Good bye California, my love letter to a state. (Oakland: rentals, mortgages)

[alliance]

OP, I can relate to everything you've said and I'm in the exact same boat. I'm done with this state, just working on the details. Sold my business in SF earlier this year and considering unloading the CRE to build up something in a state that actually wants my services and not just my money.

Good luck to you!

[CA4Now]

Originally Posted by alliance

OP, I can relate to everything you've said and I'm in the exact same boat. I'm done with this state, just working on the details. Sold my business in SF earlier this year and considering unloading the CRE to build up something in a state that actually wants my services and not just my money.

What happened? And where are you going?

Originally Posted by alliance

I'm sure eventually I'll become jaded just like everyone else, but I am having the time of my life so far. Those of you who find things to complain about here have lots of valid points (cost of living, etc), but most of the issues I read here are ridiculous and irrelevant in the grand scheme of things. You have no idea how good you have it. Go spend a summer in Houston and you'll never ***** again. And if you really hate it so much, then leave. Please. There're plenty of folks out there who would gladly take your place.

[alliance]

Originally Posted by CA4Now

What happened? And where are you going?

Interesting find. I think the politics and intolerance towards anyone who doesn’t think the way you’re expected to has finally worn me down. The blind hatred towards half the country has gotten ridiculous and I’m tired of hearing constant complaints about how everyone outside the bubble is racist, homophobic, sexist, etc. This isn’t an exhaggeration, this is a daily occurrence with a majority of the people I interact with and it’s gotten worse as time has gone on. It confuses me how people’s happiness is directly related to if their side is winning or losing. There’s only so much negativity I can stand. Life’s too short to be surrounded by hate, especially when there’s no real reason for it.

The anti business attitude certainly didn’t help, of course, but honestly I expected that when I moved here and I even saw it as a sort of challenge. I didn’t expect the intolerance and hypocrisy though.

Most of this is due to the homogenous population of SF, so it’s probably unfair to lump the whole state here. I should probably adjust that perspective.


I’ve looked into Tennessee, Colorado, and Idaho so far. But my new business is allowing me to go anywhere I want, so I will probably take some time to explore the country more before making another go at settling in somewhere. And there’s something about driving through middle America that makes you truly appreciate how amazing most of this country still is.

[LuvSouthOC]

I wish CR well. I do have to say one thing, however. California was already dominated by one political party. Nothing changed in this election except that the one party dominance expanded even further. Liquidation of assets seems to be an over reaction to me. If the sales were done because of the housing market, that would make more sense to me.

[xPlorer48]

My relatives are doing the reverse. They were born in California but their mom was born in Bremerton. They moved up here a few years ago to be with another cousin. Now, they are moving to San Diego: my cousin, her daughter and granddaughter. Most of my cousin’s family is there so I can understand. Also, my cousin is allergic to alder trees.

The remainder of my cousins are in Arizona, North Carolina, and Hawaii. They all left for many reasons: jobs, family. And, some are conservative, others are liberal. I will miss them. They had the artist gene as do I.

[JJonesIII]

Originally Posted by alliance

Interesting find. I think the politics and intolerance towards anyone who doesn’t think the way you’re expected to has finally worn me down. The blind hatred towards half the country has gotten ridiculous and I’m tired of hearing constant complaints about how everyone outside the bubble is racist, homophobic, sexist, etc. This isn’t an exhaggeration, this is a daily occurrence with a majority of the people I interact with and it’s gotten worse as time has gone on. It confuses me how people’s happiness is directly related to if their side is winning or losing. There’s only so much negativity I can stand. Life’s too short to be surrounded by hate, especially when there’s no real reason for it.

The anti business attitude certainly didn’t help, of course, but honestly I expected that when I moved here and I even saw it as a sort of challenge. I didn’t expect the intolerance and hypocrisy though.

Most of this is due to the homogenous population of SF, so it’s probably unfair to lump the whole state here. I should probably adjust that perspective.


