No problem. I just wanted to make sure I didn’t miss some new term.
So a CC Kid is a kid whose parents are on this board?
1 Like
Yes 
Many well educated kids in my area (San Diego) with no college debt still can’t afford to purchase a home when all cash buyers are coming in and buying up so much.
5 Likes
If you are talking about a specific area like La Jolla, I can say the same thing about our area, Newport Beach. But the CC kids don’t have to buy exactly that location in our county. Just like the CC kids in the Bay Area don’t have to buy in Palo Alto either.
@DrGoogle123 - D1 is a kindergarten teacher here in San Diego so she hopes to buy in an area not too far from her school. Homes in San Diego county are averaging $900K (not in La Jolla or expensive areas). Most young people even with a 20% down payment are still having trouble buying homes because of the cash buyers.
3 Likes
I checked on Redfin, San Marcos is more affordable for San Diego.
D2 friends, a couple who is not married, just bought a house for $1.3M, just 2 software engineers in the early 30s.
@DrGoogle123 - my D teaches in Otay Ranch which is almost an hour commute each way from somewhere like San Marcos. That is wonderful that your D2 has friends that could afford a $1.3 million dollar home. My teacher D makes no where near what a software engineer does. My coworker that purchased a $1.875M home here in San Diego had to pay a $50K premium to a company so that he could make an all cash offer and get the home. He had already missed out on 3 others places to all cash buyers.
5 Likes
I just checked on Redfin, I saw something in Chula Vista for $500-$600K range, that’s pretty affordable for a 3br 2b.
Chula Vista is not a place she is going to live. So much of that area is not safe. D1 and her bf are considering moving to another state in the next couple of years to afford to buy a place.
Interesting, my SIL used to live in Chula Vista. I didn’t know it’s not safe. They now live in Newport Beach.
$500-600K being affordable is relative to one’s salary. Not all youngish college graduates (or even non-college grads) in San Diego have those kind of incomes. Ask me how I know…
5 Likes
Forget buying a house, my eldest can’t currently afford to move out at all. He has a college education with no debt. He’s taking in about 4.5k a month after taxes and apartments here are 2-3k a month. He’s not with a girl to move in together and doesn’t relish sharing a room with another dude… so, he’s at our house for now. He’s considering moving out of state or transitioning to a different industry where he can make more money.
2 Likes
My artist daughter would be thrilled to find one at that price. She doesn’t want 1 bedroom, she wants at least 2 bedrooms.
Nobody has to buy anything, stay renting is my advice if you can’t afford it.
Even renting in San Diego is very expensive. My D lives there. She is very worried about the possibility of being priced out when her lease renews at the end of the summer.
3 Likes
@socalmom007 Yep, my D was in this situation when she graduated college last year - all of her friends left San Diego. Her boyfriend is there so she didn’t want to come home (home being across the country on the East Coast). The only way she could afford to stay was to move in with him, something we were not excited about. It worked out, they recently got engaged, but if their rent goes up, they will be in a tough spot.
4 Likes
@DrGoogle123 your artist D makes enough money to afford a $5-600K house? She must be doing very well.
Editing to say, sorry for making three separate posts and veering off topic! I should have combined all responses in one post.
4 Likes
Very minimal rent increase for both of my kids, this is after 2-3 years of no rent increase.
2 Likes
@DrGoogle123 your kids are very lucky. My kid’s rent went from $750 in 2019 to $1350 which would have been October 2021. Really…pretty prickly to raise rents that much during a pandemic. This was a cute one bedroom apartment, but small. No upgrades at all except appliances.
When our kid got the notice about the $1350 rent…that’s when he started to look and bought a town house. He would have loved a house, but those were completely out of his price range.
4 Likes
A friend of mine’s daughter is an elementary public school teacher in a flyover state. She has saved $60k and been pre-approved to buy a house. She has made offers on 11 different homes. No luck. My friend said eight of those were cash offers. My friend claims investors who will use them as rentals, but idk how he knows that.
Point is, she is trying to buy a house and can apparently afford a house, but can’t buy one.
@Colorado_mom my stepdad was from Lamar. We used to visit his family and it was a farming town, nothing like Los Angeles where we lived.
1 Like