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Californians: Your rent may go up because of rising insurance rates
(calmatters.org)
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this post was submitted on 14 Aug 2024
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That has way more to do with corporate purchases of residential homes for rentals and short term rentals than anything specifically tied to CA. I feel you though I've considered leaving the state CO, OR, or WA., I'm being forced out of the town I grew up in for sure, just looked at places still in CA about 4 hours from where I grew up and can get a much nicer place for 300k less than a dump of the same size would be where I live.
My FIL owns a property in my area but it's torn down to the studs, him fixing it letting us buy it or rent it at a discount is the only way I'm staying in my area. Fortunately my MIL and my FIL's mom are pushing for it.
I grew up in a large apartment complex in San Diego, so I never really expected to inherit a home.
I grew up poor but both my parents started making good money around the time I graduated HS. What's crazy is that my step-dad was able to buy a house for us as a self employed electrician he probably made about 1/2 to 2/3s what I make now and that house is about 250k out of my price range now. I can get a 675sf condo near me for $80k more than the 2000sf+ house I'm looking to put an offer in on.
Edit just looked up our old house it's got a zestimate of $1.04 mil so it's a solid $500k out of my price range.