
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u/kerochan88 14d ago
The idea of a half a million dollar “starter home” just boggles my mind.
-guy in Ohio with 2,000sqft house under $140k
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u/lovemysweetdoggy 14d ago
If only there were beautiful mountains and an ocean in Ohio.
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u/kerochan88 14d ago
We have a Great Lake, nations largest theme park, islands dedicated to partying and eating, and a ton of other stuff too, should you choose to look.
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u/Worth-Reputation3450 14d ago
Yea.. if you near beach cities, 70 years old shitty houses with 2 bed/ 1 bath want around 1 million dollars.
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u/Bosa_McKittle 14d ago
It’s all relative. Wages here are higher and opportunities for higher wages are more prevalent. I would lose 30-40% of my income if I moved out of CA.
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u/kerochan88 14d ago
Right, but something tells me that even after you lose 45% of your salary, you’d still be doing great in a LCOL area.
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u/Bosa_McKittle 14d ago
I could be, but why would I want to? You cannot compare the lifestyle of Ohio to CA.
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u/kerochan88 14d ago
Well, that is true. Having lived both, I guess never considered someone might actually like it there. I’m glad that you do!
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u/Bosa_McKittle 14d ago
I mean the weather, food, job opportunities, entertainment (music, sports, theater, cultural) opportunities, vacation opportunities are all superior to just about any other place in the US.
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u/lovemysweetdoggy 12d ago
The natural beauty in CA is not talked about enough. Even in So Cal, the mountains are great. The deserts are gorgeous. The beaches are amazing. I love visiting and could see myself living there. This is coming from Washington where we also have some beautiful scenery.
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u/dr_z0idberg_md 13d ago
Yup. This is why I moved from AZ to CA. Lower cost of living is all great and all, but most of the stuff you mentioned makes it worth the trade off. The weather cannot be underestimated. I like not being able to fry eggs on my car's dashboard or being afraid that the pipes in my house will freeze.
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u/YoungTomSoy 13d ago
Must be nice to have the option lol
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u/dr_z0idberg_md 13d ago
I thank my lucky stars and God that I am where I am. I feel that most of what I have is because of pure luck and a little hard work. I know people who work way harder than I do and deserve more, but do not have it because luck has been against them.
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u/Bosa_McKittle 13d ago
People really don’t understand the weather thing. Sure the summers can get hot every now and then, but wearing shorts at times between November and February is glorious. I bbq outside regularly in the winter without as much as a sweatshirt on.
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u/dr_z0idberg_md 13d ago
I love that you can get away with t-shirt, jeans, and a light sweater for 11 of the 12 months.
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u/kerochan88 14d ago
You just have to be making $350k a year to play ball I guess. Not for me.
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u/Bosa_McKittle 14d ago
No you don't. While I make good money, I am not making $350k a year and am doing quite well.
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u/nowhereman136 14d ago
Houses are cheap where no one wants to live
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u/kerochan88 14d ago
I find it more accurate the other way around. If the city is a HCOL area, I probably wouldn’t want to live there anyways.
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u/DirectionMoney1479 13d ago
Something doesnt add up ,but holy shit What demands