Can 4 Young Adults Afford To Live In La

How do people afford those expensive apartments or houses in Los Angeles?

Housing and apartments in LA are prohibitively expensive in 2019. Real estate prices keep increasing. I don’t know when it will all crash — Google is moving to Pico between and Overland and Westwood Boulevards in West LA. Housing prices have already jumped. And they’ll be jumping even higher.People afford expensive housing and pricey apartments in a number of ways. I have seen all of the following:They share space.They work and live in as a caretaker or assistant of someone with space in a spectacular home or guest house located on the property.They entered the housing market long ago, when it was much more affordable.Once they find a rent controlled apartment, they never leave it unless they die or move out of LA.They sublet.They marry someone with property and live longer than their partner, inheriting the property.They are children of someone with property who died; they inherit the property.They are related to someone with property and they are living in the guest home on the property.They spend most of their income on rent and never go anywhere else (‘why travel when you already live in heaven?’) nor do they spend significant income on anything else, thus prioritizing the place where they reside.They are high income earners and can afford outrageous rent or ridiculously high mortgage payments.They are living in company-owned housing and employed by the company. For example, the Chancellor of every University of California campus lives in on-campus housing provided by the University of California. The homes are private and spectacular.They are part of a program. For example, I met architecture students from USC who were studying and living at The Gamble House, an historical and exquisite Greene & Greene-designed home located in Pasadena.

How can disabled people, or seniors who can’t work, afford to live in Los Angeles?

it’s called Section-8. It’s based on ability to pay, or your income level, you pay a percentage and the Gov’t pays the balance. if the rent is $2500 and you can afford to pay only $1600, the Gov’t pays $900; or you can flip that, if you can only pay $900, then the Gov’t pays $1600.Where does the Gov’t get that money? the rest of us pay and subsidize that via our sales tax, state income tax, and property taxes.CA has one of the highest state income tax in the country. between, State and Federal and all the other paycheck deductions, you’re lucky to see 60% of your paycheck as net take home.if you like this answer please give me an upvote below - Thanks

Why do I see young people in the ghetto with expensive cars?

Please understand when I respond Im not doing it with any intent to be racially offensive I am only trying to give my opinion as I can best explain.I grew up in different areas of South LA some cities where its as high as 95% hispanic and some that are predominantly black & hispanic and have also lived a few cities that were an even mix of white, hispanic, black, asian etc.What I can tell you from having lived in “ghetto” cities is that with allot of the youth there is the mentality some would refer to “hood rich” or “ni**er rich” - again Im not trying to write that in a offensive manner but its a term you would hear in hip hop music or certain South Central Los Angeles cities.It wouldnt be uncommon to drive down a street in a lower working class neighborhood and see newer BMW, Mercedes, Range Rover, Escalaide etcWhen I was old enough to work and buy my own car, I was a typical struggling teenager working to pay for my plain little chevy S10 truck and Id see people down my street ( or in the apartment complex) with a 50k car on 10k rims and a 5k Sound system and wonder wtf how are they doing this?Its a matter of priorities. Image means allot to certain people - that isnt aimed at anyone based on race, Ive seen it with black, hispanic & white people in areas Ive lived. Some people would prefer to spend all of their money ona a flashy ride vs say investing money or saving to buy a house in a better neighborhood.People would always had nice clothes, nice car but struggled to keep their rent or cell phone bills paid. It mainly a guy thing I feel but some dudes would spend every last dollar, max their credit out just to LOOK like you have tons of money … but live in a 1 bedroom apartment.At the risk of sounding like an old fart - Its cuz of that hip hop music!This song was big when I was in high school. I feel it sums up exactly what I am trying to say:Gator Boots, with the pimped out Gucci suitAin't got no job, but I stay sharpCan't pay my rent, cause all my money's spentbut thats OK, cause I'm still flygot a quarter tank gas in my new E-classBut that's alright cause I'm gon' ridegot everything in my moma's namebut I'm hood rich da dada dada da

How do people afford million dollar homes in California?

They are leveraged to the hills! Literally the hills… Laguna Hills, Woodland Hills, Hollywood Hills…Living in California is awesome. There is great weather, endless outdoor activities, great food, beautiful people, fresh produce, etc…But it is damn expensive.In most of America, and the world, a million dollar house would mean that you are living in a palace with fancy cars and a full on staff of workers.In California, living in a a million dollar house doesn’t mean squat.Ever hear of “house rich and money poor?”That’s most of California.People are willing to pay that price for the quality of life they want. Is that crazy? Maybe.But you could also say it’s crazy to live in a place you don’t like.So how do people afford to live in California?Like I said before, they leverage themselves big time. They take out huge loans to buy houses.They also work several jobs and hustle as much as possible. Any newcomer to LA or SF can vouch for how hard it is to break in to the workforce - it’s ultra competitive.Of course, not all of California is expensive… but a lot is… and people are willing to pay for it.