i dont know where you live with that high of a property tax that high lol, my house in chino hills only has a 2,400$ property tax and the home is worth 2 million.
I lived in the inland empire most of my life. Rancho Cucamonga, to be exact. And let me tell you I loved it. But it's insane the prices now. Our family home, my parents bought in 1996 for 115,000. Is now priced at 630,000 today, with no updates in 15 years. I told my parents to keep it, because, in 10 years, the house will be valued close to a mil, with renovations.
Don't bet on it going up. Eventually it will take big dip but because your parents bought it so cheap they will still make a killing..my dad bought a bldg in Chicago in a proper neighborhood that really took off . He bough it for 65k fully Reno in great shape..He sold it for 300k but if he had kept it easily would have sold for 800-900k now
so by the time they pay off (9 more years assuming they haven't refinanced it /30 mortgage), it will have cost them a total of $288k (with interest) + property taxes 30-50k more - $630k is for move-in ready homes - so your parents would have to dump another 50k+ to update - - actual it won't be worth a million because we are in another bubble Rancho Cucamonga is suburb ( I remember people doing the same "math" in 2008) - last to rise first to fall - So now you are up to about $400k Invested -- commission to sell on 600k about 4% another 24,000 to the agent -- so now 424k So maybe 1.60% annualized - minus 1 -2% inflation - So your parents will have made 0% or negative return even with the rosy projections for value.
I can only speak for my own family; my parents own a small business with 3 locations. From that small business they bought a home in SF and will gift me one as soon as my bf and I agree to get married. They easily paid my rent in LA. We are not rich by any means but owning a business in SF is very profitable I guess, similar to LA
Hey come to little old DC. I live in a 3 story subdivided house that's worth 900K. The house next door is worth 1.2 million and has been vacant for 4 years
Jaxxon yeah you’re can’t probably afford it because you guys probably have 2 fucken car payments of $700 monthly plus you guys have the newest phones plus playing credit cards plus paying cable plus paying Netflix plus going out to eat every day. The 95% of Americans rather spend money of food new phones buying new cars instead of investing that money in a good home. Continue renting and making someone else check.
In Germantown Tennessee you can find brand new 2story houses with a 2 car garage and 1,500 square feet of house sitting on 0.20 acres of land for about 130k
Well keep in mind your in the middle of know where, I to am from Illinois(Cook county ) but here for 200k you can't buy squat, even in the west side of town, nicer houses can start at 350k.
joey green..... ok but springfield is not middle of nowhere and i can have a very nice job in the middle of nowhere and pay less for everything...just saying
Kimberly Gonzalez well if you have a house over 100k you probably are not getting payed minimum wage even if your in Los Angeles Illinois minimum wage is 8.25 dollars a hour Los Angeles has a 15 dollar a hour but with all the taxes added on it’s not near enough to buy a 50k house without years of savings plus minimum wage jobs are for teenagers not adults trying to make a living
But then you spend the rest of the cost on heating and air conditioning and work in a smoke-filled casino, which will make your healthcare costs skyrocket.
Haha you hit the nail on the head. Exactly half. For the 2300 sq ft house. Heating and cooling isn’t to bad a few hundred a month but you don’t have a 4-6k mortgage a month. Imagine a 2k mortgage and then you can spend the rest on family, vacations, and retirement. Plus not everyone works in a casino.
Get outta here I live in a 5 bedroom 3 bathroom two story house with a big backyard and it cost about 350,000k and it’s 3,500 square feet and I live in Modesto california
OMG - That last Home is CHEAP!! - Here in Auckland - NEW ZEALAND, that house would easily get between $1.5 Million - $3 Million. Maybe more, depending on the area it's in. Houses are very expensive here. Even a run down 2 bedroom small home with a tiny section would get you around the $1 Million mark.. 😨😨😨
I live in minnesota. 10 minutes south of St paul. it sucks here. cold as shit. high taxes. if you like to be outside and want the seasons it is fine but I've been here 36 years and these winters can pound sand. I'm ready to be done with 5 months of miserable cold.
hay iwould wait a fue years to buy a house in californa the prices might plumet .like Detroit's .everyones leaving banks will try to get them off there hands and lower the costs.
