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.
@Andromeda_M312 ай бұрын
Also sucks to pay property taxes on those valuations.
@bobs55962 ай бұрын
how do you afford the prop tax/ins bills? i would be evicted by the govt if i had to pay 20K tax every year.
@mikesmith64612 ай бұрын
2bd hse
@JS-ny9ge2 ай бұрын
@@bobs5596 ready to be more bothered. In CA property tax valuations are capped at no more than 2 a percent increase per year. So, you can have a million dollar house and pay less than 1k a year in property taxes. This is because it is being taxed on a 100k valuation. If you bought the house originally for 30k years ago.
@bobs55962 ай бұрын
@@JS-ny9ge well that sounds good for californians, but my prop taxes are not capped, and have gone from $69/year 1980 to $3,800 today. it's like i'm buying the house all over again.
@consumerdebtchitchat Жыл бұрын
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.
@noreenn6976 Жыл бұрын
They don't factor in money in savings when qualifying people?
@Resmith18SR Жыл бұрын
I know so in the US now you need to show 3 times the rent amount to even qualify for that shitty 675 square foot apartment. So if the rent is $2,000 a month you must have a minimum monthly income of $6,000 a month or $72,000 a year. Plus they want First, Last, and deposit. $6,000 a month just to move in. That's why I retired and moved to Mexico and pay about $400 USD a month.
@Janevelyn Жыл бұрын
@@noreenn6976no they don’t and just how much do you think an educator making $60k has sitting around in expendable ‘savings’???!!????
@Janevelyn Жыл бұрын
I’m going to hopefully escape Tampa soon I say that cuz I hate it here anyway then I can’t even afford to live in my hometown where my parents are elderly, but nobody likes to be forced out.
@Janevelyn Жыл бұрын
Glad you own your condo. You’ll be better off than most of these idiots when the stuff hits the fan, trust me.
@dickjones8119 Жыл бұрын
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.
@snusinsky Жыл бұрын
No way I believe all these mommy’s & daddy’s help! That’s total BS. They are greedy and miserable themselves all these parents today. Never ever heard or seen any of this! Most people I know hate their parents or don’t speak to them so there is no way of this $$$ changing hands the way they are saying!!! Lotto, maybe!? 🤔
@VictoriaQuitane Жыл бұрын
Same, I’ve been working since I was 13 1/2 just to buy myself a bike.
@timhazeltine3256 Жыл бұрын
@@snusinskyI guess you haven't experienced Santa Barbara or Montecito.
@ultramindcontrolrealzz836710 ай бұрын
Its mostly liberAL POLITICIAN FAMILIES THE ELITE
@alipainting5 ай бұрын
Same, left home in 79 with $50 from both parents. Also worked since 13, but bought myself travel. So I was ready and prepared to go far far away.
@Norm475 Жыл бұрын
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.
@DIVISIONINCISION Жыл бұрын
Lots of crime, too. Don't forget that!
@Skepticismistheway Жыл бұрын
And absolutely no right to defend yourself from the homeless and crime
@billredding2000 Жыл бұрын
Yes, Norm475, move there as soon as you can...hopefully you'll be just in time to be taxed to raise money for "reparations." I'm sure you look forward to contributing (even if involuntarily) to such a worthy cause so move quickly before that opportunity is gone. ;-) -- BR
@jogregg6442 Жыл бұрын
@@DIVISIONINCISION Probably not too much in Santa Barbara. For now.
@maplenook Жыл бұрын
Great governor too!
@boondoggle4820 Жыл бұрын
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.
@noreenn6976 Жыл бұрын
😂
@jimshoe402 Жыл бұрын
That means he is a Pro lets Others get the lime light..🤑🤑🤑
@SteveAaroe Жыл бұрын
And then just wait for the monthly AdSense payment (~7k/month) to hit the bank. Just ride around talking and live like a tourist
@loveyourtie3 ай бұрын
Sometimes keeping mouth shut is harder than stay silent.
@prettygirlus9008 Жыл бұрын
Inheritances.
@AJourneyOfYourSoul Жыл бұрын
Right off google, TRILLIONS!!! Baby boomers and the silent generation will bequest a total of $84.4 trillion in assets through to 2045, with $72.6 trillion going directly to heirs. The transfer of wealth from baby boomers will account for $53 trillion or 63% of all transfers, while the Silent Generation will hand down $15.8 trillion.
