Originally Posted By: HTSS_TR
Originally Posted By: javacontour
But is that uniform throughout CA?
After all, CA goes as far north as Oregon.
Some areas may be as described. But how many? How do you offset the negatives if you don't live in an area as you've described?
No, not all sections of California have similar real estate appreciation, Silicon Valley and Southern California are usually appreciated at much higher rate than the rest of the state.
Same for weather, coastal area are much milder all year, as much as 10-20F cooler in summer and 10-15F warmer in winter. May millions dollar houses along the beach don't have A/C because they don't need it.
Originally Posted By: Mr Nice
Only affluent folks can afford a house in California.
$800,000 for an outhouse dump of a house????
I wish I had that kind of money...
Some bought million dollar plus houses then bulldozed it to build a bigger (more like mansion than a house).
$800,000 houses in some area of San Francisco and/or Silicon Valley are needed to repair or remodel to be able to live. The house structure is not worth anything, the real cost is the lot the house sits on.
In my old neighborhood someone bought a 4-bedroon 2600 sq-ft house north of $1 mil, stay in for less than 2 years then bulldozed it to build 5500 sq-ft house.
Many people in CA have a lot of money, they just like the weather here and they are willing to spend as much as needed to live their lives comfortably.
Note: Many millions dollars home owners drive beat up vehicles, some of their 15-20 years old vehicles worth less than $500-1000.
Yes, I understand some folks have a lot of money and can afford expensive house. But not everyone can afford even a 'cheap' $500,000 house in California. My ex GF's dad was an architect and his clients bought house for the land, tore them down and built a McMansion. He did lots of work in Miami Beach.
Yes, many wealthy folks drive an old car. I know a guy worth almost $3M and drives an old car.
