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Warpy

(114,620 posts)

30. Either they inherited it or they're dealing coke on the side

Sun Apr 17, 2016, 12:46 AM

Apr 2016

I always wondered where people in CA came up with that kind of money. They're not all film stars or investment bankers or even lucky SOBs who managed to get in on the ground floor of exactly the right tech startup. Some of them have ordinary jobs and they're shelling out a million bucks for a tract house.

Then again, I know they're back to writing a lot of dodgy mortgage paper, especially in CA. Welcome to the new housing bust turning into an international banking fiasco, same as the old bust and fiasco.

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How the hell do people afford housing? [View all] spinbaby Apr 2016 OP

Borrow money and hope to sell at a higher price JVS Apr 2016 #1

It's been insane for decades. haikugal Apr 2016 #2

Wait... there's a lawnmower channel? Initech Apr 2016 #3

That was my reaction. SMC22307 Apr 2016 #23

Ha ha. Not I say. I think I spend about as much time flipping miyazaki Apr 2016 #42

Exactly. Plus what I usually ended up on were... SMC22307 Apr 2016 #44

You're not missing anything. Initech Apr 2016 #45

Yep. Netflix and PBS are enough for me. (n/t) SMC22307 Apr 2016 #46

Asking myself this question as well flamingdem Apr 2016 #4

Where do people GET this kind of money? LiberalEsto Apr 2016 #5

Small 2br Apt in my area is 12-1400/mo. HooptieWagon Apr 2016 #6

We bought three decades ago spinbaby Apr 2016 #8

I've been in my small house a while. HooptieWagon Apr 2016 #10

No kidding. I couldn't afford the house in Maryland if I had to buy it again. yeoman6987 Apr 2016 #38

Same here; I couldn't afford it on my salary alone. alarimer Apr 2016 #69

house hunters on HGTV edhopper Apr 2016 #7

I love it when two 25-years-olds with a budget of $900,000 Arugula Latte Apr 2016 #11

The kitchen is always edhopper Apr 2016 #15

Yeah!!! Who the hell takes a kitchen out on a date these days? So Far From Heaven Apr 2016 #24

I'd settle for a kitchen that had a stove younger than 31 yrs old Pakhet Apr 2016 #26

So true! Populist_Prole Apr 2016 #59

As someone who grew up in a poor rural area that shit drives me crazy. Odin2005 Apr 2016 #19

The stainless appliances Texasgal Apr 2016 #21

Because they have money to fix it Travis_0004 Apr 2016 #27

I worked in restaurants for too long when I was younger. Mariana Apr 2016 #28

I was thinking the same thing meow2u3 Apr 2016 #49

yes, cookie cutter grasswire Apr 2016 #29

No kidding. yeoman6987 Apr 2016 #39

Yeah that drives me up a wall too Populist_Prole Apr 2016 #58

Hard to say how others do it. 2naSalit Apr 2016 #9

loans JI7 Apr 2016 #12

They may have an inheritance Beaverhausen Apr 2016 #13

Or some people know how to make their money earn money. I turned 3000 bucks underahedgerow Apr 2016 #25

If you hit the real-estate market at the right time CoffeeCat Apr 2016 #31

"By the time the average Joe figures it out, it's too late." SusanCalvin Apr 2016 #34

Timing is everything in real estate. mnhtnbb Apr 2016 #48

Well that's it, isn't it? Staying in front of the game is the hardest part. It takes underahedgerow Apr 2016 #54

"No one gets rich by working from 9-5 and taking a paycheck from someone else." SusanCalvin Apr 2016 #35

But does it make me a sucker for having no desire to become rich? miyazaki Apr 2016 #43

Absolutely not!!!! It's a GOOD thing to not have unrealistic or lofty goals! underahedgerow Apr 2016 #51

Much of what I see on tv leaves me scratching my head Marrah_G Apr 2016 #14

My guess is either the show is completely full of shit, or they have family money. nt ohnoyoudidnt Apr 2016 #16

The most expensive home I ever bought was for $45,000.00 Kaleva Apr 2016 #17

I haven't seen a $35,000.00 house since the 70s. virgogal Apr 2016 #18

That $35,000 house bought in the 70's is probably worth a hundred grand now n/t meow2u3 Apr 2016 #50

We sold a house in 1979 for $50,000.00--we had paid $13,000.00 in 1960 virgogal Apr 2016 #66

WHERE IS THIS? nt SusanCalvin Apr 2016 #33

Upper Michigan Kaleva Apr 2016 #68

The only place I know of that you can find a home like that cheap is Detroit yeoman6987 Apr 2016 #40

I live in Upper Michigan Kaleva Apr 2016 #67

Detroit? I know a family that has few rentals and they live in them there and fix em and keep em Person 2713 Apr 2016 #41

Bubble, bubble, toil and trouble AgerolanAmerican Apr 2016 #20

Toronto, Ontario? Release The Hounds Apr 2016 #22

Either they inherited it or they're dealing coke on the side Warpy Apr 2016 #30

What I've been asking for years. SusanCalvin Apr 2016 #32

We're mortgage free, but... meaculpa2011 Apr 2016 #52

Wow. Oh wow. That's insane. SusanCalvin Apr 2016 #56

Insane it is. I'm just glad... meaculpa2011 Apr 2016 #57

Live beneath their means? Retrograde Apr 2016 #36

Many parts of California that is a reasonable budget to buy a house. Agnosticsherbet Apr 2016 #37

Yep. Teo folks carrying $4000 monthly payment Liberal_in_LA Apr 2016 #65

Half a mil given to them via inheritance, cashing in an annuity, or access to a trust? haele Apr 2016 #47

In lots of places they have to cram multiple roommates into their homes or apartments. silvershadow Apr 2016 #53

Seems a tad high matt819 Apr 2016 #55

They don't. Adrahil Apr 2016 #60

My cousin was on House Hunters. Beaverhausen Apr 2016 #61

I've heard that before from a realtor who was on a tiny house show. nolabear Apr 2016 #71

In answer to your original question: So Far From Heaven Apr 2016 #62

Is the househunt in Canada? Algernon Moncrieff Apr 2016 #63

Los angeles, sf _ avg salaries are higher. Two incomes can carry the mortgage Liberal_in_LA Apr 2016 #64

in my town hfojvt Apr 2016 #70