Quantcast

25% of Californians want to move

  • Come enter the Ridemonkey Secret Santa!

    We're kicking off the 2024 Secret Santa! Exchange gifts with other monkeys - from beer and snacks, to bike gear, to custom machined holiday decorations and tools by our more talented members, there's something for everyone.

    Click here for details and to learn how to participate.

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
I can't believe the housing and fuel costs out there... :eek:!

Housing costs have Californians ready to bolt
Leaving state becomes more enticing, survey finds
By Lori Weisberg
UNION-TRIBUNE STAFF WRITER
November 18, 2004


One in four Californians say they would seriously consider pulling up stakes because of high housing prices, according to a statewide survey released today.

While the vast majority of residents say they are pleased with their neighborhoods, 24 percent said the cost of their housing has reached a point where they would consider moving. More than half of those said they would leave the state.

In San Diego and Orange counties, that sentiment is even stronger, with 29 percent indicating a strong interest in moving; two-thirds of the willing movers said their choice would be to relocate outside California.

"The smart ones are selling and moving up or out," said Pacific Beach retiree George Tully, who was among those interviewed for the housing survey.

While there has been no shortage of stories about the growing number of real estate refugees exiting the state for more affordable regions, this latest survey puts a statistical face on the increasing uneasiness about the steep cost of housing.

The poll, which was conducted by the San Francisco-based Public Policy Institute of California, queried 2,502 Californians last month on housing issues. Collaborating on the telephone survey were The William and Flora Hewlett, The James Irvine and The David and Lucile Packard foundations.

The responses from renters as well as homeowners sends a clear message: The high cost of housing is making California a less-desirable place to live.

"That is a significant number (24 percent) we found for people saying they'd move outside of their region or outside the state," survey director Mark Baldassare said. "While the housing market has benefited a lot of homeowners, it's put a lot of doubts in renters as to whether they'll ever be able to own a home. And for homeowners, it's a question of whether they'll be able to find a home and neighborhood they'd like to live in."

Read the rest: http://www.signonsandiego.com/news/state/20041118-9999-1n18housing.html
 

-BB-

I broke all the rules, but somehow still became mo
Sep 6, 2001
4,254
28
Livin it up in the O.C.
Being an OC resident myself, I' can tell you that of the 27% that say they want to move, most won't. They just like to b1tch about it.
 

reflux

Turbo Monkey
Mar 18, 2002
4,617
2
G14 Classified
I agree with this entirely, but let me say something. History has shown that real estate has typically done very well when the stock market has suffered. My feelings are that the real estate market will start (continue, depending on who you talk to) to slow due to the increasing interest rates from the Fed and rising deficit. Does anyone remember the housing slump in OC? Was it in the late 80's that the housing market dropped and was probably the worst investment imaginable in OC? Granted it was from an oversupply, which probably won't happen again, but nobody ever seems to remember or believe me when I mention it.


And yeah, I wouldn't mind moving out of state or out of the country.
 

Ciaran

Fear my banana
Apr 5, 2004
9,841
19
So Cal
Damn True said:
I love CA.
But it is killing me financially to live here.
Same here. The GF (soon to be wife) and I are saving and have changed our long term plans to move ourselves north. We just can't afford to live here. Northern CA., Oregon or Washington is where we are looking to go.
 

-BB-

I broke all the rules, but somehow still became mo
Sep 6, 2001
4,254
28
Livin it up in the O.C.
reflux said:
I agree with this entirely, but let me say something. History has shown that real estate has typically done very well when the stock market has suffered. My feelings are that the real estate market will start (continue, depending on who you talk to) to slow due to the increasing interest rates from the Fed and rising deficit. Does anyone remember the housing slump in OC? Was it in the late 80's that the housing market dropped and was probably the worst investment imaginable in OC? Granted it was from an oversupply, which probably won't happen again, but nobody ever seems to remember or believe me when I mention it.


And yeah, I wouldn't mind moving out of state or out of the country.

