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Opinions of the Southern California market.

I am so sorry if this has been asked a million times. But I am wondering what your opinions are on the Southern California market.

I was born and raised in Southern California. I’ve traveled all over the world and I am confident in saying this live in the best place in the world. I love my city, but I am terrified that I am being priced out.

2 years ago, houses in my neighborhood were going for 320k. Those same houses are now selling for over 500k. I’ve personally seen property values rise 20k over the last 4 months in my city, and it just continues to climb. Every time I seem to save up enough for a down payment, the bar has grown higher and I need more money. It’s a never ending race that I am always 2 steps behind.

Now, I’ve spoken to numerous people about this. Real estate agents, financial advisors, real estate investors. All kinds of people, and from what I can gather. No one can agree on what is going on.

Half the people I talk to tell me to wait. That we are in a housing bubble and it will crash.

The other half are saying I need to buy right now because housing prices in Southern California will only go up. That real estate is so in demand, and space so limited that if I don’t get in now I will be priced out forever.

I am wondering what you guys think about this.

submitted by /u/skatephotographer
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source https://www.reddit.com/r/RealEstate/comments/dankx5/opinions_of_the_southern_california_market/
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