From 1998 to 2000, I remember houses being very affordable and very reasonable. There was this nice, freshly built 3 bedroom house going for 275000 in Studio City. Perfect location, fresh built, nice. During that time, everyone had the cash to afford it. There were lots of good paying jobs and the stock market was going gangbusters. Fastforward until now. Salaries have been stagnant and, while the stock market has been good, there really hasnt been the same pop as existed back then...I mean there hasnt been the JDS Uniphase type pops where the price of the stock went from 2 dollars to 1000 dollars. At the height of the housing bubble, I remember ramshackle places going for hundreds of thousands of dollars that would have fetched barely 6 digits back in 1999. Today, housing prices are still much greater then what they were in 1999 despite the supposed pullback. I wish I had bought several of these cardboard houses back in 1999 and then sold them off in 2004. Even if I didnt sell the cardboard house in 2004, I still think I could have sold it for a profit today. It must be challenging for a family oriented young adult. If you want a family then your forced into this world into the low paying salaried position and there is little chance you can get yourself a house that is decent.
Hello Sir...honestly and no joking..this is a mansion compared to much of the living conditions I have seen around the world...serious stuff..