Surprise! Los Angeles isn’t a cheap place to live.
The median price of rent listed in this article is $1716/month.
I’ve seen many a 2 bedroom for that price though, so it’s statistics distortion. The author’s bias slants the article.
The market has dictated the price of rent and the median price of a house at $570,500. If you can’t afford that, but want to buy a house – move somewhere cheaper so you can achieve your goals. Or acquire the skills you need to do a job that pays you enough to buy a house in LA.
And if you say school is too expensive… false. Education is free here, here and here. Books are cheap too. You don’t need an ivory tower degree. Those are overrated and overpriced anyway.
Since you can’t afford a one bedroom – humble yourself and get a roommate (or 4 – whatever it takes for the dream instead of whining and demanding a handout). That’s $850/month.
If rent is a third of your income – you need $2450/month or $29,400/yr… which is… wait for it… $15/hr.
Well, that’s technically if you take home that much. But you won’t in the current political climate – thanks to taxes. But if we eliminate the income tax, you take home your whole paycheck (and we end wage slavery)! Magic.
So a $15/hr minimum wage job affords you living in Los Angeles with a roommate. Problem solved.
It’ll be $15/hr soon. You don’t deserve to buy a house on a minimum
skill wage job.
Buying a home isn’t necessarily a good idea anyway. But that’s a topic for another day.