@catladynj Жыл бұрын
Trust fund babies
@certifiedfinest5065 Жыл бұрын
@@catladynjhow do we become one?
@LynxStarAuto Жыл бұрын
@@certifiedfinest5065you got to sacrifice and build a trust to leave your descendants
@BruceLee-xn3nn Жыл бұрын
Doctors, lawyers and a police officer from NY own multimillion dollar houses in Panama city Beach. Friend of mines husband is on an environmental law team for Exxon Mobil and that mofo makes killer money.
@lifewithjackandnicole Жыл бұрын
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...
@kenetic1228 Жыл бұрын
Hopefully didn't bring the Cali politics to Phx
@lifewithjackandnicole Жыл бұрын
@kenetic1228 I'm a native of Tennessee if that tells you anything.
@greggonzalez859 Жыл бұрын
Peace to you brother and may your wife rest in peace. Thank you for sharing.
@WEANDK Жыл бұрын
What's the square footage of the fifteen eighty five a month
@kanlee9667 Жыл бұрын
Scott touched up the biggest culprit for high CA real estate prices IMO. In general, excessive money in the system causes inflation. And people with capital look for ways to get a return on their capital. Capital has gone into the stock market and it's probably overvalued. Capital has also gone into real estate. It has effected those towns with the biggest name recognition the most. Compare Santa Barbara prices with say Provo, Utah (also a very nice town). So is Santa Barbara due for a crash? I think prices are going to be sticky out here, or at least stickier than they should be (think of San Francisco with all its problems, prices should have crash dived by now, but it hasn't). Unless capital is in danger or has a better place to go, then why would it give up on prime real estate?
@33Jenesis Жыл бұрын
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.
@Resmith18SR Жыл бұрын
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.
@redrustyhill25 ай бұрын
Many are not surviving. Self deletion is the highest its ever been with discarded veterans.
@krissyr33933 ай бұрын
Probably homesteader type channels as they do lots of thrift. I'm more concerned seeing these guys not wearing hats, melanoma is no joke, even if you rich it can take you out in months after diagnosis.
@dennis37393 ай бұрын
What is average vet pension? Most I know are well north of $40G.
@redrustyhill23 ай бұрын
@dennis3739 depends on rank and time in service. Retired officers are making 6 figures. Any "vet" getting low pension wasn't in very long and never gained rank, It isnt a pension they are getting, its disability benefits.
@alexiaalexander27563 ай бұрын
just a bunch of middle age hipsters talkin' bout how smart they are...not the majority
@marshallhennington4369 Жыл бұрын
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!!!!
@philmarsh772310 ай бұрын
LA can still be great for interesting high-paying jobs in technologies. I like LA. Good climate too. Don't own there, but rent a bedroom and bathroom from a homeowner and own your base house elsewhere. Don't drive a car in LA.
@paulconner46145 ай бұрын
I always find the crime discussion interesting. For example if I was to compare per capita crime in LA (violent crime is 8.38 per thousand, property crime is 27.53) against say Tulsa Oklahoma (violent crime is 9.25 per thousand, property crime is 42.63) or say Lubbock Tx (violent crime is 10.7 per thousand, property crime is 42.52) or Jacksonville, Florida (violent crime is 12.43 per thousand, property crime is 51.56) it compares very favorably. (Note the last 3 are all medium sized Republican towns in states that have been run by Republicans for decades).
@TheAlexa6 Жыл бұрын
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!!
@hotelcalifornia715 Жыл бұрын
It's not the politicians who are idiots 😅 it's the people of California who keep voting the same political party that has transformed California into a Venezuela
@DIVISIONINCISION Жыл бұрын
If you live in a place due to weather, even if you are living in a box or sharing a place with roommates, you've already lost me. I grew up in Cali. I would never move back there. I like owning a nice house in the suburbs, two cars, comfortable lifestyle. I would have to be a Millionaire to live my lifestyle in California. Seriously.
@DIVISIONINCISION Жыл бұрын
@@hotelcalifornia715 Bingo. It's the people. Tons and tons of liberals. They're OK with riots, looting and crime. They are voting for it.
