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No I would propose people dont sell to northeasterners or Californians. Make them recognize their mistakes and feed off of each other. Basically they steal from people by jacking up prices to epidemic proportions and go somewhere else once the market has popped. They all want to move somwhere "nice" ands retire fom their looting and plundering. Except no one else can but them because they destablize the markets. Rich get richer and the poor get poorer.
I don’t agree with the tone or generalization regarding where real estate speculators come from, but I think there is some truth to the rant. Everybody knows, there was a huge pyramid scheme happening in real estate over the past five-six years due to factors like low interest rates and excess investment cash. All the wheeling and dealing in housing has adversely affected affordability for the average Joe.
Now that the bubble seems to be deflating, or popping depending on location, hopefully there will be more common sense prevailing. One thing people might do to help, is stop paying the inflated prices! Yeah, maybe you sold your home and got a lot for it, great! But instead of turning around and spending “whatever” for your next place just because you’re now flush with cash, why not take a step back and help the decline along? Make lowball offers or simply rent and wait to buy. This will cause prices to come down, and you get to keep some of your profit. Nice concept.
This is happening in some markets already. Sellers are cutting prices drastically (and still making a profit, just not $100,000 in four months.) If potential buyers keep holding out, or at least are more sensible in what they pay for a property, maybe prices will start to come back in line with reality and real estate will quit functioning like day-traded stock.
Its already to late for common sense. Prices cant go down that much. The banks wouldnt be able to lose the money they have surely invested into something else. I dont see any future for our kids. I dont even see any future for low middle class families here in the next ten years. The irony is that if ten of these people got together they could probably build a home in a few months and pay a quarter of the cost or less. A homes actual labor worth isnt near the cost price of market homes. The again the real estate inflation boom has affected all of the property too. I dont know all the numbers but you shouldnt be buying a home to turn it over and get rich quick. People who do that should go to jail for causing millions of people without an education to be robbed of any chance to find a nice home.
To bad alot of people will be stuck in some crime ridden city and if they have kids those kids wont get a good education. Of course Californians will tell you go to school as an excuse. Not everyone is cut out for the same thing and can do that. Then they would say well nice places will cost more that keeps poor people out. So they dont actually care about middle class and the poor. Thats obvious from their own state. You would think liberals would have a clue.
Well,well,well.I think the original poster does not exactly know what he is talking about.California is a huge state if you have not noticed.Supply and demand. Not much extra land to build on for several reasons.So much of our produce comes form Calif. So much land (thank god) is dedicated to this and thus not turned into a million stripmalls and cookie cutter homes.Another reason is the preservation of land.There are miles of open land that are dedicated to wildlife,trees, you name it.Counties are not dumb enough to destroy the natural beauty that is known for the state.So many areas of the state became popular for the rich who have second homes there. Yes, alot of rich people who live in other states bought the litte nothings of a home, tore it down and rebuilt.Anything near the ocean is a playground for the wealthy.They all had something to do with driving the cost up. Any town along the coast which is indeed beautiful is expensive for obvious reasons.Look at what you have to be surrounded by on a daily basis. Mountains and ocean.Go inland,prices come down a bit.People in Calif. are disgusted with all of this as well.Blame Silicon Valley and the tech industry. People who worked for these companys became instant millionaires overnight. They also could all of a sudden offer ridiculous prices for the worst run down houses and rebuild.It really started taking this inflated direction when the tech industry was at it highest.
But i will say this, i am one of the lucky ones myself. Doubled my equity in 5 years and what a windfall it was. Took my money and ran with it
Yea pound your chest because you got some sucker to by your problems out. You people are rich and delusional. Just like I said shallow and uncaring for what you do. You shouldnt be allowed to move anywhere else. And there is plenty of land in NorCal. More than the entire state of Ohio that doesnt need to be a designated natural park. Thats just more of the usual money grubbing strategy. Same thing in Austin Texas. Endless land all around and they have a supply problem? Yea okay. The interior of Texas is vast and plentiful for any amount of sprawl for the next fifty years+.
