My parents bought a home in Huntington Beach in a very average family neighborhood in ‘72 for $37k. That house is 3 million dollars right now! My home in Tahoe City I bought for 180k in the early 80s. $5 million today! It sucks ti be young today. No way they can make it without generational wealth behind them.

I live in Tampa. 56 y/o. 60k Gross. 17 years teaching in the district, with double master's.. No kids. credit score around 770. Was told I did not qualify to move into my old apartment which is 675 square ft. The reason is that the rent went from one 1k to 1800 over the last three years. And my 60k income doesn't bring in 3x the rent. IIf I did not own my condo I would be screwed.

When I turned 18 dad patted me on the back and told me I was on my own, must be nice to have family help.

After listening to Scott it makes me want to sell everything and move to California. It sounds like paradise. High home prices, high taxes, loads of homeless people, yep paradise for sure.

This has to be the easiest video Michael’s ever done. You can ask Scott a question and just move out of the way and let him go, lol.

Inheritances.

My late wife and I loved the Central Coast and lived in Santa Maria and Pismo Beach areas for over 10 years. Twice we went under contract to purchase and both times we bailed because the payment scared us so much. So...we always rented and no regrets. Later lived in Florida and bought in 2006, then got a job back in California in 2009. Like these guys, the market had crashed and we could not rent our Florida home to even cover the mortgage, so it went to short sale. Later we ended up in Oregon and again housing started getting crazy and we stayed on the sidelines as renters. Mind you, we both have California real estate license but the math just did not work out for buying. Sadly she was called to heaven in 2019 while we were in Oregon. I'm now in Phoenix, heart broken but still working and putting one foot in front of the other. Phoenix has some areas where you can still get something for 250k to 350k, but very limited. Instead I rent a really nice condo in a great part of north Phoenix near Scottsdale line for $1585 a month with water, sewer, trash paid along with gated covered parking. Once again, I've done the math and had local realtors tell me that I have such a good deal it would be silly to purchase. In the meantime, there will be a day when I return to the Central Coast as both my wife and I requested our ashes be spread over the Pacific at Shell Beach. Of course no need then to own property...

I know a family that lives in Santa Barbara. It started from grandparents buying a property with good size land. The only child took over the house, expanded it. Grandkids and great grandkids are also living in the house. If they sell, they can get a lot of money but they can never buy the same house in the similar area.

Hardly any KZfaq vloggers show or discuss how seniors or disabled people and veterans on low fixed income are surviving in the U.S. They show us these wealthy "successful" people who are worried about making even more money.

I live in LA and have been here most of my adult life. Crime, smog, homelessness, traffic, high prices, the cost of owning a business, property taxes and gentrification are all real issues. The time to invest out here was 2004- 2008. Now you would be lucky to find 1 decent home under a million dollars in Compton. Point being stay away from this place unless you have deep pockets or you will financially struggle. And for those of you who do choose to stay here do your self a favor and buy some steel to protect yourself and loved ones from these thugs who have no respect for themselves or for your property. I am telling you all that this place has gotten a lot worse!!!!

I lived in LA for 10 years and SF area for 11 years and there is nothing more wonderful than CA weather, I miss it so much. I left in 2016 because it’s becoming 3rd world due to the idiot politicians who have created an enormous wealth gap; it’s basically the very wealthy and an increasingly large population of poor. Complete lawlessness. Sold my home in 2016 in a lovely coastal community because there was a freaking shooting a block away. Why would you pay an arm and a leg to live in a state where your children cannot even ride bikes safely in a “nice” neighborhood? Taxes are outrageous and it’s not friendly to businesses so they have also left to states where they can actually succeed and turn a profit. This is why people are leaving in droves!!

What's going on right now makes me think of the French revolution. Rich people are making similar mistakes as King Louie and Marie Antoinette. I'm 70, so I don't expect to be around to see how this plays out. Good luck everyone.

Here too. I bought my first house by myself in 1986. I'll never forget the look on my Father's face. I never asked for any money. But, he upgraded my electric! (his trade). ~ 🦋

Cash is king. All the people that got rich in 2008 had cash and bought the repossessed properties for a dime on a dollar.