Damn guys I would gtfo of LA area. No offense. The guy said moving out of the condo space and into true single family home (not word for word) wow. I’m in Las Vegas in a good neighborhood my house is close to the first house in size and look. I pay a very low mortgage compared to you guys and I own my home. It would just be bragging if I told you how much. It’s time to look for a better city. Even the raiders bought a house here. Lol their getting a 1.9 billion dollar home. Gl to you Californians. What’s gonna happen when you guys can’t write off the interest from your massive home loans?
Trust me most of us would leave because the quality of life here sucks unless you’re super rich. But unfortunately this is where our jobs are. I’m a board artist and can’t go anywhere else to find long term work except here in la.
California’s problema is flippers!! Paying 200k then selling for 500k ! A las needs to pass to prevent any more of this!! Just because they punted the damn house!
Lmao!!! Meanwhile in Texas I have a 4100 sq ft two story house on a 10000 sq ft lot for 200k lol I am from LA but I'm not stupid enough to throw all my money away on one property lmao
Sadly even for 800K those house look pretty poor quality except maybe the last one in Upland! And the taxes are going to be a minimum 7 thousand. My friend bought a condo few years ago in Santa Monica for 600k and she pays 10 grand in house taxes and its only a ugly stucco building. No wonder people are leaving the state. I live in Hollywood and it was nice 30 years ago, but not anymore.
Wallace Double: We have a couple of buildings like that for the elderly and disabled; I think they're about 10 stories. That's a skyscraper in southern California. 😊
All the people complaining about the prices don’t live in LA lmao. Of course y’all complaining. Yall gotta remember about the minimum wages are different in each state. Also I wouldn’t want to live in the middle of nowhere
This is bullshit. These houses aren’t worth half of what they are priced at. This overpriced market is keeping first time buyers from getting a decent starter home. This needs to end.
hay every buddy i have 86,000.00.houste and pay 652.00 a month 4 bed two bath. fire place large livlng room large kitchen and dinning room .eat your hart out haha
rohli estrada with his lack of ability to spell or type actual decimals to indicate dollar amounts, I highly doubt he's in a house unless its short house.
Imperial America Is it petty when you know that the calculated unemployment rate is not an accurate representation of the unemployment rate? Is it petty to know that the majority of American workers are unaffected by stock performance and most of the rallies in the market were tied to the literal tax cuts and buybacks companies can now do with years of overseas money being hardly taxed at all? Is it petty to know that gainful employment is still lower than it was the 90s? Is it petty to know that wages have not gone up in most sectors? Is it petty to know that an abnormally large portion of the full time working population relies on welfare assistance? Face it, the country has been providing welfare to businesses for years and blaming the works for a lack of money to survive in the state of the economy. Blow that shit out your ass.
Timo 879855 It depends on the house. Some are really well done and others are not. My dad said that our house was a great deal and has held up really well for 15 years.
Timo 879855 To be fair your house was likely built with very different materials and for a very different purpose. Your house probably uses stone and great European trees (like oak and whatnot) and other high quality materials for some rich burgher or noble. My family's house was built using drywall, and whatever other materials that are sturdy enough and cheap enough to use to build new homes for new middle class families that are trying to get their family out of the barrios or ghetto. My family is a family of immigrants with my parents being the first ones of their families to go to college. So it all depends on who the house is being built for. If I am building a house for the very wealthy then I will build the best house I can and make it to last centuries. If I am building houses for new middle class families then I am going to build a decent house with a decent to big sized yard for their family.
King Jon Starkgeryan actually my house was built as farmhouse originally with wood and straw. It got renovated about 150 years ago for low income factory workers during the industrial revolution. It was not built for particularly wealthy people but rather had more focus put into quality due to the property being very small to allow some comfort. Area of property is 3m by 9m. If you want to I can send you some pictures via facebook or whatever you use
Timo 879855 Oh, nice. I think farm houses are typically built better. My grandfathers ranch house and sheds are probably close to 200 years old and is still in fairly good condition given that it likely saw its share of battles and what not given that it is in Mexico. Also correct me if I am wrong but isn't 3 meters x 9 meters equivalent to 9 feet x 27 feet? That is really small. I think just my parlor is bigger than that.