Yeah... but all you have to do is wait it out a few years and you are back in business.
 

Slugman

Frankenbike
Apr 29, 2004
4,024
0
Miami, FL
I just got a notice that they are raising my rent... they now want $1600/ month for a 680ish Sq foot single bedroom apt.

I moved here from New England so it's not like I was totally shocked at the prices, but that is just silly.
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,658
65
behind the viewfinder
Ridemonkey said:
That 25% are ALL moving to Bend Oregon.
i first when out to bend in '96 or so, and couldn't believe the amount of development which occurred by the time i went back in '99 or so. it must be crazier now. all those damn californian and coloradans moving in, eh?
 

Brian HCM#1

MMMMMMMMM MAGA!!!!!!!!!!
Sep 7, 2001
32,224
381
Bay Area, California
Prices are scary, but I don't want to leave. Look at it this way, once you get into a house in CA, you'll make some good money when you're ready to turn it. You can't really say that for most of the other states. You buy in CA to have shelter and make an investment, you buy in other states to have a shelter.
 

reflux

Turbo Monkey
Mar 18, 2002
4,617
2
G14 Classified
-BB- said:
Yeah... but all you have to do is wait it out a few years and you are back in business.
True true. What I'm waiting for are those people who bought a too-expensive house on a variable rate, interest only payment for 2-5 years home loans. I've read some articles and crap online and in the newspaper that housing costs are already more than 50% of some owners' incomes. 50%+! What's going to happen when the payments go up?

I don't know of any rivers, but do you know of any vans that are large enough to live in?

Where's a good place to move back east? New England?
 

W4S

Turbo Monkey
Mar 2, 2004
1,282
23
Back in Hell A, b1thces
Slugman said:
I just got a notice that they are raising my rent... they now want $1600/ month for a 680ish Sq foot single bedroom apt.

I moved here from New England so it's not like I was totally shocked at the prices, but that is just silly.
Damn, where do you live? I live in Aliso and am paying 1540 for a 2 bedroom w/ garage.


I've read that OC population growth is supposed to reach an additional 10 MILLION people by 2020!!! wtf?
 

Slugman

Frankenbike
Apr 29, 2004
4,024
0
Miami, FL
Brian HCM#1 said:
Prices are scary, but I don't want to leave. Look at it this way, once you get into a house in CA, you'll make some good money when you're ready to turn it. You can't really say that for most of the other states. You buy in CA to have shelter and make an investment, you buy in other states to have a shelter.
There is the other problem... find a decent place for under $500K! Cheaper places are really far away from everything. Besides saving up for it is hard when renting is ridiculous, gas is $2.20+, and it cost me more for California Avocados in Irvine than it did in Providence, RI!

I should have bought a place in Providence when I moved there in '99, duplex for $140K. 4 years later (just before i moved here) those homes were going for $350K - $500K. Talk about missing a golden opportunity!!! :angry:
 

Slugman

Frankenbike
Apr 29, 2004
4,024
0
Miami, FL
W4S said:
Damn, where do you live? I live in Aliso and am paying 1540 for a 2 bedroom w/ garage.


I've read that OC population growth is supposed to reach an additional 10 MILLION people by 2020!!! wtf?
I'm in Irvine - which we love (10 min to Laguna Beach, right by the 5 and 405), but we're seriously considering getting out - but I really do not want to move AGAIN (we move like every year or so...)

I do not plan to be here in 2020... or even 2010. We'll be either in the Seattle area, Miami or New York by then.
 

W4S

Turbo Monkey
Mar 2, 2004
1,282
23
Back in Hell A, b1thces
Brian HCM#1 said:
You buy in CA to have shelter and make an investment, you buy in other states to have a shelter.

True. My parent bought in OC in '86 for about 250K, same place is worth almost 1million now. I'm ready to move now, but every where else I'm willing to move is almost as expensive. The grass is always greener....
 