It's cool when Mom and Pap have the money and you can take Advantage of it but thats not everyones case. Sometimes you just have to start from the bottom save some money up and be as much as possible responsible with your financess.

I know someone whose parents bought a house in Santa Barbara in 1972 for $54K. He inherited it with no mortgage. It is currently valued at $2.35M.

There are a lot of people who bought homes in the 50’s and 60’s on the west coast and just held on to them. They then pass them on to their children.

He said something along the lines of, 'that it is better to rent and live in paradise, then own and live in a bad place'. Well you never know when your gonna go, so better to live well.

It’s great hearing from people who live in the area, and speak the truth of what really is going on with everyday people.

With the rents going up $500/month, people's incomes did not go up $18K/year.

Besides the taxes and upkeep of a home, Fuel, groceries, clothing, entertainment, insurance, Auto upkeep and insurance, medical expenses, etc. Its so much more expensive for everything in CA.

What I think Scott doesn't talk about is the pride of home ownership. I had a home for over 20 years, then we sold high during the pandemic and rent while the market comes down. We have rented now for over 2 years and can't wait to own again. You can't make a rental your own and it always feels like it is someone else's house.

I wish I could think like this: better to rent then own. But I hate being controlled by the whim of my landlord every year (keeps raising my rent and not fixing anything) He basically gave me the nudge to buy. My rent was essentially the cost of my mortgage interest, so I just bought. The house was a flip, new: kitchen, roof, heater, furnace, paint, bathrooms, light fixtures….probably $15sq/ft more than pre-pandemic levels. Only part that sickens me is having to do 30yr loan (dang interest rate 6.5%). I’ll be paying almost what the 20year mortgage amt would be though.

Scott is right... Once you buy a house, you're always at Home Depot and Lowe's...

The houses are a lot bigger than they were on 1950. Most cars are new with all the options. People take a lot more vacations. Wages are down but living high on the hog has conciquences

Michael is asking some really good questions. I wonder all of the time, not just in Cali, but even in my state how people can afford some of those homes. Living up on a hill or a mountain makes some these prices quadruple. And I always wonder who those people are that buy those homes. But I think they hit nail on the head when they talk about older money. Many people that bought some of these homes that are 3 or 4 million bought them when they were 300k back in the 70s. So they just hand it down to their kids. That's probably how so many people that don't make a lot can live in these homes because they are coming down from their parents.

FINALLY someone equally as honest as you! the LA lady was clearly withholding info, but wow....this gentleman speaks the truth and is not afraid of it. So refreshing!!!

LOL! As a former Santa Barbarian, housing prices have been extraordinary for decades. Middle class workers are commuters from Ventura or Northern Santa Barbara County or UCSB students. As the saying goes, "Santa Barbara is for the newly wed and nearly dead." It wasn't like this in the 1970s. Sad.

A friend of ours inherited parents house in Monticito. Just a basic Spanish style above the shopping district. Sold for 2+, the downside is 4 other siblings, so no way could be kept. Her dad was a teacher, mom was homemaker. Times have changed.

My brother lives in Laguna Niquel and he is retired recently. He bought his house 21 years ago at $250,000 - now selling for $1.25 million.

my parents bought their home in mission viejo in 1966, for $26,000, borrowing $500 from my mom's parents for the down payment. they have borrowed against their home the entire time they have lived there to pay for lots of things, as well as used credit cards. my brother tried to live on his own and was unable to due to his disabilities, so he does live with them. my mom did get a nice inheritance from her parents but she doesn't use it. each of my parents have retirement income, my dad from the teachers union, and my mom from social security. they are in their 80s and their home could be sold today for maybe $1M to $1.5M I live in another state where the cost of housing is much lower but the cost of living is about the same as anywhere else, and even there struggle to make it. I will never move back to california because of how expensive it is.

I mentioned this on your site before....We rented for about a 3-4 year span, x 2 we had to leave because the house was being sold; x1 because the landlord was and ass (got mad because I planted flowers), lastly I bought the condo from the owner who had inherited . Never want to give up my freedom.

