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The Middle Class Can't Afford to Live in Cities Anymore

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Re: The Middle Class Can't Afford to Live in Cities Anymore

#361
> Landlords are able to charge more, and long-time rental residents get displaced when they can’t afford the new prices.

So just because you rent a place somewhere for a couple of years you are entitled to be able to stay there forever? even if everything around you changes?

What if I have more money, and I want to move in as well, but can't because you are still renting the place you are entitled to for cheap?

> That’s what’s happening in Fort Hill, a traditionally African American neighborhood that is whitening every year as black residents who’ve rented there for decades are replaced by high-turnover college students willing to pay the ever-higher market rates for apartments.

I find it disturbing that this article throws in race despite this being a purely economic situation.

Re: The Middle Class Can't Afford to Live in Cities Anymore

#362

Earlier quoted context omitted.

My situation is extraordinary regarding the mortgage since I can't deduct it: so tax rate is pretty accurate. The sports car is nicer than the average (approaching supercar) and the SUV is categorized as luxury. Not out of the ordinary in this area.

I'm curious why you can't deduct the mortgage payments. Just so far down the amortization curve that it's mostly principle now? Or you're talking about an investment property?

Relationship penalty.

Re: The Middle Class Can't Afford to Live in Cities Anymore

#363

Earlier quoted context omitted.

Neighborhoods in LA vary greatly and depend on what you value. For example, if you want good schools, yard and say house under 700k, and want to commute to Santa Monica. Your best bet is West San Fernando Valley, such as Woodland Hills and parts of Calabasas. Thousand Oaks would reduce house costs to 400-600k, but add 20-30 mins to an already hour-long drive. Forget public transit. If you don't need to go to SM/Venic…

Hmm, a few of these are not even in the same county, 700k too rich. Middle-class is more like 300k. Most choices around say, 300k are around Downtown or South Central and have bars on the windows, which is what I was slightly exaggerating by calling them "near skid-row." I'm guessing nearby schools are in similar condition. http://www.realtor.com/realestateandhomes-search/Los-Angeles... https://www.zillow.com/mortgag…

Greater LA area covers at least 3 counties. How's that a problem?

If you want sub 300k in a safe area with shorter commute, then you have to stick to condos. If you have to have a house, commute is required. Valencia, Santa Clarita, Sylmar, all have houses in $300k or less.

Homeless explosion has as much to do with inadequate mental health care as any economic situation. Homelessness is such a complex topic that no comment on a thread could ever do it justice. Try talking a chronically homeless person into accepting a free apartment - you'd be surprised at the answer and concerns.

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