CA Homes, Affordable Yet? (rent, mortgages, houses)

[LexusNexus]

Bush has not been kind to CA. He allowed gas companies to gouge consumers in the state, charging outrageous amounts for gas. Electricity being supplied to the state was allowed to skyrocket as out of state firms who controlled the power grids gouged consumers in the state. Bush incorporated a policy that rejected various medical research like stem-cell that would benefit silicon valley. He was not a high-technology president and certainly didn't encourage federal funding of such research. What he did do was encourage the excessive influx of H-1B visas so foreigners could flood the state and take jobs from qualified CA high-tech workers. Of course his lack of regulation of the housing loan business allowed more predatory lenders to work in the state. Sure, people should've read the fine print and not have been so desperate to realize the American dream of owning a home, but there sat greater opportunities for many to be taken advantage of. As it turns out, many were. Finally, absolutely no effectiveness stopping illegal immigration into the state, further draining the resources of the state.

Despite this, I think the state is sitting pretty good. Our Republican Governor is raising taxes, which undercuts the thrust of his Republican message and emphasizes the failures of his party's philosophy in the state. Republicans stink all around. Orange county certainly a problem. Obviously a place full of people with lousy political instincts, wandering around with a false sense of superiority. Live in affluent cocoons and vote for inferior candidate in mcCain, for what? Ludicrous. Just simply saying "no new taxes" is obviously not the answer. Expect a Democratic Governor the next time around. We have a president now who is especially in tune to the needs of the state and stands to implement policies and invest in programs that favor CA. When high-tech, and investment in tech and medical research flourishes, CA does well. The nation seems to do better too. So, housing in CA is cyclical depending on where you buy. Under the Neanderthal ideology of Bush and the Republicans with its emphasis on war, war, war, there has been a severe downswing. Under Obama, an upswing is looming.

I say it's a good time to buy, but choose your location carefully. Certainly silicon valley stands to gain.

[Soccersupporter]

Originally Posted by Alexus

Bush has not been kind to CA. He allowed gas companies to gouge consumers in the state, charging outrageous amounts for gas. Electricity being supplied to the state was allowed to skyrocket as out of state firms who controlled the power grids gouged consumers in the state. Bush incorporated a policy that rejected various medical research like stem-cell that would benefit silicon valley. He was not a high-technology president and certainly didn't encourage federal funding of such research. What he did do was encourage the excessive influx of H-1B visas so foreigners could flood the state and take jobs from qualified CA high-tech workers. Of course his lack of regulation of the housing loan business allowed more predatory lenders to work in the state. Sure, people should've read the fine print and not have been so desperate to realize the American dream of owning a home, but there sat greater opportunities for many to be taken advantage of. As it turns out, many were. Finally, absolutely no effectiveness stopping illegal immigration into the state, further draining the resources of the state.

Despite this, I think the state is sitting pretty good. Our Republican Governor is raising taxes, which undercuts the thrust of his Republican message and emphasizes the failures of his party's philosophy in the state. Republicans stink all around. Orange county certainly a problem. Obviously a place full of people with lousy political instincts, wandering around with a false sense of superiority. Live in affluent cocoons and vote for inferior candidate in mcCain, for what? Ludicrous. Just simply saying "no new taxes" is obviously not the answer. Expect a Democratic Governor the next time around. We have a president now who is especially in tune to the needs of the state and stands to implement policies and invest in programs that favor CA. When high-tech, and investment in tech and medical research flourishes, CA does well. The nation seems to do better too. So, housing in CA is cyclical depending on where you buy. Under the Neanderthal ideology of Bush and the Republicans with its emphasis on war, war, war, there has been a severe downswing. Under Obama, an upswing is looming.

I say it's a good time to buy, but choose your location carefully. Certainly silicon valley stands to gain.

Time to take a CA Politics 101 class. CA has been controlled by Democrats for a long time now, the Governator is hardly a Republican, and the state is sitting pretty poorly on the brink of bankruptcy right now. Oh yeah and the school system is in deep doo doo, the housing market has crashed with still more to go to hit the bottom, you are in a drought, and if you get any a rain in the near future you will have to deal with mudslides and the devastation they will bring. I hope Obama can fix all that for you.

[flo2900]

Originally Posted by Soccersupporter

Time to take a CA Politics 101 class. CA has been controlled by Democrats for a long time now, the Governator is hardly a Republican, and the state is sitting pretty poorly on the brink of bankruptcy right now. Oh yeah and the school system is in deep doo doo, the housing market has crashed with still more to go to hit the bottom, you are in a drought, and if you get any a rain in the near future you will have to deal with mudslides and the devastation they will bring. I hope Obama can fix all that for you.

well...after Bush can anything be worse?

[EscapeCalifornia]

Originally Posted by flo2900

well...after Bush can anything be worse?

Yes.

[Soccersupporter]

Originally Posted by EscapeCalifornia

Yes.

Very likely will.

[flo2900]

The Devil will be out of the WH soon...the most embarrasing presidency in the history of US...he sure accomplish a "Mission of Distruction"!

[EscapeCalifornia]

Originally Posted by flo2900

The Devil will be out of the WH soon...the most embarrasing presidency in the history of US...he sure accomplish a "Mission of Distruction"!

Soooooo dramatic. Get a grip.

[Bob's Burgers]

Stop looking for the U.S. government your hope. True leadership comes from following the one and only King, Jesus the Christ. Pray to him not your political party.

[Charles]

Originally Posted by slowbill

Stop looking for the U.S. government your hope. True leadership comes from following the one and only King, Jesus the Christ. Pray to him not your political party.

In god we doubt.

[goodbyehollywood]

In Obama, we doubt more. Time and gravity will help CA. Home prices are still not in line with incomes, so that would indicate that further declines are likely. While desirable parts of SoCal may always command premium pricing, a 5+ multiple is still too high. I believe there's more downside.