Housing affordability index in San Diego for 2021. Score of 45 for detached and 65 for attached. (Santa Barbara: to rent, condos)

[hitman619]

Originally Posted by Strannik33

Folks, what's all this socialist nonsense? Everyone wants to be in SD, true -- including myself, as I'd like to retire there one day. The weather is near-perfect! (And I am well aware of the downsides of living there.) Why does it surprise people that foreigners and the large US RE firms know it too and buy the properties there, helping to send the RE prices through the roof?

Trying to prevent this by some regulation and taxation would only lead to more socialist takeover of the economy, not to make the housing more affordable. Read about what rent control does to the availability of apartments in NYC, St. Louis, etc. We are living in a still-free market economy, where people can buy what they want where they want, not to be assigned some residence papers, as they do in the communist countries. The fact that more successful people can have better homes and can afford to live in the nicer areas is the bedrock of capitalism. Without it, there is no incentive for risk-taking and hard work. (Unless you think that the $$ comes from wringing the juices from the proletariat -- you're in the wrong country then.) If you want to be assigned a voucher to live in a nice area, impoverish yourself and enter a lottery for low-income housing.

All this probably sounds harsh, but that's life. Trying to get the government into improving it is the road to ruin.

BTW, much of the RE in Hawaii is Japanese-owned. People might grumble, but again, it's a fact of live. Deal with it.

Than i guess I'm a socialist, whats wrong with That
Although i partially agree with you that, getting the government involved with anything this big, is never a good ideal. My Reasoning comes from our elected officials protecting special Interest, lobbyist that donates to their campaigns, over the needs of the American Tax Payer that elected them.

[NYSD1995]

Originally Posted by NORTY FLATZ

But yet there are still buyers that are young and all cash...

I sold my mom's house in 2018 (before everything went nuts.) Out of the 11 bidders, 6 were all cash (these were all RE agents, btw.).

Since 2018, the property has gone up in value about a million more...

My kid just sold they're place in Escondido (closes tomorrow) the young family wrote a check for it. How they're doing it? I don't know, but they're doing it. Maybe bought crypto when it was cheap?

Buy $8000 in BTC a couple years ago, you'd be sitting on $5.7 Billion. Think about that for a moment. I wonder what the cost of the Big Island would be? (I always did like the Kona area.) So yeah, it's like that, I guess?

Mostly inheritance as boomer parents pass on. Biggest generational wealth transfer in history.

[NORTY FLATZ]

Originally Posted by NYSD1995

Mostly inheritance as boomer parents pass on. Biggest generational wealth transfer in history.

Hey, I'M a "Boomer!"

Looks like my kid is going to do ok then. (Anything over $11.7 million gets taxed.) She won't have to pay any add'l the way it's written up in my living trust...

But, I gotta die first!

DOH!

[1AngryTaxPayer]

Originally Posted by NORTY FLATZ

Hey, I'M a "Boomer!"

Looks like my kid is going to do ok then. (Anything over $11.7 million gets taxed.) She won't have to pay any add'l the way it's written up in my living trust...

But, I gotta die first!

DOH!

Ya, same here. My kids gonna make out like bandits. Farm and Ranch in Colorado will go to them. They didn't have kids. My sisters house up the hill from me in Bay Park 3 million plus their assets. No kids. My kids are gonna be set. I hope it doesn't go to their heads.

Oh forgot about my Mom's place too. Sheesh. Probably 8-10 million total between all of us.

[NYSD1995]

Originally Posted by 1AngryTaxPayer

Ya, same here. My kids gonna make out like bandits. Farm and Ranch in Colorado will go to them. They didn't have kids. My sisters house up the hill from me in Bay Park 3 million plus their assets. No kids. My kids are gonna be set. I hope it doesn't go to their heads.

Oh forgot about my Mom's place too. Sheesh. Probably 8-10 million total between all of us.

My parents own 3 homes free and clear and are basically funding my sibling's upper-middle class 1950's leave-it-to-beaver lifestyle on a 75k salary in suburban NYC.

[1AngryTaxPayer]

Originally Posted by NYSD1995

My parents own 3 homes free and clear and are basically funding my sibling's upper-middle class 1950's leave-it-to-beaver lifestyle on a 75k salary in suburban NYC.

That's the way it should be. Cept I wouldn't be in NYC.

[NYSD1995]

Originally Posted by 1AngryTaxPayer

That's the way it should be. Cept I wouldn't be in NYC.

Originally Posted by dscelco

must be tough sitting on 8-10 M bucks..wow. then there are plenty of folks such as myself who stand to inherit, if anything, possibly 10 grand. nope, my parents didnt own squat..poor me and sis.

I wont inherit a dime, my brother will bleed them dry. Thankfully I can afford to live in SD, but if I couldn't, I would move. I don't plan to support my grown children at all.

[1AngryTaxPayer]

Originally Posted by dscelco

must be tough sitting on 8-10 M bucks..wow. then there are plenty of folks such as myself who stand to inherit, if anything, possibly 10 grand. nope, my parents didnt own squat..poor me and sis.

What's keeping you from working?

[1AngryTaxPayer]

Originally Posted by dscelco

I work angry. the point is regarding inheritance..meaning...being given monies and properties which one did not contribute to financially...meaning kids get free stuff from their parents and grandparents when said folks pass away. ....Or as I almost always say " when the elderly well off "transition"".

Not healthy to be bitter about it. People also win the lottery. Just do you. You could have been born in Cambodia and be eating grasshoppers and have ringworm for a daily routine.

[SDSurfer3]

Glad I bought 5 years ago. House has gone up 500k! If I didn't change jobs this year my income would have only gone up 15k after those 5 years.