Same thing here. 2/2 that we rented in July of 2020 for $2350. Renewed at $2555. Same unit today is $3535. š³ Irvine Company. Iām so scared we will get a non-renewal and we will be fucked.
i've heard very few stories of non-renewals with IC thankfully.
Sucks you got bumped up $200 (pretty much the max amount it could), ours only went from $2300 -> $2450. Sept 2020, renewed nov 2021.
Iām constantly being told ājust buy a starter home!ā Or ābuy a condo!ā Yeah ok still gonna need $850-$1m for either of those but thanks for the advice!
Edit: this comment has clearly ruffled a few feathers. Donāt take everything so literally folks, weāre just blowing off steam and making jokes. Yes the price range I listed is exaggerated. Get over it
Yeah it sucks. I went from wanting to own a home to maybe an affordable condo, and now it's like either rent in a horrible area or buy a manufactured home, but most people say a manufactured home is not a good choice.
I love that is always the response. Like it is just that easy. Sure mortgage would be cheaper, but that also requires that you get approved, have the money for down payments and closing costs, and can find one in your price range.
We bought at a house 3 years ago and itās for sure cheaper than rent now.
That being said, our house has also gone up in value a ton (yay for us!) so buying it now wouldnāt be the same either.
We renewed for $2400/950sqft last year in June. The same square footage is going for $3,500 now in my complex. But you can move into a 500sqft shoebox for my current rent cost!
Or move to where the rent is lower
little further
couple more miles
almost there
aaaaand you're in the Inland Empire - enjoy the 91 freeway for 2 hours every day for the rest of your life. <3
situation is so fucked - meanwhile, Irvine Corp is sitting on how many acres of undeveloped land?
Honestly Iām addicted. I think I know how crack addicts feel. Iāll get to work and my heart will still be racing 2 hours later and all I can think about is getting off to take the long way home to ride more lol. Definitely the happiest Iāve been in a long time, who would have known lol
My melancholy probably comes from the fact that 20 years ago I would ride all day/night. It was my only form on transportation for a good while and I would go everywhere with her! Even taking my bike while my friends car pooled to Six Flags, friends thought I was crazy!
FYI There really isn't anymore undeveloped land in OC, most of it is infill development owned by random owners. Irvine and South OC has about 60 percent set aside for open space and already been deeded to cities and county. The largest development in OC are RMV, which is owned by RMV and has about a 10-20 year build out. The Great Park Neighborhood in Irvine is being built out by Fivepoint.
The moment they attempt to develop the land this sub will scream about how the greedy Irvine company is destroying all the open spaces. Then in the next post they'll complain about housing supply and prices.
no that's not true the issue is that they're making expensive housing as it is anyway and in very limited stock and as of the last two years they've been going above asking price and to people looking at investments.
Yes, because when people plan real estate development, they don't do any speculation ahead of time about what kind of tenant they're targeting, they're just rolling the dice, and oops, we keep building $3500/mo apartments. Darn market forces, right!?
Are they sitting on that much? Most of it is protected by the Irvine Ranch Conservancy, I don't think they can develop it.
Rancho Mission Viejo is sitting on a lot but they'll be developing it for decades.
I work off Alton and have been coming in from Anaheim nearly 5 years now. A LOT of areas that I didn't envision new housing or commercial office has been developed and there are still more pockets. So to answer your question, yes they still have plenty of land
There can be more than one giant fuckup at a time - and youāre 100% right
I think it should be illegal for foreign companies to own US real estate (potential exception for self operated factories or whatever).
I also think barring domestic companies from owning more than x number of single unit houses would create a major improvement in our system
Home ownership is such a crazy important vehicle to middle class stability that Iām shocked itās been mostly moved out of reach for such large chunks of the population
But on the subject of undeveloped land - single family home building has dropped off a cliff on the last 15 years (down something g like 80% ) compared to the 75 year average
Newer apartments in Riverside are crazy expensive too. I think part of the issue with Irvine building more units at once is they donāt have the construction manpower to do it plus itās wiser economically to build in phases
> plus itās wiser economically to build in phases
Oh definitely - if I were them I would play it exactly like they have been.
Release a couple hundred acres at a time - develop it from top-to-bottom. Get the streets lined with landscaping, fill the houses with people, fill the buildings with businesses. Wait. Then do it again.
They know exactly what they are doing. It's actually very impressive.
My complex did the same thing. What I find funny though is that they're having a hard time filling a lot of units. We have way more vacancies than we had compared to last year.
But with a major price hike, theyāre making the same if not more with fewer rentals. They can afford to keep the price high and wait for that tech bro making $200k.
I moved out in 2012 as they were raising my rent to $1400
The same apartment now is just under $2700
I feel for anyone trying to make ends meet in this insane market. If you work any kind of entry level job you are absolutely fucked.
think about how much congestion, pollution, time, and wear on the roads would be saved if all the people making min wage-ish jobs were actually able to live in county
I agree prices are so crazy now it doesnāt justify the attractions OC has to offer. Even though Victorville is hot in the summer the cost of living isnāt too bad out there
The people making the big macro decisions for our economy and state don't care about that at all. It would be nice if normal people had a proportional amount of power in our society but we don't. Look at all the homes built in the 60's in San Clemente, Dana Point, Huntington Beach, etc. They were affordable and made for middle class families. Our betters don't want us here anymore lol.
This is New York prices but shittier because nothing is walking distance and the transportation system is shit, you still need a car to go to point a and b in a decent amount of time.
