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Posted: 6/30/2015 10:09:28 PM EDT
[#1]
Make lots of money and be broke....
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Posted: 6/30/2015 10:11:30 PM EDT
[#2]
House poor x 3
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Posted: 6/30/2015 10:13:31 PM EDT
[#3]
Math works differently in California.
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Posted: 6/30/2015 10:13:41 PM EDT
[#4]
that's a cheap house for Orange Co
median home price = $620k |
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Posted: 6/30/2015 10:14:48 PM EDT
[#5]
My wife watches all those flipping, home buying shows. Blows my mind what comparable houses to ours go for in different regions of the country.
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Posted: 6/30/2015 10:15:18 PM EDT
[#6]
More money.
I get an extra $24,000 "bonus" for living in SoCal ... that paid my mortgage, all my utilities, state taxes, and insurance bills with plenty to spare. |
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Posted: 6/30/2015 10:16:39 PM EDT
[#7]
Quote HistoryQuoted:
My wife watches all those flipping, home buying shows. Blows my mind what comparable housesto ours go for in different regions of the country. We were watching Love it or List it yesterday and some home on the east coast was a one bed one bath and was worth $650,000 on a suburban street. That would have bought three homes in my neighborhood that each were three to four times the size. Location, location, location. |
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Posted: 6/30/2015 10:18:45 PM EDT
[#8]
Even here in nowhere, OH $100k doesn't get you very much. Maybe a fixer upper on a 1/4 acre lot or a trailer on a couple acres.
In order to get a nice house on some real acreage I had to spend over $300k. I'm not sure what you're asking, but there are plenty of online mortgage calculators that will help you out. |
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Posted: 6/30/2015 10:20:29 PM EDT
[#9]
It only works on the "Bigger Fool" principal.
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Posted: 6/30/2015 10:22:20 PM EDT
[#10]
They use Obama Bucks.
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Posted: 6/30/2015 10:22:52 PM EDT
[#11]
Lol.....that's pretty good where I live. Check out 22314.
My neighbor has a $5,000,000 home - four bedrooms and 2 car garage. A block away, they sell 525sq ft junior apartments for $300k. With A/C hanging off the windows. lol Then see what a 3 bedroom apt goes for .....yeah, you read right $4,000,000. That's an apartment! 
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Posted: 6/30/2015 10:24:05 PM EDT
[#12]
Location, Location, Location
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Posted: 6/30/2015 10:25:57 PM EDT
[#13]
He 'was' a real estate agent and made big bucks before the crash, hence the cash. And they make $100 k on some of the flips.
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Posted: 6/30/2015 10:26:08 PM EDT
[#14]
They make 5x as much money than you would be my guess
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Posted: 6/30/2015 10:29:46 PM EDT
[#15]
Quoted:
Im watching a house flipping show. 1400 square feet 2 bed 1 bath house in Orange, CA sold for $519,000. Thats 5x what my house cost. How do people afford that? Are they paying 5x what i am, longer term, a combination???? there are 250 sq ft studio apartments in Hoboken NJ that rent for $4000/month. take the ferry 6 minutes across the Hudson river into Manhattan and you can make $400K/yr trading bonds sitting at a desk. ar-jedi |
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Posted: 6/30/2015 10:31:12 PM EDT
[#16]
A 2bed-1bath? That's 50-90K here, considering something that small is going to be old and probably not in the best neighborhood, unless it's out in the country.
Although 1400sqft is a little larger than average for a 2/1. I see those shows too, and I can only assume a lot of people are insane. $500K will get you a mansion here. If you showed me a little house and said it was $500K, I would laugh in your face. |
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Posted: 6/30/2015 10:32:13 PM EDT
[#17]
I've been told that a lot of people in California never plan to actually pay a mortgage off. 50 year mortgages.
I can't imagine not being able to own my own home. I'm almost 40 and mine will be paid off in a few years. If I hadn't gone back to college again, it'd be paid off next year. |
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Posted: 6/30/2015 10:35:31 PM EDT
[#18]
That's the cost of a townhouse where I live.
Folks tend to earn more in areas where housing is expensive. And they sit in traffic more. |
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Posted: 6/30/2015 10:35:43 PM EDT
[#19]
Real estate taxes are lower outside of Texas and so are IQs.
I keed.  Taxes be lower, income is higher, but it's still insane. I'm closing a mortgage for a client tomorrow morning. This is a four bedroom house in gated community for 229,000. His payment is about 1700 a month. The taxes are about a third of that. 229,000 in California might get you an efficiency. |
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Posted: 6/30/2015 10:37:00 PM EDT
[#20]
Quote HistoryQuoted:
Real estate taxes are lower outside of Texas and so are IQs. I keed.
Taxes be lower, income is higher, but it's still insane. I'm closing a mortgage for a client tomorrow morning. This is a four bedroom house in gated community for 229,000. His payment is about 1700 a month. The taxes are about a third of that. 229,000 in California might get you an efficiency. Is that 30 years? |
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Posted: 6/30/2015 10:42:19 PM EDT
[#21]
Quote HistoryQuoted:
My wife watches all those flipping, home buying shows. Blows my mind what comparable houses to ours go for in different regions of the country. Oh yeah. I live in the Dallas area. Best housing market in the country. Prices everywhere else are just stupid. 1950 sq ft, 124k 890 a month 20 year. We make 6 extra full payments a year, all to principal. Bought 2 years ago, my first buy. Eta. 0 down VA loan, no pmi. |
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Posted: 6/30/2015 10:42:37 PM EDT
[#22]
many people have had family living there for years, bought houses in the 50's, sold in the 90's. I have an aunt and uncle who's first house was at the end of the long beach airport, planes flying overhead all day, they bought the house after wwII for 14,000 bucks, 2 bed 1 bath, sold it in the 90's for 243.000, moved to lake elsinore in a 400,000 house.
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Posted: 6/30/2015 10:48:31 PM EDT
[#23]
Quote HistoryQuoted: Is that 30 years? Quote HistoryQuoted: Quoted: Real estate taxes are lower outside of Texas and so are IQs. I keed. Taxes be lower, income is higher, but it's still insane. I'm closing a mortgage for a client tomorrow morning. This is a four bedroom house in gated community for 229,000. His payment is about 1700 a month. The taxes are about a third of that. 229,000 in California might get you an efficiency. Is that 30 years? |
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