re: L.A. County, CA Real Estate Bubble - Craig's House From Friday

just looked it up on a map and the house is actually not in Compton but in the West Athens area of LA

That second house could do. $500k? Really?

Here's what $500k gets you around here. 1000 sq ft in a not great part of town.

What 500k gets you in Houston's suburbs:

4,045 sqft. $478,871:

Does it come with a gift card to Applebee’s?

Yeah. That would do. Actually it would be way too much. We’re looking to downsize. We’ll end up moving to Ashburn or the nice part of Prince William County (Haymarket) where we can get more for our money. More not being bigger but much better finishes.

My client just sold her Manhattan studio that is 400 sq ft for over $400,000.

That’s swanky

About like New Orleans. A shite hole in Irish channel will run you about that much.

Blame their insane and stupid building rules in L.A. I also read an article recently that said Los Angeles needed to build 35k MORE homes per year over the past 10 years to keep up with housing prices. Instead they’ve built nothing and are experiencing a crazy amount of housing price increases.

Further, it’s crazy expensive to build new apartment buildings there. I read a post on Reddit that described how every apartment built in L.A. has to have a balcony and at least one parking space thus driving up the amount of square feet each apartment costs.

And Los Angeles is a New York City without the public transit system. It’s like they want to be a typical American city/suburb but crammed 18 million people onto interstates and highways.

quote:

---

But then you have to live in Houston so...

---

And you can look at the pretty ocean while being poor.