How much income do you need to buy a house in Orange County?
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- Опубліковано 15 жов 2024
- Orange County has become one of the most expensive places to live in California and you'll need a hefty income to afford even a median home there. abc7.com/post/...
I make 350k with my wife and I can tell you I would never buy a 1.3 million dollar home that’s ridiculous.
Damn that’s great I only make 120k with mine you good 👍
1.3 million dollar house that’s worth $350k
It really is unacceptable… pass laws against air bnb, corporate investments, and foreign investments.
It’s the price to pay to keep safe and away from lower income earners who could never afford it. That’s how Orange County is the safest place in California with 7 cities in the top 10 safest cities. But it’s really just south OC that’s safe and the average home price there is more like 1.8M and up.
@@joeshmoe8952 and most homes are 30 years old from the 80's
Ever since I was a kid the OC has always been pricer than most of the rest of LA.
The pricing isn't that much different OC versus LA.
@@MiteshDamania that's bad news then, if the rest of LA has caught up to it. Bad news for buyers of course.
@@MiteshDamania depends if you’re taking about north OC or south OC. South OC, everything south of Irvine, has always been affluent and wealthy. But yes places like Stanton, Garden Grove or Anaheim are considerably more affordable and similar to LA pricing.
Crazy
You’d be surprised that most houses in LA cost more than OC homes. A single family home in Culver City is the same price as a single family in Irvine.
Depends. We talking Santa Ana or Laguna Beach?
what part of median did you not understand
Rates won't come down for years to come. Get used to it. This is the normal.
That's probably true. Housing costs aren't just about interest rates though. It's a market so it's also about supply and demand. There simply aren't enough homes in Orange County due to decades of exclusionary zoning which are arbitrary laws from the 1950s that ban building more homes. It's ridiculous we haven't repealed that red tape yet.
It’s impossible to buy even harder to pay rent,
It’s too expensive to live in California…
Maybe you should get into politics instead of working a crappy job
every city in California should have affordable housing. Low and middle income families deserve a place to rent and buy.
Some cities and towns are much more affordable, where you can buy for a lot less, but you have to go way out in the desert areas bordering AZ and NV.
A million dollar home today is not what it used to be...a million dollar home today is like buying a $700k home five years ago...
Or a $300,000 25 years ago
But you don't need to buy a $1.3M home for your first home. Buy a condo in your price range, hold it for 7-10 years, then sell it and use that equity to buy the bigger home. Its a stepping stone to get to a bigger home.
The real estate equity ladder is going to fall apart. Everything is based upon the first time homebuyer and not enough people make that kind of income to uphold everyone’s home paper wealth.
after 7-10 years, the price of a bigger home falls down while your condo price goes up?
Condos ARE $1.3 here - at the low end!
By 2030 everyone will be living with their parents. The new American Dream LOL
So true !😂
That’s happening now!!😅😅😅😅
American Dream standards has also changed, it’s not only owning a house anymore but also owning a 65” TV, apple computers and among other things that make owning a home even harder. I think this is not only about how hard it is to own a house but also a matter of spending habits and priorities.
You don’t have to live in OC.
@@qgwueirbtbyoall of those products are way cheaper than a house
You need about 5 families!
Orange County only seems expensive to everyone not living in the Bay Area. Here, outdated starter homes are $1.5M. Even condos sell for $1.5-1.7M.
Still, I’m glad I bought my large single family home in Orange County in my 20s when prices were well below $500K in the early 2000s. Instead of splurging on cars that would have long depreciated to zero like my peers, I saved my coffee money and did what I had to.
It's not only showy cars and coffee but vacations, vacations on ships, subscriptions, not cooking at home, fast fashion, beauty hauls, manis, pedis, and weekly drinking.
That was smart. I wish the kids of today had the same opportunity.
Exactly. I purchased a single family home in san jose ( not a desirable zipcode), it's 1100 sqf ( 2 beds and 1 bath) at 700k 8 years ago. Guess what i have been offered at 1.6 mil cash
@@dannyt7075 Well done! Not much available for under $1.5M anywhere in San Jose, unless you're in the sketchiest 95127 or 95116 areas. Even 95128 is hot stuff. Still, the truly amazing part is that San Jose remains the cheapest city for housing in the South Bay. Just try to get anything for under $3M in Los Altos, just a few miles away.
Cant afford to live anymore
And then they raise your rent 25% and up, not sustainable.