Bert Bert: No, I think they're about on the same level as used car salesmen. So fake. Especially the Hollywood one. Most of Hollywood is a crowded shit-hole with all run down old houses and apartment buildings, busy streets day and night, no street parking, trashy businesses, and lit up all night long. In my city, most street lights go off at 10 p.m. and only a few remain on. Only the Hollywood Hills is decent, but those houses have no yards and still cost a more ridiculous amount of money than neighboring places. And some of them could slide down hillsides they're perched on, along with the land underneath.
Looks like the renovation budget ran out 😂
Don't forget the $6300 property tax that comes with a 800k home
i dont know where you live with that high of a property tax that high lol, my house in chino hills only has a 2,400$ property tax and the home is worth 2 million.
crag mont try about9,000.00pr.year
Abdul Assad better hope prop.13 stays
800k..with added local tax. It could be closer to 10k
Lol living in a suburb of Chicago, property tax for a $650,000 is $15,300 right now
I lived in the inland empire most of my life. Rancho Cucamonga, to be exact. And let me tell you I loved it. But it's insane the prices now. Our family home, my parents bought in 1996 for 115,000. Is now priced at 630,000 today, with no updates in 15 years. I told my parents to keep it, because, in 10 years, the house will be valued close to a mil, with renovations.
Don't bet on it going up. Eventually it will take big dip but because your parents bought it so cheap they will still make a killing..my dad bought a bldg in Chicago in a proper neighborhood that really took off . He bough it for 65k fully Reno in great shape..He sold it for 300k but if he had kept it easily would have sold for 800-900k now
Inflation calculator please
McQueen Droid Make it stop!
so by the time they pay off (9 more years assuming they haven't refinanced it /30 mortgage), it will have cost them a total of $288k (with interest) + property taxes 30-50k more - $630k is for move-in ready homes - so your parents would have to dump another 50k+ to update - - actual it won't be worth a million because we are in another bubble Rancho Cucamonga is suburb ( I remember people doing the same "math" in 2008) - last to rise first to fall - So now you are up to about $400k Invested -- commission to sell on 600k about 4% another 24,000 to the agent -- so now 424k So maybe 1.60% annualized - minus 1 -2% inflation - So your parents will have made 0% or negative return even with the rosy projections for value.
What are all of these people doing for a living to buy these houses left and right?
Milad Karimi “us” LMAO you seriously have a lamborghini on your profile picture. if that ain’t childish enough. 🤣
I can only speak for my own family; my parents own a small business with 3 locations. From that small business they bought a home in SF and will gift me one as soon as my bf and I agree to get married. They easily paid my rent in LA. We are not rich by any means but owning a business in SF is very profitable I guess, similar to LA
Oh don’t worry they are in over their heads. They
L be foreclosing in a few years when they next crash hits.
Hey come to little old DC. I live in a 3 story subdivided house that's worth 900K. The house next door is worth 1.2 million and has been vacant for 4 years
chauncy primm o”99-
This reporter is hilarious with his narration.
I never understood how people in California can afford these home prices when the average person in Cali makes less than a $100,000 yearly
My husband and I made $175k last year and we still can’t afford these prices. Unless we spend 80% of our paycheck in mortgage payments.
Jaxxon a year later have you been able to maybe get home even though it’s only a year or have u moved out of the state?
Jaxxon yeah you’re can’t probably afford it because you guys probably have 2 fucken car payments of $700 monthly plus you guys have the newest phones plus playing credit cards plus paying cable plus paying Netflix plus going out to eat every day. The 95% of Americans rather spend money of food new phones buying new cars instead of investing that money in a good home. Continue renting and making someone else check.
