^Well, keep in mind the Malibu action was ~2000 timeframe. It's almost certainly not affordable now w/ the rise in property prices. The guys in Santa Monica were living there as recent as 2004, so your mileage may vary. I lived in a 2BR/2BA TH w/ garage at Alexan Parc Rose and still had cash left over out of my BAH due to a lower lease amount as one of the first tenants, plus I made more than the average bear (married O3E). With a roommate, it's def. affordable. In the end run, you get what you pay for. Just depends on what you're willing to fork out.
I'm cringing at the thought of pooling money with a couple of guys for a $500k house. That's an awfully big risk to depend on the continued well-being of your co-investors. "My cousin Ray-Ray fell off the rollercoaster and broke every bone in his body." [points to the first to name the movie] Point being, if one guy ends up hurt, NPQ, FNAEB'ed, whatever and transfers (conceivably involuntarily) - then what? The mortgage company doesn't care, and everyone's still liable. I were going that route, everyone had better have AFLAC. For that matter, I don't know if I could recommend anyone buying anything in SoCal right now. What comes to mind is ~1994-95 timeframe when you couldn't GET someone to buy a house. Former instructor PCS'ed from there and was stuck w/ 2 mortgages, eventually taking a big loss to make a sale on his San Diego house (this came about as a market slowdown as well). Schnugg or another Miramar/NASNI resident of that timeframe may be able to elaborate more; but given the few/far between shore jobs out at Mugu, unless you know you're going to the Wing for your shore tour and will be around out there for a while you might be better off just renting (even if you're married).