I was born and raised in Santa Barbara and unless you have not enjoyed everything that S. B. offers you will never understand why I would love to live there again. One of the most coveted cities in the Country. Thank you Michael and Scott. Blessings, Carlos ✝️🙏❤️😊🇺🇸

I lived in Santa Barbara from 1997 through 2005. I LOVED it, but had to move down to LA because it became too expensive to live there anymore.

Excellent interview. In the early 80s I had a girlfriend at UCSB and I said Santa Barbara was the future of CA, Rich and Poor. I have no resentment towards either of them, but where is the middle class? As Scott said, it doesn't really exist.

The climate in california is so conducive to enjoying the outdoors year round.

Santa Barbara used to be an affordable college town. I used to drive up there with my dog every few weeks and stay at a beachfront hotel for $99 a night and walk the town and go up to the beautiful dog park on the coastal bluffs overlooking the ocean in the Michael Douglas preserve, walk the town, and eat at the great restaurants. It was affordable, dog friendly, safe, beautiful, and fun. This was 20 years ago. Now...

I think there are a lot of foreign (wealthy) buyers that just want to live in SoCal, period. You get the benefits of the U.S. with a Mediterranean climate. I lived in San Diego for 5 years and saw this a lot.

Wow, I've learned more in the one week watching Michael's post than years of being a homeowner. Scott was a great addition today. And earned a new subscriber. Now, if I could only get my wife to listen to their advice and direction. Appreciate you gentlemen. Keep em' coming.

I am curious they never mention that rent always goes up. But 30 year fixed is steady.

So when I’m broke and homeless, I’m headed to Santa Barbara.

The class divide is getting larger and more extreme. Any family making less then 200k is struggling right now. We make less than that and by the end of the month we are broke. We got lucky and bought a home in 2015 right before prices exploded. Are home has doubled in value since then and our income has not gone up at ALL. No way we could afford our home today. It would cost 2x as much and the interest rate is almost 3X as much. Our payment would probably be 3X as much as it is today. I am trying to get my wife to sell it and buy land with cash and live in a trailer we park on it.

If you weren't in California around in the 60s, 70s, you missed the DREAM .. Only High Rollers Living the DREAM... NOW..... 🍷

In LA studio city you will have to pay over 1.5 million dollars for a house. If you step outside you might find needles and homeless man sleeping front of your yard.

Unpopular remark, but a fact. A lot are rich foreigners, like Chinese moving their money out of China. Where do you think all the dollars from outsourcing our manufacturing end up?

Love Scott’s podcast. And he’s right about buying a home as a tangible investment opposed to keeping it in a bank. My wife and I combine for great income(s) which would allow us an amazing lifestyle for half the cost outside of California. We refuse to buy anything in LA and pay more than 6k in mortgage/insurance. Meanwhile, we’re looking to invest in multi-family properties elsewhere.

I don't envy anyone who mooched off mommy, daddy or any other family member. My parents made an average living and worked hard. I remember when I was 21 (30 years ago), and bought my first house. My parents were so proud how I managed my money and worked hard to save at such a young age. They wanted to give me $8000 towards the down payment and I refused it. They were like, why? I told them to put that money towards their retirement. My dad was self employed. They did surprise me with a nice refrigerator, though🤣

Here’s something most people don’t know: when a place like Santa Barbara has its own bankruptcy court then that should tell everyone a red flag about that area!

It must be nice and sweet, for example, to be in a profession and condone or take advantage of a madness or craze which is fundamentally unhealthy, and then get out of that profession and THEN preach to the world how that thing which made one money was unhealthy/mad/crazy....such sweetness.

I remember the good old days. Sears,circuit city,comp usa.

I believe I bought at a good time, August 2020, and mortgage 3.35%. I could probably rent a studio apartment (every year guaranteed rent increase) for what I pay monthly for the house. I don’t want to move until I physically can’t live here anymore. I can’t believe this was a mistake.

My brother went to UCSB, he took me thru a 20 min hidden hike area which was connected to a beautiful beach were only the locals know about and there were miles n mile of beach that looked like heaven with not a lot people maybe 10 walking around.

Greetings from Nova Scotia, Canada. Here in the east coast we are dealing with extreme price increases with homes that is widespread throughout this country. I foresee some ugly times ahead for all of us. Paid for my house in cash recently as i too worry about holding the majority of my assets in cash, a severe crash will bring on something none of us could even dream would happen. Bless all my brothers and sisters.

