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JodyChunder says

Raw says

My biggest mistake one year ago when I started buying dirt cheap condos in prime Orange County locations was not leveraging myself with "free" money.

Don't sweat it -- Victor Valley real esate still looks pretty good. Come on out.

Would love to, I'll even buy you a drink, but prices have gone up there too. So now my strategy is to stick with zero leverage and buy land. Land will, IMO, outperform houses 5:1
I have done very well with land in the past.

Raw says

California real estate has been following a roughly 6 year cycle.

Yep. That seems to definitely be the case. It sort of leads back to my assertion that real estate nationally only really barely keeps up with inflation. Its just that in California the prices are more of a sawtooth pattern versus most of the rest of the country where its more of a very slow incline.

donjumpsuit says

So, $1.2m in 2018, then about $1.5m in 2024. This for a 3br/2ba in Milpitas.

I don't see anything wrong with this assessment.

All done on a household income of 85K and mortgage rates of 6%. The black market must be roaring in Milpitas! Yahooooo

A million will be the new thousand in 2024! They will be talking about getting ride of the $20 dollar bill. ;)

RentingForHalfTheCost says

donjumpsuit says

So, $1.2m in 2018, then about $1.5m in 2024. This for a 3br/2ba in Milpitas.

I don't see anything wrong with this assessment.

All done on a household income of 85K and mortgage rates of 6%. The black market must be roaring in Milpitas! Yahooooo

A million will be the new thousand in 2024! They will be talking about getting ride of the $20 dollar bill. ;)

The average homebuyer in California will just have to downsize over time. Smaller homes with smaller lots. That has been the trend for decades which we should expect will continue.

Raw says

The average homebuyer in California will just have to downsize over time. Smaller homes with smaller lots. That has been the trend for decades which we should expect will continue.

Good luck there. We couldn't possible only have houses track to salary inflation over the long run. Impossible. It has to explode to the upside, just has to! Many people's retirement is counting on that.

Raw says

Smaller homes with smaller lots. That has been the trend for decades which we
should expect will continue.

What fucking planet do you live on? That has not been the trend for decades you fucking ass wipe......

Nevada and Florida are starting to look a lot more attractive in the long run :)

Raw says

Would love to, I'll even buy you a drink, but prices have gone up there too

It's true...about 23% YOY. I confess, I didn't even see that coming.

yup1 says

Raw says

Smaller homes with smaller lots. That has been the trend for decades which we

should expect will continue.

What fucking planet do you live on? That has not been the trend for decades you fucking ass wipe......

yes.. take a look at home in SF (or any city) and compare when people moved to the burbs.. all of sudden people were cutting their lawns on weekends... and planting flowers.

thomaswong.1986 says

yup1 says

Raw says

Smaller homes with smaller lots. That has been the trend for decades which we

should expect will continue.

What fucking planet do you live on? That has not been the trend for decades you fucking ass wipe......

yes.. take a look at home in SF (or any city) and compare when people moved to the burbs.. all of sudden people were cutting their lawns on weekends... and planting flowers.

I looked and none of the houses (in the city or the burbs) have shrunk. I stood there for hours waiting for it to happen. I even seen some in the city cutting their lawn and planting flowers. Nonsense talk here.