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This is an argument that speaks volumes about Los Angeles real estate in the year 2007. The entire exchange is in the comments section here, but I wanted to bring you up to speed on this one: It begins when 225K Couple posts an item on Curbed LA saying that, despite their high income, they can’t afford a decent house in LA:

225K Couple: “What we can afford is $650K place - what does that buy you in LA - a really (lousy) house or a 1300 sq. foot condo? Sure we can get a nicer place if we stretch ourselves or get an interest-only ARM….”

Rick then responds here on LA Land: ‘They can afford a home but they can’t afford the home they want. She expects her first home to be in Manhattan Beach and won’t settle for anything less ...’

To which 225K Couple responds: ‘Rick... you’re wrong, we’re not looking for a place in Manhattan Beach at all -- we gave up on the Westside long ago -- we’ve looked in, amongst other places, Silver Lake, Echo Park, Mount Washington, Eagle Rock... we’re not looking for a McMansion either - the largest place we’ve seen was about 1600 square feet -- all we want is a safe neighborhood, 2bds/2ba, 1250+ square feet and a little piece of land to call our own... ‘

225k Couple then asks, where are the ‘nice’ houses for $650,000?

Thougths? Comments? Insights?