When I think about the housing market and how I will never afford one with my individual income, I get pretty depressed ngl. I make exactly the median income in my area of LA and even a single bedroom apartment doesn’t make sense financially. Things are quite fucked.
LA has intentionally not built enough housing since the 70s specifically so it’s to expensive for people like you to live here.
It is entirely artificial.
And it’s completely depressing the people that live here choose this path, and got rewarded with insanely overvalued houses.
I live here, and seeing the way people treat housing in this state has made me realize that speculative investment on housing is a scam. I come from the generation after the major speculators, so I’m the one left holding the bag as a native.
I’m scraping to afford an apartment, and I don’t see how my future descendants will do any better. To be fair, in my case I really don’t want anything more than a condo, but it seems like even that will be beyond my reach at the rate that I’m earning.
To be fair, I don’t really want anything more than a condo, but even that modest dream is looking unlikely if I want to stay anywhere within a reasonable distance from where I work.
There is going to be a ballot measure in 2024 to move all zoning control to city levels, specifically to block all new housing.
Unfortunately, voters here like treating housing this way and it’s popular
We need a ballot measure to establish a single statewide zoning code instead
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You’ve just described problems a lot of desirable places suffer from. I live in LA because I work in the film industry, but also because I love this city. Colorado is really nice, though.
We were priced out of LA proper and it seems like it’s getting worse. Would’ve loved to be able to buy near where I grew up.
