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comment by insomniasexx
insomniasexx  ·  1222 days ago  ·  link  ·    ·  parent  ·  post: NY Times calculator: better to rent or buy a house?

Yeah. The condo I currently live in (2bd, 2bth, 1200sq ft, 1st floor, east side of the building) is 750k with $495 HOAs. The top floor, west facing, sunset view 2/2 lofts are just under a million. Fun fact about the lofts—they have balconies but no doors to those balconies for some (permitting?) reason so the owners climb through the window to enjoy their ocean view. Luckily, my roommate bought this place in '08 for 450k. That's a nice little ROI.

We don't have a pool and the rotting balcony repairs are a cost to the owner. Not sure where 36,000/month is going to. Maybe the single maid who mops the hallways and takes out the mailroom trash once a week is making bank?

The housing prices are ridiculous here. There's no doubt about it. Anywhere else would be so much better. But the reality is, we can't move out of the area yet. And paying 3k/month to rent a shitty house in "East South Bay" (Carson) or "10 Minutes from Redondo Beach Pier" (Lawndale), or "central location - beach breezes and close to freeway" (Hawthorne) or "Palos Verdes Adjacent" (San Pedro) or "East Westchester" (IngleWOOOOOOD) is silly when you can buy at that same price. (Yes, those are actually what craigslist people call their areas).

I think Playa / Westchester / Palms / Culver have been hit with the "Silicon Beach" thing the most. I just saw that fucking new apt/condo building on Lincoln with the massive "NOW RENTING: SILICON BEACH" sign. Silly silly silly.

Your building is nice, but no pets (at least for renters?) and the 1bd/1bth was like $2750 and didn't even have a door to the bedroom! Plus, holy hell does the number system ever start making sense? Why are there letters?!??!?!?!?!?!

As you know, I grew up in Manhattan Beach. My dad bought the house in the mid-80s and didn't even look at the house - he only looked at the garage...which had two garage doors so you could drive into the backyard. He was into hot rods back then. My street is one of the last remaining streets in the area that has lots that haven't been split to 1/32 of an acre. My parents and the neighbors go to city council meetings EVERY. SINGLE. FUCKING. MONTH. for as long as I can remember to prevent the people buying the lots as the owners die from splitting them.

Instead of...you know...keeping a fucking backyard...the houses that have been built are massive, .4 acre houses on .5 acre lots. .9 acre houses on 1 acre lots. People like Vince Vaughn live there now. You know who lived there before? A 90 year old guy who trekked up the massive hill walking his poodle every single day at 7:30am and would say hello to us every single day at 7:36am when we were leaving for school. I remember the day the poodle died because he suddenly didn't have his poodle. My dad walked down with him to help him bury it in the backyard. We came by after school for a little funeral. Before retiring at 65 years old, he worked a normal job, had a normal family (and like 80 grandkids), played tennis in his free time, and enjoyed tending to his lemon grove and walking his poodle. His wife was mid-level HR at TRW/Northrop. People used to be normal!

I was 12 when he died and 14 when the 3bd, 1bath, 1200 sqft house he raised three kids in with 60 years of lemon trees was scraped. Here's the house now. It has two staircases and a bathroom larger than my apartment in New York. I was a little rebellious skateboarder when that house was being built. We used to hide and drink in the massive wine cellar and fuck on the single-slab-of-granite kitchen counter that extends all the way from the massive indoor bar, through a window, into an indoor/outdoor grill / bar / entertainment area, and didn't see the transformation from "people who worked hard as fuck and have become successful enough to own a house that they bought for under 400k" to "people who have so much money they can buy a $17m vacation home that they live in 5% of the year".

Now I'm depressed.




kleinbl00  ·  1222 days ago  ·  link  ·  

WOW. That house. Yeah, I feel you, dawg. Stupid thing is somebody pocketed a million dollars living there for two years. That's irrational exuberance if ever there was any...

Our building is a hive. It was probably one of the last pieces of decent architecture in Southern California but that was like '77. The hallways are something out of The Shining and the balconies are all falling over because the official state flower of California is dry rot. And again: 550 units x $495/mo = $270k for maintenance and where the hell does it go? Landscaping I guess. By the way, the numbers? X(n1)(n2)(n3)(n4), X being the building designator, (n1) being the floor, (n2)(n3)(n4) being unique. There's only one 3124, despite 12 buildings, but that building has a 3124, a 2124 and a 1124. I think they do it for the mailman.

Badged for "Palos Verdes adjacent."

By the way - your neighborhood is never going to be cheap ever again.

insomniasexx  ·  1220 days ago  ·  link  ·  

Thank you LATimes for answering a question everyone already knew the answer to.

What can you buy for under 400k in LA?

Not much, and not in an area anyone actually wants to live in.

kleinbl00  ·  1220 days ago  ·  link  ·  

    Corrugated metal siding and colorful hues keep the eye moving at this 516-square-foot bungalow, originally built in 1907

LOL. "Live in this 500 square foot hovel and pretend you're in a Sao Paolo favela for only $430k!"