Natural decrease in California's population (Los Angeles, San Diego: sales, 2013, how much)

[tikkasf]

[quote=Tulemutt;63194833]Oh? You keep saying that. My driver’s license, tabs, mailing address, voter’s registration, taxes, and monthly rent checks all disagree with you. [/quote


Unless I got it wrong.......that respondent is the one who does not live in CA......the individual might miss CA though

[2sleepy]

Originally Posted by Teacher Terry

Many Californians are selling their homes for a lot of money and moving to Reno where homes are much cheaper. This is really increasing our real estate and COL. I don’t blame them of course because this enables many of them to retire. But it’s negatively affecting the locals ability to afford homes.

Homes are much cheaper in Reno? Maybe cheaper than San Francisco but not cheaper than most of California. In February average sale price for a home in Reno was $580,000, in Sacramento median sale price for the same month was $522,000

[MtnSurfer]

Originally Posted by 2sleepy

Homes are much cheaper in Reno? Maybe cheaper than San Francisco but not cheaper than most of California. In February average sale price for a home in Reno was $580,000, in Sacramento median sale price for the same month was $522,000

Yes, I think the plea that Californians need to stop moving to my state (pick any one) is a futile false hope. For most of these states and especially the boarder states like NV, its already happened and too late. Just look at the prices in the larger Reno and Vegas metros including their surrounding towns. Then, look at the PNW where we moved to along with many other popular state for California migration including Colorado, Arizona, Texas, Florida, etc...

I hate to break it to you. But there's nothing special about Reno when compared to all these other states which are also growing in population as well. Are the locals sour about it in other places? Sure. Why? Because Californians move in with more money and buy up the homes which eventually raises RE values. It's pretty simple.

Unless we change the way America works fundamentally as a capitalistic society where Americans and others can move anywhere and buy property, no wishful thinking or sour grapes from locals will even make a dent in that reality. Though that doesn't mean they won't hope for it, I guess.

Just for perspective, California has been on the receiving end of massive inbound migration from all over the nation and world since counting population growth began. Who should Californians blame for that when its everyone and their brother, aunts, uncles and second cousins? So, whatever affects your towns are all of sudden experiencing are merely a drop in the bucket compared to those same affects which Californians have experienced for decades (i.e. our entire lives). It's just been par for the course in living in America. And there's been no stemming that tide regardless how bitter some locals may become over all these changes. They are simply facts of life just like the cost of other things rising with inflation. Yet home values have always been disproportionately expensive compared to most residents' incomes. What can be said beyond life isn't fair? Add to that foreign investors and, well, it just doesn't seem right, perhaps? But that's just the way real estate and economics work in America - the land of the free.

Derek

[Tulemutt]

Originally Posted by MtnSurfer

Yes, I think the plea that Californians need to stop moving my state (pick any one) is a false hope. For most of these states and especially the boarder states like NV, its already happened - too late. Just look at the prices in the larger Reno and Vegas metros including their surrounding towns. Then, look at the PNW where we moved to along with many other popular state for California migration including Colorado, Arizona, Texas, Florida, etc...

I hate to break it to you. But there's nothing special about Reno when compared to all these other states which are also growing in population as well. Are the locals sour about it in other places? Sure. Why? Because Californians move in with more money and buy up the homes which eventually raises RE values. It's pretty simple.

Unless we change the way America works fundamentally as a capitalistic society where Americans and others can move anywhere and buy property, no wishful thinking or sour grapes from locals will even make a dent in that reality. Though that doesn't mean they won't hope for it, I guess.

Just for perspective, California has been on the receiving end of massive inbound migration from all over the nation and world since counting population growth began. So, whatever affects your towns are all of sudden experiencing as merely a drop in the bucket compared to those same affects which Californians have experienced for decades. It's just been par for the course in living there. And there's been no stemming that tide regardless how bitter some may become over all these changes. They are simply facts of life just like the cost of other things rising with inflation. Yet home values have always been disproportionately expensive compared to most residents' incomes. What can said beyond life isn't fair? Add to that foreign investors and, well, it just doesn't seem right, perhaps? But that's just the way real estate and economics work in America.

Derek

Great post ^^^

[CA4Now]

Originally Posted by Racer46

It would be interesting to see how big a difference this is compared to in the past decades. Most young people could not buy when young in CA as far as I can remember or in the following decades from when I was growing up.

I don't know when you grew up, but even back when interest rates were in the double digits, yes, you could buy....it might have been a fixer or not in the greatest school district, but middle class people could buy a starter home/condo for somewhere in the neighborhood of 3 X their income. They no longer can.