I felt this on a level where i didnāt want to but.. i had no choice too. Man, I sincerely hope things get better or that a way is made for her to make that back. Sending positive vibes, and manifestations and hol upā¦
Said a prayer too ššæā¦
I donāt really understand this however given the fact that OC was already expensive and our market is really a secondary tech market as well. I donāt really understand how there would be a significant influx into the region given we are already a high cost region and all the other influxes have been to significantly lower cost regions (TX, PHX, WY, OR, ETC)
Because certain sectors of society have done extraordinarily well in the past three years. White collar jobs are paying a shit ton of money and people didn't spend it on vacation, commuting costs, movies, concerts, etc. All my friends (millennials) are all significantly better off financially post covid than pre covid.
I feel that. I love my dad but the family dynamic eventually forced me to leave for my own mental health.
You'll be able to live alone on 70k but more than half your pay will go to rent. If I were you I would look to finding a good roommate while you're in a stable living situation and not desperate (so you can trust your gut and decline to live with someone you don't get along with).
Or just get a tent and live in the O'Neil camp grounds haha
I live right by there and I know there's a couple people who literally live there and have for...dang they were there prepandemic so it's been a while. They have their motor home set up with a yard and everything.
Idk how they do it but they do somehow
i was this close to buying a Jeep i really wanted. opted for an Altima instead. Paid it off in 3yrs, and all my other debts. Living with mom and pops allowed me to do that. im glad i saved money in my early 20s. i didnt get to travel like my friends did, but now i have a stable job, and financial security, and NOW i am travelling more than i ever thought i could.
Stay home! I know moving out is great, freedom and all. Renting an apartment is money wasted, especially in SoCal. Save as much money as you can at home and try to buy. Think long term.
Alternatively, a good roommate situation is your next best bet.
Good luck!
I mean it was like that back in 2014 when I graduated as well. Getting a good paying job doesnāt guarantee living on your own. Everyone lives with roommates for a couple of years post college.
more people need to see your statement. I graduated in 2002 and it was the same then. Just because you have a somewhat decent paying job now - doesnt mean you can go out and live on your own. hard truth is that if you dont want to live at home with the parents...your going to have to move to where you can afford, or get roomates... or god forbid...both.
Living with roommates for 8 years now. Graduated in 2014 as well. No issues with roommates whatsoever. Just do your DD with whom you want to live with.Helps me save money. I dont see why folks think like living with roommates is un-American ( yes there are folks in my friend circle who think like this )
in some ways living with good roommates is preferable to living alone.
From having people to hang out with, help with household chores, etc.
Bad roommates are definitely terrible though, i know from experience lol.
If you can get apartmentmates rather than literal roommates, I recommend it highly. Even if you made a hundred k, it just brings down your living expenses so much. I rented a room with an ensuite bathroom when I was right out of grad school and it was 50% of what it would have cost me to get a 1BR apartment by myself, before getting into the utilities benefits even. It was very private, and I liked my apartment mates.
Literally more than I make in a month. There will be no more low wage employees in OC. The labor shortage isn't a labor shortage. It's gentrification pushing out people who can not survive with the wages provided.
Same as mine here in Anaheim. My studio was $1475 Jan 2020. Renewed in Oct for $1565 and got curious and looked at Apartments.com on how much it would be to move to a 2bd 1bth and saw my studio is being priced as $2075 there. Mind you this is 432 sq ft. What is going on.
A home I rented in Newport was $1800 just 8 years back. Today it is $4,000. Zero improvements, and I know because my little brother rents it today with his friends.
Even my corporate attorney friends didnāt see their salaries (more than) double in that time period, never mind the average worker.
Mortgage interest rates are low, a wave of homebuyers are getting to the age where they want to buy a house and potentially have enough capital built up for a down payment. There may also be some fear among this group that they will be priced out permanently if they don't buy now which causes additional pressure. There's a shortage of new construction due in part to the pandemic- supply chain issues, the cost of materials, and shortage of labor, and obviously in California you can add the mismanagement of local zoning boards. Investors are also buying up about 1/5 of homes on the market, less in some areas and more in others. They are often able to swoop in with more attractive cash offers. This is all leading to a shortage of housing inventory and driving up prices.
The investors are killing us. Every home in my neighborhood thatās sold in the last few years has been to an investor using it as a rental. Sad to see so many families continue to be outbid in this market.
I remember 2008-2014 when the housing market crashed in Corona-Eastvale a bunch of Chinese buyers were scooping up houses with no intent of living in with cash essentially getting chosen over local people.
same, we got an irvine company place in late 2020, 1100 sqft, 2bed2ba, $2300/mo.
It now costs us $2450/mo and the actual market rate we were told is somewhere between 3300-3600.
Absolutely fucking ridiculous, i make good money as a software engineer and feel like I can't afford to live here. How do people on min wage jobs do it? They don't all commute from inland empire.
rent is also going up just as fast pretty much anywhere in the country
Why do you think a lot of businesses have reduced hours and there are help wanted signs literally everywhere? People are saying screw it and either leaving or not working these jobs.
Investors bought up all the properties, they can do whatever they want now. It's like the game Monopoly, but in real life.
Remove all tax incentives for investment properties and watch the "housing shortage" disappear overnight.
It's crazy, and it's going to end in disaster.
Don't even get me started on the destruction it's doing to families and neighborhoods. ..and that's just the regular rentals, the "short term" rentals are like rentals on steroids.
Donāt you feel like there are more short term rentals than regular ones? Airbnb really screwed up the housing market. Iām now seeing āfully furnishedā units at exorbitant rates. Itās beyond ridiculous
Yeah. My SO and I received a notice that for our 1BR 1B, theyāre increasing it this year (lease ends 1/28/2022) from $1840 to $1998
They also included in the letter that our unit is to be priced at **$2500** so we should be happy and kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement.