@@Iamdc2_jay keep guessing
They Rent
In Germantown Tennessee you can find brand new 2story houses with a 2 car garage and 1,500 square feet of house sitting on 0.20 acres of land for about 130k
had a 3000 sqf home in illinois on 5 acres for 200,000. and property tax was 1500 and 50miles from springfield il
Well keep in mind your in the middle of know where, I to am from Illinois(Cook county ) but here for 200k you can't buy squat, even in the west side of town, nicer houses can start at 350k.
joey green..... ok but springfield is not middle of nowhere and i can have a very nice job in the middle of nowhere and pay less for everything...just saying
Yea but minimum wage there is prob like $2/h 😂😂😂
Kimberly Gonzalez well if you have a house over 100k you probably are not getting payed minimum wage even if your in Los Angeles Illinois minimum wage is 8.25 dollars a hour Los Angeles has a 15 dollar a hour but with all the taxes added on it’s not near enough to buy a 50k house without years of savings plus minimum wage jobs are for teenagers not adults trying to make a living
That home is about half the cost in Las Vegas, NV
But then you spend the rest of the cost on heating and air conditioning and work in a smoke-filled casino, which will make your healthcare costs skyrocket.
Haha you hit the nail on the head. Exactly half. For the 2300 sq ft house. Heating and cooling isn’t to bad a few hundred a month but you don’t have a 4-6k mortgage a month. Imagine a 2k mortgage and then you can spend the rest on family, vacations, and retirement. Plus not everyone works in a casino.
Las vegas is a great place to live
I live in Vegas I don't work in the casinos
Get outta here I live in a 5 bedroom 3 bathroom two story house with a big backyard and it cost about 350,000k and it’s 3,500 square feet and I live in Modesto california
OMG - That last Home is CHEAP!! - Here in Auckland - NEW ZEALAND, that house would easily get between $1.5 Million - $3 Million. Maybe more, depending on the area it's in. Houses are very expensive here. Even a run down 2 bedroom small home with a tiny section would get you around the $1 Million mark.. 😨😨😨
The only thing I look for when finding a place to live is if there's enough parking.
Sounds like all these houses are just ment for flippers to make a quick buck.
In my old hood in Austin Texas. a 900 sqr foot track house already costs 250k. This looks wonderful.
jeffy john austin is to liberal move to another city for a better price
800k would get you a 4500 sq ft house with a 15,00 sq ft lot in nice parts of Chandler, Arizona
15,000*
Wow 800 k could get you 40 acers and a 2500 sq foot house near KC, and about 1/4 the tax.
KC?
I live in a 1200 sq ft house in San Jose worth over $750,000. It’s crazy out here in California.
For that size on an acre 119k here.
That guy selling points is to chill outside in the hiking trails instead of inside the house he is trying to sell.😂😂😂😂😂
If I see that a house needs a security camera by the door my first reaction ain't positive. I get causes of the neighbourhood.
Keep it, not interested.
You can get that in ohio for $70,000
And nicer land to go with it in Ohio too
Houses like this in Minnesota are half the price, including a huge backyard.
Twisted Mystic Minnesota, lol
Yeah, Minnesota. Prince used to own a bunch of property around the Twin Cities. There is some nice houses and land here.
Twisted Mystic but it's Minnesota
You ever been here? Woods and farms and horses and deer. Seasons. Lakes. It's nice.
I live in minnesota. 10 minutes south of St paul. it sucks here. cold as shit. high taxes. if you like to be outside and want the seasons it is fine but I've been here 36 years and these winters can pound sand. I'm ready to be done with 5 months of miserable cold.
Last house is great!
Someone give this reporter a Golden Globe.
they have houses for 15,000.00 in Detroit .use to be . alot more
3:31 Sold!! I'll have a hospital close by incase my child is injured by a drive by!
I can get that for 200k in texas😂😂😂
That's how much my house cost lol 4100 sq ft two story house. Literally two times bigger than these over priced houses on a 10,000 sq ft lot lol
hay iwould wait a fue years to buy a house in californa the prices might plumet .like Detroit's .everyones leaving banks will try to get them off there hands and lower the costs.
