<p>When you are looking into the 200k-300k for condos and townhouses that is freaking ridiculous. I am looking at condos in the Cleveland area that are around 49k-70k, while houses are in the 80k-100k range. A 300k house is like a $1,800 a month mortage! Off the charts man. I am just hoping this real estate bubble collapses soon so I can get in on the ground floor.</p>
<p>I also live in NorCal, but in Sacramento. Here, it’s been 105 for the past couple of days. It’s miserable. However, even here housing is out of control. A house sold across the street from us (We live on a small court in a suburb) a couple months ago, and the new owners have undertaken significant remodeling (the previous owners went senile and neglected the upkeep). Even so, it sold for just about half a million. I’m not sure about that house, but ours is in better shape it is a 4 bedroom, no pool. But what would we do if we sold it? My dad works for CA state govt. So, while hypothetically we got in at the right time (15 years ago), there isn’t really any way to take advantage of our home’s value. Thankfully, FAFSA doesn’t incorporate home equity, because I pretty much have zilch for college education. Teachers and state workers are pretty much on the same page, salary-wise.</p>
<p>wow 105 degreees!! Until yesterday, I thought that people died at 100 degree range because of the water boiling temperature… I thought I was mega hot when the temp went up to 32 degrees!</p>
<p>tomadog02
I don’t get the ‘bubble’ thing you are talking about… are you asking if the costs of homes are increasing? If you are, yes. I heard my mom talking to my dad about the housing prices just speeding up or something.</p>
<p>“I thought that people died at 100 degree range because of the water boiling temperature.”</p>
<p>oh boy i hope your joking. :D</p>
<p>I think the answer to the question now is that most Californian’s can’t afford the homes. The following is off an article on Netscape.com (yeah it’s my homepage so I get some news from there lol :D):</p>
<p>**Only 16 pct of Calif. households can afford a home</p>
<p>SAN FRANCISCO, July 7 (Reuters) - The percentage of California households that can afford to buy a median-priced home has neared a record low, according to a report released on Thursday. **</p>
<p>The percentage fell to 16 percent in May from 17 percent in April and 19 percent a year earlier, according to the report by the California Association of Realtors. </p>
<p>“The record low was 14 percent set back in May and June of 1989,” said Robert Kleinhenz, an economist with the group. </p>
<p>“We’ve been under 20 percent for a year now,” Kleinhenz added, noting the effect of the lengthy run-up in home prices in California, which has one of the hottest homes market in the United States. </p>
<p>“We may see some further increases in the median price itself in the next few months and it may push affordability down one or two percentage points.” </p>
<p>A persistent shortage in housing, a growing population and home buyers taking advantage of low long-term mortgage rates and increasingly popular interest-only mortgages have fueled a sharp rise in home prices in California in the past four years. </p>
<p>The state’s median price in May for an existing single-family home of $522,590 marked an 86 percent increase from $281,330 in December 2001. </p>
<p>The California Association of Realtors forecasts the median home price to rise 16 percent to a new record of $523,150 this year.
