patrick.net

m1ckey6 says

Middle class housing is now settling in the $2,500 to $3,500 range for decent houses in decent neighborhoods. Landlords are very keen to rent as well - they are answering their phones quickly, turning up on time and are happy to perform reasonable requests for upgrades.
This is a huge change from the bubble days. During the bubble the supply of rentals was poor because everyone could “buy” their home. Anything reasonable rented for $5k and up with a “take it or leave it” attitude.

Are you serious? I know someone who rented a 3/2 in West LA/Mar Vista for around $3K/month in 2008. How were houses in the Valley at $5K during the bubble? For $5K, you could rent a prime house in West LA in 2008.

it is spotty. Our neighbor is renting their place out for 1300 (3bd, 2bath) a month. Yet there is another one just 2 blocks from us who wants 4 grand for his place which can't rent out. Most people out here are poor Hispanics, making minimum wage so I'm just seeing declines all over.

Heres a studio condo that sold for 50k recently.

http://www.redfin.com/CA/Winnetka/20234-Cantara-St-91306/unit-234/home/3672386

Here is another studio condo that sold for 66k

http://www.redfin.com/CA/West-Hills/7125-Shoup-Ave-91307/unit-208/home/3099442

These are bottom end of course. But its crazy when the 'working folks' are even today paying 600k for a starter home in the SF valley that is 'south of blvd' but you can buy 10 apartments for 600k just one or two miles north (dont have to go to NV or AZ anymore!). Probably its better to buy 10 apartments vs one crappy 3/2 built in 1960.