Many people are living on those boats in your background these days. Cheaper to pay doc fees than mobile home park or rent hard surface premises.

Michael, to answer your question of "Who are these people"' Many are Chinese nationals. For several years they have been scooping up premium and not so premium homes in SoCal. They enter deals with large amounts of cash. The sellers cannot refuse. Many times the Chinese offer above asking price. The demographics have changed drastically because of this. For example, check out the ethnic makeup of cities like Cerritos, Palos Verses and Rolling Hills. The Chinese have deep pockets and are buying all the good homes, leaving native Californians out in the cold.

I've never seen this side of Scott. Good to see you guys out there. I lived in Santa Barbara County for my entire life and just moved / work in San Luis Obispo County. It is extremely unaffordable here. The working class in Santa Barbara are pretty much slave workers at this point serving very wealthy people. They will never be able to afford a better quality of life. I think they should leave and let the service industry die there. The money doesn't trickle down. I don't know how low income earners survive there.

I’m from SoCal, San Diego area. It’s my home. It took a lot from me to decide to move out to Vegas. Yes it’s always been more expensive to live here ( call it the snob tax). But I really needed a break from being taxed to death. Newson & politicians here (remember, Cali is a 1-part state) have gone out of control, adding taxes on taxes, which is illegal, but they use euphemisms like “No it’s not added tax, it’s a “surcharge”, a “temporary fee” to cover X or Y”. So I didn’t go too far, but I needed that financial breather to save $ & have a life. I miss home, and it’s criminal that Cali natives like me had no other choice than leave our home bc these politicians have gone mental & destroying our state. And no, I didn’t vote for any of these fools. Gonna go back in 3-5 years & buy smthg small I can pass on free & clear to my kids so they can live where they were born, bc they’re not likely to afford to buy there.

I'm leaving CA too. This was once a great place to live, but is circling the drain with the taxes, homelessness, crime, and high cost of living. I can't wait to get out of here and live in a first-world country again.

I live in Santa Barbara CA. I bought in 1994 2.795.M. Beach Shores property. We have homeless in once called backyard view of beach. We have a serious matter in this community. Yes. The city has shelters, free meals, healthcare at our local hospital and I just don't know all they get. But do they set up tents on beach? Yes. I live here and see it daily. It's to the point my wife and I don't walk the beach. My security camera is always on and we took CCW permit in on County. Welcome to California.!!

Moved to Florida in 1984. Rent for our 1st apartment was $200!. Bought our 1st house in 1992, pre-owned 3/2 1100 sq ft for $69,000. Sold it 2 years later and upgraded to a new construction 4/3 , 2100 square feet for $129,000. Lived there 19 years ! Sold it in 2013 for $250,000 and downsized to a town house 3/2 1700 square feet for $156,000. Almost paid off.❤

I have essentially been out-priced in this market. Had a great home in the mountains at 3.7%. Lost everything in a divorce in 2020. Now I cannot get back on my feet because investment firms and people out of state buying up all the homes in my state, driving up the prices. It's more than disheartening after everything I have been through the last 3 years.

Foreign buyers. Every wealthy person from all over the world wants a house (or multiple houses) in Southern California. They are typically cash buyers. Then you have Wall Street buying up every single family home and holding it as a rental which also drives up prices.

2300 sq ft home, all brick with 2 car garage 2 under roof nice size front and back porches. Another unattached 2 car garage. Stone on floors of porches. Real wood cabinets and floors throughout. Bedrooms berber carpet. 2 bath, 3 bdrooms, large greatroom with 12 ft ceiling, other rooms 8 ft ceilings. On just shy 1 acre of land. Jerusalem stone Fireplace in greatroom. Large laundryroom with shower and cabinets, plus small computer room. Built 15 yrs ago. Built for less then 300,000 dollars. No mortgage. Property taxes around 3200 yr. Live in small rural community not far from hospital, grocery store, etc. About 10 minutes away. How much would you pay? In southern, Ohio about 15 minutes from main town and Ohio River.