Brian HCM#1

MMMMMMMMM MAGA!!!!!!!!!!
Sep 7, 2001
32,224
381
Bay Area, California
Slugman said:
I'm in Irvine - which we love (10 min to Laguna Beach, right by the 5 and 405), but we're seriously considering getting out - but I really do not want to move AGAIN (we move like every year or so...)

I do not plan to be here in 2020... or even 2010. We'll be either in the Seattle area, Miami or New York by then.
If you move, you might as well say goodbye to CA forever, most of the people who move out of state can never afford to move back again.
 

lovebunny

can i lick your balls?
Dec 14, 2003
7,317
245
San Diego, California, United States
yeah we live by the beach in a lil crappy house w/ a beutiful view of san diego bay. and this house is 850 sq ft and it smells like dog crap. and its worth 600k. now that were renovating it its gonna be worth about 900k-1m. gas is insane though. 2.27s the cheapest ive seen here
 

Slugman

Frankenbike
Apr 29, 2004
4,024
0
Miami, FL
Brian HCM#1 said:
If you move, you might as well say goodbye to CA forever, most of the people who move out of state can never afford to move back again.
The plan is to buy something here, and keep it as an investment property. So we'd move - but have a place for later on in life (theoretically)...
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,658
65
behind the viewfinder
Slugman said:
The plan is to buy something here, and keep it as an investment property. So we'd move - but have a place for later on in life (theoretically)...
problem w/ that scenario is coughing up the down payment for a house somewhere else, unless you live in east cupcake or louisiana.
 

Slugman

Frankenbike
Apr 29, 2004
4,024
0
Miami, FL
narlus said:
problem w/ that scenario is coughing up the down payment for a house somewhere else, unless you live in east cupcake or louisiana.
When we do Miami, we have an "in" since her folks are real-estate brokers. They'll get us a great deal on a home, lower rates, and we won't pay any fees or closing cost. We’ll go there when we decide to have kids, since both sets of parents are in the area (grandparents = baby sitters!).

NY will be for her career, and it would mean that she has hit it big time so the cost would not be prohibitive. In fact she would be making enough for both of us… more biking time for me!

Seattle is just somewhere we both love and think it might be fun for a while - maybe later on in life before we retire back to SoCal...

When we move it will be only after the start-up that I'm at has been bought (think only positive thoughts :thumb: ), and my wife advances in her career.

That and I bought a lottery ticket... :D
 

-BB-

I broke all the rules, but somehow still became mo
Sep 6, 2001
4,254
28
Livin it up in the O.C.
reflux said:
True true. What I'm waiting for are those people who bought a too-expensive house on a variable rate, interest only payment for 2-5 years home loans. I've read some articles and crap online and in the newspaper that housing costs are already more than 50% of some owners' incomes. 50%+! What's going to happen when the payments go up?

I don't know of any rivers, but do you know of any vans that are large enough to live in?

Where's a good place to move back east? New England?
Sho nuff...
That's why my wife and I were willing to pay a point more to get a 30yr fixed.
 

-BB-

I broke all the rules, but somehow still became mo
Sep 6, 2001
4,254
28
Livin it up in the O.C.
W4S said:
Damn, where do you live? I live in Aliso and am paying 1540 for a 2 bedroom w/ garage.


I've read that OC population growth is supposed to reach an additional 10 MILLION people by 2020!!! wtf?

Our mortgage isn't muck more than that.

Back in SF, my wife and I were paying over $2100/mo in rent.
 

-BB-

I broke all the rules, but somehow still became mo
Sep 6, 2001
4,254
28
Livin it up in the O.C.
Slugman said:
I'm in Irvine - which we love (10 min to Laguna Beach, right by the 5 and 405), but we're seriously considering getting out - but I really do not want to move AGAIN (we move like every year or so...)

I do not plan to be here in 2020... or even 2010. We'll be either in the Seattle area, Miami or New York by then.

Really?
Cool!!
I live right off of Bake and Irvine Center.
 

