Posted on 11/18/2004 7:52:21 AM PST by SmithL
I see that you've essentially lived all over the US. Tell me, how do wages in other states compare to California? I'd love to get out of here since I'll never be able to own a home with the housing market the way it is, but I'm also worried that I'll be in the same boat in another State if my salary drops by a huge amount.
You bet are. I've been to cold and ice, brutal humidity etc, never again.
I've talked to people that come from all over the country that come in their motorhomes to attend the Rose Parade in Late December and January. They come from nasty fridged weather, and all of them are completely blown away at 72 degree weather, everything being so green, the blooming flowers, and Orange trees loaded with fruit, people walking around in short sleeves etc.
Spoiled we are, I admit it.
Life is just to short for nasty weather.
Please define GREED. As far as I know, the marketplace determines the selling price. If I can get a better price for my home, I am going to take that price. Why should I take less?
I guess it depends what you do. I made a career switch coming to Cali, so my experience elsewhere is not quite comparable. But I doubt your salary would drop more than the housing prices.
I've used a few of those Cost of Living Adjustment to see what I'd need to make someplace else if I moved. I don't know how accurate they necessarily are, but they seem about right based on the places I've lived. Of course there is always the intangibles you have to consider--esp if you have a lot of family here in Cali (I don't, so that is not much of a consideration for me).
http://www.homefair.com/homefair/calc/salcalc.html
One thing though--these calculators don't take into account taxes, so I think they are a little inflated if you move from CA to someplace without an income tax.
During the mid-1980s, I felt that there was no way real estate prices could continue going higher, but they did. Now, twenty years later, I'm inclined to think the same thing once again, but if history is any indication, there might still be another five to six year run before CA sees a reversal, and even then prices will probably only fall back to where they were in the late 1990s -- which were still higher than just about everywhere else in the nation outside NYC.
The feds help them get into homes. The sheer numbers, and the lack of housing force the prices up. The immigrants move numbers of relatives into one home. Example. Recent armenian homeowners, (received $10k from our federal government). During the 1980's, they arrived here, Glendale Ca. Given $$$'s little or no interest of our tax$$$. Join 3 generations of families and not only buy land, but build $1 million dollar home on such land. None of this is with their own money. They open their own business with same $$$ all at taxpayers expense. We are funding the very same.
People that live in neighborhoods of $650,000 homes and *up*, would not put up with 15 or more illegal aliens moving into a single family home in their neighborhood. Trust me. That would last about 1 minute. I live in a pretty nice area, and there are no homes filled with a dozen illegal aliens. LOL! Some of the lazy greedy neighbors hire them to do their landscaping, but that's the only time you'll see them in high end neighborhoods.
The illegals gravitate towards low end apartments. We don't have any of those in our area either. I consider them a blight to begin with. Now there are some condos a few miles away, and they start at 400k, I know someone that lives there, and there are no illegals living there either.
As a matter of fact, I know someone that owns a 20 unit apartment building. His plans are to mow it down, and put in 12 high end condos. The illegals squatting there, will be moving on, trust me.
Tall financial fences make good neighbors.
In any event, I've got to go fill my propane tank up for the BBQ this afternoon. Cheers!
I live in a upscale neighborhood. However less than 2 blocks away toward the main thoroughfare, there is a two block section of older duplexes. In this area (and it is an oddity, but it has been there since the 40's) is loaded with low income hispanics and other groups of people. The neighbors gardener lives there in a one bedroom unit with 9 children. He has another family in Mexico with another 9 children. (he's been busy).
I have a distant friend that is married to a Columbian national. He and his mother own the house they live in. They have 3 children. He has another family, wife and children in Columbia. He runs an "emerald" business with his father that demands a lot of traveling. His father has already been arrested for Cocaine traficking.
These people are not citizens of this country. However his wife and children are. They live in a home valued over $500k. Two examples listed, have fun. Gotta go live life.
Tennessee!
Most expensive real estate in Florida is in Miami-Dade, Broward and Palm Beach Counties. You either have really expensive neighborhooods or really crappy neighborhoods, nothing in between.
I don't have any idea what your talking about. However, if you find any illegals in your area buying $650,000 homes, find out where they're working, and see if they need any help.
Thanks!
I agree and the defaults are starting. The industry is very precarious. I watch my neighborhood, Irvine, CA which is one of the most sought after cities in the country (because it is the oldest planned community in the country) And it is no longer completely a sellers market. Homes and town -homes are staying on the market for months.
When I sold my last condo, about 8 months ago (to move 2 doors down) I had 40 people walk-through the first day without any advertising except a yard sign and 30 more the next day. Those days are long gone.
I just want everything to wait for me, LOL! I am starting a business, finishing up my MBA and getting a real estate license. I want to be there (with working capital) when people start walking away from the townhomes/condos/apartments.
You probably wouldn't want to move there now. But in the mid to late 90s, the economy was red hot there. Portland (and Oregon) made a concerted and successful effort to build a high tech economy (traditionally, they relied on agriculture, logging and tourism). Great idea until the tech bubble burst.
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