[churchillbuff]

The bottom line is many people live beyond their means"""

Unfortunately, in California, for many people, it's almost impossible to own a house without "living beyond their means." The state has become a place that's very unfriendly to the middle class. Socialism does that. Socialist places tend to be nice places to live - for the rich and the poor, but not for the middle class.

[onyx]

Your comments have nothing to do with real estate prices in CA.

[rlmorel]

True enough. Thomas Sowell, in his excellent economics books, explains the phenomenon.

People buy these upscale properties, get involved in the political systems to pass land protection and zoning legislation that drives the availability of housing down, and the price up into the stratosphere, serving their purpose of keeping others out. That is why people cannot buy homes out there.

They are all adherents of "The Last One Over the Bridge" syndrome.

[RockinRight]

Unfortunately, in California, for many people, it's almost impossible to own a house without "living beyond their means."

So move.

[gleeaikin]

"It's almost impossible to own a house without "living beyond their means.""

My married children were having a terrible time saving the money they needed to get a home--one in Miami, and one in Baltimore. This was about 5 years ago: I offered them each a $10,000 gift financed by borrowing against my equity line of credit. With this help they were able to buy 3 bedroom fixer uppers for a little over $100,000. Boy are we glad we did this when we did.

Looking at what is happening to the middle class in this country is very worrysome. Thirty years ago CEOs of top corporations earned about 40 times the salary of their low level employees. Now they earn 400 to 1,000 times as much. Somehow I don't think their abilities are ten times what they were 30 years ago. Is this why jobs are being sent overseas, and health care costs rising so rapidly? I fear we are going the way of Mexico, with the very rich and the very poor and a tiny middle class.

[greccogirl]

Then get OUT of California. Lots of nice places to live and work where you can still afford a decent house.

[Mr Rogers]

Unfortunately, in California, for many people, it's almost impossible to own a house without "living beyond their means."

So you either don't own a home (ever heard of rent?) or move. That's life.

[BamaGirl]

"Socialism does that. Socialist places tend to be nice places to live - for the rich and the poor, but not for the middle class."

Very well said!