@Ally-vs1ze Жыл бұрын
Multimillionaire because millionaire is nowhere near enough today! @@DIVISIONINCISION
@aylmer666 Жыл бұрын
thanks for sharing my story - Cali certainly had better weather than Alaska or Nevada BUT it's friggin BORING. I live in Georgia now and actually like that it rains in the summer and gets kinda cold in the winter. The 4 seasons are good for a sense of the passage of time.
@peggyporter2135 Жыл бұрын
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.
@LilyGazou Жыл бұрын
I have friends who are over 100. So enjoy!!! Lots to look forward to. People will need your wisdom.
@SunofYork5 ай бұрын
I am 76...are you trying to give me a boost ?
@Michael_RareZebra4 ай бұрын
I'm 50 and dual-citizen French/American. I've been thinking this for a while now!! The separation between rich & poor is expanding. I may see how it plays out within my lifetime.
@SunofYork4 ай бұрын
@@Michael_RareZebra ...and that is what triggered Fascism in Germany in the 1930s... Fasten your seat belt for November...
@thisvagabondlife71324 ай бұрын
I’ve been saying this is the lead up to the next French Revolution and heads will roll
@ukulelebutterfly Жыл бұрын
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). ~ 🦋
@jimshoe402 Жыл бұрын
Me too Kid I was 21..😁😁😁
@samnangthim69494 ай бұрын
1986 2024. Apples and oranges
@jimspence715 Жыл бұрын
Cash is king. All the people that got rich in 2008 had cash and bought the repossessed properties for a dime on a dollar.
@tizzx4945 Жыл бұрын
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.
@kurts674111 ай бұрын
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.
@dead28023 ай бұрын
Thats what they say its worth now. Give another year, possibly 2 and it wont be worth anything. Am seeing even Working Homeless everywhere. No longer affordable housing. Affordable Anything! By Design.
@JS-ny9ge Жыл бұрын
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.
@JS-ny9ge Жыл бұрын
My Father in-law. First generation immigrant, German woodworker. Built three houses from scratch, rented houses and held some of them for literally 60 years. Squeezed every penny. Still drives old beat up cars. He is 84 now. All on the coast. You could not lose if you can keep a coastal home long term.
@JS-ny9ge Жыл бұрын
You could buy a brand new home in Huntington Beach for about 30k in the 70’s. Now it is worth 1.2 million. Crazy. My father in-law said you could buy in Palos Verdes for around 50k when they were built. They are now worth multiple millions.
@JS-ny9ge Жыл бұрын
My wife pointed out there are also a huge amount of international buyers. Safe place for them to park their assets.
@mikesmith64612 ай бұрын
@@JS-ny9ge1bdrm
@peterpan9643 Жыл бұрын
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.
@petersheenan4482 Жыл бұрын
so true
@dougdownunder56222 ай бұрын
Try renting at 75.
@cleanasdirt6832 Жыл бұрын
It’s great hearing from people who live in the area, and speak the truth of what really is going on with everyday people.
@ericbentsen1785 Жыл бұрын
With the rents going up $500/month, people's incomes did not go up $18K/year.
@noogman Жыл бұрын
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.
@PHILDRU911 Жыл бұрын
All the "joys" of home ownership.
@BruceLee-xn3nn Жыл бұрын
99 percent of people on Internet complaining about high rent or food and gas are from Commifornia or some other fkn blue area. You should have moved 20 years ago, Commifornia has always sucked.
@ag4allgood Жыл бұрын
The weather looks great & when I was there visiting it was almost perfect everyday. If you can avoid the natural disasters ( wild fires / mudslides / floods / droughts / Tsunamis ) then it makes sense. Even the Homeless working class there living in their vehicles at organized encampments don't want to leave.
@superstringsbro Жыл бұрын
Tsunamis lol true tho. I’d rather live modestly here than rich in New Mexico or Georgia 👍
@DonnaPrimaАй бұрын
New Mexico is beautiful!!!@@superstringsbro
@bswal1 Жыл бұрын
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.
