Los Angeles booming creative class lures new yorkers. Does this settle LA> NYC

^^^^Don't get me wrong, the areas are fine in those cities and even in Marin County. Not everyone is bound for city life or even areas with such cultural differences. Some people just want the house with the picket fence and what not. Marine is almost like a different world than any other place in the Bay. But what makes the Bay Area good is how small it is in the sense of commuting. You can live in places in say Richmond and still enjoy all the fun things in SF without having to pay the high rent cost. LA with their traffic size just seems like such an effort.
 
BlackIntellect said:
 
Yeah I was in Hollywood 
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@ claiming L.A. is culturally vapid after posting up in Hollywood. This is a perfect example of why people should never speak on a place they haven't thoroughly explored.
 
I like LA a lot. The whole vibe and scene there is dope. Really wanna go out there and again soon. I live in the east btw
 
Mr Fongstarr said:
^^^^Don't get me wrong, the areas are fine in those cities and even in Marin County. Not everyone is bound for city life or even areas with such cultural differences. Some people just want the house with the picket fence and what not. Marine is almost like a different world than any other place in the Bay. But what makes the Bay Area good is how small it is in the sense of commuting. You can live in places in say Richmond and still enjoy all the fun things in SF without having to pay the high rent cost. LA with their traffic size just seems like such an effort.
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I really don't get how ppl like those stale places and don't think I'll ever get it, seems to 50s isn to me with the old american dream of the white picket fence or what not.  It's all about being in the city center or as close to it as possible in this day and age imo
 
^^^^The way I put it is if you have never lived in the city, than you'll never know the difference in not living there. Buy if you started living in the city originally, than you'll never want to move out. Plus a lot of people, especially my parents generation, do not believe in rent and would only pay own property. Part of living in the city is the sacrifice that you will have to pay higher rent for probably way smaller than you can get outside of it. Some people just don't think that is a good return. Plus in order to live that city life, you have to spend money to experience it and I think a lot of people living outside of the city just need that once a week or even once a month. But as you can see, the new generation could care less to own houses. Everyone wants to live in the current and think about the future later which is exactly how millennials are.
 
and houston ^

but people from LA are coming here just as much. 

and crazy ammounts of people are moving from Cali to Austin
 
Antidope said:
100k isn't even a lot of money. It's basically what 75k was six years ago.
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depends on how you're looking at it but in terms of most Americans $100k is a lot of money, its almost top 10% household income in the country.  If you're in SF and NYC where you're around a lot of techies and bankers where most of them make more than $100k than it can seem like it's not a lot
 
BeezyGotSole said:
In TX and ATL 100K is taking you far. I'm well aware that it's not a lot of money in high cost of living areas.
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In ATL you can do anything you want besides move to Buckhead/Midtown with a 50k salary, 300 dollar car note, and 300 bucks in student loans payments. Even then you could move just about anywhere just realize you will be renting and you may have to live in a 1 bed room.
 
To each his own but it really isn't a lot I'm sorry. Even in a place like Atlanta (lived there for 8 years) where things are cheaper than other places I'm not considering that to be a lot. It just isn't
 
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BeezyGotSole said:
Lol right, not even close I'm choosing 100K in TX or ATL over Cali. For me to move to Cali I'd want at least 150K+.
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I said it before, Cali and NYC companies stay swindling out of state job applicants who get wowed by the offer of a 80-110k salary which translates into a 45-60k salary in those cities.

Even then 45-60k is not a bad salary for a single person, but it has to suck knowing that 80-110k can take you further in 95% of the cities in this nation.
 
LuckyLuchiano said:
In ATL you can do anything you want besides move to Buckhead/Midtown with a 50k salary, 300 dollar car note, and 300 bucks in student loans payments. Even then you could move just about anywhere just realize you will be renting and you may have to live in a 1 bed room.
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I saw everybody riding clean in buckhead last time I went down to ATL.

Yup people see they are close to 6 figures but don't take into account the much higher COL.

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 this man @Antidope  bout to hurt a lot of people's feeling saying 100K isn't alot even in the south.
 
