Okey, I just started looking at this thread, so most of the info is well stated.
What I have done with my husband is start a mixed "Brokerage" fund: mid-high cap invest to obtain the down on a house. We live way off where the buffaloes roam by Microsoft, so most houses run ~$800K+ for ~3500+ sq. ft. (Yeah, I know, straight jack). And these are new constructions.
If you live in my city, you ain't eva gonna get new construction, unless you like high-rises, which is dumb 'cuz we just had a windstorm that isn't a joke and we sit on a seduction zone, meaning earthquakes AND volcanoes...
And you really have to love fixer-fixer, upper-uppers.
However, you must factor the cost of living in your area. How far is it from your job? Is the area safe? All housing CMA's in LA will say houses make $$$. But do you have security? What is the security? Who are the neighbors? You know how LA is crazy...
The other thing is grocery stores and other needed incidentals, like gas, repair folks, fire/police, libraries. Then walk in the area, oneday, it is enjoyable to be there?
Yeah, the shores are, but that's what folks pay for and actually, they may not be "owning" their house, some company does... Or the government for ops...
If you want to live in Ladera Heights, you have to know someone who knows someone from my understanding...
And the Urban League has some kind of homeownership program...
And the only major new construction that I heard is going on down there is in Vacaville or Barstow...