If you buy one of these homes, you won't need to pay rent. Property taxes increase only 2% per year, giving you 13 years to match that 25%. Mortgage on that median priced home is about 3 times my take-home pay.
$1,300,000 how close to the beach can I walk 5 mins or have to drive a hour( including hunting for a parking space)
every city in California should have affordable housing. Low and middle income families deserve a place to rent and buy.
Not according to billionaire Nancy Pelosi and her inept nephew
That’s you need 500k down which u should have in equity from previous starter home sales and saving up
There is already a lack of housing and yet we are shipping in herds of people from around the world thru the southern border...
Yuuup
I wonder where they are living
that means only 2% or 6,500,000 people out of the 325,000,000 in the united states can afford a home in OC
Still Cheap vs Santa Clara county ( 2mil)
buying a RV and park in the OC walmart is much cheaper
lol live in your car in the parks in hb....so many people there doing that,,,,,,
They said that homes where unaffordable back in the 80s as well 😅🤦♂️ only wish we had those prices again.
You can buy a small condo. It’s not necessary to get a house over one million
Kids and dogs say otherwise
This is why I save my money so I can find my own place to live in Irvine.
Don't forget to budget for HOA and Mello Roos then.
I wonder what the utilities would be
even if u were living in the house
"temporarily" poor and cheap
West side in LA is 1.1-1.2 so basically the same - you’re screwed under 250k
Orange county refuses to admit most of the county is a glorified city and needs to build condo towers and denser building to accommodate.
😂😂😂😂😂😂 All you can do is laugh at this point.
Wheres all the #$_--ing money coming from?
Up until recently foreign investors who pay full price in cash to rent these properties at a premium. Back in 2012 my friend was moving out of state and put up his 3 bedroom, 2 1/2 baths with attached garage condo in Anaheim. His realtor told me he put the listing up at midnight and by 1230am he had 6 full price cash offers. This has been the trend for nearly two decades.
@@deanm375 should be illegal!
@@MiteshDamania I agree. And now China is buying up huge swathes of farmland in the Midwest. How is THAT legal? Puts our food supply in danger.
Political leaders are more worried about Tic Toc.
@@deanm375
Buy a van is cheaper, save $$$$$$. You don't your home. Wake up!
They need more supply or they will need to leave
Who are buying the homes?
Imagine putting a million dollars down payment for a home in OC and your 30 year mortgage payments is $3000.00 per month?
OC is expensive for a reason...
what reason is that it is now full of homeless and crime LOL and yes i have been in hb for 40 years
What a steal! 1.3M USD only gets you a town house in Vancouver.
Save up to put 20% down.
YOU NEED 4 JOBS FOR A HOUSE, UNLESS YOUR A DEM, THEN ITS FREE.
We need another round of stimulus check so we can afford a house in OC!!! AHAHHA
Just move to a 3rd world country. California is like a 3rd world country anyway (with 1st world prices).
Already in the planning stage.....👋 America. Enjoy your overpriced "Everything"
It is out of reach not almost out of reach
It’s better to RENT an apartment/condo in Irvine than to own a house in a low income place in LA or Inland Empire.
Where did you get that ridiculous advice from 😂
I bought in a low income LA neighborhood before Covid and have roughly $500,000 of equity now. How much equity would I have built renting?
Just buy a 3,000 Sqft Manufactured home for $275k then buy land 😆 Somewhere..
Build back better
😂
Build Back Broker
1) Build Back Better Act never passed. 2) The housing shortage in OC is due to decades of exclusionary zoning which has banned building more homes for no good reason.
Don’t worry. Fresh off planes Chinese are buying California houses like toys!
You mean fresh off the boats and over the border illegally
@@gill.5116 I mean fresh of airplanes business class legal immigrants. They are the ones who got the money to buy whatever they want
Dont hate the player
You mean California!
Good, keep all the poor people out of OC
You're a horrible person.
Easy. Leave.
Orange County is ghetto …. I reside in Belair…
do u know what CA, IL & Washington DC all have in common
the have the highest social service system per population in
their state on welfare, and COULD BE why they also have the
highest gasoline prices, per population, in the country
hehehehe
oh, and with it, the highest crime rate
Need Elon musk to build affordable homes and crash the market
Thank you Biden!! Best president ever!!!
You will own nothing and be happy.
BIDEN: I DID THAT!!!😅😅🫵🏻🫵🏻🫵🏻