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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: John Vosilla who wrote (25749)	12/9/2004 1:37:32 AM
From: kikogrey	Read Replies (2) \| Respond to of 306849

Care to comment on the dilemma faced by young couples today? My 26 y.o. daughter and son-in-law (new attorney) and 4 month old baby would love to buy a place in Los Angeles. Condos are at least $400,000+. HOA are usually $3-400/month. Add in taxes, insurance and mortgage and I tell them they are better off renting their 2 bd place for $1300. How do first time buyers survive this market? They don't have a downpayment (how many young couples have a spare 1 or $200,000?) and both have school loans. I tell them to wait for a down cycle. Personally I'd move out of LA because prices are just too crazy for what you get but it's out of the question for religious reasons.