And here's my rant..in addition to the leaf blowers at all hours, workers constantly pounding, dog shit, people are now in the middle of the night unloading furniture, mattresses, etc, and car seats by my garage at 1 am. City has to be hounded to pick this crap up. Society has gone to hell.

I’ve lived in Northern California for over 40, it’s not as it use to be , I love my area in California hate the politics!!!!! 🇺🇸there a lot more republicans in CAL then you think 🇺🇸( I couldn’t buy my beautiful home I have now ! Thank GOD it’s paid for )

Great video. I live in Cali and its working more living less for the averagr family. The amount of money some people have is shocking in California. A million dollar plus home is like a normal thing. If you dont make 400k plus you will not live a decent life. You will feel poor. I need to move to the midwest for sure.

I like that saying in that it's important to own but you don't have to live there. In my area, there is very little housing inventory and not a lot of apartments available. There has been a lot of consolidation of rentals among a few large players and it results in severe pricing power with some landlords willing to leave apartments empty for a while to maintain rent prices. So the pace of annual rental increases is what puts so much pressure on housing prices. Regarding who buys this stuff: I used to work in a building where most employees had at least a masters degree. The building was full of engineers and most employees were millionaires. Some 10 millionaires and one 100 millionaire. The stock price went up by ten times over a period of 25 years and the CEO owns at least one island and probably dozens if not hundreds of homes. People look to move to Massachusetts for the schools, and healthcare. Young couples with kids or planning on kids want to buy a place with great schools and they either earn enough, have stock options or family money. And then they look at the various areas in the state to fit their budget. If they have one. Is it a bubble? I don't know. But ordinary people are screaming about rent prices. On Malls: our main Mall has Target, Macy's, Dicks and Apple as the main anchors and it's doing fine - mainly because of a sales tax differential with a neighboring state. Costco is near that mall and Costco is crazy crowded, both in the parking lot and in the stores. We do not have a lot of homelessness but it tends to be concentrated in the cities. We only have a few small cities in the state and the state does not provide a lot of social services so it's not an attractive destination. It gets really cold during the winter (it's going to be 21 degrees this morning here and it was -20 here about 6 years ago). We get a foot or two of snow from time to time also. I've driven around the country and the amount of wealth in this country is unreal. I think that you can find wealthy areas in any state and you realize that it costs a lot of money to buy or build and also to maintain the properties.

Santa Barbara is mostly old money. If you have been fortunate enough to inherited money or real estate decades ago in there you are in luck, but a newcomer forget about it unless you are making ton of money.

Looking to buy in Florida but prices in some communities have almost doubled in last 3 yrs coupled with rising HOA and real estate taxes and insurance issues - renting instead might be best option Thks Mike!

I used to live in that area in early 2000's. Similar to what Scott said, I felt like I was 'playing' all the time. Riding motorcycles, flying airplanes and gliders in Santa Ynez, sailing down there by the SB harbor where you were walking, skydiving in Lompoc, mountain biking, hiking... It is a great area. I was a home inspector for a brief period also. It was too physical for me as a small female though, so that didn't pan out. I wonder if I crossed paths with Scott.

“If the American people allow private banks to control the issue of money, first by inflation, and then by deflation, the banks and corporations that grow up around them will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” - Thomas Jefferson.

Santa Barbara used to be nice about 40 yrs ago, now the traffic is just like Los Angeles and too many people.

Walter and Michael. This gotta be a classic! Great to see you guys together. California looks very nice

Love your guest have seen him many a time he tells it like it is. CA native here and yes the policies are out of hand with all these idiots that have been voted in, most major resort beach cities, LA AND SF are screwed w. homeless and addicts running amuck. Most of my CA relatives have moved to AZ and NV and got the hell out of CA

I lived in Ventura when I entered 5he Army. That was 1968. We often went to Santa Barbara. It was a beautiful area and although populated but not crowded. Certainly no off shore drilling rigs. At that time I never thought of things as unaffordable. Seems things really changed in the early 70s.

I just saw a job for a Santa Barbara cottage hospital based cardiologist making 600k probably up to 800k and that’s with relocation of 50k and 300k loan to buy a house They still can’t buy much in Santa Barbara or Montecito

Great video Michael about the time you were filming I was across the harbor having lunch on the wharf outside at SB Shellfish Company. Nice to see Scott out with you for a walk! I love your walk and talk format. Welcome to Carpinteria and SB.