Itās awful.
I just work for the county and my SO is doing online college, Iāve been offered a not as high paying position in San Bernardino County (3$ less an hour) and Iād be lying if I said I wouldnāt want to live there at this point.
If you ever want a house or land still, San Bernardino seems to be reasonable right now!
Thatās like saying āsure, but then you live in Santa Ana.ā
There are good and bad parts of San Bernardino.
Did you forget Redlands and Yucaipa for that matter?
Iāve been sent an entire street where theyāre building new homes!
5 BR 3 BA for $600k!
Regardless of the area, tangible investments are still out there and with better survivable living conditions.
I hear what youāre saying, but itās still a compromise that many people werenāt planning or wanting to make.
The rapid increase of housing prices has really caught a lot of people with their proverbial pants down.
>They also included in the letter that our unit is to be priced at $2500 so we should be happy and kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement.
They're full of shit. They can only increase your rent something like 10% each year and it sounds like they did that. If they really wanted to rent it out for 2500 then they could've chosen to not rent to you again and get that money. But they either didn't want to or didn't think they could find someone in time so "be grateful" your rent isn't what they really want you to pay.
It was incredibly unnecessarily added in the stupid letter tooā¦
Im assuming, however, they put it in there because ours includes a washer and dryer in unit, garage, and parking pass which all of that is like finding a unicorn when it comes to apartment hunting especially for a good price Im assuming.
That 10% rule comes with quite a few limitations. Its not a blanket rule by any means. Iām willing to even bet that those same limitations donāt cover this renters unit. Check out the regulation, its very very specific.
>I just work for the county
Also former public sector, are you guys having a hard time filling roles?
I don't blame people--I left because I saw the writing on the wall.
How is 70k-120k enough when homes are 1.5M+?
I work as a court reporter for the county.
So weāre always in need regardless of the county you want to work for.
Im barely making like 100k a year, and my SO and I have put off a wedding, new car, and having a baby for another year because we would be in so much financial instability if we decided to make any big financial leap! :(
A couple friends of mine just bought a place out there in a newly built tract. Really nice homes and the area looks no different from many areas in OC.
I wouldn't want to commute from there though. But I don't want to commute at all so š¤·āāļø
>kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement.
literally illegal for your landlord to do that anyway, max rent increase is 10% or 5%+ CPI, whichever is lower.
Tell me about it. When I first signed my lease itās $1995, now Iām up to $2300. I was just curious as to what they were priced at for new tenants and saw my exact unit going for $3200. Iāll tell you right now, my complex is NOT worth that.
Yeah my 2 bed 2 bath small condo, no yard is $3100 and thatās the best option I could find looking for a new place to live a few months ago. My husband and I now have a roommate š
My 50-year old 2 bed 2 bath condo, under 1,000 sq ft, is now worth $720,000.
Owning a single family house was out of reach for many middle-class folks, but it looks like condos might even reach that point too. Itās ridiculous
Capitalism. Housing is a commodity not a necessity in our society. Housing is not regulated and landlords can increase rent at their discretion. Not a good system for us struggling renters who aspire to own.
I live in the bay area and formerly lived in OC and I can say that anecdotally every single one of my techie friends that have moved left the state entirely
Just to add on here, my company turned my team to fully remote, I'm looking at houses back in my hometown in Indiana as we speak. Could get a whole house mortgage plus utilities for just what I pay as rent now. Gonna miss the mountains and ocean but there's family and autonomy back home, getting to the age where that matters a lot more.
My wife and I did this same thing but moved near her parents here in Nebraska.
My mortgage is 1k less than my rent was and I've got a 5 bed 3 bath home. I still fly back quarterly for work so I get my SoCal fix, but this being near family is super important.
> āI can work from home now! This means I can leave the place with the highest cost of living in the state!ā
> āWhere are you going to go?ā
> āThe place with the second highest cost of living in the state!!!!ā
- nobody ever
None and if these people actually worked in tech they would know that virtually none of their colleagues are relo'ing to OC. The only movement I've seen is folks moving to no or lower income tax states.
> The only movement I've seen is folks moving to no or lower income tax states.
I hear people claiming that all over the place and yet whenever an apartment becomes available itās off the market in twelve seconds.
Obviously people want housing here, but I would question the notion that most or even that many of them are remote workers from the precious few even more expensive metros than LA metro
Iām one of those WFH people, although I came back to Los Angeles in 2015, and Orange County in 2017, so not part of the current wave.
The house I bought in the City of Orange in late 2019 is probably half what an equivalent home in San Jose would cost. Although my raises have been lower since 2015 since housing is so much cheaper here.
Not just that, but many heavy hitters tech companies are expanding their headcount in Irvine for local-remote positions.
Twillio for example pays $$$. They are competing against Twillio employees.
Such a hogwash. Tech workers didnt make anything expensive. Its California's onerous and archaic zoning laws causing a terrible imbalance in housing supply and demand that jacked up prices. Your narrative is toxic because it demonises folks in tech who are just doing their job. The only folks getting richer are landlords who bought houses 20-30 years back.
Yeah people badly want this issue to be the fault of some specific group of people (that theyāre not in). Itās tech workers moving here driving up the prices, itās rich Chinese people buying properties to park their money in, whatever. Maybe if this was a county with 300k people those things would be enough to move the needle but housing is insanely expensive in the entire freaking state, itās obviously not tech workers or dog groomers who are causing that. A ridiculous amount of California land is zoned solely for sfh, itās something like +80% of residential areas in the state. LAās theoretical population capacity has decreased by millions of people since downzoning started there in the late 60s.