@capt.swarvaski1545 Жыл бұрын
@bswal1 that’s what I did. Sold my beautiful house in late summer 2021 and walked away with $480k after all was payed off. I currently live with my in laws that payed off their nice and ample home years ago. However, I reallllllyyyyy miss my home. Everything I see it so ugly and beat down. The money wasn’t worth all the change 😔
@michaelkelly7635 Жыл бұрын
Pride of ownership is a oxymoron. It's a common term used be real estate agent snakes to get you to buy. It's meaningless dribble. A home is what you make if it. It's sticks n stones and is basically meaningless
@johnjaco5544 Жыл бұрын
It's because it is somebody else's home
@bswal1 Жыл бұрын
@@johnjaco5544 Exactly!
@mimihearts1987 Жыл бұрын
Agreed, every house I’ve rented we never put frames on the walls. Still renting and waiting for our forever home.
@AxisSabian1 Жыл бұрын
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.
@AJourneyOfYourSoul Жыл бұрын
You did the right thing. If you want to live elsewhere, rent the house out and go rent somewhere else. But you absolutely need to own at least one house, so when housing inflation booms again you move up right with it and still keep a roof over your head.
@BruceLee-xn3nn Жыл бұрын
If mortgage is paid off before retiring age you did right thing. You don't want to be 65 and still working your ass off to pay fkn rent OR mortgage.
@Eyeris625 Жыл бұрын
Save $100 a week and at the end of the year make a principal only payment of $5200.00, keep doing.. keep prepaying it
@AxisSabian1 Жыл бұрын
@@Eyeris625 I’m just adding more to each monthly payment which will be applied to principle. But I’m open to other methods.
@lindaadams1008 Жыл бұрын
Scott is right... Once you buy a house, you're always at Home Depot and Lowe's...
@KikoValleyMan Жыл бұрын
So true. You could say that a homeowner lives at these stores. 😂
@Jack-pd4ps Жыл бұрын
@@KikoValleyManTax deductible
@VenturaIT Жыл бұрын
Not in SB, if you buy a house in SB you have at least $100 million net worth and you have your own handyman that you hire or you are not going to make it long-term there. Too expensive.
@lindaadams1008 Жыл бұрын
@KikoValleyMan Yes, I might as well grab a blue or orange apron and hit the time clock...🤣 😂😅
@suntzu94 Жыл бұрын
@@Jack-pd4pscan you deduct your property tax? That’s what I thought 😂
@jimbrauer1855 Жыл бұрын
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
@vickieclark5931 Жыл бұрын
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.
@Thisismeofcourse Жыл бұрын
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!!!
@sweetart99055 ай бұрын
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.
@MrLuigiFercotti4 ай бұрын
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.
@dead28023 ай бұрын
STARTING to change. This is just the transition reving up!
@scrubbwhite2913 ай бұрын
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.
@masteringfibromyalgia3 ай бұрын
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.
@dennisklimavich3342 Жыл бұрын
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.
@SirCarlosMusicBMI Жыл бұрын
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 ✝️🙏❤️😊🇺🇸
@AJourneyOfYourSoul Жыл бұрын
Just be grateful you got to live there. You got to experience more than most ever will.
@certifiedfinest5065 Жыл бұрын
What’s so great about Santa Barbara?
@certifiedfinest5065 Жыл бұрын
@@AJourneyOfYourSoul What’s so great about Santa Barbara?
@SirCarlosMusicBMI Жыл бұрын
@@AJourneyOfYourSoul Thank you and yes I feel so blessed that I was able to call it home for about 21 years 😊👍
@SirCarlosMusicBMI Жыл бұрын
@@certifiedfinest5065 EVERYTHING ✝️🙏❤️😊🇺🇸
@carlaunderhill9156 Жыл бұрын
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.
@jeannie4cc Жыл бұрын
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.
@whiskersredwood7903 Жыл бұрын
The climate in california is so conducive to enjoying the outdoors year round.
@Lisithedogwalker11 ай бұрын
Indeed!!!!!!!👍☺️
@lovechangesus4 ай бұрын
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...
@mikesmith64612 ай бұрын
Nooo. It was overpriced 25 yrs ago
@k8schmate Жыл бұрын
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.
@InMyBrz5 ай бұрын
chinese
@shanenice53803 ай бұрын
To me it should be Americans only.u right I see alot of different race buying expensive house.doesnt make sense.
