I just moved back ro FL from San Fran. I can't believe how much money i am saving on a monthly basis by being here. Cali is just out of control when it comes to rent. Sure it is the most beautiful place in this country, but I knew people who made twice as much as me, and still could not afford a decent home. I am getting ready to close on a townhome for 1/5 the price in Cali. That is just sad. Can anyone in Cali really afford the american dream anymore??
2006-08-12 10:42:08 · 8 answers · asked by O Jam 3 in Social Science ➔ Economics
Because lots of people want to live there. Same reason why New York is so expensive. I live in NJ and it's crazy how much the prices for houses went up in the last ten years. An average condo in central Jersey is 250 grand. A little house is $300,000. live in a midsized house and I could sell it for $400,000. That's 4 times as much as my parents paid, which was approx 20 years ago. That wierd thing is that the property tax bill says that my house is only worth $125,000.
2006-08-12 15:46:28 · answer #1 · answered by unaforce65 2 · 0⤊ 0⤋
What an underestimation! I stay 80 5 miles northwest of downtown la, and that i pay $1200 for a 2 bedroom, a million a million/2 bathtub. an similar abode in a good element of la could really run two times that, no longer which contains utilities. for sure, in case you flow on the point of the sea coast, try 3 to 4 situations that volume. those quantities are merely for lease. vehicle insurance is large-intense and far more effective intense priced than contained in the Carolinas. that's in straightforward words scratching the exterior.
2016-11-24 22:04:55 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Supply and demand. Big demand for land - especially near the ocean, and a very limited supply = high prices. As long as people are willing to pay, the prices will remain high.
2006-08-12 10:49:25 · answer #3 · answered by Steve 6 · 0⤊ 0⤋
1st There is a real estate bubble especially in the bay area. (But that doesn't make the difference)
2nd California is a big ecconomy and there are lots of people who can afford the rates.
3rd There is a big demand to live there. 1st rule of real estate location location location.
2006-08-12 17:35:50 · answer #4 · answered by anonomous 3 · 1⤊ 0⤋
Nope, I left there in 1987 and am still homesick for it. But, unless I win some huge dollars, I can never afford to go back. Montana is cheaper - colder, but cheaper!
2006-08-12 11:42:04 · answer #5 · answered by chris 5 · 0⤊ 0⤋
Of course they can. A lot of people from Bay Area are moving to Sacramento for this very reason.
2006-08-12 11:44:59 · answer #6 · answered by NC 7 · 0⤊ 0⤋
Property taxes, people on welfare, Corporations not paying the same taxes as everybody else
2006-08-12 12:41:06 · answer #7 · answered by Pablo W 1 · 0⤊ 0⤋
cause it has hollywood in it! i live in the calif. high desert my rent is cheap but its getting homes built more and more so yeah its gonna be expensive city too.
2006-08-12 15:24:27 · answer #8 · answered by lizardlover42000 4 · 0⤊ 0⤋