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Old 05-02-2011, 08:36 AM
 
5,113 posts, read 5,973,187 times
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Quote:
Originally Posted by ferretkona View Post
I think this would be a good time to purchase as prices are down as well as interest rates. I see values stabilized and doubt they will go any lower. Interest rates will only go up.
Then buy ...

Everything you said has been said for the past 4 years but yet the housing market continues to decline. If you do a little research you will see that foreclosures are on the rise and states like California have installed roadblocks to slow down the process and kick the can a little longer. The problem with that is we will have a ton of foreclosures hit at once.
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Old 05-02-2011, 11:06 AM
 
2,093 posts, read 4,698,944 times
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Originally Posted by ndfmnlf View Post
Unemployment rates go up and down. The economy changes all the time. The thing that never changes is geography (at least not on the human scale of decades and centuries). For the foreseeable future, CA will be geographically proximate to Asia. And CA will have pleasant Mediterranean type climate and an interesting landscape. Affluent Asians (and other people with money) will prefer to live in CA over other parts of the US due to these physical factors which are independent of unemployment rates, tax laws, regulations, and other perceived economic disincentives. Real estate is about location location location. You can make the Sahara desert the most tax friendly place in the world (zero taxes, no business regulation, low cost of living, whatever). Nobody will want to live there and call it home if they can help it.

These are all "feel good" characteristics about our state, but it doesn't address our inept government and the failing infrastructures that have once made California great.

Your post doesn't address the poor public education system, poverty, and the rapidly aging buildings, along with the high cost of land on the coast. The people, the economy, and favorable climate for businesses to thrive are what makes a state prosper and attractive.

Geography and weather alone doesn't cure everything, nor should they be reasons for anyone to be highly optimistic.
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