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Old 02-26-2021, 01:31 PM
 
Location: Lifelong SoCalian
511 posts, read 196,545 times
Reputation: 1558

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I live in Palmdale. My house was worth $180k in 2011. It's now valued at around $500k. I don't plan to sell. It will drop again when the market and other forces dictate such. It will rise again after that. The seesaw goes up, then it comes down.
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Old 02-26-2021, 01:48 PM
 
Location: planet earth
8,155 posts, read 3,562,366 times
Reputation: 18205
Quote:
Originally Posted by apple92680 View Post
It depends a lot on location within the state, economic conditions, housing availability, distance from metropolitan areas, insurance rates in a given area, etc.

So, in a place like Needles (which is technically in California) prices can, and likely will, drop. However, 300 miles to the west in Irvine, prices probably won't ever drop -- unless a ton of new developments come online.
Why would anyone settle for living in Needles or any other of the terrible cities (like Bakersfield, Fresno, etc.) in CA. I seriously don't get it.

I read someone say that when the "Oakies" settled in the Central Valley, it had to be that their cars broke down, because who would want to live in any of those places when the coast is so awesome.
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Old 02-26-2021, 02:25 PM
 
9,484 posts, read 4,639,176 times
Reputation: 23736
Bricks ,cement, dirt,sand,glass.

Only in California is it exuberantly priced !

Sure it can waver in cost.
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Old 02-26-2021, 02:27 PM
 
Location: North Idaho
26,288 posts, read 34,988,387 times
Reputation: 55133
Real estate prices go up and then they go down. Then they go up again, then they go down again. Repeat, repeat, repeat.


California is no exception.
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Old 02-26-2021, 04:27 PM
 
Location: Flovis
1,205 posts, read 472,037 times
Reputation: 1128
Quote:
Originally Posted by nobodysbusiness View Post
Why would anyone settle for living in Needles or any other of the terrible cities (like Bakersfield, Fresno, etc.) in CA. I seriously don't get it.

I read someone say that when the "Oakies" settled in the Central Valley, it had to be that their cars broke down, because who would want to live in any of those places when the coast is so awesome.
Okies settled in the central valley because they didn't just want to work the farms, they wanted to own the farms. And, that's just what they did. Farming created a lot of rich Okies over the years. there's plenty of success stories with the Okies out there if one wants to do some digging.

Armenians came to the central valley because it reminded them of armenia. They found their second homeland thousands of miles away. Google armenia photos.

The time to move to the coast was in the late 90s and during the great recession. If you missed out buying then, youre SOL. Only affordable places left are santa maria/lompoc, but those places are too "small" for a lot of folks.

The reason to live in the "other california" instead of the "real california"(other=palmdale, palm springs, central valley, etc) is that you get to drive and enjoy the real california whenever you want, but you also don't have to deal with the headaches of actually living there. And, the weather isn't that bad either. ex. Much better weather than dallas(dallaska?) at a lower or similar cost. It's not for everyone, but it certainly isn't the hellhole it's made to be.

Last edited by dontbelievehim; 02-26-2021 at 04:40 PM..
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Old 02-26-2021, 05:00 PM
DKM
 
Location: Thousand Oaks, CA
5,733 posts, read 2,078,220 times
Reputation: 5593
Not down in the desirable regions where the supply isn't being increased. Not much anyway. Unless climate change ruins our perfect weather.
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Old 02-26-2021, 11:19 PM
 
Location: Sandy Eggo's North County
2,778 posts, read 943,124 times
Reputation: 3825
False.
Real Estate, like most things, are cyclical.
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Old 02-27-2021, 08:31 AM
 
853 posts, read 526,766 times
Reputation: 1136
"Location, location, location" mantra has taken quite a hit after COVID showed that most of the work paying salaries that made CA expensive in the first place can be easily done remotely from anywhere in the world. Hollywierd and farms won't do much for propping up real estate if big IT gets communismed out.
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Old 02-27-2021, 10:47 AM
 
Location: Silicon Valley
5,623 posts, read 2,587,721 times
Reputation: 9019
Never go down? False....but also improbable in the near term.
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Old 02-27-2021, 11:06 AM
 
Location: So Ca
21,185 posts, read 18,758,974 times
Reputation: 18394
Quote:
Originally Posted by littletraveller View Post
California real estate prices will never go down

Because location location location.
Anyone who's lived in California for any length of time will tell you that there have been plenty of ups and downs.

"Whatever the phase of the cycle, up or down, while it is going on people think it will last forever."

30+ Years of Bay Area Real Estate Cycles:
https://www.bayareamarketreports.com...les-and-a-baby

History of a housing bubble in Southern California:
History of a housing bubble
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