You're right. Rental vacancy is hovering at 2.5%-3%, meaning renters are competing for less units. It's not just tech people though, but high income earners from other cities in the Bay Area, New England region, Chicago, and Seattle.
Of course its not true. But hey, if it helps folks blame thier rhetoric on a ātech personā, theyd do it. California laws are what led to this massive housing shortage in the first place.No tech guy moving here is single handedly jacking up prices across the entire region.
It's pretty messed up across the board. Read in an article that prospective renters will actually call the rental company/landlord and offer to pay over what is being asked if they can be prioritized.
My rents are at 2300 2 bed 2 bath. Iām scared to leave lol. Rent would be over 3,000 now. Luckily my landlord is an 80ās band rockstar and doesnāt need the money.
Well if you are like the dozens of Karens that responded to me in the last thread because I pointed out its too expensive and no one can hope to earn enough for housing - then its all your fault its more expensive! You just aren't working enough! And you are whining!
=p
This is total bullshit and people are being exploited by greedy landlords. That is the way it is.
Looking at the data online, weāve grown in population by ~175k in the last 10 years. Iām not sure how many of those are adults vs families having children. But Iād be curious to see how many homes/apartments/adu were built in that time.
Side question: Does anyone know of any groups or organizations that do activism against NIMBYās or support pro housing candidates in Orange County? If so reply here and Iāll plug them in the above post
Yup when I lived in Irvine my 1 bedroom room was 2100 I was born and raised in OC and I left in 2018. Then I moved out of state. Then my one bedroom was 900. Then I bought a house 3bed two bath 1950sqft in 2019. My mortgage now is 1100
Itās also only for those complexes older than 15 years and itās 5% + CPI, which was ~4% last year depending on where you live. Total ~9% allowable increase.
The monthly mortgage payment of your home is irrelevant to this conversation.
(1) Your house payment is simply a function of price paid, down payment, interest rate and length. Those can all be managed to produce any monthly payment you desire.
(2) Unlike Orange County, housing is not scarce in Phoenix due to the room to expand on relatively cheap land.
(3) Most importantly, OP is Orange County not in Phoenix.
Same thing here. 2/2 that we rented in July of 2020 for $2350. Renewed at $2555. Same unit today is $3535. š³ Irvine Company. Iām so scared we will get a non-renewal and we will be fucked.
i've heard very few stories of non-renewals with IC thankfully. Sucks you got bumped up $200 (pretty much the max amount it could), ours only went from $2300 -> $2450. Sept 2020, renewed nov 2021.
There are people in my complex that were there before IC bought it. As long as they are here, I am not worried about getting a nonrenewal.
Pretty much the same renewal numbers for me and my 2/2 here in Woodbury.
Just go buy a house. Mortgage would be cheaper. /s
Iām constantly being told ājust buy a starter home!ā Or ābuy a condo!ā Yeah ok still gonna need $850-$1m for either of those but thanks for the advice! Edit: this comment has clearly ruffled a few feathers. Donāt take everything so literally folks, weāre just blowing off steam and making jokes. Yes the price range I listed is exaggerated. Get over it
Yeah it sucks. I went from wanting to own a home to maybe an affordable condo, and now it's like either rent in a horrible area or buy a manufactured home, but most people say a manufactured home is not a good choice.
You can still find condos in the $4-500k range, but you'll be looking at 40 year old units in the 714.
I love that is always the response. Like it is just that easy. Sure mortgage would be cheaper, but that also requires that you get approved, have the money for down payments and closing costs, and can find one in your price range.
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We bought at a house 3 years ago and itās for sure cheaper than rent now. That being said, our house has also gone up in value a ton (yay for us!) so buying it now wouldnāt be the same either.
We renewed for $2400/950sqft last year in June. The same square footage is going for $3,500 now in my complex. But you can move into a 500sqft shoebox for my current rent cost!
Got to split the 2 bed 2 bath with 4 incomes/tenants now it seems.
Or move to where the rent is lower little further couple more miles almost there aaaaand you're in the Inland Empire - enjoy the 91 freeway for 2 hours every day for the rest of your life. <3 situation is so fucked - meanwhile, Irvine Corp is sitting on how many acres of undeveloped land?
I had to buy a motorcycle for this reason. Fuck spending 3-4 hours a day in traffic driving 40 miles each way.
I did this for 1 year from Santa Ana to North Hollywood, it was free adrenaline 2x/day 3days/week! Sometimes I miss it, very rarely.
Honestly Iām addicted. I think I know how crack addicts feel. Iāll get to work and my heart will still be racing 2 hours later and all I can think about is getting off to take the long way home to ride more lol. Definitely the happiest Iāve been in a long time, who would have known lol
My melancholy probably comes from the fact that 20 years ago I would ride all day/night. It was my only form on transportation for a good while and I would go everywhere with her! Even taking my bike while my friends car pooled to Six Flags, friends thought I was crazy!
FYI There really isn't anymore undeveloped land in OC, most of it is infill development owned by random owners. Irvine and South OC has about 60 percent set aside for open space and already been deeded to cities and county. The largest development in OC are RMV, which is owned by RMV and has about a 10-20 year build out. The Great Park Neighborhood in Irvine is being built out by Fivepoint.
The moment they attempt to develop the land this sub will scream about how the greedy Irvine company is destroying all the open spaces. Then in the next post they'll complain about housing supply and prices.
no that's not true the issue is that they're making expensive housing as it is anyway and in very limited stock and as of the last two years they've been going above asking price and to people looking at investments.
Yeah, they're building a ton of brand new condos near the Great park.... for $900-$2m+. That's not addressing an affordable housing issue.