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Seriously if u not from here stay the **** out we don't want you. Traffic is bad enough as it is. Stay where u are. Nothing to see here.
 
BeezyGotSole said:
In TX and ATL 100K is taking you far. I'm well aware that it's not a lot of money in high cost of living areas.
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This is changing quickly in Dallas.

Runaway North Texas home prices spark fears of another price bubble
By STEVE BROWN Follow @SteveBrownDMN stevebrown@dallasnews.com
Real Estate Editor
Published: 09 June 2015 08:24 PM
Updated: 09 June 2015 09:55 PM
With Dallas-Fort Worth home prices at the highest point ever, don’t be surprised if you hear more chatter about the potential for a housing bubble.

But analysts are less sure that is what’s going on.

North Texas home prices jumped by 14 percent in May, one of the largest year-over-year gains on record for the area. The number of sales set a record, too.

Median home sales prices were at a record $215,000 last month for preowned single-family homes sold by real estate agents.

Home prices in the area have shot up by more than 40 percent during the last five years, thanks to record economic growth in the region and a historic shortage of properties to purchase.

The spike in home costs was caused by true housing demand — not speculation. Still, the unprecedented price gains are bound to make consumers worry and spawn fears of another home price bubble.

Overheated home prices in many Western and East Coast U.S. markets are credited with kicking off the recession, which caused nationwide home price declines.

“I don’t know if what you are seeing now can be defined as a bubble,” said Dr. James Gaines, an economist with the Real Estate Center of North Texas. “But if you have an extended period of time of double-digit price increases, you are creating a potential problem in the future.

“That doesn’t mean next year prices will turn around and collapse,” Gaines said. “But at some time it has to catch up to the market.”

While some national analysts are already saying Texas’ home prices are overvalued, they have been shy about forecasting a price crash.

A significant increase in mortgage rates or sharp decline in employment growth in North Texas would trigger a drop in sales and ease price pressures, they say.

Gaines said some of the huge increase in Dallas-Fort Worth home prices is because a larger share of higher-priced houses are trading, which pulls up the median and average. “It’s both a real price increase but also somewhat of a statistical thing since more expensive homes are being bought and sold,” he said.

Whatever the reason, Gaines said the jump in prices will affect potential homebuyers.

“Some people will pull back from the market, and others will think they have to buy now before it goes up more,” he said.

This is the second year in a row of substantial price rises in the D-FW home market.

“Last year we were talking about this, too,” Gaines said. “Generally there is always a reckoning that comes down the line somewhere. But it might not be a collapse.”

Dallas housing costs are still affordable in an area that’s seeing robust job growth, said Stan Humphries, chief economist for online home marketing firm Zillow.

“Dallas home value appreciation rates may make it feel like another housing bubble, but the reality is that homes are still really cheap there relative both to incomes and to the alternative of renting,” Humphries said. “I can completely understand why people see high appreciation rates and think about price bubbles.

“The reality, though, is that bubbles can be better seen by looking at affordability relative to historical levels or, alternatively, home prices relative to rental prices,” he said. “In both these measures, Dallas is not currently in the midst of a price bubble.”

The local housing market is still in uncharted waters.

Home sales were up 6 percent from May 2014 with 9,484 properties sold.

It was the largest one-month sales total ever for North Texas, according to data from the Real Estate Center and the North Texas Real Estate Information Systems.

With the strong sales, the number of homes listed with real estate agents in the area dropped 15 percent from this same time in 2014. There was a 2.4-month supply of homes in real estate agents’ multiple listing service, less than half of what is considered a normal inventory.

May’s strong home sales and price spike will put more pressure on the local housing market, which is stretched with more buyers than sellers.

National surveys show that the Dallas-Fort Worth area is seeing the largest annual home price gains in the country. Prices here are rising at about three times the long-term average rate of residential appreciation for the area.

Through the first five months of 2015, preowned home sales in North Texas are running 4 percent higher than for the same period last year.

Median sales prices so far this year are 12 percent higher than they were in the first five months of 2014.

On Twitter:
@SteveBrownDMN
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