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Old 03-01-2009, 05:11 PM
 
Location: Los Angeles, Ca
2,883 posts, read 5,890,969 times
Reputation: 2762

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Also, from 98-07, there was an explosion of media, the number of movies, distractions, ads vs 89/90. So cal'ers are more prone to live in a media bubble, sort of oblivious to the rest of the world (and trade off's).

I think of one of the reasons why home prices in more conservaties states don't go up as much is because there don't live in a media bubble. Hard to imagine Kentucky getting 3x more expensive than Tennesse, or Kansas 2x the price of Iowa. People live on the ground there, they know the tradeoffs. There's a loopiness and crazy factor here you don't see elsewhere.

-Marketing got much more aggressive. By NAR and other parties.

-More of an entrepreneurial bent than 89/90. There are more real estate gurus, they're more popular, rich dad robert kiyosaki. It's easier to get into, easier to find a real estate group online.

But it still doesnt make any sense, because there are so many other nice places to live that didn't go up as much.
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Old 03-01-2009, 05:18 PM
 
Location: Brisbane, Australia
961 posts, read 2,566,295 times
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But no place that compares to California. People pay what they pay to live there because it is a great place to live. There is no mystery behind it.
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Old 03-01-2009, 05:50 PM
 
28,115 posts, read 63,666,290 times
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Quote:
Originally Posted by John23 View Post
What I don't understand is why so many people would live through a bubble, and not sell out.
For many, a house is a home and not an investment...

Warren Buffet could live anywhere in the world and yet he chooses to stay in the same Omaha neighborhood and in the same home he bought so many years ago.

Half the people I know that left CA have regrets... a quarter don't know why they waited so long to leave and the rest are living the best they can...
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Old 03-03-2009, 01:15 PM
 
Location: Southern California
4 posts, read 6,310 times
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Quote:
Originally Posted by cynwldkat View Post
A small home here in CA, in the San Fernando Valley, once a prized area, goes for min. $500,000. And that area is a crime ridden area now. Those homes were built around the 50's. They have no yards and many have 3 or more families living in them. To get anything nice to live in you'd pay min. $700,000. Still no yard and still not in a nice area. That's just the beginning.... in the summer months, from may to oct. our water and power bill runs around $1,500 for 2 months. We pay $700.00 a month property tax. You do the math!!!
I live in Panorama city, I hate the San Fernando valley!it was a nice place 20 years ago
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