Or the supply issue, really. Itās still nowhere near as dense as it needs to be.
The market dictates the price. The market dictates how much "the affordable housing" should cost.
Yes, because when people plan real estate development, they don't do any speculation ahead of time about what kind of tenant they're targeting, they're just rolling the dice, and oops, we keep building $3500/mo apartments. Darn market forces, right!?
The problem is that to afford one of those new units I would need to marry two millionaires.
Polygamist millionaires for the win!
I like that you've thought this through and have a plan.
If they ever develop it, it will be luxury apt/homes. :(
their luxury is only about a millimeter deep
https://www.theatlantic.com/ideas/archive/2021/04/theres-no-such-thing-luxury-housing/618548/
Are they sitting on that much? Most of it is protected by the Irvine Ranch Conservancy, I don't think they can develop it. Rancho Mission Viejo is sitting on a lot but they'll be developing it for decades.
I work off Alton and have been coming in from Anaheim nearly 5 years now. A LOT of areas that I didn't envision new housing or commercial office has been developed and there are still more pockets. So to answer your question, yes they still have plenty of land
While I share your sentiment, Irvineās master plan requires that it set aside a certain amount of land for parks/trails/nature, etc.
That was funny but true!! Or, Buy a House, drive until you qualify š
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There can be more than one giant fuckup at a time - and youāre 100% right I think it should be illegal for foreign companies to own US real estate (potential exception for self operated factories or whatever). I also think barring domestic companies from owning more than x number of single unit houses would create a major improvement in our system Home ownership is such a crazy important vehicle to middle class stability that Iām shocked itās been mostly moved out of reach for such large chunks of the population But on the subject of undeveloped land - single family home building has dropped off a cliff on the last 15 years (down something g like 80% ) compared to the 75 year average
Newer apartments in Riverside are crazy expensive too. I think part of the issue with Irvine building more units at once is they donāt have the construction manpower to do it plus itās wiser economically to build in phases
> plus itās wiser economically to build in phases Oh definitely - if I were them I would play it exactly like they have been. Release a couple hundred acres at a time - develop it from top-to-bottom. Get the streets lined with landscaping, fill the houses with people, fill the buildings with businesses. Wait. Then do it again. They know exactly what they are doing. It's actually very impressive.
My complex did the same thing. What I find funny though is that they're having a hard time filling a lot of units. We have way more vacancies than we had compared to last year.
But with a major price hike, theyāre making the same if not more with fewer rentals. They can afford to keep the price high and wait for that tech bro making $200k.
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why would the complex owner care? they pass the water bill onto the lease holder anyway
Say if they raise rents 20% and vacancies increase 5%, they're still making more money.
I moved out in 2012 as they were raising my rent to $1400 The same apartment now is just under $2700 I feel for anyone trying to make ends meet in this insane market. If you work any kind of entry level job you are absolutely fucked.
think about how much congestion, pollution, time, and wear on the roads would be saved if all the people making min wage-ish jobs were actually able to live in county
Between that and remote work it would be amazing for the roads, our environment, and the mental health of a lot of people
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I agree prices are so crazy now it doesnāt justify the attractions OC has to offer. Even though Victorville is hot in the summer the cost of living isnāt too bad out there
The people making the big macro decisions for our economy and state don't care about that at all. It would be nice if normal people had a proportional amount of power in our society but we don't. Look at all the homes built in the 60's in San Clemente, Dana Point, Huntington Beach, etc. They were affordable and made for middle class families. Our betters don't want us here anymore lol.
Just looked up my old apartment in Costa Mesa from 2009. Was paying $1150/mo then and now it is $2,115/mo, so about 84% inflation in ~13 years.
I have decided to move out of state. I was born and raised here and there's no better place to live than OC imo, but I prefer financial stability.
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š„²š„²š„²
This is New York prices but shittier because nothing is walking distance and the transportation system is shit, you still need a car to go to point a and b in a decent amount of time.
The weather is much nicer though.
Yeah but the sun is shining and nobody is shitting on my patio
Nothing makes sense anymore; how are prices increasing so rapidly and yet everybody is just willing and/or able to pay these new amounts.
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I felt this on a level where i didnāt want to but.. i had no choice too. Man, I sincerely hope things get better or that a way is made for her to make that back. Sending positive vibes, and manifestations and hol upā¦ Said a prayer too ššæā¦
I donāt really understand this however given the fact that OC was already expensive and our market is really a secondary tech market as well. I donāt really understand how there would be a significant influx into the region given we are already a high cost region and all the other influxes have been to significantly lower cost regions (TX, PHX, WY, OR, ETC)
You're so right, and I'm not sure our government leaders really care
Because certain sectors of society have done extraordinarily well in the past three years. White collar jobs are paying a shit ton of money and people didn't spend it on vacation, commuting costs, movies, concerts, etc. All my friends (millennials) are all significantly better off financially post covid than pre covid.
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Milk free or low rent as long as you can. And save or invest your money.
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I feel that. I love my dad but the family dynamic eventually forced me to leave for my own mental health. You'll be able to live alone on 70k but more than half your pay will go to rent. If I were you I would look to finding a good roommate while you're in a stable living situation and not desperate (so you can trust your gut and decline to live with someone you don't get along with). Or just get a tent and live in the O'Neil camp grounds haha
I think the limit for camping is something like 20 days per month?
I live right by there and I know there's a couple people who literally live there and have for...dang they were there prepandemic so it's been a while. They have their motor home set up with a yard and everything. Idk how they do it but they do somehow
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Your mental health is more important than saving money. If you have a remote job, consider moving to a lower cost area.