They should have to go down with their ship. They have caused housing all over the entire country to be so unrealistic it is causing millions of families to not even be able to purchase a home or rent a home anywhere halfway descent. Same goes for the northeasterns. It caused people to blindly start inflating housing all over the US trying to get rich off the next poor sucker they can dupe into twnety more years of his life paying on something he will never own. they dont think of the longterm damage its doing. They're all about monetary value and will screw up your state bad. It didnt work in Ca and now they all want to jump ship to cause the next inflation boom. Thats what they do go from one place to another looking down on folks and taking advantage of people. Like termites that destroy homes. They cause rapid inflation. They cause once setttled an stable areas to crush the lower income folks with an iron grip.
Northeasterns and Californians we thank you for inflating housing markets so bad that people can pay their life away for small boxes and manufactured homes.
I'm a native Californian who used the equity growth of my home in California to buy a magnificent home and property in Las Vegas in 2000, rode that boom and sold last June and paid cash for an estate in Missouri.
Unlike you, the people I've met have been wonderful and friendly and don't give a darn about where I come from, but accept me because I'm polite, friendly, hold American values, and respect them. The people who owned the house I bought sure seemed happy to accept my cash. It is green, has presidents on it just like everywhere else in the country. And, I actually brought the price lower by $40,000, so I actually DEPRESSED the price. Go figure.
If you're so poor that you have no home-buying prospects, it seems likely that the first place to turn is inward and take a good look at yourself and ask why you can't ever see yourself buying a home. It may have to do with a lack of skills and education for the job markets and that you can fix. Blaming others won't cure your apparent lack of skills or ambition.
I bought a home in the San Francisco Bay area when everyone told me I could never find a home I could afford. Stop complaining and get off your ass and work for your dreams.
I have worked my ass off. But you know what? The economy almost came to a complete standstill in Ohio and prices were still going up. There are very few new homes going up. Im talking about average homes prices. Not beach condos in Malibu. Descent clean areas without money grubbing folks like you. Where people arent looking to get rich off of real estate and screw the next generation. You rode the next boom to get rich quick. Somehow that makes you feel smarter because you got what you want. WOW!
Yea pound your chest because you got some sucker to by your problems out. You people are rich and delusional. Just like I said shallow and uncaring for what you do. You shouldnt be allowed to move anywhere else. And there is plenty of land in NorCal. More than the entire state of Ohio that doesnt need to be a designated natural park. Thats just more of the usual money grubbing strategy. Same thing in Austin Texas. Endless land all around and they have a supply problem? Yea okay. The interior of Texas is vast and plentiful for any amount of sprawl for the next fifty years+.
Rich, hardly!I worked for the rich and thats a whole different world out there.
Shallow and uncaring. No not even remotely. You tell me if you own( or owned) a home and put it up for sale, are you are going to drop your price tremendously just to prove a point? I sold for what the maket was bearing at the time, which in fact was less than the previoulsy 6 months before.I actually "lost" $50k.
Why shouldnt land be preserved in Northern Calif. to be designated a natural park?Are you out of your mind? Have you ever been to Calif.?Somehow i just dont think so.
Im sure evryone in the United States knows its crowded, polluted, delusional, overrated, overpriced, and shanties cost six lifetimes of work to pay off. I didnt say anything about selling your house for a profit. Housing is going to appreciate. But people that go out of their way to get rich quick from buying up real estate and jack prices up shouldnt be allowed to purchase anymore real estate. Look what its done to places that arent overcrowded like SoCal. You think im crazy. So I think SoCal is crazy. With all that crime you would think some of those people would actually spank a kid once in awhile and teach them to accept responsibilty. But you would be thrown in prison for spanking your kid out there. California is extremely delusional and disorderly. All they do is teach the next generation how to get what they want at everyone elses expense. That wont solve anything.
Look at Oregons prices and population. Highly expensive property(probably largely due to Californians moving there and inflating prices) and a very low population count. Seattle? You have to be rich to live in Seattle. And those people are suppose to be liberal and understanding? Doubt it.
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re: prices
