Why are the price of homes going up with the population going down?

[Chowhound]

Not sure why, maybe it's just still too many people here vs supply of homes. It's crazy to me, apartments just down the street for a 2 Bed and 1.5 bath are going for 2800 to 3200 bucks. I mean just nuts. I live in a decent part of town, but I don't know. How can young couples afford that just starting out?

We bought in the late 90s and back when real estate here was still somewhat reasonable. Our condo mortgage and including our HOA fees are still less than half of what apartments around are going for. Crazy stuff.

I can't see young people starting out being able to afford even a condo at this point. Most likely they'll have to get some kind of inheritance or help from their parents. If condos are going for 500K, I know the homes in my zip code are easily 1M and up. Again, I'm not living in some baller place like Beverly Hills, I just think anywhere that is halfway decent is going to cost a lot of money.

We got lucky, big time. I wished I could say I planned it. I was in my later 20s and all of the old guys I worked with at the time kept telling me I should buy something, also talked about the tax breaks as I was starting to make a bit more money and it all made sense at the time. I never really thought about home ownership at the time, but I'm glad we did do it.

Been thinking of selling and bailing out of So Cal and taking advantage moving to a cheaper location, but I seem to be flip flopping a bit on it.

I'm down to may last ten years in the workforce and I don't know if I should just stick it out or pull up stakes and move.

[colobound65]

I heard Beverly Hills is now a ghost town. Is that true?

[BGS91762]

Originally Posted by colobound65

I heard Beverly Hills is now a ghost town. Is that true?

Was just there a few weeks ago and the streets are busier than ever. Seems more people than I remember especially on Rodeo Drive.