1.6m for a decent house on my block in SF. LA is cheap.
A Hsu: San Francisco is one of the worst in the nation for ridiculous prices, and very possibly ranks first in that regard.
it is the worst by square footage I bet, aside from Manhattan
What will 200,000 buy there? A tent under a bridge I bet. I love this house
My price range for a house is around 1.5 million MAYBE 2 but I’d have to really like it
LucaT007 got cash to buy it with?
Damn guys I would gtfo of LA area. No offense. The guy said moving out of the condo space and into true single family home (not word for word) wow. I’m in Las Vegas in a good neighborhood my house is close to the first house in size and look. I pay a very low mortgage compared to you guys and I own my home. It would just be bragging if I told you how much. It’s time to look for a better city. Even the raiders bought a house here. Lol their getting a 1.9 billion dollar home. Gl to you Californians. What’s gonna happen when you guys can’t write off the interest from your massive home loans?
Trust me most of us would leave because the quality of life here sucks unless you’re super rich. But unfortunately this is where our jobs are. I’m a board artist and can’t go anywhere else to find long term work except here in la.
I agree it's the jobs. I would rather be in the country with acres of land, hardly any humans! I have my dog so I am 👍!
Please update these...lol. The housing market in LA is bonkers.
When is the big dipper due.
800,000 may get me a large studio on manhattan.
No One talks about the Property taxes ,average annual tax is close to $5000 or even higher!!! Lets talk Property taxes, Shall we.
These house in central California are like $400,000
Tempting, but central CA is like 4-5 hours away from the fun! ;)
nowitsabadtime ugh not true lol we’re closer to the bay and the bay is better anyway
That’s what I was thinking
@hamsterduh- says no one ever
hamsterduh I'm a white boi from the bay tho...
Move to Silicon Valley and that 800k house is a million dollar plus house.
Why you guys never do Santa Clarita
California’s problema is flippers!! Paying 200k then selling for 500k ! A las needs to pass to prevent any more of this!! Just because they punted the damn house!
Cheaper than Vancouver 🤤
beautiful zone.
Lmao!!! Meanwhile in Texas I have a 4100 sq ft two story house on a 10000 sq ft lot for 200k lol I am from LA but I'm not stupid enough to throw all my money away on one property lmao
I'll take it
Sadly even for 800K those house look pretty poor quality except maybe the last one in Upland! And the taxes are going to be a minimum 7 thousand. My friend bought a condo few years ago in Santa Monica for 600k and she pays 10 grand in house taxes and its only a ugly stucco building. No wonder people are leaving the state. I live in Hollywood and it was nice 30 years ago, but not anymore.
It’s too bad rich people in LA aren’t cool and build towers like NY rich people.
Wallace Double: We have a couple of buildings like that for the elderly and disabled; I think they're about 10 stories. That's a skyscraper in southern California. 😊
If i had 800 gs for a home i would get the f out of the state and head east where its cheaper....
California is a time bomb
ridiculous. For 800k you can live on a country club in the Metro Atlanta area
I WANT THE RANCH HOUSE 😭😭
260000 will buy you a lakefront 3000 sqft house where i live with a huge backyard
Nguy Gaming: Where's that?
I don’t understand
you can't make enught money mow lawns after mid night
That's 200k here
300K MAX
He sells it lol. I would not spend that much ever
Prices are going to collapse
All the people complaining about the prices don’t live in LA lmao. Of course y’all complaining. Yall gotta remember about the minimum wages are different in each state. Also I wouldn’t want to live in the middle of nowhere
These houses would go for $175-250 in Lincoln NE... For fucks sake these are such a fucking rip off.
This is bullshit. These houses aren’t worth half of what they are priced at. This overpriced market is keeping first time buyers from getting a decent starter home. This needs to end.
The new home styles inside and out are soooo boring! I live in a century-old home with real hardwood floors and wood trim!
Sick !!!
