this post was submitted on 12 Jul 2023
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In Ventura, near Los Angeles, a house that was $600k is currently $1.2m. The whole housing market’s near bursting soon.
Love the fact that 100km is "near". You would be nearly in an other country in Europe.
But that's just insane for a 110k city. I mean I get it, it's Cali and has a coast. But 1.2m for a normal home is just borderline undoable.
Are prices in small towns also exploding?
Yeah, unfortunately most the western US was built on the asinine belief everyone should/does have a car and everyone convinced themselves they enjoyed the idea. But with gas at the price it’s at, along with regularly congested freeways, only now is it being noticed we should’ve planned ahead. To make it worse, there’s so much red tape when dealing with politicians that a projects budget can easily cost 3 times more and take 4 times longer and risk not even getting completed. There’s space and money here, but it’s basically being managed by red assed baboons looking for campaign donations or how their donors can buy up homes and turn them into a block of AirBNB’s lol.
But enough of my ranting, I agree it’s not sustainable and that’s why you’ll see people living in motor homes at night. I know a friends house in LA County has gone from 270k before and is now 500k. No one can afford to purchase, anyone who does is looking at the collapse we saw around 2009, but now it’s houses and car loans. 🙄 It’s like watching people dry hump door knobs lol.
/sleepy rant