We have come to the same conclusion. We can rent out house out for more than our mortgage. We plan to keep the house and rent elsewhere

He was great; very good interpretation of what's up in The Golden State. Miss it terribly, born & raised in NorCal. But it's not the same treasure it was 25-30 years ago, sadly.

I live here and was born here and have seen the HUGE change that State Street has gone through and how the city decided to keep it close for 6 years...that is not sustainable by any means. They need to reopen the streets, renegotiate rent prices that would allow for businesses to thrive. Not only that but if we keep catering to tourists and have nothing of value to do so then why would they come here but on the other hand there's hardly no jobs left either and nothing for locals to do. People say they prefer it to be closed and have the city lose more and more of its charm but at the same time there's bunch of foot traffic...um either im blind or i can't see where the so called foot traffic is as I've been down there during the week and sometimes on the weekend and it's pretty much like a ghost town. But oh yea let's create more hotels that need to charge exorbitant prices but for what if there's nothing left either for locals or tourists. I remember we'd have live music and food trucks up and down the boulevard during spring summer times for people to enjoy now you're lucky if we even see any sort of event happening at all. Make it make sense.

Ty, Michael 4 meeting up with Scott! I'm glad 2 see views from all angles and helpful advice all around! ✌️ *

Santa Barbara - it doesn’t get any more beautiful than this city! I’m watching this video a couple more times just to take in the view.😊 Thanks to both of you for this VERY informative video. I’m in love with this part of the state. 💕💕💕💕! ✨✨✨✨

I'm in the Seattle area. Single, no kids, and make a bit over $200k. Unless I wanna get into a 2bd condo, I can't afford houses unless I go an hour outside. I technically could, as banks are pushing for ridiculous DTIs, but I'd be dumping at least half of my gross pay into housing. My boss makes even more but they are even renting rn. We're all just watching the rates go up and up and it's been out of reach for awhile now. Either the rates get cut in half, or prices have to drop more significantly for houses to be affordable. Nobody wants to sell because they'd be getting into sky high rates at their new place. And nobody wants to buy when things are still in flux. I'm waiting at least until winter of 2024 to see what happens but for the foreseeable future, I'm not in the market. Luckily my rent is only $1,500 for a 1bd/1ba apt. Saving a ton of cash.

I bought a house so I can paint and decorate as I see fit, I can have cats and a dog, I don't get displaced every time a landlord wants to sell the property, my taxes go up slower than the rental market in my area, and I have paid off 40% of the mortgage so far and have about $500,000 of equity (we bought at the bottom of the market). My mortgage with taxes and insurance is about the same as a 3 bedroom rental in the city. I have water views, a private community beach and walking distance to the shopping/dining area. My family is lucky, I realize this. I feel so bad for new buyers today. I appraise houses and it amazes me how many people can afford a $5000 - $6000 mortgage.

We are already in a depression Scott. Sorry to burst your bubble. The recession was last year.

Mr. Walters should say the following: If I WERE to buy more housing, NOT was. It is subjunctive. Michael should say the following: my mortgage payment is lower than if I WERE to rent, NOT was. It is subjunctive.

My brother tried buying a finished home and for what he would have to pay for a shack he decided to build new and spent 3 years and a million $$. House is now worth 3 million.

When we bought our house my dad begrudgingly gave us $2,000, the same for our wedding. His mother gave us $2,000, but not so much for our wedding. We provided the other 16k after 5 years of employment each. We were so thin, hardly ate. I worked 2 jobs. It’s now 1/3M. It was worth it. Good schools.

Cali has been a 2 income state for a long time. 2 incomes is common in apartments when rent was $800. You need to have experience to start your career. I had to volunteer to become a Security Guard in 2007 to get the experience to become a paid security guard. At one point you needed to have CDLs to be a metermaid. Young people should have been left Cali a long time ago. California has been a tough state to live in financially.