Its not a joke, more homless on the rise
Inland empire seems like the best value, but still terrible value compared to other states
Damn living in Cali sucks...glad I live in FL😂
hay every buddy i have 86,000.00.houste and pay 652.00 a month 4 bed two bath. fire place large livlng room large kitchen and dinning room .eat your hart out haha
You must be living in Tucson, AZ or somewhere in New Mexico? Detroit maybe?
rohli estrada with his lack of ability to spell or type actual decimals to indicate dollar amounts, I highly doubt he's in a house unless its short house.
Be sides the fame people, Who are these people that keep on buying these homes that cost$$$$$$$$$$$$$$$$$$$$$$$$$!
Penia should say North Hollywood... That's were the up and coming Mexicans live!!!
And how is this country doing better under the current administration?????
anthony barlow Lowest unemployment in decades.
A2Kaid bullshit stats
Imperial Americabullshit stats straight out of Sara Huckabee Sanders fat ass
Imperial America Is it petty when you know that the calculated unemployment rate is not an accurate representation of the unemployment rate? Is it petty to know that the majority of American workers are unaffected by stock performance and most of the rallies in the market were tied to the literal tax cuts and buybacks companies can now do with years of overseas money being hardly taxed at all? Is it petty to know that gainful employment is still lower than it was the 90s? Is it petty to know that wages have not gone up in most sectors? Is it petty to know that an abnormally large portion of the full time working population relies on welfare assistance? Face it, the country has been providing welfare to businesses for years and blaming the works for a lack of money to survive in the state of the economy. Blow that shit out your ass.
The unemployment rate was 4% under obama....
What will 800k buy you in LA? A turd
Muito bom
you will have king jerry brown. you won't be able to vote
with worthless money .with king jerry brown picture on the new money that will be worthless
who's the freek now
American houses are horrible. They seem so cheaply made
Timo 879855 It depends on the house. Some are really well done and others are not. My dad said that our house was a great deal and has held up really well for 15 years.
King Jon Starkgeryan 15 years? The house I live in is 383 years old and still stands in perfect condition
Timo 879855 To be fair your house was likely built with very different materials and for a very different purpose. Your house probably uses stone and great European trees (like oak and whatnot) and other high quality materials for some rich burgher or noble. My family's house was built using drywall, and whatever other materials that are sturdy enough and cheap enough to use to build new homes for new middle class families that are trying to get their family out of the barrios or ghetto. My family is a family of immigrants with my parents being the first ones of their families to go to college.
So it all depends on who the house is being built for. If I am building a house for the very wealthy then I will build the best house I can and make it to last centuries. If I am building houses for new middle class families then I am going to build a decent house with a decent to big sized yard for their family.
King Jon Starkgeryan actually my house was built as farmhouse originally with wood and straw. It got renovated about 150 years ago for low income factory workers during the industrial revolution. It was not built for particularly wealthy people but rather had more focus put into quality due to the property being very small to allow some comfort. Area of property is 3m by 9m. If you want to I can send you some pictures via facebook or whatever you use
Timo 879855 Oh, nice. I think farm houses are typically built better. My grandfathers ranch house and sheds are probably close to 200 years old and is still in fairly good condition given that it likely saw its share of battles and what not given that it is in Mexico. Also correct me if I am wrong but isn't 3 meters x 9 meters equivalent to 9 feet x 27 feet? That is really small. I think just my parlor is bigger than that.
This news reporter is making the CA Realtors look bad, well at least the first two... I don't like this RUclips video.
Anthony Caballero realtors are a step above car salesman. Easy easy money
Truth hurts
Bert Bert: No, I think they're about on the same level as used car salesmen. So fake. Especially the Hollywood one. Most of Hollywood is a crowded shit-hole with all run down old houses and apartment buildings, busy streets day and night, no street parking, trashy businesses, and lit up all night long. In my city, most street lights go off at 10 p.m. and only a few remain on. Only the Hollywood Hills is decent, but those houses have no yards and still cost a more ridiculous amount of money than neighboring places. And some of them could slide down hillsides they're perched on, along with the land underneath.
You can buy a decent apartment with this much money in Hong Kong
seems stupid cheap ... here in silicon valley lesser homes are $2M