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If you own a home....

Discussion in 'Sports and News' started by poindexter, Feb 11, 2008.

  1. Tom Petty

    Tom Petty Guest

    yes, we get it. supply and demand doesn't apply to your LA.
     
  2. fishwrapper

    fishwrapper Active Member

    Santa Clarita isn't a good paradigm to judge greater Los Angeles. Medium income is well over $100k. (Some zipcodes over $125k).
    The problematic -- as far as foreclosures -- eastern corridor is a better study.
     
  3. Tom Petty

    Tom Petty Guest

    i was being sarcastic.
     
  4. poindexter

    poindexter Well-Known Member

    Santa Clarita has a median (not medium) income of $75,917 according to
    http://en.wikipedia.org/wiki/Santa_Clarita,_California

    These links have the median income nowhere near 100k
    http://money.cnn.com/magazines/moneymag/bplive/2006/snapshots/PL0669088.html
    http://www.simplyhired.com/a/local-jobs/city/l-Santa+Clarita,+CA
    http://www.city-data.com/city/Santa-Clarita-California.html
     
  5. fishwrapper

    fishwrapper Active Member

    Well, I'm going to be careful here. But, you're wrong.
    Santa Clarita is a weird division of communites. It is a large city, with many smaller ones within it.
    The data you're looking at includes all unincorporated portions of the valley. But, city central and, more importantly, the areas rpm is speaking about (Stevenson Ranch, West Ranch, Valencia, Saugus) is where strong home ownership occurs. Established and growing community.

    Here is one random zipcode pulled from the area.
    Income nearly at 100k in 2005. And rpm will tell your how many million-dollar homes have been built since 2005.

    http://www.city-data.com/zips/91354.html

    But, thanks for your help and cut and paste knowledge.
     
  6. poindexter

    poindexter Well-Known Member

    http://www.city-data.com/zips/91354.html
    I checked all the links. Not one had a "medium" income of 100k. Not 100k, not "well over $100k". Therefore, nothing over $125 either.
     
  7. fishwrapper

    fishwrapper Active Member

    Do I know you? Because, it seems, if I ever post on a thread in which you post, it's your mission to make a point of me.

    The zipcode I took, the one for Valencia City Hall, had a median income over $97k in 2005.
    That was one Google search. That is hardly the most affluent area of the Valley.

    http://realestate.yahoo.com/California/Stevenson_Ranch/neighborhoods

    No data for new communities West Ranch and Tesoro.
     
  8. poindexter

    poindexter Well-Known Member

    So fishwrap and rpm, there is a link for the million dollar median home in Stevenson Ranch.

    What do you think the median price will be in Stevenson Ranch when the carnage is complete, and the housing prices hit their lows?
     
  9. fishwrapper

    fishwrapper Active Member

    I don't think you understand. I'm not trying to prove you wrong.
    Of course home values have slipped...fallen...crashed in some cases. My home isn't worth what it was two years ago. That's a factor of economy, real estate, mortgage trends, lending practices, building practices and, yes, even renting practices.
    I'm not refuting you. I actually agree with you. I just believe, in Southern California, there are better areas of focus we could examine when looking at the real estate crisis. And the eastern corridor is such an area. And the foreclosure data backs that up.
    We all know there isn't an answer. And others from various parts of the country have little sympathy for people in trouble in a real estate market that sees a 1,500 square-foot, three-bedroom home with no yard sell for $500-600k.
    But, what the rest of the county doesn't realize, especially on this board, is employment.
    1) Not everyone is a journalist.
    2) There are high-paying jobs and professions in Southern California.
    Both are susceptible to trends and adjustments.
     
  10. poindexter

    poindexter Well-Known Member

    Well, that didn't take long.
    DR Horton is offering up to 50% off of their new homes in 23 neighborhoods in SoCal. Many in Riverside county.
    http://www.prnewswire.com/cgi-bin/stories.pl?ACCT=104&STORY=/www/story/02-08-2008/0004752623&EDATE=

    http://drhortonunauction.com/

    Like I said, they aren't going to sit there unsold. Prices will come down until they are sold.
     
  11. buckweaver

    buckweaver Active Member

    Unfortunately, only two of those 23 neighborhoods are even remotely close to civilization: the townhomes and detached condos in Chino. Or you can go up and down the hill every day, living in Victorville or Adelanto.

    Otherwise, you've got neighborhoods in:
    Bakersfield (2)
    Oxnard
    Desert Hot Springs (2)
    Indio (5!)
    Murrieta (3)
    Palm Desert
    Temecula (3)
    Heber
    and Imperial

    Nothing else in civilized S.B. County, like all the developments in Fontana, Ontario and Rancho. Nothing else in civilized Riverside County, near Norco, Corona or Riverside. Nothing close to O.C. or downtown L.A., unless you consider Oxnard close. Nothing in the San Gabriel Valley.

    The "UnAuction" sounds nice and all. But it doesn't do much to help aspiring homeowners with decent jobs, who are generally located in the areas I listed, not the areas where DR Horton is offering houses at 50 percent off.
     
  12. poindexter

    poindexter Well-Known Member

    "Civilized S.B. county" - Is that an oxymoron? (just a joke)
     
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