I was born and lived in California for over 50 years. It was a great place to grow up and live. Santa Barbara is one of the wealthiest cities in The United States. My wife worked for a large hotel there for over 20 years. We lived there for a year. We rented a pool house in Hope Ranch. It was awesome, they have one of the only private beaches in California. If I had at least $30 million I would live there. But I don’t. We moved to Texas back in 2015. I’m not sure anyone in their right mind would move to California unless it was job related. It has lost its luster and a lot more. Try going to “The Habit” for a good burger, there’s a couple in SB.

Can so many people really have inheritances though? The amount of money going in the real estate market is stunning!

Look up into the hills above that harbor and you'll see avocado groves. I was in the Navy with a crazy helicopter pilot whos father owned them. When I transferred from San Diego to San Francisco, I was living on a boat and I sailed up the coast and spent a few nights in that harbor. The original Motel 6 and Sambo's restaurant were in Santa Barbara. Like Scott's ideal of owning somewhere but not necessarily where you live.

"299" . Hope everyone having an Awesome day / evening !!! 2:10 - 2:28 I totally agree with that . Soon everyone homes will be worth $1 Million Dollars , if the prices keeps going up. Example the homes around here started with $140K - $204K Now these same homes are going between $400K - $650K just with in 2 years ago - present time. In other subdivision homes, there prices moved up between $400K - $700K We are not talking about McMansions either, just your typical home. One of the bigger homes in another area, 5,000 sq ft , there prices were $300K - $600K now they are $600K - $1 Million or more . All Since Covid 2021 /2022.

Forget Santa Barbara...just down the road is Ventura and the prices are still reasonable there. Further down the road is Oxnard and very cheap there...same weather and views as Santa Barbara.

US population 1950 151,325,798 today it is 339,996,563. More than double. Why isn't the media talking about this? Doesn't this mean anything? Supply and demand...

Yes, my friend’s parents built there in the 40’s. He inherited the home after they passed. He has since passed and the home sold for millions…it was designed by a famous LA architect which added even more value. It was a beautiful early mid century modern home.

Sorry renting is throwing away your money ! Your making your landlords rich!

Awesome video. Shame dan the man didn't do a interview. If you own the house/ property lock stock and barrel and can pay upkeep taxe etc you're safe. Most of us aren't. Good job

In NJ the rent is through the roof! But now the houses for sale are outrageous as well. Unsustainable.

I don't rent homes/condos -- I rent apts, and usually in an upscale ("luxury") Class A apt complexes. Consequently, I don't do what Michael and Scott do: Compare what a property I'm looking at to buy would rent for in order to compare it with its house pay't were I to buy vs. rent it -- I wouldn't WANT to rent it, I'd only want to BUY it. So instead, I want to see how the house pay't compares to my apt's rent. The goal were I to buy is to pay less, same or (only) slightly more than my apt rents for -- meaning the rent AND the extras added onto apt rent (trash,sewer, gas, electric, water) -- whatever that TOTAL monthly pay't is for my apt. And also considering future rent increases every time I sign a new yearly lease (as apt rent almost always goes up even if the amount varies). For decades (probably) it generally was cheaper to buy a house then rent an apt, even given the lower apts rental rates back then as house prices weren't high like now and interest rates were WAY lower then, too. Then OR now, I'm talking about nice new/newer apts in a nice "upscale" part of town, not some dive apt in low-rent/sketchy crime-ridden areas or even in a "transitional" neighborhood (who would want to live in THOSE parts of town if they didn't HAVE to). TODAY, however, it's not that clear even though apt rents have gone up big-time as well, which SHOULD encourage someone to BUY vs. rent, because nowadays houses are high-priced as well. Still, that'd be MY "comparison equation" to determine (meaning only $$-wise, not the OTHER factors one has to consider: Quality of life issues, location, demographics, politics...or just the "vibes" you get from a neighborhood/subdivision) to decide whether to stay a renter or become a buyer. So in 2-3 years, that's what I'll be doing (looking at the housing market in CO (Springs): If I rent an apt there, in my usual upscale complex, how does the rent (which will be high, as upscale apts in CO are expensive!), how does my total monthly apt rent pay't compare to the total monthly house pay't were I to buy it? I won't know those numbers until the time comes, as who knows where the housing market is come late 2025/early 2026. But that's the plan -- I'm waiting. -- BR