How much is your rent or mortgage in Los Angeles or adjacent?

I have lived in West Lost Angeles for a few years. I lucked out and got a corner 2/2 with W/D, dishwasher, fireplace, views and parking for $1450 (rent controlled).





I'm debating about buying and I'm curious about where I stand rentwise (is it cheaper).





What do you pay, how long have you lived there, where do you live and what are your amenities?How much is your rent or mortgage in Los Angeles or adjacent?
I would hold off buying anything for about another year. Your chances of purchasing a property any where in Los Angeles at this time means no less than a $350K mortgage. At that rate you could be paying in excess of $2000 a month for your mortgage. Add taxes and insurance to that it can blow your budget. I have a rent control apartment where I pay $800.00 a month for a large one bedroom in the Hollywood Hills. Since I figure a mortgage would cost me about $2500 a month, I have been squirreling away the difference to buy a home for about a year now.





I suspect the overheated LA market will start to soften in the next year as interest rates continue to rise and foreclosures go up. THere will be more supply of available houses to buy. Increase in supply usually means lower prices.





Good luck


NotaryLawyerS.comHow much is your rent or mortgage in Los Angeles or adjacent?
Just got off the phone w/my daughter in LA/She is paying 2000.00 a month for a small house (rent controlled) that is smaller than her bedroom at home in the Midwest. Sounds like you should at least check it out!
I own two rentals that I plan on keeping, one is a 2bd/2ba condo rented out for 1450 and the other is a 3bd/2ba town house rented out for1900 in Irvine, CA. My rents are considered low for my area.





I also have to disagree with the real estate attorney. If the numbers make sense, then you should own your own place.





By the way, how the hell does a real estate attorney qualify for section 8 and where do you park your porche? ;)





Regards
good luck