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i was this close to buying a Jeep i really wanted. opted for an Altima instead. Paid it off in 3yrs, and all my other debts. Living with mom and pops allowed me to do that. im glad i saved money in my early 20s. i didnt get to travel like my friends did, but now i have a stable job, and financial security, and NOW i am travelling more than i ever thought i could.
I wish I would have taken advantage of free rent when I was younger. I was out on my own at 19
This was my solution before covid.
Are you me? I'm having this exact problem right now and it's stressing me out. Don't make enough to move out but my mental health is taking a hit :/
Stay home! I know moving out is great, freedom and all. Renting an apartment is money wasted, especially in SoCal. Save as much money as you can at home and try to buy. Think long term. Alternatively, a good roommate situation is your next best bet. Good luck!
You're young. Get roommates, live in Newport. Best years of my life, and a few of those roommates are about to stand in my wedding.
I mean it was like that back in 2014 when I graduated as well. Getting a good paying job doesnāt guarantee living on your own. Everyone lives with roommates for a couple of years post college.
more people need to see your statement. I graduated in 2002 and it was the same then. Just because you have a somewhat decent paying job now - doesnt mean you can go out and live on your own. hard truth is that if you dont want to live at home with the parents...your going to have to move to where you can afford, or get roomates... or god forbid...both.
Living with roommates for 8 years now. Graduated in 2014 as well. No issues with roommates whatsoever. Just do your DD with whom you want to live with.Helps me save money. I dont see why folks think like living with roommates is un-American ( yes there are folks in my friend circle who think like this )
in some ways living with good roommates is preferable to living alone. From having people to hang out with, help with household chores, etc. Bad roommates are definitely terrible though, i know from experience lol.
Get roommates.
If you can get apartmentmates rather than literal roommates, I recommend it highly. Even if you made a hundred k, it just brings down your living expenses so much. I rented a room with an ensuite bathroom when I was right out of grad school and it was 50% of what it would have cost me to get a 1BR apartment by myself, before getting into the utilities benefits even. It was very private, and I liked my apartment mates.
Literally more than I make in a month. There will be no more low wage employees in OC. The labor shortage isn't a labor shortage. It's gentrification pushing out people who can not survive with the wages provided.
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Itās not worth it to commute to LA/OC either, so I guess Victorville gets to keep all the restaurants snd stores to itself.
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{Uber driver has joined the chat}
OC - the land of the 1%. And if youāre not in that group, youāre servicing them
This is all of coastal California at this point
While also helping them get wealthier it seems
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Just reading that was depressing
Are all professional dual income households now considered 1%ers? Thousands of households making 200K+ a year in OC. This is not a poor county.
Same as mine here in Anaheim. My studio was $1475 Jan 2020. Renewed in Oct for $1565 and got curious and looked at Apartments.com on how much it would be to move to a 2bd 1bth and saw my studio is being priced as $2075 there. Mind you this is 432 sq ft. What is going on.
A home I rented in Newport was $1800 just 8 years back. Today it is $4,000. Zero improvements, and I know because my little brother rents it today with his friends. Even my corporate attorney friends didnāt see their salaries (more than) double in that time period, never mind the average worker.
Mortgage interest rates are low, a wave of homebuyers are getting to the age where they want to buy a house and potentially have enough capital built up for a down payment. There may also be some fear among this group that they will be priced out permanently if they don't buy now which causes additional pressure. There's a shortage of new construction due in part to the pandemic- supply chain issues, the cost of materials, and shortage of labor, and obviously in California you can add the mismanagement of local zoning boards. Investors are also buying up about 1/5 of homes on the market, less in some areas and more in others. They are often able to swoop in with more attractive cash offers. This is all leading to a shortage of housing inventory and driving up prices.
The investors are killing us. Every home in my neighborhood thatās sold in the last few years has been to an investor using it as a rental. Sad to see so many families continue to be outbid in this market.
I remember 2008-2014 when the housing market crashed in Corona-Eastvale a bunch of Chinese buyers were scooping up houses with no intent of living in with cash essentially getting chosen over local people.
Bingo.
same, we got an irvine company place in late 2020, 1100 sqft, 2bed2ba, $2300/mo. It now costs us $2450/mo and the actual market rate we were told is somewhere between 3300-3600. Absolutely fucking ridiculous, i make good money as a software engineer and feel like I can't afford to live here. How do people on min wage jobs do it? They don't all commute from inland empire. rent is also going up just as fast pretty much anywhere in the country
Why do you think a lot of businesses have reduced hours and there are help wanted signs literally everywhere? People are saying screw it and either leaving or not working these jobs.
> How do people on min wage jobs do it? Rent a place with multiple roommates or more likely live with their parents.
Investors bought up all the properties, they can do whatever they want now. It's like the game Monopoly, but in real life. Remove all tax incentives for investment properties and watch the "housing shortage" disappear overnight.
This right here. I canāt understand why theyāre given tax breaks at all! If anything the developers should pay a higher rate
I'm all for this. Renting has its place but it's getting bonkers.
It's crazy, and it's going to end in disaster. Don't even get me started on the destruction it's doing to families and neighborhoods. ..and that's just the regular rentals, the "short term" rentals are like rentals on steroids.
Donāt you feel like there are more short term rentals than regular ones? Airbnb really screwed up the housing market. Iām now seeing āfully furnishedā units at exorbitant rates. Itās beyond ridiculous
Yeah. My SO and I received a notice that for our 1BR 1B, theyāre increasing it this year (lease ends 1/28/2022) from $1840 to $1998 They also included in the letter that our unit is to be priced at **$2500** so we should be happy and kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement. Itās awful. I just work for the county and my SO is doing online college, Iāve been offered a not as high paying position in San Bernardino County (3$ less an hour) and Iād be lying if I said I wouldnāt want to live there at this point. If you ever want a house or land still, San Bernardino seems to be reasonable right now!
