Posted on 06/24/2023 12:09:43 PM PDT by ChicagoConservative27
LOS ANGELES (KABC) -- The California Department of Housing and Community Development released new income limits this month, and they increased in most counties.
These limits are calculated annually based on federal guidelines and are used to determine eligibility for things like affordable housing programs.
In Orange County, one-person households making less than $80,000 a year are considered low-income, according to the California Department of Housing and Community Development.
That's up from just under $76,000 last year, and puts Orange County as the most expensive of the Southern California counties.
In Ventura County, it's a little over $74,000 and in Los Angeles County, it's just under $71,000.
(Excerpt) Read more at abc7.com ...
My dad bought a house in Huntington Beach for $220k in 1995.
It’s now worth over a million.
It’s going to be one of the biggest real estate bubbles when it pops, there and San Fran/San Jose.
LOL - Federal Reserve 2% inflation target.
What cost $40,000 in 2003, now costs $80,000
And that’s if you trust the Government issued CPI
May not happen. People have to live somewhere, and these days it's homeless on the streets or in cars. They're not making much land anymore. My daughter's sister-in-law just spent a million remodeling her home in Huntington Beach, and is not worried about a bubble happening. Same goes for many in the SF/SJ region; lots of remodeling investment happening (3 surrounding my home). Homes continue to increase in value due to inflation. Where else can you invest your money as it loses buying power?
All that money for millions of illegals, millions of foreign nationals, over crowding, massive traffic, gangs, punitive leftist laws, over regulation, sky high taxes and crime...
A sucker born every minute...
My mother and dad bought a house (< 2k sq. ft.) in San Jose for $39k in 1976 and it's now valued at over $2m.
Don’t tell the American people - they must not be allowed to figure it out
Open-borders Globalist George W. Bush, his RINO friends and the Democrats are destroying the middle class
If Trump becomes president again damn the torpedoes and kick out every illegal AND their progeny, I don’t care if it’s 4 generations of them
Not to worry.
Blackrock/China will buy it all up.
How on Earth is Blackrock allowed to even exist? Aren’t they a government by now, and isn’t setting up governments inside the United States illegal?
The thing that 'pops' will be one of the two faults, and it could destroy global re-fi, which will likely attempt to capitulate rather than pay, and write it all off as force majeure.
Then it's on like Donkey Kong, as the US is saddled with making everyone whole, and the PLA dives in to compete with Blackrock for the distressed properties.
It’s becoming that way everywhere
Interesting question. The short answer is Black Rock is allowed to exist because they are a company which is legally involved in legal business ventures.
If they have not broken any laws, there will be no basis for any legal action against them which would force them out of business.
corporations need to be made illegal, not a privately held company but corporations. Think about it, what makes a corporation different than a government? The answer is, well, nothing.
A lot of problems would be solved if anti-trust laws were a lot stronger. We’re an oligopoly nation now, and it sucks.
“there will be no basis for any legal action against them which would force them out of business”.
That may be legally correct but in the real world they have created a de facto monopoly on real estate transactions in at least some markets.
That has badly damaged normal people who wanted to buy homes at reasonable prices.
A class action lawsuit might be the way to go here—there is real harm to real people.
The Sherman Anti-Trust law is solid.
It is the lack of enforcement that has become a joke.
It needs to be 10x stronger and enforced totally. There’s no excuse for this crony capitalism BS going on now. I’m relatively lucky that I got in my place before the insane housing price increase. The job market is a total joke now, 99% of the listings are scams or flat out fake.
I can live cheap, but if I hadn’t made a few lucky decisions 15 years ago I’d be homeless.
Hah! My folks bought a house in Los Angeles during the war for $1600...yes, $1600! (my mom worked for a military contractor so was allowed to buy a house). Zillow has it at $1.3 million...and believe me, it’s a shoe box!!
I wonder why we never see a breakdown of that income, and how much of it goes to pay for the cost of government...
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