People are not leaving CA due to taxes and regulation. (to live, price)

[DenaDude]

Originally Posted by momomanno

Sure. So I looked up San Marino and the population is essentially level. What's your argument here, that the "poor" of San Marino fled California? What poor? San Marino is rich. Your own statistics say that the median household income is $130K, which places it well above average. Moreover, your claim of "foreigners" driving up the market is irrelevant, since "foreigners" buy top-end real estate all over the place, but supposedly it only impacts California? Sorry, don't buy it, try again.

Wtf are you even talking about rofl. Obviously SM's population growth is static. I even inferred that in my post regarding, but I guess it went over your head.


The reason why these areas have had increased price absolutely has to do with foreign investment. If you think otherwise we're done with this discussion.


Poor and rich are all relative terms. A 70 year old retired school teacher who bought a house in SM in 1965 is very poor compared to the Chinese multimillionaire that replaced her. A household earning $130,000 cannot buy a 2.2 million house. The annual payment would be ~$110,000 per year. Get real.

And yes SM is not a unique situation. Look at London, Paris, or Geneva real estate. I'm not throwing out some sort of wildly new hypothesis here. This is pretty standard stuff.

[RuggedAlpha]

"So liberal tech companies like Google, which don't really produce anything (it's an entire company built on a search algorithm, if you're going to be honest) have millionaire employees, there's no middle class, and there's a small lower class that services the liberal elite class. Then the rest flee to Texas."

Your view of Google is extremely limited. Personally, I find Google and its services extremely useful as a productivity tool in my professional realm. We live in a digital age, so to say that Google doesn't produce anything of value is just silly.

Also, the middle class has been affected all throughout the country, not just in CA. That being said, the picture is not as bleak as you make it out to be. There are still plenty of opportunities and quality of life to be enjoyed here in California without having to move to Texas. It's not all doom and gloom man.

[momomanno]

Originally Posted by DenaDude

Wtf are you even talking about rofl. Obviously SM's population growth is static. I even inferred that in my post regarding, but I guess it went over your head.

That's odd, since this thread claims that people are leaving CA due to being poor. Therefore, if you're affirming that, then San Marino should be experiencing a similar impact. If it doesn't, then you're bringing up an irrelevant example for some unknown reason. I guess that went over your head.

Originally Posted by DenaDude

The reason why these areas have had increased price absolutely has to do with foreign investment. If you think otherwise we're done with this discussion.

I guess you're wrong and we're done then, LOL. That was simple.

[RuggedAlpha]

"Poor and rich are all relative terms. A 70 year old retired school teacher who bought a house in SM in 1965 is very poor compared to the Chinese multimillionaire that replaced her."

^This...

[momomanno]

Originally Posted by RuggedAlpha

Your view of Google is extremely limited. Personally, I find Google and its services extremely useful as a productivity tool in my professional realm. We live in a digital age, so to say that Google doesn't produce anything of value is just silly.

I said it doesn't produce anything, not "doesn't produce anything of value." It made its money on a search algorithm. Since then, a lot of what it's done is buy other companies.

My point was not pro- or anti-Google. I was merely noting that a lot of California's wealth is tech wealth and celebrity wealth (although it also has massive agricultural interests, as well). Those happen to support California irrespective of its crushing taxes, but it's semi-artificial. It's like looking at NYC and saying "ha ha, look how rich NYC is!" NYC is founded on the tradition that the stock market is there, which is entirely arbitrary in this day and age. You could put the stock market in Boise, Idaho, if you wanted. Nevertheless, NYC and its hedge fund managers and stock brokers all generate massive incomes and don't really care if you take half of it because they didn't really do much to make it and yet they'll get six-figure bonuses.

Similarly, California's movie stars make massive amounts of money and also don't really care if California takes half because it's not like they did much to make it. For example, Jim Carrey can make a bomb of a film and still get $20 million for it. Essentially, it's like any time he wants a few more million he just goes out and makes a film. That's entirely his prerogative and I don't mind it at all, but that's why he doesn't care about the tax. But that doesn't translate down to anyone outside of these ultra-wealthy people who all happen to be liberal. That was my actual point.

[DenaDude]

Originally Posted by momomanno

I said it doesn't produce anything, not "doesn't produce anything of value." It made its money on a search algorithm. Since then, a lot of what it's done is buy other companies.

My point was not pro- or anti-Google. I was merely noting that a lot of California's wealth is tech wealth and celebrity wealth (although it also has massive agricultural interests, as well). Those happen to support California irrespective of its crushing taxes, but it's semi-artificial. It's like looking at NYC and saying "ha ha, look how rich NYC is!" NYC is founded on the tradition that the stock market is there, which is entirely arbitrary in this day and age. You could put the stock market in Boise, Idaho, if you wanted. Nevertheless, NYC and its hedge fund managers and stock brokers all generate massive incomes and don't really care if you take half of it because they didn't really do much to make it and yet they'll get six-figure bonuses.

Similarly, California's movie stars make massive amounts of money and also don't really care if California takes half because it's not like they did much to make it. For example, Jim Carrey can make a bomb of a film and still get $20 million for it. Essentially, it's like any time he wants a few more million he just goes out and makes a film. That's entirely his prerogative and I don't mind it at all, but that's why he doesn't care about the tax. But that doesn't translate down to anyone outside of these ultra-wealthy people who all happen to be liberal. That was my actual point.

Yeah we are done because you don't actually live in the realm of reality. If you did you would understand just how much of an impact foreign buyers have on the real estate markets here. Have a nice day in your delusional fantasy land.

[momomanno]

Originally Posted by DenaDude

Have a nice day in your delusional fantasy land.

I don't live in California.

[RuggedAlpha]

"I don't live in California."


I think this statement says it all.

The notion that Hollywood and celebrities make up the bulk of the wealth and economy here in CA is truly laughable. The economy of CA is diverse and not limited to entertainment and agriculture. Though we do feed a lot of the country.

Just curious momomanno, what makes you care enough to post and debate here on the CA forums when you don't live in the state?

[DenaDude]

Originally Posted by momomanno

I don't live in California.

Clearly.

Otherwise you might have had a clue regarding foreign buyers.

[DenaDude]

Originally Posted by RuggedAlpha

"I don't live in California."


I think this statement says it all.

The notion that Hollywood and celebrities make up the bulk of the wealth and economy here in CA is truly laughable. The economy of CA is diverse and not limited to entertainment and agriculture. Though we do feed a lot of the country.

Just curious momomanno, what makes you care enough to post and debate here on the CA forums when you don't live in the state?

Usually it's jealousy. The haters are bitter because they were priced out and/or can't afford to live here. To make themselves feel better they choose to complain about the state to justify their crappy lives.