[MtnSurfer]

Originally Posted by CA4Now

I don't know when you grew up, but even back when interest rates were in the double digits, yes, you could buy....it might have been a fixer or not in the greatest school district, but middle class people could buy a starter home/condo for somewhere in the neighborhood of 3 X their income. They no longer can.

While there is some truth to this, hasn't this same trend been occurring across the nation in all the most desirable cities which also have economic hubs and decent paying jobs? That is the shrinking of the middle class in terms of buying power with regards to RE? I know we have similar complaints about it here in the PNW.

That said, California, as the most populous state, tends to lead these socioeconomic trends in America for better or worse. While not California's fault, it does tend to start there.

Derek

[Teacher Terry]

I never once said that people should stop moving here. In fact I said that I don’t blame them. I have lived in 5 states and am not a native either. That’s interesting about Sacramento now being cheaper than us.

[2sleepy]

Originally Posted by MtnSurfer

Yes, I think the plea that Californians need to stop moving to my state (pick any one) is a futile false hope. For most of these states and especially the boarder states like NV, its already happened and too late. Just look at the prices in the larger Reno and Vegas metros including their surrounding towns. Then, look at the PNW where we moved to along with many other popular state for California migration including Colorado, Arizona, Texas, Florida, etc...

I hate to break it to you. But there's nothing special about Reno when compared to all these other states which are also growing in population as well. Are the locals sour about it in other places? Sure. Why? Because Californians move in with more money and buy up the homes which eventually raises RE values. It's pretty simple.

Unless we change the way America works fundamentally as a capitalistic society where Americans and others can move anywhere and buy property, no wishful thinking or sour grapes from locals will even make a dent in that reality. Though that doesn't mean they won't hope for it, I guess.

Just for perspective, California has been on the receiving end of massive inbound migration from all over the nation and world since counting population growth began. Who should Californians blame for that when its everyone and their brother, aunts, uncles and second cousins? So, whatever affects your towns are all of sudden experiencing are merely a drop in the bucket compared to those same affects which Californians have experienced for decades (i.e. our entire lives). It's just been par for the course in living in America. And there's been no stemming that tide regardless how bitter some locals may become over all these changes. They are simply facts of life just like the cost of other things rising with inflation. Yet home values have always been disproportionately expensive compared to most residents' incomes. What can be said beyond life isn't fair? Add to that foreign investors and, well, it just doesn't seem right, perhaps? But that's just the way real estate and economics work in America - the land of the free.

Derek

Good post!

[MtnSurfer]

Originally Posted by Teacher Terry

I never once said that people should stop moving here. In fact I said that I don’t blame them. I have lived in 5 states and am not a native either. That’s interesting about Sacramento now being cheaper than us.

Ok, well, I think many locals want it to just stop mainly due to the rising cost of housing along with population growth. And yes, it affects their ability to buy homes just like it affects native Californians who are competing with outsiders around the world in their own hometowns. These supply/demand economics can sometime ruin your day if hoping prices would not rise or at least not as quickly as expected.

I personally think there is a nationwide leveling going on right now in terms of RE values due to many recent economic factors. And so, the places which were low and 'undervalued' in relation to other higher cost areas are seeing the greatest and most rapid increase perhaps in their existence as a town/community. For those waiting for prices to drop, it may be a very looooong wait if it ever happens at all.

BTW, compared to Reno and many other places like it (Vegas area, etc...), I think Sacramento is a hell of deal right now.

Derek

[Racer46]

Originally Posted by CA4Now

I don't know when you grew up, but even back when interest rates were in the double digits, yes, you could buy....it might have been a fixer or not in the greatest school district, but middle class people could buy a starter home/condo for somewhere in the neighborhood of 3 X their income. They no longer can.

I grew up in the 60's. I knew no one in OC that was my age that could buy a home until in their 30's, except the children of wealthy parents. I bought my first one in my 30's. Some friends never could and ultimately left. Some that did still moved to the PNW as the profit made life there easier. Now when the interest rates went double digits, I had already bought a home. Uniquely many were still buying homes and not all were wealthy by any standard. This was in North SDC. Not sure about OC then and the I.E. was definitely inexpensive. Most young then and now, were not in the middle class, though they were beginning to get close to it. Those that went to college did a little better, but did not have the college education debt that exists for so many now. None inherited a parents home until they were in the late 40's or older. As far as I can remember they all sold them and split the money with siblings except I believe 1.