@dead28023 ай бұрын
@@shanenice5380 If you knew the agendas it would make perfect sense! 😣😰
@melc900Ай бұрын
@@shanenice5380 what race are Americans
@shanenice5380Ай бұрын
@melc900 mixed here that is America lived here that pay taxes
@jccharles6182 Жыл бұрын
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.
@anthony-L.A.6946 Жыл бұрын
I am curious they never mention that rent always goes up. But 30 year fixed is steady.
@debbiec6216 Жыл бұрын
Bingo Rent goes up yearly.
@petersheenan4482 Жыл бұрын
what about taxes and insurance? my apt is steady on those two and rent is low when compared to a mortgage.
@anthony-L.A.6946 Жыл бұрын
When you graduate college you say to yourself I want to rent forever. That’s my life goal. That’s the life.
@marrlena9472 ай бұрын
Insurance and property taxes are soaring everywhere. Better to stay out of real estate for now.
@h3agler Жыл бұрын
So when I’m broke and homeless, I’m headed to Santa Barbara.
@Jack-pd4ps Жыл бұрын
Lots of homeless people travel to Cali. It’s warm and doesn’t rain. Cops do mess with homeless people. They still have rules. For example you can’t be in certain areas and you can’t be laying down after 6am to ensure your still alive.
@LilyGazou Жыл бұрын
Live in a minivan. Stealth camping. Spend winters in Slab city.
@ohioplayer-bl9em Жыл бұрын
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.
@LilyGazou Жыл бұрын
Good idea.
@dead28023 ай бұрын
Very good idea! Pretty soon there will be whole cities of empty houses worth 400K - 10Mill, and not a buyer around!
@shanenice5380Ай бұрын
@@dead2802 immigration well take it
@justinbieber12373 Жыл бұрын
If you weren't in California around in the 60s, 70s, you missed the DREAM .. Only High Rollers Living the DREAM... NOW..... 🍷
@jayhatz12264 ай бұрын
South East Florida is the same
@dead28023 ай бұрын
But thats the idea!
@TheNazo32 Жыл бұрын
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.
@samnangthim69494 ай бұрын
"Paradise on Earth".
@bapluda Жыл бұрын
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?
@MarcelleHechenberger-jg7pl2 ай бұрын
Same here in Australia. They are selling us aussies out
@rillesttalk Жыл бұрын
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.
@NuNugirl Жыл бұрын
I closed last November for cash. The timing was perfect. I got that money out of the bank and it’s holding its value in this market. I will possibly purchase a rental property in the same County, if the time is right. I fled NY.
@rillesttalk Жыл бұрын
@@NuNugirlGood for you! Smart moves all around.
@ilc-nl3yy Жыл бұрын
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🤣
@certifiedfinest5065 Жыл бұрын
You a good kid
@ilc-nl3yy Жыл бұрын
@@certifiedfinest5065 Thank you! To me, pride means a lot.
@LilyGazou Жыл бұрын
30 years ago.
@ilc-nl3yy Жыл бұрын
@@LilyGazou Nothing has changed
@ycoyle2803 Жыл бұрын
If someone is giving a living heir $1M for a down payment they likely have already funded their retirement. Back in the 90’s a friend’s dad bought a used Prevost for like $250k. He was meeting some buddies who all had big coaches. My friend said to her dad about his buddies “I can think of a lot of things to buy with $250-$300k”. Her dad replied “ they already have all those things”.
@matthewwilsonn6748 Жыл бұрын
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!
@daynajoe Жыл бұрын
I sure as hell didn’t know that. And yes, that is definitely a 🚩 ! Thanks for sharing. ✨
@yend.7983 Жыл бұрын
SB bankruptcy court covers Santa Maria thru. Carpinteria, tri-county.
@davidgee6110 Жыл бұрын
The local daily Santa Barbara newspaper just declared bankruptcy and the funniest thing is that the newspapers owner actually owns the building rented to the bankruptcy court. True 😂
@timhazeltine3256 Жыл бұрын
@@daynajoeHardly, it's a regional Federal bankruptcy Court, which are present in every state.
@rayparas2974 Жыл бұрын
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.
@sailingsolo5290 Жыл бұрын
I remember the good old days. Sears,circuit city,comp usa.
@marknewton69843 ай бұрын
Radio Shack!😮
@josephsgroi44744 ай бұрын
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.
