Property prices have soared in the City of Angels with an average year-over-year increase of 40%. It’s the housing boom all over again and I feel like I missed out….again. Crap.
A funny thing is happening again in the housing market in my neighborhood; houses are jumping in price by 30% or more. Now, it’s not like housing ever really “bottomed” out here – housing prices did dip a bit, about 15-20%, but they were still very expensive compared to the rest of the nation.
Frustrated is how I’m feeling in regards to housing. I’m making a plan to purchase something – a townhouse or house – within the next 18 – 24 months and based on what’s available in my area, I’m utterly depressed.
Realistically, I probably won’t be building or ordering my first house online. However, I can definitely see building my own home as a second home purchase option; once I get the hang of buying a first home and home ownership, I’ll feel much more confident in building my own house the next time around.
As circumstances in my life are leading me in the direction of staying put for a while, I’m beginning to think we need to purchase a house sooner than later. Yet, the budding question is where? Ideally, it would be within bicycling distance of where I’ll be spending most of my time which would put us within a radius of 5 miles