Zillowed Compton, CA

They rent?

They've owned them for decades and it surged in value long after they bought them.

I live in a "gentrifying area" in Nashville and houses (tear downs) are going for 400k, which is essentially just for the lot (I didn't pay that, I live in a townhome). That doesn't mean the person who lives there now with bars on their windows paid that much to live there.

Property taxes eventually push them out, unless the state has specific laws protecting those on welfare from property tax increases (which exist some places).



ETA:

This is $360k in my neighborhood (1,400 sq ft)

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50 year mortgages are literally a thing in California.

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CRMLS

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Is this short for criminals?

That shithole is $402 per square foot.

That's wild

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CRMLS


Is this short for criminals?

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no doubt

Welcome to Cali.

My dad just got a spot in Mission Viejo with an average house on a basic arse setup and he'll probably end up paying for it for the rest of his life. He could have moved out here to Tennessee and bought a beautiful house on the lake with a fenced in yard with a view of the mountains for what he's paying back home. It's just not worth it to me anymore. And I say that as someone that's from Los Angeles county and who still has most of their family there.

Edit: And Compton is in the hood. Imagine the affluent or even just "middle class" areas around the city.

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Cheapest houses are going in the low to mid 300,000s with some reaching half a million. All houses look like the neighborhood on Friday.

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California real estate is pretty insane. I actually think there may be a little bit of a bubble in the Los Angeles area and even parts of the inland empire.

If you think that's bad, try San Mateo County.