Housing is Ridiculous


 Joe Garretson
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Star Rating 1/25/2007
My wife and I are selling our first condo in Simi. We've owned it for 2 1/2 years. It's a 1bed/1bath, 700 sq ft. We've accepted at an offer at $290K. That's ridiculous. Yet, to buy a house, I have to spend nearly $500K and that's a small fixer upper in not the best neighborhood. I've lived here most of my life and my wife was born and raised here, but our family will be packing our bags and cashing in on our equity. Denver or Boise, here we come!
Simi is far from paradise. It's a nice town, nicer than most suburbs in SoCal. But housing is out of reach of most people unless you like two income families with a $3,000/month mortgage. Schools are getting worse, crime is on the rise with the migration of people from the Valley and I don't see it getting better anytime soon.
 

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