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lakersken80
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Joined: 12 Aug 2009
Posts: 38775
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 Posted: Thu Sep 21, 2017 2:25 pm Post subject: |
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| The problem is nobody wants to build lower income housing, and if they do the neighborhood flips out because they don't want to live around people who might live in such dwellings. So the result is that most of the new developments are more upscale which only benefits those people who might make upper 5 figures lower 6 figures in income. |
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slavavov
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Joined: 03 Oct 2003
Posts: 8327
Location: Santa Monica
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| Posted: Thu Sep 21, 2017 7:11 pm Post subject: |
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| lakersken80 wrote: | | The problem is nobody wants to build lower income housing, and if they do the neighborhood flips out because they don't want to live around people who might live in such dwellings. So the result is that most of the new developments are more upscale which only benefits those people who might make upper 5 figures lower 6 figures in income. |
Well said. It's these real estate developers buying up properties in working class areas and turning them into attractive high rent residential condos and stuff that are aimed at yuppies who make over $5,000-$6,000 a month. This has been happening in my hometown of Santa Monica since probably the 90s, and in the last few years it's even been happening in Venice, both on the residential and commercial side.
There is no middle class anymore. None. If you live in the L.A. or NYC area, to be "middle class", you have to earn probably at least $100,000 a year if you are raising a family. I've found that "middle class" really means having a little bit of cash flow, like at least a couple hundred bucks left over after paying the bills every month. Seems like almost no one has that going for them. I can see this housing situation eventually forcing families that earn even $50,000 a year or more to live in the hood.
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splashmtn
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Joined: 30 Aug 2016
Posts: 3961
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| Posted: Wed Sep 27, 2017 3:49 pm Post subject: |
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| slavavov wrote: | | lakersken80 wrote: | | The problem is nobody wants to build lower income housing, and if they do the neighborhood flips out because they don't want to live around people who might live in such dwellings. So the result is that most of the new developments are more upscale which only benefits those people who might make upper 5 figures lower 6 figures in income. |
Well said. It's these real estate developers buying up properties in working class areas and turning them into attractive high rent residential condos and stuff that are aimed at yuppies who make over $5,000-$6,000 a month. This has been happening in my hometown of Santa Monica since probably the 90s, and in the last few years it's even been happening in Venice, both on the residential and commercial side.
There is no middle class anymore. None. If you live in the L.A. or NYC area, to be "middle class", you have to earn probably at least $100,000 a year if you are raising a family. I've found that "middle class" really means having a little bit of cash flow, like at least a couple hundred bucks left over after paying the bills every month. Seems like almost no one has that going for them. I can see this housing situation eventually forcing families that earn even $50,000 a year or more to live in the hood. |
50k aint cutting it. not even in the hood as the years go by. what was use to be the so called hood is being gentrified as we speak.
The rent is to high for pretty much everyone not bringing in 200k as a family(or 100k by yourself).
Anything less than that if you didnt purchase you a home say 5+ years ago. You're losing today or you will be losing tomorrow when the rents go up again. |
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nickuku
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Joined: 09 Jul 2010
Posts: 7844
Location: Orange County
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| Posted: Wed Sep 27, 2017 4:02 pm Post subject: |
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2b/2b apartments where I am are about 3000 a month(irvine). Some of the cheaper apartments in neighboring cities still run up to 1200-1300 for a studio.
I guess you could settle for a room but there are privacy and noise issues with that. |
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