I’ve looked into Tennessee, Colorado, and Idaho so far. But my new business is allowing me to go anywhere I want, so I will probably take some time to explore the country more before making another go at settling in somewhere. And there’s something about driving through middle America that makes you truly appreciate how amazing most of this country still is.

Thank you Alliance. A very fair post that seems to mirror much of what CR has said over the last couple of years. The first paragraph very much mirrors my sentiments also.

[blam]

Originally Posted by CaliRestoration

Dear California,

What can I say? It's been a long journey. From a young man barely making ends meet, to a guy who is older, wiser, and much more wealthy and has a choice to go anywhere he wants now.

Since early Spring I've been listing every real estate holding I have in California. This week my last two rental properties went into escrow and represented the last of my business assets left in the state. It's been a long process, I moved my original business (a SAAS software company) out of the state years ago along with 70+ jobs, but kept the real estate because the getting was good.

I have a lot of memories of California, mostly good, despite what I've written above. But it's time to move on, for me. To those who stay, I wish you all the best (I really do). I hope you guys figure out a way to bring moderation to the forefront of the polices of the state. I'll admit with Newsom taking office next year as expected, that's probably a slim hope and I figure a lot of you are about to get taxed to the titts, but you guys will figure it out. It no longer concerns me politically, or monetarily.

Good bye California.

Best regards,

CaliRestoration


+10 Points to those who can point out where this is.
+20 Points to those who can identify the restaurant

So you became a self-made millionaire in California because you're older and could purchase the property back when it was much cheaper compared to average income and now you're mad at California for some reason and you had to make this "announcement"?

[JJonesIII]

Originally Posted by blam

So you became a self-made millionaire in California because you're older and could purchase the property back when it was much cheaper compared to average income and now you're mad at California for some reason and you had to make this "announcement"?

Yet another fallacy when you look at the historic low interest rates people have been able to purchase property at. I'm sure many would have loved to purchase homes at some of these 3-3 1/2% rates as opposed to some of the double digit rates many in his generation were exposed to (apparently you're too young to remember that). Not to mention, plenty had an opportunity to purchase homes at 40%+ below of what they are today some 8 years ago. Let's not expect other to cry tears for those that didn't take advantage of that. Buying homes have always been hard in the large metropolitan areas of California. Please don't foolishly try and discount the hardships others had to go through to purchase their homes.

[Ultrarunner]

Originally Posted by blam

So you became a self-made millionaire in California because you're older and could purchase the property back when it was much cheaper compared to average income and now you're mad at California for some reason and you had to make this "announcement"?

I can show you foreclosed homes that were down 80% in my Oakland neighborhoods in 2009-12... age has nothing to do with it.

More like group think... property bad, renting better.

Real Estate opportunity always exist... if for nothing else the sheer number of property that exists in California.

Take a property that is a little neglected or in need of some TLC and many say no thank you.

Buy in an area of high crime, boarded up buildings and be part of the solution... move in, fix your place up and help clean up the neighborhood... and take spackling over stray bullet holes in stride... I mean they were not aimed at you...

The age thing is a huge cop out... each generation has to make it's own way...

My first mortgage was 15%... sure were the good old days.

[CA4Now]

Originally Posted by JJonesIII

I'm sure many would have loved to purchase homes at some of these 3-3 1/2% rates as opposed to some of the double digit rates many in his generation were exposed to

If the OP really is in his early 40s, he never paid a double digit interest rate for his first home(s), unless he was dabbling in residential real estate as a child. Believe me, those of us who paid those high interest rates remember exactly when they started to decline.

Originally Posted by JJonesIII

Let's not expect other to cry tears for those that didn't take advantage of that. Buying homes have always been hard in the large metropolitan areas of California. Please don't foolishly try and discount the hardships others had to go through to purchase their homes.

It's doubtful that this poster is expecting anyone to cry tears for anyone. He's just being honest: there actually was a time when the average homeowner could buy a decent starter home here for 3 X his or her income. And those days are long gone, and probably will not return.