Aside from property prices, property taxes and gas, is California that much more expensive than other states ?

[GoldKona]

Originally Posted by BobPhipps

That's called a pipe dream. What will happen is the top 1% will enjoy their lives among their peers. The supply of houses will not go up, it will merely change hands to the elite.

P.S. Rents have come down dramatically if you haven't noticed (despite the fact that housing is still appreciating).

That was my point. The number of houses for sale will increase not the supply/number. CA, We're Full. Turn Around. Rent decrease will be short lived although CA investors are not buying for "PASSIVE CASH FLOW" LOL. That's the MidWest SCAM. As soon as the robots start replacing the low level workers they all will be packing for Texas. Yee Haw!

[BobPhipps]

Originally Posted by GoldKona

That was my point. The number of houses for sale will increase not the supply/number. CA, We're Full. Turn Around. Rent decrease will be short lived although CA investors are not buying for "PASSIVE CASH FLOW" LOL. That's the MidWest SCAM. As soon as the robots start replacing the low level workers they all will be packing for Texas. Yee Haw!

Of course, Liberal hypocrisy at its finest. But oh so nice to create a haven for the tech workers.

[CA4Now]

Originally Posted by ohio_peasant

I can only speak for my own generation. I was a youngish fellow in the mid-1990s, earning my first "professional" salary. The LA market was, to put it mildly, sleepy. A modest house in an OK area could be bought for under $200K, circa 1995. I had the opportunity to purchase, but didn't. Today that house is $800K, or more. LA real estate over 25 years has kept pace with the S&P 500. Amazing, isn't it?

Can you jump in now and buy a condo or a fixer? In ten years you'll undoubtedly see an increase. We can never predict the housing market. I remember one of our homes purchased just as after a particular housing bubble popped ('90) that, five years later, was worth 20% less than its purchase price. We wanted something bigger but had to stay in it, since we couldn't afford to move with the loss of equity. Granted, not something every buyer can do if they're faced with a job transfer or a financial hit due to medical issues, job loss, or an aging/dependent family member. But as you said, you'll probably stay in California, and you'll be able to look back in a few years and be amazed at how little--relatively speaking--you paid for your place.

[BobPhipps]

Originally Posted by Racer46

Correction: the land of milk and Money

And the sad thing is it's turned into a state where the only thing that matters are self interests. Renters call Landlords greedy. Landlords are mad that their SALT deductions were taken away. Children that were priced out and hoped to get back some day are having laws passed to make it impossible to get back in by elitists that think they are more deserving. And then you have people who think you're being subsidized when you pay the government money. Yeah, you really can't make this stuff up. I gave up a long time ago trying to figure it out.

I'm just glad there are some rational people still around like you that at least make some sense when I read your comments.

[GoldKona]

Originally Posted by BobPhipps

having laws passed to make it impossible to get back in by elitists that think they are more deserving.

Where were you and all your friends at when the voting was happening. Why didn't you make sure to vore for the "right" laws? You know poor renters can vote also?