@Lex41127 Жыл бұрын
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.
@VenturaIT Жыл бұрын
It's all beaches up and down, lol... best small city in the world.
@binski598611 ай бұрын
More mesa
@dead28023 ай бұрын
Always wanted to enjoy the ocean. Enjoy! And make memories! 😊😍
@Imposter-yd4xn Жыл бұрын
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.
@l.ls.8890 Жыл бұрын
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.
@shanenice53803 ай бұрын
True.i never thought of that before
@Rollandchill Жыл бұрын
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.
@AGhostInTheMachine Жыл бұрын
Ban non-citizens from buying property like they did in Canada.
@VenturaIT Жыл бұрын
Not really, every billionaire and mega millionaire and A and B and C list celeb and Megan and Harry live in Santa Barbara or visit often. And then you have some people who inherited their house but unless they are wealthy they can't keep it due to property taxes.
@victorandrade7940 Жыл бұрын
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.
@noreenn6976 Жыл бұрын
How is Scott different on his YT channel?
@victorandrade7940 Жыл бұрын
@@noreenn6976 I liked to see him out in the community and walking around. It seemed more natural and saw a more personal side of him.
@noreenn6976 Жыл бұрын
@@victorandrade7940 👍
@kurts674111 ай бұрын
Low-income earners live in Oxnard, Santa Maria, or Lompoc with a group of people and commute to Santa Barbara. They should just leave expensive areas and move to somewhere cheaper in the US. You can get a low-paying job anywhere else.
@jayesimond93015 ай бұрын
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.
@snakeplissken306311 ай бұрын
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.
@thebestisyettocome411411 ай бұрын
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.!!
@marknewton69847 ай бұрын
Sounds like prison..
@charlottemitchell27323 ай бұрын
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.❤
@mclayton33611 ай бұрын
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.
@charruz2 ай бұрын
Yeah. Same. Completely flattened by divorce in 2019. Some people are devils
@curtbergeron70311 ай бұрын
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.
@sharoncrawford7192 Жыл бұрын
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.
@xxkittymeowxx80933 ай бұрын
Sounds like heaven !
@sirenmuscle Жыл бұрын
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.
@TrevorHamberger3 ай бұрын
Today I got aggressively driven at for about 15 minutes straight for literally no reason. I wasn't in a car but a guy was aggressively driving his car at me in a really weird way for literally 15 minutes straight
@dead28023 ай бұрын
@@TrevorHamberger Been noticing that too for the last 2-3 yrs. People changing. Meaner. LOTS road rage. Random insanity. Assaults, etc. Every age. Any or no reason. Scary!
@TrevorHamberger3 ай бұрын
@@dead2802 yep. Same here. I've also noticed that a lot of people when you look into their eyes they look like their brain is short circuiting. Almost as if they have absolutely no idea what's going on
@cherlgolja5402 Жыл бұрын
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 )
@pmscalisi Жыл бұрын
NorCal is definitely the better option.
@true-nw3nh Жыл бұрын
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.
@movdqa4 ай бұрын
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.
@doctorstrangelove9487 Жыл бұрын
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.
@Frank-nh9fe4 ай бұрын
Also their property taxes are peanuts compared to what a new buyer would pay. Why in some expensive neighborhoods one sees shabby homes, old owners with low property taxes. If the sold they would have to leave the area.
@brianmclean7576 Жыл бұрын
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!
@primalprosperity8117 Жыл бұрын
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.
@mcarlkv53 Жыл бұрын
“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.
@dead28023 ай бұрын
Someone Finally sees for miles on a clear day! We sat back. Waiting for better times to come back. The obedient children we r. Told people even as a young teen that some day we would regret having houses half made of windows!
@joycehalperin956210 ай бұрын
Santa Barbara used to be nice about 40 yrs ago, now the traffic is just like Los Angeles and too many people.
@fornos123 Жыл бұрын
Walter and Michael. This gotta be a classic! Great to see you guys together. California looks very nice
@lepeicious Жыл бұрын
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
@gweger642511 ай бұрын
Hahaha lived there too. Not exactly paradise. Both those places are hellish
@TomBTerrific5 ай бұрын
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.
@drmahidhar1876 Жыл бұрын
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
@davidgee6110 Жыл бұрын
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.