Ciaran

Fear my banana
Apr 5, 2004
9,841
19
So Cal
bhspec03 said:
yeah we live by the beach in a lil crappy house w/ a beutiful view of san diego bay. and this house is 850 sq ft and it smells like dog crap. and its worth 600k. now that were renovating it its gonna be worth about 900k-1m. gas is insane though. 2.27s the cheapest ive seen here
Whereabouts are you? My GF's parents live in a beach house in Ocean Beach. They are planning an addition to the house and have been dealing with the Coastal Commission for like two + years. Total pain in the butt.

My plan is to marry her then off the rents, and inherit the beach house. :devil: Muahahaha!
 

Atomic Dog

doesn't have a custom title yet.
Oct 22, 2002
1,310
1,491
In the basement at Weekly World News
Slugman said:
I just got a notice that they are raising my rent... they now want $1600/ month for a 680ish Sq foot single bedroom apt.

I moved here from New England so it's not like I was totally shocked at the prices, but that is just silly.
Holy crap! My mortgage payment for a 1000sf house and insurance payment for two cars and a motorcycle come to less than half that!
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
So what's going to happen when the interest rates got up to 7-8% (which is gonna happen within the next 24 months?

No one is going to be able to afford anything... then folks will be forced to sell at a greatly reduced rate just to get out from under their notes...

Remember the CA market in the early 90's... :dead:
 

Brian HCM#1

MMMMMMMMM MAGA!!!!!!!!!!
Sep 7, 2001
32,224
381
Bay Area, California
-BB- said:
Sho nuff...
That's why my wife and I were willing to pay a point more to get a 30yr fixed.
Me too on the 30 yr fix, we also did the same loan for our Tahoe place. I like being secure and not have to worry about my payments going up.:eek:
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
Brian HCM#1 said:
Me too on the 30 yr fix, we also did the same loan for our Tahoe place. I like being secure and not have to worry about my payments going up.:eek:

And at today's current rate of 5.5-ish% for a 30 year note, that's a great deal!
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,658
65
behind the viewfinder
Brian HCM#1 said:
Me too on the 30 yr fix, we also did the same loan for our Tahoe place. I like being secure and not have to worry about my payments going up.:eek:
when we bought our 1st condo we did a 1 yr adjustable, w/ a 2% max increase per year (had a super low rate, somethingl like 1.5% to start). it worked out in our favor because the rates didn't go up all that much and we figured we would only be in it for about 3-4 years, and we were out in that time.

but we've got the 30 yr fixed now, which has been re-financed a couple times. still sucks to have the 30 yr commitment, though, even though we've increased equity quite a bit. :think:
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
narlus said:
when we bought our 1st condo we did a 1 yr adjustable, w/ a 2% max increase per year (had a super low rate, somethingl like 1.5% to start). it worked out in our favor because the rates didn't go up all that much and we figured we would only be in it for about 3-4 years, and we were out in that time.

but we've got the 30 yr fixed now, which has been re-financed a couple times. still sucks to have the 30 yr commitment, though, even though we've increased equity quite a bit. :think:

If you can afford it, pay your monthly note like it's a 15 year note... except those months when you can't swing it.
 

narlus

Eastcoast Softcore
Staff member
Nov 7, 2001
24,658
65
behind the viewfinder
yeah, we've done that. i agree it works well, but when you re-finance yr back to 30, even though the amount of the loan is smaller. more of a psychological thing. hell, i'm 38 now...
 

N8 v2.0

Not the sharpest tool in the shed
Oct 18, 2002
11,003
149
The Cleft of Venus
narlus said:
yeah, we've done that. i agree it works well, but when you re-finance yr back to 30, even though the amount of the loan is smaller. more of a psychological thing. hell, i'm 38 now...

Odds are pretty good that you be moving a couple more times in your lifetime.
 

JSB

Monkey
Apr 8, 2004
383
0
Flower Mound, Texas
What's crazy is a friend of mine move to Calif. and he told me they approved him for something close to $500k. But here there is no way he would have been approved for that. What are they doing different out there. I don't get it.