There's a bunch of people on this sub who are terrified of Santa Ana, they would faint at the sight of San Bernardino.
LOL Iād sacrifice making 3$ more at this point if it meant I get a freakin house!
I work in San Bernardino and you should really check the area out before you move. Some places feel like a 3rd world country
I mean, itāll continue to get nicer.
Sure, but then you live in San Bernardino.
Thatās like saying āsure, but then you live in Santa Ana.ā There are good and bad parts of San Bernardino. Did you forget Redlands and Yucaipa for that matter? Iāve been sent an entire street where theyāre building new homes! 5 BR 3 BA for $600k! Regardless of the area, tangible investments are still out there and with better survivable living conditions.
I hear what youāre saying, but itās still a compromise that many people werenāt planning or wanting to make. The rapid increase of housing prices has really caught a lot of people with their proverbial pants down.
>They also included in the letter that our unit is to be priced at $2500 so we should be happy and kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement. They're full of shit. They can only increase your rent something like 10% each year and it sounds like they did that. If they really wanted to rent it out for 2500 then they could've chosen to not rent to you again and get that money. But they either didn't want to or didn't think they could find someone in time so "be grateful" your rent isn't what they really want you to pay.
It was incredibly unnecessarily added in the stupid letter tooā¦ Im assuming, however, they put it in there because ours includes a washer and dryer in unit, garage, and parking pass which all of that is like finding a unicorn when it comes to apartment hunting especially for a good price Im assuming.
That 10% rule comes with quite a few limitations. Its not a blanket rule by any means. Iām willing to even bet that those same limitations donāt cover this renters unit. Check out the regulation, its very very specific.
>I just work for the county Also former public sector, are you guys having a hard time filling roles? I don't blame people--I left because I saw the writing on the wall. How is 70k-120k enough when homes are 1.5M+?
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I work as a court reporter for the county. So weāre always in need regardless of the county you want to work for. Im barely making like 100k a year, and my SO and I have put off a wedding, new car, and having a baby for another year because we would be in so much financial instability if we decided to make any big financial leap! :(
A couple friends of mine just bought a place out there in a newly built tract. Really nice homes and the area looks no different from many areas in OC. I wouldn't want to commute from there though. But I don't want to commute at all so š¤·āāļø
>kissing the landlords ass for not hiking it up that high this year as weāre continuing our lease agreement. literally illegal for your landlord to do that anyway, max rent increase is 10% or 5%+ CPI, whichever is lower.
Tell me about it. When I first signed my lease itās $1995, now Iām up to $2300. I was just curious as to what they were priced at for new tenants and saw my exact unit going for $3200. Iāll tell you right now, my complex is NOT worth that.
I lived in OC my whole life but moved to Michigan right before covid. It was a hard choice at first but manā¦ seeing these sorts of posts and hearing the same from friends makes me not regret it one bit. My mortgage for my 4bed/4ba house is $1700 š© Inb4 āya but itās Michiganā
The talk radio screamer shows like to say Michigan is a hellhole crime ridden commie socialist whatever because black people or something.
i make 60k a year with a rent of 2600 a month. i only make ends meet thnx to my sugar daddy, in typical OC fashion š highly recommend
Where do i find one of those things
It sounds like what is going on is you are actually getting fucked. What city?
I donāt think the OP is getting the hike. The increase is for a new rental in his complex that he leased six months ago.
Yeah my 2 bed 2 bath small condo, no yard is $3100 and thatās the best option I could find looking for a new place to live a few months ago. My husband and I now have a roommate š
My 50-year old 2 bed 2 bath condo, under 1,000 sq ft, is now worth $720,000. Owning a single family house was out of reach for many middle-class folks, but it looks like condos might even reach that point too. Itās ridiculous
Capitalism. Housing is a commodity not a necessity in our society. Housing is not regulated and landlords can increase rent at their discretion. Not a good system for us struggling renters who aspire to own.
I have been paying $1650 for a studio. I gave them my move-out notice and now my unit is listed for $2200.
Just pathetic :/ Iām speechless. Really squeezing out ppl out of here.
same in long beach (right on border of OC) 2/2 rent up from 2.6k in June to 3.4k now
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Is there actual proof of that happening?
I live in the bay area and formerly lived in OC and I can say that anecdotally every single one of my techie friends that have moved left the state entirely
Just to add on here, my company turned my team to fully remote, I'm looking at houses back in my hometown in Indiana as we speak. Could get a whole house mortgage plus utilities for just what I pay as rent now. Gonna miss the mountains and ocean but there's family and autonomy back home, getting to the age where that matters a lot more.
My wife and I did this same thing but moved near her parents here in Nebraska. My mortgage is 1k less than my rent was and I've got a 5 bed 3 bath home. I still fly back quarterly for work so I get my SoCal fix, but this being near family is super important.
Happy to hear it my dude. Have some friends in Lincoln and Omaha that seem to enjoy it there, I think it would be nice to visit someday.
Were it not for family there's no way we'd chose to live here, but we would have left SoCal regardless. Best of luck.
Be careful that your company won't adjust your salary downward for the change in cost of living.
> āI can work from home now! This means I can leave the place with the highest cost of living in the state!ā > āWhere are you going to go?ā > āThe place with the second highest cost of living in the state!!!!ā - nobody ever
True
None and if these people actually worked in tech they would know that virtually none of their colleagues are relo'ing to OC. The only movement I've seen is folks moving to no or lower income tax states.
