Southern California's rent prices have started to explode. (company, financial, income)

[payutenyodagimas]

I and my spouse arrived in 2006 as immigrants. prices are already insane then. we just saved and saved, invested in the stock market, fund our 401ks and 8 years later, we had 20% down. we could even buy in cash if we wanted to liquidate our 401ks but we just settled on 20% down on a house we could conveniently afford and near our place of work. a house is just a house for us, not an investment (although who would not want it if it appreciates better than stocks?)


the key is income. there is a certain level of income you need to live in SoCal or CA in general. below that, I think you are better off in other state where the COL is lower.


judging on the traffic and price of real estate ,I don't think Californians are moving by the droves

[ringwise]

Originally Posted by DKM

Speaking of not quitting your day job to be economist. smh...

Did you see that I said I just bought a house here? I'm already paying what its worth so repeal would not increase my taxes.

But it would down the road.

[NoNansea]

Originally Posted by lily4881

It's ridiculous, I and many other renters are looking forward to a big hard housing crash of 50% or more on the prices.

Don't hold your breath.

[NoNansea]

Jayrandom: "Doesn't Prop 13 allow a reset to valuation at sale? Shoppers are already burdened with higher taxes, I thought the main effect would be to force many older homeowners to have to sell, increasing supply. Is there something I'm missing?"

Yes, big time. One of Prop. 13's goals was to avoid forcing older homeowners to have to sell.

[DKM]

Originally Posted by ringwise

But it would down the road.

Only if the value of my house increases by more than 2% a year would it affect me. And if its doing that, I'm making a LOT more money than the increase in my taxes cost me.

[jetgraphics]

We're being punked by the gubmint...

https://www.federalreserve.gov/faqs/currency_12773.htm
Q: How much U.S. currency is in circulation?
A: There was approximately $1.56 trillion in circulation as of July 12, 2017, of which $1.52 trillion was in Federal Reserve notes.

U.S. Population (2017) : 326,474,013
>>> $4,655 per capita <<<

Federal Budget (2017): $3.65 Trillion
<<< $11,180 per capita >>>

"HOUSTON, WE HAVE A PROBLEM..."
We owe over $20 trillion, and there’s only 1.52 trillion dollar bills circulating.

https://en.wikipedia.org/wiki/Financ..._United_States
The financial position of the United States includes assets of at least $269.6 trillion (1576% of GDP) and debts of $145.8 trillion (852% of GDP) to produce a net worth of at least $123.8 trillion (723% of GDP) as of Q1 2014.

!!! WUH WOH SCOOBY !!!

Not only can we never pay off the public debt, all those outstanding debts and accounts receivable and pension plans and retirement accounts can NEVER be “cashed out” - there’s not enough money nor legal tender.

Why can’t CONgress deal with this madness?

14th amendment, Section 4. THE VALIDITY OF THE PUBLIC DEBT of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, SHALL NOT BE QUESTIONED.

Yes, the system will crash - that is inevitable.
The question is : who is liable to pay that impossible obligation?
Are all debtors ruined or are all creditors ruined?
Stay tuned for more - - - -

[Perma Bear]

Originally Posted by s1alker

People are flocking there not because of the warm weather, but because of the modern job market which is tech based. Many of those tech companies base out of California.

All you need to make a tech company is office space, electrity, internet, and basic programming skills. This can be done anywhere.

[jetgraphics]

To add salt to the wound - - -
Houses are built like [expletive deleted]
https://dengarden.com/misc/American-...nd-Bad-Quality

One striking aspect of houses in America is the flimsy quality of even the most expensive ones. Houses are built literally like a house of cards. Weak beams, plywood, flimsy insulation, flimsy siding and roofing that either blows off in high winds or just rots away after a few years. Its really no wonder that come tornado or hurricane and houses are literally ripped off of their foundations and tossed into the air.

DISASTER PROOF HOUSING IS NOT TOO EXPENSIVE
There’s a company (TriDiPanel) that posted pictures of a Habitat for Humanity house built using their concrete sandwich wall method in hurricane prone Florida (with Jimmy Carter’s help no less!). They had a post hurricane shot of the house to show their prowess. The home owner was beaming that only her house still stood among the splintered wreckage of her neighbors. What a story ! Success for the little guy.
Tridipanel - Hurricanes and Tornadoes - 1 of 14 homes damaged - Eco Friendly Home | Green Homes Building | Environmentally Friendly Home

However, after the notorious New Orleans disaster, HfH was back to building WOOD FRAME housing - in termite infested, flood prone, humid gulf coast and especially New Orleans.

THIS MAKES NO SENSE.

[djohnslaw]

people can cry all they want and call landlords greedy but it's not greedy to make an investment and want to maximize profits it pans out. greedy is expecting someone (a total stranger) to rent their property to you at an artificially low rate because you want to live somewhere.if these same investments didn't work out they wouldn't offer landlords extra money out of the goodness of their heart.

[djohnslaw]

Originally Posted by DKM

There's not a better place in the world to live and I'm glad I moved here. I think anyone who leaves and doesn't have to is crazy.

you haven't been many places.