Best and Worst Neighborhoods to Buy a Home

Biz.Yahoooo.com ^ | Sara Clemence

[ex-Texan]

What is with this 'economics reporter?' I do not understand her point at all.

Is South Central Los Angeles a great place to live simply because home prices have skyrocketed? She ought to have said it's a great place to live because the real estate sharks have taken over. Please pardon my sarcasm. [Learn More Here?]

Who in their right mind would pay nearly a million dollars for a home in a South Central crime neighborhood? Here is a good example of a $ 750,000 California home:

Kind of makes you want to jump on a flight to La La Land with a suitcase full of cash, doesn't it? NOT! If you are ready for a real laugh, just hit those links from the article above. "Best" and "Worst" in whose opinion, was that, anyway?

[Wayne07]

two words: housing bubble

[BureaucratusMaximus]

Is South Central Los Angeles a great place to live simply because home prices have skyrocketed?

Its all about havin da thug rep yo!

[misterrob]

Yeah but you forgot to mention the crack hoes that come with the property.

[Decepticon]

Here is a good example of a $ 750,000 California home:

But, but....it's a great investment...it's not that you can erect that shack in Oklahoma for $30,000, it's location, location, location....

[newgeezer]

Chicago? New York? L.A.?

Best and Worst Neighborhoods to Buy a Home Invest in a House

There, that's better.

[ex-Texan]

The venerable reporter who wrote that report apparently does not understand the housing bubble. Typical of most real estate reporters working for the mainstream print media today.
Somebody ought to sue them all for really BIG bucks.

[durasell]

Here you go, have fun with this one...

http://50gramercyparknorth.com/home.html

[BenLurkin]

I think I saw that house in a movie . . .

[Pompah]

A lot of Horsesh*t. But looks great on paper don't it.?
Two words, Lamb and Slaughter come to mind.

[Decepticon]

Invest in a House..

Let's see, $16,000 in material and labor......$733,500 for the view. Yep, sounds like a good investment to me.

[Richard Kimball]

Unbelievable. I have no idea how the economics of this work.

[Walkingfeather]

We bought our 1078 square foot house in ventura county in 98 for 138,000. We added on another 1000sq ft. It is now worth over 800K. Even if we loose 600,000 in equity, what have we lost?

With that equity my wife and I have started 6 businesses, and we get to work from home and home school our kids. With that we get to be the major influence on our childrens life.

I am not sure we would have that opprotunity if we bought a 60,000 dollar house in iowa that only appreciated 5 % a year.

Living in California has its challenges for sure, but if you love to be outside and active it cant be beat. We can go to the Beach, ski in the mountains and go to the desert all in the same day. If staying inside and only having 3 months to be outside is satifying to you then by all means, don't come to california.

California is where people with a dream come to realize it. It has a culture of discovery and innovation. For me it is important to be in that kind of environment. For people that enjoy the status quoe, it is not a place for you. That is why people think it is worth living here.

[commish]

HMmm Let me see here

$750,000 for a cracker box POS dump former crack house in South Central

or

$165,000 for a 4 bedroom 3 bath 2200 sq ft home w 2 car garage in a low-crime area in Montgomery, AL.

wowzers--that's a real tough choice.

[ex-Texan]

I know Ventura County well. Love your harbor area with it real cool neighborhoods. It was a great place to invest in real estate about 14 years ago. Before the bubble really took off. Now people are moving away from SoCal like crazy. Why? Because they can longer afford housing.

[Walkingfeather]

yes and maybe that happens for 7 years.... then BOOM. It starts all over again.

[GOP_Proud]

At first glance I'd see that house in the picture in South Central selling for 70,000 here. Then I noticed what looks like a detached garage. Whoo Who! Let's make it 80,000...tops.

[Decepticon]

We bought our 1078 square foot house in ventura county in 98 for 138,000. We added on another 1000sq ft. It is now worth over 800K. Even if we loose 600,000 in equity, what have we lost?

Nothing, if you haven't leveraged yourself silly on equity loans up to $600,000, like many Americans, have and are still doing.

[Lx]

Hey, wasn't that place in Boyz in the Hood?

[durasell]

Actually, that $750k house may be worth it if the lot is zoned for commercial use.