@ayedee6681 Жыл бұрын
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
@kc.bee.10 ай бұрын
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.
@rmart05105 ай бұрын
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.
@josephlynch3746 Жыл бұрын
Ty, Michael 4 meeting up with Scott! I'm glad 2 see views from all angles and helpful advice all around! ✌️ *
@daynajoe Жыл бұрын
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. 💕💕💕💕! ✨✨✨✨
@jimshoe402 Жыл бұрын
Turn SOUND OFF.🥰🥰
@steveh5307 Жыл бұрын
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.
@stevewalther229326 күн бұрын
$200,000!??
@steveh530726 күн бұрын
@@stevewalther2293 yeah? And? Lots of people in tech make $200k+. The whole "college isn't worth it" is a nonsense rhetoric that only applies to useless majors. College is absolutely worth it if you major in something useful.
@gaylebartlett46312 ай бұрын
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.
@Spirit-FilledMindset Жыл бұрын
We are already in a depression Scott. Sorry to burst your bubble. The recession was last year.
@LilyGazou Жыл бұрын
Yep.
@VenturaIT Жыл бұрын
Everything has crashed and they are hanging on by threads and lying to people for as long as they can.
@postscript5549 Жыл бұрын
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.
@LilyGazou Жыл бұрын
Education is lacking.
@140ex55 ай бұрын
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.
@annoravetz51884 ай бұрын
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.
@Jack-pd4ps Жыл бұрын
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.
@canamrider07 Жыл бұрын
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.
@hotelcalifornia715 Жыл бұрын
You are very smart to have moved to Texas in 2015 before the home prices there went "hockey stick." I hope you and your wife are enjoying Texas living. Even if people are able to buy a home in California, it comes with a lot of "mortgage-backed" stress. Besides that, the State and the local City keeps throwing curve balls in your life, such as exacerbating crime, violence, drug, and homelessness problems with your tax money. California is a deceptive purgative, if not a straight hell.
@DIVISIONINCISION Жыл бұрын
You're not kidding. $30 Mill and some good investments to make sure you have security. If I had that kind of money, I'd buy 100 acres in Central Texas, build a nice house with a pond in front, a personal gym in another structure. California isn't worth it to me, but I grew up there. I enjoyed living in Europe more than California.
@canamrider07 Жыл бұрын
@@hotelcalifornia715 We sold our home in Southern California in 2005 right at the peak. We rented for 10 years in CA. We bought in Waco,$184k, in 2015 and prices jumped after that. We have farm land about an hour away.
@prettyyoungthingpyt5015 Жыл бұрын
Can so many people really have inheritances though? The amount of money going in the real estate market is stunning!
@snusinsky Жыл бұрын
Correct!
@TropicTrdr Жыл бұрын
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.
@princessunicorn669 Жыл бұрын
I miss Sambo’s
@debbiec6216 Жыл бұрын
"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.
@gregfawcett5152 Жыл бұрын
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.
@VenturaIT Жыл бұрын
$1 million for a gutted house that you have to totally rehab up to $5 million in my neighborhood in Ventura... Oxnard is cartel land and still expensive.
@followyourbliss1015 ай бұрын
ventura and oxnard don't have the same cache or beauty of santa barbara/montecito. and besides, Oxnard is Drano spelled backwards with a silent X.
@MrLuigiFercotti4 ай бұрын
Ventura was value pre pandemic, that ship has sailed
@jerrysmithfinearts Жыл бұрын
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...
@bayoubabe669811 ай бұрын
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.
@cherlgolja5402 Жыл бұрын
Sorry renting is throwing away your money ! Your making your landlords rich!
@rfink222 Жыл бұрын
But you may be able to live in a better climate and higher quality of living.
@marknewton69843 ай бұрын
No equity!😮
@moebanshee Жыл бұрын
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
@bakerbrown65 ай бұрын
In NJ the rent is through the roof! But now the houses for sale are outrageous as well. Unsustainable.
@shayscott74985 ай бұрын
Thought the entire NJ was moving to Florida.
@bakerbrown65 ай бұрын
@@shayscott7498 for awhile it seemed all of NYC was moving to New Jersey 😂.
@billredding2000 Жыл бұрын
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