Because home prices in California have almost doubled since late 2001, many analysts are concerned a “bubble” has formed in the state’s housing market and believe it is overheated and home prices will flatten or slump. </p>
<p>Other believe California’s housing market will be immune from a sharp correction in the near term because its economy and job growth are recovering from the long high-tech downturn at a steady pace</p>
<p>To answer the question most californians cant afford homes. many rent them and the owners own them. The main reason california’s housing market remains strong is because the value of a home on average goes up so fast that those who own a home make such a large profit that they can continue to play the real estate game. the second main reason californian’s can afford expensive homes is because, well there are more rich people in california.</p>
<p>
I’m assuming New Zealand uses celcius? It got me, too, for a second. Yeah, 100 degrees Celcius probably would kill you. But we’re talking about fahrenheit.</p>
<p>^ LOL</p>
<p>Yup celcius. I was like… 100 degrees celcius?? I thought it was freaking hot at 32+ degrees celcius and i was wondering how people survived at 100…
I’m going to have a mega metrics (?) trouble when living in the states. I only know my height in feet/inches but I don’t know how to compare stuff like gallons to litres, cm to inches, pounds to kgs…</p>
<p>It was 107 today, 107 yesterday, 106 tomorrow, 106 the next day. Projected to dip under 100 in about 7 or 8 days. Goody. I hate summer. I pretty much hate any weather over 80, and that lasts from April-October. Ick.</p>
<p>Well, the thing is, it’s worth it. The weather, the place, the life, the atmosphere, to me at least, every little bit is awesome. And weather wise, the Bay is a lot better than Nor Cal (i.e. Sacramento), a lot more moderate here, but still enough to get you sweating on a hot day.</p>
<p>I suppose if it were anywhere but here. I relish the coming of November.</p>
<p>
</p>
<p>If you’re into the casino resort scene, then Las Vegas isn’t exactly an entertainmentless to be. Albeit we have no real beach, sports teams, etc. Plus, the weather is crappy.</p>
<p>Who would want to live in the destert? ask the millions of suburbanites in san bernadino and riverside counties, right next to la and orange counties.</p>
<p>Is it cheaper to live in Compton or Inglewood? I wonder how all the want-to-be gangsters afford their houses.</p>
<p>I live in St. Louis as well. In west county on average we make way more then people in California. Places like Ladue, Huntleigh, Town & Country, Frontenac (All in St. Louis County). I think I heard something that St. Louis County makes more money then any other county in the US. But a million doller house in Ladue is pretty small compared to a million doller house in Creve Coeur. There are houses here in St. Louis that go over 10 million, which are like castles. It would be crazy to think of the price for one of those houses in the bay area. Even a million doller house here would be so expensive in Cali.</p>
<p>Now in San Fran, people earn about $55,221 a year.
<a href=“http://www.city-data.com/city/San-Francisco-California.html[/url]”>http://www.city-data.com/city/San-Francisco-California.html</a></p>
<p>In Ladue its $141,720 a year.
<a href=“http://www.city-data.com/city/Ladue-Missouri.html[/url]”>http://www.city-data.com/city/Ladue-Missouri.html</a>
In Huntleigh, 200,000 a year. <a href=“http://www.city-data.com/city/Huntleigh-Missouri.html[/url]”>http://www.city-data.com/city/Huntleigh-Missouri.html</a></p>
<p>Actually, desert housing has sky-rocketed as well. I live in SoCal in the Riverside County desert. Apparently a lot of people want to live in the desert as croberts says, we have 40+ people moving here every single day…it’s gotten slightly ridiculous. </p>
<p>Yesterday Palm Springs set a record high in temperature…120* (fahrenheit of course)…You just don’t go outside on those days ;)</p>
<p>Indeed, desert real estate is booming. My mom’s a nurse and many of the people she works with at the hospital only keep their hospital jobs for the sake of having health insurance for the families. Other than that, the money they get in real estate is enough to live off of comfortably.</p>
<p>In Cali, the house prices have shooting up like crazy. An average single family house in the Bay Area, which slightly below the SF bay, is around 1 million. The demand for housing is insane.</p>
<p>Recently, i went with my parents to a new townhouse sale. 200 people went to draw numbers for 10 houses at 700,000 with 2 bed,1.5 bath. That is how bad the housing issue is in CA. Another thing was, the last i went which was 3 months ago, the prices were 50,000 lower for identical townhouses!!</p>
<p>Seriously, i think the real estate bubble in cali might just burst within a couple of years.</p>
<p>
I don’t know how you survive that… It was 85 here last weekend and that’s about 10-15 degrees above average for this time of year for us.</p>
<p>as I said, you just don’t go outside, I also have a pool which is nice…you dry off quick ;)</p>
<p>Hey be a star, my family and I moved from a townhouse in MV also-in fact we still rent it out.</p>
<p>Ok my work here is done.</p>