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Old 05-08-2018, 01:26 PM
 
Location: Los Angeles (Native)
24,151 posts, read 13,675,815 times
Reputation: 11364

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Quote:
Originally Posted by oldtrader View Post
Problem, it forces the builders to raise the rent or prices on the luxury units. This in turn makes it impossible for a lot of people that would have qualified to get one of the luxury units, to buy or rent them. Those people were just priced out of living in those buildings by the additional rent/price.
Yeah I agree . I donít think having government so involved in housing and telling landlords or developers what to charge is a good thing .

Itís socialism or something close to socialism .

Like you said it actually hurts the consumer more than the developer because they end up having to pay a higher price to make up for the subsidized units .
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Old 05-08-2018, 04:01 PM
 
9,077 posts, read 5,402,146 times
Reputation: 5971
Quote:
Originally Posted by oldtrader View Post
Your family members really do not understand the real world. If we compare wages for a
computer programmer which is a lot of jobs in both California and Texas, plus 4 other states that are heavy into computer programming, and adjust the wages for the cost of living, you will find that California is the lowest paying not the high pay your family members assume.

Salary by State: Where Can You Really Earn the Most?

California is second behind Washington for actual pay, but when it is adjusted for difference in cost of living, it is below all the other 4 including Texas, Washington, Utah, Colorado, which today are all big high tech states. If you look, you will find it is the 14th highest paying state, for the job in the United States, with cost of living adjustment.

It is amazing how many people in California believe they are number one in such things as pay. And they are all wrong.

And when it comes to computer hardware engineers, they are 4th out of that group of 5.

Salary by State: Where Can You Really Earn the Most?

Go to something like accountants which are needed in all states, and their adjusted income is 31st no where near the #1, that your family members think it is.

Salary by State: Where Can You Really Earn the Most?

It is amazing, how many in California keep talking about the great wages in California, when they are compared with other states, the spendable income is considerably less, than many others.

First of all, I question the accuracy. The CA average salary for a computer programmer looks low. There are interns who make close to that.

Second, the cost of living in CA drops (adjusted for inflation)the longer a person lives there in many cases. The property tax is capped, there is rent control, home maintenance cost is lower than many states, car maintenance lower than in many states (due to the weather), etc . Sure, for a new comer, the pay vs COL may be something to ponder; but for people who had settled here, living in CA keeps their expenses in check while they reap the benefits of salary and real estate appreciation. In CA, there are people living in a million dollar house and paying $3,500 property tax. Those are savings that long time residents see and the COL formula does not take into account. I think if they do a comparison over a 20 year period, the one living in CA wins.

Third, there are expenses that the COL calculator doesn't take in to consideration. Ever travel? A hotel in Paris cost the same to someone from CA as someone from TX. Same for airfare, new cars, big screen TVs, etc. The COL line of thinking come out ahead only if that person confines his spending within his local area, which is impossbile imo.

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