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How can I afford a house in California?
It is challenging, despite the Great Recession and its endless recovery summers. Even in
places where prices fell by a third, houses are twice what they cost in Texas.
Housing in the Valley isn't as bad.
You get a house for half as much but get a two hour commute each way in return. Unless
you can telecommute to your job, that's a guaranteed life of a road warrior.
How can I afford a house?
Don't get one of those option adjustable rate mortgages. Too many people bought a house
expecting their incomes to rise or the property value to go up so they could sell it at a
profit, and they hit the dust when interest rates went up or property values went down.
Then there are some good deals on the market now.
If you consider a 300K two bedroom a deal.
A three bedroom house in Silicon Valley is around a million dollars.
That's mostly because all the rich tech guys threw up zoning limits to limit construction,
not caring that it meant no one else could afford to build or buy a home. That's one
reason why people are hating tech employees, for high pay rates AND driving up property
prices.
Gentrification helps a neighborhood.
It's funny how many people say they want to improve a neighborhood and affordable housing
while demanding all new housing be luxury condos. They think a few set-asides for token
poor people make it OK.
Can I get a good deal anywhere in California?
Given the man-made drought in the Valley where farmers aren't allowed to irrigate so water
can wash the smelt out to sea, you could buy a house there literally dirt cheap.
I'd be surrounded by dying almond groves and shanty towns of unemployed migrant workers.
Yeah, but the house in the desert will be scenic in a few years, and it's affordable
now.
Or I could move into one of those micro-apartments they're building in LA.
A master closet in Nevada has more space and lower property taxes.