California's growing list of 'million-dollar cities'

What were once considered average middle class cities are now turning into million-dollar neighborhoods. Hetty Chang reports for the NBC4 News on April 23, 2024.

[michaelfincham]

Bought my house in Redondo beach, Ca. 2 blocks from the beach in the 90s $135, 000 2 million now. If I sell it, I can't get a house of the same size anywhere in the area. My kids had to leave the state to find an affordable home to buy. It's crazy that our children can't afford homes on regular jobs. Like we could. When I bought this house, I was a shipping and receiving manager. Not big money at the time. But enough to afford a home in what is now a upper class naborhood. Crazy. And very sad.

[twczzkm]

He wants a pool, jacuzzi, waterfall, big back yard, but if he's all in a 1.5 mil, he'll be so strapped that stress will eventually creep up on the marriage and could lead to a divorce. All those requests come with high maintenance cost, not worth the stress if you can't comfortably afford it.

[wmtrader]

My father bought his house in San Jose for $65, 000 in 1974 and it is now worth $1, 500, 000 (3-bedroom, 2-bathroom, 2 car garage) $65, 000 in 1974 is the same as $435, 656 in 2024 when adjusted for inflation. In 1983 he bought a new house in Fremont for $250, 000 and it is now worth $1, 900, 000 (4-bedroom, 2-bathroom, 2 car garage) $250, 000 in 1983 is the same as $740, 123 in 2024 when adjusted for inflation.

[donaldkasper]

Yeah, pay what you cannot afford because you demand amenities, then the bills come in and you get divorced.

[lucristianx]

This is a crime being perpetrated against Americans.

[tfustudios]

And all of this is deliberate. Higher priced homes mean higher property tax base!

[hellomoto]

Greedy realtors are buying the homes and flipping them. Putting them back out on the market for 150k-200k profit.

[loydbrush]

Well here’s the thing.. people are stupid enough to pay these prices. I own 3 bedroom, 2 bath home in CA… paid $350k 3 years ago. I know cost of homes have gone up but it’s because people agree to pay the ridiculous prices.

[AdmiralFroggy]

California has no incentive to help lower prices. The higher prices means more tax revenue

[jeff]

There is no doubt that the home price is just crazy. However, my recommendation is to buy the house you can afford to pay and you see yourself to live there for 10 years. Don't worry about the school district, big pool, all the nice stuff. The sooner you get your first house, the sooner you will get your 2nd one. I got my first house at 25 by myself and purchased 2nd one with my wife at 35. Just keep in mind to go for the fixed interest loan, then you will be okay

[itbeme]

The more you pay the more taxes you will have to pay. Your not winning your losing.

[JayarFlores]

My home in Southern California in the Coachella Valley cost around 460k in 2019 and is now worth nearly 1.1 million. I need to figure out how? People are moving to the desert from larger cities and settling down here, increasing the cost of housing and everything is doubling up.

[junkboxxxxxx]

She is thinking "I married the wrong guy"
He is thinking "This is what I must pay to keep her.... in Tustin...."

[JM]

Bought my home is San Diego for $436, 000 a little over three years ago. Now it's worth $700, 000.

[Just_Johnnie]

A lot of money is coming from overseas.

[Bestoftherest]

buy what you can afford, not your dream home. Most people with dream homes are in their late 50s and the started small too

[devengudinas]

You can go ahead and thank vanguard and black rock for some of this. And the higher interest rates.

[gabriellelee]

$450 for HOA is ridiculous on top of the mortgage. Wouldn't feel like a home with these fees & HOA rules. Don't buy. Keep saving & investing for the future. Live simply. 😊

[milkoluna]

This is why I moved out of the USA. I currently live in Spain and able to afford an apartment but I've got more purchasing power.

[mangodiet]

Not worth, don't buy it. The only winning move is not to play, you can retire easily and live overseas with that money