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Old 06-27-2011, 01:56 PM
 
Location: Police State
1,472 posts, read 1,107,558 times
Reputation: 1219
Quote:
Originally Posted by user_id View Post
Californians don't want to be Texans, why is this so difficult to understand?

California is not doing poorly right now because it doesn't have Texas like policies, its doing poorly because it was ground zero for the housing bubble. On the other hand Texas was only mildly effected by the housing bubble and has benefited from the increase in energy costs, not to mention the pick up in manufacturing.

Long-term I'd bet on California, not Texas.
Actually CA was in pretty bad shape before the housing bubble. So there goes that excuse.
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Old 06-27-2011, 02:17 PM
 
Location: SF Bay Area
10,129 posts, read 12,699,320 times
Reputation: 5286
Quote:
Originally Posted by .highnlite View Post
Actually, I think what you call denialists are people who have a life, and don't go around whining.
And what do you call people that go around whining about other people whining such as yourself?
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Old 06-27-2011, 02:19 PM
 
Location: Conejo Valley, CA
12,167 posts, read 9,535,902 times
Reputation: 3933
Quote:
Originally Posted by Don9 View Post
Now why would that be?
Largely because Texas cities can sprawl almost indefinitely, on the other hand California's major population centers are largely built out as there are geographic barriers to further building.

Anyhow, your list makes little sense. Appraisers in California were appraising based on comparable sales like they always do, when comparable sales are increasing so do the appraisals. The same would occur in Texas if the values were rapidly increasing. Your claim about subprime is just dead wrong, Texas allows subprime and Texans heavily used them during the housing bubble. So is your claim about predatory lenders, etc.

There is one regulatory issue that helped Texas though, namely, that Texas puts limits on how much equity you can withdraw from your home. The primary reason Texan subprime borrowers have had lower default rates is that they have more equity, both because values haven't decreased that much and because they generally had more equity to began with.

Regardless, none of this changes the fact that California's current situation is related to the collapse of the housing bubble and not its general policies. Many states had housing bubbles and they all have above average unemployment rates right now.
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Old 06-27-2011, 02:26 PM
 
Location: Conejo Valley, CA
12,167 posts, read 9,535,902 times
Reputation: 3933
Quote:
Originally Posted by TimC2462 View Post
except for one thing: the legislators need to focus on creating jobs to increase economic activity to close down the budget deficits -- something that you and I have disagreed about in the past.
Here is the problem, legislators don't create jobs, businesses create jobs. Legislators can create an environment that is conductive to business growth and considering California is the largest economy in the union they have been successful in this task. But no matter how conductive the state is to business, its still going to experience ups and downs.

Anyhow, the best thing legislators can do for job growth is get the states finances in order and stop bleeding key social services of resources.
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Old 06-27-2011, 02:33 PM
 
Location: Conejo Valley, CA
12,167 posts, read 9,535,902 times
Reputation: 3933
Quote:
Originally Posted by ZhugeLiang View Post
Actually CA was in pretty bad shape before the housing bubble. So there goes that excuse.
Not really, the dot-com bubble caused some problems but the state has been adding a good level of population and has had a low unemployment rate since the early 90's.

The state's finances were so-so before the housing bubble though.
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Old 06-27-2011, 02:38 PM
 
Location: Mexifornia
540 posts, read 269,086 times
Reputation: 479
Too bad it's still Texas. Flat, hot, humid, I'll take my mountains and ocean less than 2 hours away rather than live in Texas.
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Old 06-27-2011, 02:43 PM
 
Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 2,873,894 times
Reputation: 2622
Quote:
Originally Posted by sav858 View Post
And what do you call people that go around whining about other people whining such as yourself?
If the whining and complaining about California on this board doesn't make you want to puke, you are part of the problem.

My wife and retired, on our meagre pensions, and moved to California. In order to supplement our incomes, we both created jobs. Hers is going like a house afire, after 6 months her income has exceeded her pension.

My falls a little short, but then I have no wish to work more than two or three days a week.

My point is, if you are struggling financially, it has more to do with you than with the economy.
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Old 06-27-2011, 02:50 PM
 
Location: SF Bay Area
10,129 posts, read 12,699,320 times
Reputation: 5286
Quote:
Originally Posted by .highnlite View Post
If the whining and complaining about California on this board doesn't make you want to puke, you are part of the problem.

My wife and retired, on our meagre pensions, and moved to California. In order to supplement our incomes, we both created jobs. Hers is going like a house afire, after 6 months her income has exceeded her pension.

My falls a little short, but then I have no wish to work more than two or three days a week.
Conversely, if getting upset and telling someone to move anytime they point out a flaw and something wrong with this state, then you are part of a much bigger and more important problem that affects far more people. Perhaps you shouldn't take your head out of the sand to check City-Data if seeing anything remotely negative about this state upsets you so much.
Quote:
My point is, if you are struggling financially, it has more to do with you than with the economy
wow, yeah tell that to all the millions of unemployed and underemployed Californians. It's pretty ignorant and narrow minded to think that your situation in rural Central CA is applicable to the millions of the other people that live in the real world.
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Old 06-27-2011, 02:51 PM
 
Location: Central Bay Area, CA as of Jan 2010...but still a proud Texan from Houston!
6,976 posts, read 3,694,911 times
Reputation: 8050
Quote:
Originally Posted by user_id View Post
Californians don't want to be Texans, why is this so difficult to understand?

Long-term I'd bet on California, not Texas.
Who said they did want to be Texans

Long-term?...In your dreams!

Californians have no clue what is causing this sinking state and will continue to vote clueless adding weight to this sinking ship.

California is not just hurting due to a housing bubble...just keep believing that and see where it takes this state.

There are more problems then the housing bubble causing California's economic problems.
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Old 06-27-2011, 02:56 PM
 
Location: West Coast Wanderer
11,854 posts, read 9,465,703 times
Reputation: 5519
Quote:
Originally Posted by .highnlite View Post
If the whining and complaining about California on this board doesn't make you want to puke, you are part of the problem.

My wife and retired, on our meagre pensions, and moved to California. In order to supplement our incomes, we both created jobs. Hers is going like a house afire, after 6 months her income has exceeded her pension.

My falls a little short, but then I have no wish to work more than two or three days a week.

My point is, if you are struggling financially, it has more to do with you than with the economy.
You had me right up to that.
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