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by chasebank 330 days ago
I'm in Santa Barbara, CA. Good friend of mine just bought a shithole 3-2 1300sqft for $2.2m. $3M doesn't go very far considering 30 years ago it was retirement status almost anywhere.
6 comments

I don’t get it, at this point you move to Baja or Portugal (for similar climate) and live like a king without ever having to work again (unless you want to). Or a cheaper east coast state if you wanna stay in the US on the coast and have access to to all the same fast food and Walmarts.
How does medical care factor in to your plans? Do those places have equivalent access to care if you stay in or around the main cities?

Even something like living in the countryside domestically would worry me (that is, longer times between calling for help and it arriving, then time to be transported to a medical centre or hospital, and then probably getting transported to the city anyway for access to advanced medical care).

Spain and Portugal have excellent, affordable healthcare (part time resident).
You know life expectancy in Portugal is higher than in California, right?
Ye I really don't understand why people don't take their money and run more often. And like, run a convince store somewhere off.
I'm one of those people who took "the money and [ran]"

I'm a digital nomad and have been traveling full time for 7 years now. It's great, it's a good balance of work/life balance but one thing you slowly start to notice is when you leave your country, no matter if you learn the language or how much integrate yourself into that country, you will always be an outsider to the majority in that country.

As an american you will always be a Yankee, Farang or Gringo and will carry the weight of the US collective.

That stops when you actually fix yourself somewhere and become part of the community.

Being a nomad is basically asking to start from scratch everywhere you go.

As a neurodiverse offspring of a biracial marriage, I’m starting to feel more and more like an outsider in my home state. Though I’d likely feel it much more if I left now, to your point.
I could retire on 3 million right now.
Here's a $2M 4-3 2279sqft very-nice-looking home in Santa Barbara:

https://www.zillow.com/homedetails/5436-Agana-Dr-Santa-Barba...

offtopic, but I love comparing realtor glamour shots HDR'd out the wazoo with StreetView

https://maps.app.goo.gl/2aEXsdH9hU3o4SZw5 (winter, March 2012)

Aside to the offtopic: I'm surprised the google street view footage is 13 years old.
It launched in 2007, so approaching twenty years:

* https://en.wikipedia.org/wiki/Google_Street_View

I meant and left out a key word; "most recent". Whoops!

I'm used to seeing yearly or every-other-year streetview updates for locations I look at regularly.

That said, might be mixing up my broader impression with the interval of satellite photo updates in the google earth history. (but my bay area neighborhood does indeed have streetview history updating every year or so; obviously this is probably on the high end given proximity to tech companies...)

that's not a glamour shot, that's just a sunny day. the dirty little secret of the southern california coast is it is cloudy more than half the time. west la, downright depressing. they call it "the marine layer", i call it cloudy as fuck.
Ya that’s completely false lol. Lots of reasons to criticize LA, being cloudy isn’t one of them

https://wrcc.dri.edu/cgi-bin/clilcd.pl?ca23174

Still not bad
so much space lost to cars...
You're making his point.

4br in only 2k sqft? For 2M? Please...

I'm not saying the prices are reasonable.

I'm saying $2.2M for a "shithole 1300sqft" doesn't make sense when you can pay $2M for a nice 2279sqft.

Sorry, but this reads like you contradicting yourself.

~"Not saying X, but... X."

My first sentence is saying "I'm not saying the prices are reasonable."

How does my second sentence say the prices are reasonable? My second sentence is saying chasebank's friend did something that doesn't make sense. It's not saying the housing market in Santa Barbara is reasonable.

>for a nice 2279sqft.

Are you intentionally ignoring you said "nice" for what most would consider to be a source of ridicule (4BR SFH in 2k sqft). BTW, you haven't made an argument about real estate differences. The smaller home might be a better deal.

And you're using a turn of phrase that is the opposite of your apparent intent.

His stupid idea to buy in a place that has gotten more expensive than almost anywhere in the country.

I can cry that my dream flat in London is more expensive than I expected 30 years ago but that just shows how stupid I’ve been the last 30 years

I have to ask, if they have access to get a loan of $2.2m then the friend could likely save for 5-7 years and just retire someplace cheap. Like, spending that much seems wild given the implied access to straight cash.
But you can always sell the house later if you want to retire somewhere cheaper. It’s not like you losing the money forever.

You do have to pay interest taxes and maintenance, whether that exceeds the rent for an equivalent property is another question.

Yeah but let's keep the ponzi going people!
Yeah they been printing alot of $