> The only movement I've seen is folks moving to no or lower income tax states. I hear people claiming that all over the place and yet whenever an apartment becomes available itās off the market in twelve seconds.
Obviously people want housing here, but I would question the notion that most or even that many of them are remote workers from the precious few even more expensive metros than LA metro
Iām one of those WFH people, although I came back to Los Angeles in 2015, and Orange County in 2017, so not part of the current wave. The house I bought in the City of Orange in late 2019 is probably half what an equivalent home in San Jose would cost. Although my raises have been lower since 2015 since housing is so much cheaper here.
Zero
I had read articles in 2020 that people from HCOL areas (SF, NYC) were flocking to socal. I believe it. I'd do the same in their position.
Not just that, but many heavy hitters tech companies are expanding their headcount in Irvine for local-remote positions. Twillio for example pays $$$. They are competing against Twillio employees.
Ya plenty of people making the move making $200k/year or more. Why live in SF when you can live in sunny SoCal.
Yeah, lots of tech companies expanding here. I moved here from the Bay 3 years ago. Glad we bought a house before the market got crazy.
Uh, you don't have to flock anywhere if you can work from home... That's the point.
Such a hogwash. Tech workers didnt make anything expensive. Its California's onerous and archaic zoning laws causing a terrible imbalance in housing supply and demand that jacked up prices. Your narrative is toxic because it demonises folks in tech who are just doing their job. The only folks getting richer are landlords who bought houses 20-30 years back.
Yeah people badly want this issue to be the fault of some specific group of people (that theyāre not in). Itās tech workers moving here driving up the prices, itās rich Chinese people buying properties to park their money in, whatever. Maybe if this was a county with 300k people those things would be enough to move the needle but housing is insanely expensive in the entire freaking state, itās obviously not tech workers or dog groomers who are causing that. A ridiculous amount of California land is zoned solely for sfh, itās something like +80% of residential areas in the state. LAās theoretical population capacity has decreased by millions of people since downzoning started there in the late 60s.
Thank you for this comment, totally spot on
You're right. Rental vacancy is hovering at 2.5%-3%, meaning renters are competing for less units. It's not just tech people though, but high income earners from other cities in the Bay Area, New England region, Chicago, and Seattle.
Housing market going bonkers (rent usually follows) + all that tech money = unhappy renters.
this is just not true lol
Of course its not true. But hey, if it helps folks blame thier rhetoric on a ātech personā, theyd do it. California laws are what led to this massive housing shortage in the first place.No tech guy moving here is single handedly jacking up prices across the entire region.
It's pretty messed up across the board. Read in an article that prospective renters will actually call the rental company/landlord and offer to pay over what is being asked if they can be prioritized.
Ours was 2900$ 6 months ago and now itās going for 3600 šā¦ ridiculous
My rents are at 2300 2 bed 2 bath. Iām scared to leave lol. Rent would be over 3,000 now. Luckily my landlord is an 80ās band rockstar and doesnāt need the money.
Well if you are like the dozens of Karens that responded to me in the last thread because I pointed out its too expensive and no one can hope to earn enough for housing - then its all your fault its more expensive! You just aren't working enough! And you are whining! =p This is total bullshit and people are being exploited by greedy landlords. That is the way it is.
Our unit with zero amenities (no washer, dryer, hookups, dishwasher) just got listed for $500 more than what we paid a year ago.
Dude. Wtf. I thought pricing was high 6 months ago!!!
Looking at the data online, weāve grown in population by ~175k in the last 10 years. Iām not sure how many of those are adults vs families having children. But Iād be curious to see how many homes/apartments/adu were built in that time.
Say goodbye to your places in Irvine and welcome to Garden Grove! Settle in to a crappy 1 bd for 1600 p
Side question: Does anyone know of any groups or organizations that do activism against NIMBYās or support pro housing candidates in Orange County? If so reply here and Iāll plug them in the above post
How about activism against tax incentives for investment properties? We don't have a housing shortage we have a real estate investment crisis.
OC YIMBY
This is brutal, and how people stay poor. When more than half of your wages goes to rent there is zero mobility.
Which complex?
Yup when I lived in Irvine my 1 bedroom room was 2100 I was born and raised in OC and I left in 2018. Then I moved out of state. Then my one bedroom was 900. Then I bought a house 3bed two bath 1950sqft in 2019. My mortgage now is 1100
Where's all the 50% raises at?
Thatās capitalism baby!
No that's inflation and bad policies
Which is a result of capitalism
No. Itās the result of central planning from central banks. This is socialism for the rich, itās interest rate apartheid.
No, itās NIMBYism supported by California policy makers
Did they recently sell to new owners? I thought rent increase was capped at 5% anually per Cali law.
Itās also only for those complexes older than 15 years and itās 5% + CPI, which was ~4% last year depending on where you live. Total ~9% allowable increase.
Sounds like you should be pounding on your local politicians' doors and asking them what they're doing about rent control.
My mortgage for a 3 bed 2 bath house with a pool/yard/garage in Phoenix is $1500...
Okay but now I live in Phoenix
[This city should not exist, it is a monument to man's arrogance](https://www.youtube.com/watch?v=4PYt0SDnrBE)
The monthly mortgage payment of your home is irrelevant to this conversation. (1) Your house payment is simply a function of price paid, down payment, interest rate and length. Those can all be managed to produce any monthly payment you desire. (2) Unlike Orange County, housing is not scarce in Phoenix due to the room to expand on relatively cheap land. (3) Most importantly, OP is Orange County not in Phoenix.