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Old 02-28-2021, 02:24 PM
 
Location: Sierra Vista, AZ
16,733 posts, read 22,093,852 times
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Quote:
Originally Posted by steiconi View Post
I have direct experience with just one house in California. Here's how it has gone:
1987: Bay Area housing is so expensive. We could hardly find anything under $100K!
1992: The market is so bad, nobody will pay $170K for this house.
2005: Prices are out of control, let's sell! (Went for $540K a week later.)
2008: Yikes, it was foreclosed and resold for $170K.
2013: Sold for $380K
2018: Oh my, it's worth $540K again!
2021: Zestimate $619K

So I'd say prices trend upward, with notable downswings. When interest rates go up, prices come down. Shop smart, and you can do well.
There are counties that rarely have a sale under 1 million dollars
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Old 02-28-2021, 05:02 PM
 
Location: Columbia, SC
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They'll fluctuate up and down with the market, but long term they'll increase as has most of the country. Right now, people are leaving Cali, not moving there though.
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Old 02-28-2021, 06:23 PM
 
13,931 posts, read 3,702,220 times
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Quote:
Originally Posted by saibot View Post
Prices have gone up and down quite a bit just over the past 12-15 years; you can't say they have "never" gone down or will "never" go down again. But will there be a time when California housing prices will decline to a point where they are commensurate with housing prices in less desirable, low COL states like Arkansas? I highly doubt it, not in any of our lifetimes.

If California real estates fall to the level that Arkansas currently is, then Arkansas will really be a good deal. Only way I see that is inflation causing interest rates to spike way up making new loans a lot more expensive.
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Old 03-01-2021, 06:22 AM
 
Location: Sierra Vista, AZ
16,733 posts, read 22,093,852 times
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They went down in 2005-06. I offered $600,000 for a house in Vallejo the told me they were going for $1 million. Two months later it was auctioned for $280,000 a year after that it was almost a million again.
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Old 03-01-2021, 09:49 AM
 
6,776 posts, read 3,457,689 times
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Quote:
Originally Posted by oregonwoodsmoke View Post
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.
Have they ever gone down in Hawaii over the past 70 years? Very briefly and very little, if at all.
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Old 03-01-2021, 10:31 AM
 
1,995 posts, read 2,277,884 times
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Quote:
Originally Posted by littletraveller View Post
Because location location location.

What are your thoughts?
The long term trend has always been up, up, up, but there have been downturns, the most recent one lasting nearly a decade. So just don't get caught leveraged during one of said downturns and you should be OK. (However, last time around a lot of people were just in that sort of pickle).
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Old 03-01-2021, 12:10 PM
 
Location: Lifelong SoCalian
497 posts, read 193,104 times
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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.

While not awesome, neither Bakersfield nor Fresno is "terrible". I would find either of them to be far more tolerable than Las Vegas or Phoenix. Both have the Sierras in the backdrop and access to some of the most scenic country on the planet. Some of us actually do appreciate living in a state with both a good social safety net and access to beautiful scenery.

In addition to "Okies" settling the Central Valley, there were also a lot of Basque, Portugese, Italian (specifically Sicilians and Calabrians), Greeks, Armenians and Volga Germans. A lot of these communities still thrive up and down the Central Valley from Sacramento to Bakersfield. Mexican Americans, Hmong and Indians are just the latest to add to the valley's rich cultural mix.

Last edited by apple92680; 03-01-2021 at 12:26 PM..
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Old 03-01-2021, 07:15 PM
 
13,931 posts, read 3,702,220 times
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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.

They choice the central valley because its excellent farmland. These people were farmers. They also did not have much money. So buying acreage for farming near the coast was not possible.
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Old 03-01-2021, 09:52 PM
 
Location: South Park, San Diego
5,634 posts, read 8,709,529 times
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Quote:
Originally Posted by Oklazona Bound View Post
They choice the central valley because its excellent farmland. These people were farmers. They also did not have much money. So buying acreage for farming near the coast was not possible.
The rhythm of seasonal and sometimes inland-sea type flooding of the great inland valleys of California over the millennia deposited rich nutrients in the soil that exist to this day regardless of the massive engineering projects that have taken place to shift water resources from one region to another. California was and still is an agricultural powerhouse and that’s what the Okies knew how to work with.
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Old Today, 02:52 PM
 
Location: Dessert
5,769 posts, read 2,728,167 times
Reputation: 14989
Quote:
Originally Posted by Arktikos View Post
Have they ever gone down in Hawaii over the past 70 years? Very briefly and very little, if at all.
Sure, they dropped 2005-2008 or so. We waited it out and saved more than we paid in rent.
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