I hate the term real estate. It's cold and business-y, everything that tends to make me hide under the bed. What I write about is space: homes, cafes, places where you can do work, pet the cat, and Google your next-door-neighbor from 10 years ago. I write about places. And I like to do it from a personal perspective.

Wednesday, January 25, 2006

Million-dollar manure?

$1 million to live in Norco, CA? At this point, you truly could sell a pile of horse dung in California and have it hit the $500K mark.

Where to from here? Housing prices are outrageous; the point's been beat to death. So what are the options?

- Renting. Often vastly proven to be a better value in the more heated housing markets such as the Bay Area, Los Angeles, and Manhattan.

- Tenancies in common. An intriguing, and growing, movement toward jointly shared ownership. However, politics between co-property owners could defeat some deals, so make sure you can do business with the people who are also signing on your dotted line.

- Buying out of state. I speak with investors on a regular basis, many of whom are telling me they're putting down cash in states other than California. Hot areas include Florida and Texas -- Nevada and Arizona are getting to the point of being tapped out, they say.

- Nomadism. Pull up roots and travel around. Not recommended for everyone, but for some, living out of a backpack is far healthier than socking away all your cash into one specific place.

2 Comments:

Anonymous said...

That's why I live in Oregon and still have to work with Adam...

10:25 AM

 
Allison Landa said...

Ah, let me guess ... you are the famous Dan?

11:02 AM

 

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