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Old 09-15-2015, 02:01 PM
 
2,645 posts, read 3,331,964 times
Reputation: 7358

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Quote:
Originally Posted by capoeira View Post
Its not extremely unlikely, its almost 100% certain to happen, the only question is the timing.
To delve into that level of absurdity, one must believe that their house would be the one out of 20+ million homes in the state that was actually devastated by an earthquake, was uninsured, and by some freak stretch of bad luck, was sitting on property that became uninhabitable due to a newly created crack in the earth.

100% certain? Really? Now we're just getting silly.

Definitely anyone with that imagination has no business living in the state.
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Old 09-15-2015, 02:19 PM
 
3,247 posts, read 6,303,295 times
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Quote:
Originally Posted by LoriBee62 View Post
To delve into that level of absurdity, one must believe that their house would be the one out of 20+ million homes in the state that was actually devastated by an earthquake, was uninsured, and by some freak stretch of bad luck, was sitting on property that became uninhabitable due to a newly created crack in the earth.
It is very unlikely that a wooden frame single family home will be destroyed by an earthquake. However when the earthquake occurs and causes a trillion dollars of regional economic damage the demand for houses in the area will decrease dramatically. The million dollar 1200 sq. ft. starter home will fall in value. Suppose it drops to $800,000. Goodbye down payment. Suppose it drops to $500,000. You owe money to walk away if you have a 20% down mortgage.

Quote:
Originally Posted by LoriBee62 View Post
100% certain? Really? Now we're just getting silly.
I suggest you study geology and plate tectonics. It is 100% certain that California will have major devastating earthquakes in the future. It might be tonight, next year, in 2023 or in 2078. Considering that the Hayward fault has a 140 year pattern I think it could occur anytime in the next 10 years.
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Old 09-15-2015, 02:35 PM
 
Location: Carpinteria
1,199 posts, read 1,649,530 times
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Earthquakes going to happen. When it happens, it happens. I'm more concerned about the drought that is happening. When is it going to stop? Whats property values going to be like when it does. And you think we in California have a fault. Then you won't want to relocate to the North coast. The Earthquake That Will Devastate the Pacific Northwest - The New Yorker
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Old 09-15-2015, 03:08 PM
 
2,645 posts, read 3,331,964 times
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Quote:
Originally Posted by capoeira View Post
It is very unlikely that a wooden frame single family home will be destroyed by an earthquake. However when the earthquake occurs and causes a trillion dollars of regional economic damage the demand for houses in the area will decrease dramatically. The million dollar 1200 sq. ft. starter home will fall in value. Suppose it drops to $800,000. Goodbye down payment. Suppose it drops to $500,000. You owe money to walk away if you have a 20% down mortgage.

I suggest you study geology and plate tectonics. It is 100% certain that California will have major devastating earthquakes in the future. It might be tonight, next year, in 2023 or in 2078. Considering that the Hayward fault has a 140 year pattern I think it could occur anytime in the next 10 years.
I don't need to study anything but the history of the state and the fact that no major earthquake in its history has ever had any long term negative financial impact on home values. But again, I'll repeat myself since I apparently have to: Anyone so freaked out about natural disasters should probably avoid home ownership. Crap happens. And at the risk of keeping you up at night, nowhere is safe and no one is immune from peril.
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Old 09-15-2015, 03:30 PM
 
3,247 posts, read 6,303,295 times
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Quote:
Originally Posted by LoriBee62 View Post
I don't need to study anything but the history of the state
If you studied the history of the state you would know that the population of Hayward was only around 500 people in 1868 so there wern't many homes to fall down. Plus back then most people could probably rebuild their own home.
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Old 09-15-2015, 04:44 PM
 
2,645 posts, read 3,331,964 times
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The Big One in 1906 burned down the whole city of San Francisco. It was rebuilt in 2 years. Loma Prieta 1989 wrecked a scattering of homes in the marina. It never stopped being one of the most desirable areas of San Francisco. Northridge, Napa, neither of those quakes caused any long term depression of home values. And with every year that passes, architecture improves to withstand stronger quakes. But don't take my word for it. Go ahead, be afraid. Buy that $100k mansion in Waco and rest easy knowing that 20 years from now it will still be worth $100k.
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Old 09-15-2015, 06:11 PM
 
94 posts, read 147,627 times
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Quote:
Originally Posted by LoriBee62 View Post
Buy that $100k mansion in Waco and rest easy knowing that 20 years from now it will still be worth $100k.
So what's the problem? He gets his money back. Not to mention gas is super cheap in TX...etc etc
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Old 09-15-2015, 06:27 PM
 
Location: Pacific 🌉 °N, 🌄°W
11,761 posts, read 7,263,697 times
Reputation: 7528
Quote:
Originally Posted by Mr5150 View Post
So Texas has mountains that soar to 14000 feet and a valley that is 200 feet below sea level? Trees that are 2000 years old and 12 feet in diameter. How about snow? Yes CA gets tons of snow. How many ski resorts does Texas have? How is this year's Almond crop doing in Texas? Last Movie made in Texas is...?

Please, if you don't like CA fine. Just go away and enjoy your home State as I do. But sorry, Texas is not as diverse as CA. But Texas does beat us when it comes to humidity.
Odd that instead of accepting that Texas is just as diverse as CA geographically, you try to make a stupid comparable analysis that had nothing to do with my statement.

I guess ignorance is bliss for some. You are a perfect example of the many Californians who have no clue about other states.
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Old 09-15-2015, 07:24 PM
 
Location: So California
8,704 posts, read 11,124,091 times
Reputation: 4794
Quote:
Originally Posted by LoriBee62 View Post
The Big One in 1906 burned down the whole city of San Francisco. It was rebuilt in 2 years. Loma Prieta 1989 wrecked a scattering of homes in the marina. It never stopped being one of the most desirable areas of San Francisco. Northridge, Napa, neither of those quakes caused any long term depression of home values. And with every year that passes, architecture improves to withstand stronger quakes. But don't take my word for it. Go ahead, be afraid. Buy that $100k mansion in Waco and rest easy knowing that 20 years from now it will still be worth $100k.

What state are you from?
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Old 09-15-2015, 07:27 PM
 
Location: So California
8,704 posts, read 11,124,091 times
Reputation: 4794
Quote:
Originally Posted by Matadora View Post
Odd that instead of accepting that Texas is just as diverse as CA geographically, you try to make a stupid comparable analysis that had nothing to do with my statement.

I guess ignorance is bliss for some. You are a perfect example of the many Californians who have no clue about other states.

Ive lived in each state a minimum of 18 years each. California is more diverse, it is more diverse than any other state, but thats no knock on Texas. Texas is huge, sprawling and has a lot of diversity of its own, just not quite as much.
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