It's Not California's Fault ... (Los Angeles: houses, buying, prices)

[sheri257]

The state is only doing what it does best ... creating great opportunities which, inevitably, also create huge crash and burn scenarios. California is the land of extreme ups and downs ... it's one of the things that make this state great.

So you probably can't afford a house on the coast anymore. Neither can I. It's not California's fault ... that's what a land of opportunity does. For every loser in the marketplace there's a HUGE winner ... people who were able to sell their houses for a fortune.

Why do people conveniently ignore this? People who got in on the ground floor made out like bandits. I don't begrudge them that success ... and I don't begrudge the state for giving them that wealth either.

Just because I missed that opportunity doesn't mean the state has gone to hell. Afterall ... it's actually my fault for not buying sooner ... I can't blame California for that.

Afterall ... California was only doing what she does best ... creating great opportunities for people who were smart enough to take advantage of it.

[Charles]

Originally Posted by sheri257

The state is only doing what it does best... California was only doing what she does best ....

Couple of articles in context with this post in today's World Champion Los Angeles Times:

Current market leaves home sellers nostalgic for 2006 - Los Angeles Times

Peak prices chart - Los Angeles Times

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[sheri257]

I thought it was obvious when I said ... "ground floor" ... I was referring to people who bought their houses cheap.

Not the people who paid too much for their houses ...

If you were dumb enough to pay $500K for an ordinary house at the peak of the market ... that's not California's fault either.

[Charles]

Originally Posted by sheri257

If you were dumb enough to pay $500K for an ordinary house at the peak of the market ... that's not California's fault either.

Is "dumb" really the correct or fair word?

[EscapeCalifornia]

I guess I'm a big loser because I was born a few years too late to afford a house in the area I grew up. I should have taken the initiative and been conceived earlier.