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- Feb 20, 2009
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Christ, do people realize what horrendous shape California is in business-wise?
And its only going to get worse.
Do NOT set your sites on California, trust me go live somewhere else in the country and you will enjoy a far higher standard of living and happiness.
Doooode,
My sister is an architect in Venice and bought a one bedroom condo in Century City for like $450K (with $600 monthly fees) about a year ago. I think it's like 700 sq ft. She thought it was a STEAL since they were selling for about $800K in her building 6 months previously (same unit). I told her she was NUTS to spend that kind of cash on a one bedroom condo. Fast forward a year- she was forced to take a 20% pay cut at her job, and can't afford her mortgage. I don't even want to ask what her condo would sell for today.
Meanwhile I just bought a 2,000 sq ft home in the midwest in a nice historic neighborhood with a subway stop 2 blocks from my house and a 1,000 sq ft unfinished basement that will be my home improvement project for the next 4 years. I paid just over $200K. I had to get insurance- they told me it would cost $300K to rebuild the house if it burned down. And I never, ever have to be stuck in traffic ever again.