[SmithL]

Welcome to California. Let the taxpayers pay for it. Of course, home prices will fall once they've chased all the businesses out of the area.

[ReagansShinyHair]

ping

[stopem]

I've said it before I will say it again, home prices are hyper-inflated partially because of the cost of land and partially because of GREED.

And businesses wont come if their work force cant afford housing, so maybe arnie needs to look at that aspect.

[LS]

This is another example of how the "blue states," with their high-taxes and ultra-rich elites, are simply pricing themselves out of the market for "average people" who fight their fires, teach in the public schools, police their streets, work at their supermarkets, and so on.

Perhaps more important, an aging population is a population that loses political clout. As the rich, old Californians die off---with no young families to replenish the population---we may actually see the electoral numbers reverse in the near future, with CA losing EVs to, say, NV, AZ, and so on.

[stylin_geek]

Things won't change until people get tired of the enviro-socialist utopia the left wing liberals are trying to foist off on CA. The other thing that has to happen is that a Nancy Pelosi or a Maxine Waters cannot even get elected as dog catcher in California.

[SpottedBeaver]

This is very true. I was born and raised in the Santa Clara Valley and moved away when I was in my early 20s. I couldn't afford to stay. This wasn't very recently either. I left in 1990 and followed a few jobs around and have now firmly planted my roots in Texas. There are actually quite a few ex-Californians here in North Texas.

[A Ruckus of Dogs]

Same problem here in Long Island, NY. What's driving up the housiing costs here is high demand.

[martin_fierro]

Actual Listing:

Sunnyvale, CA 94087

Single Family Property, County: Santa Clara, Age: 50 year(s) old, Detached, Ranch, Single story, Garage, Fireplace(s)

2 Bed, 1 Bath
875 Sq. Ft.
$569,000

[megatherium]

So they've all moved to Seattle and Portland, transplanting huge amounts of high-technology business up there. Housing prices in Portland more than doubled through the 1990s as a result. People in Oregon have been heard to complain about the "Californication" of their state.

[anniegetyourgun]

Bought first house in SoCal, in 1980, no less. I was very young. Couldn't afford it due to interest rates (thanks to Carter's mess), etc. However, some things are worth the sacrifice. For me, land is always in that category. Call me a physiocrat.....

[Prime Choice]

Californians fear high prices may drive young people away

It ain't just the high real estate prices. It's also the ridiculously high taxes, equally ridiculous anti-business regulations, closure of medical centers across the state (due to money loss thanks entirely to illegals), and Leftist social policies that do nothing but reward laziness and penalize productivity.

And don't get me started on California's anti-Second Amendment laws. Those are just insane.

California deserves the hell-hole it's dug for itself.

[IllumiNaughtyByNature]

Prices are going to stay high here because the demand allways outpaces the supply. With the upcomming Babyboom retirement the demand for apartments, condos and townhomes is going to take off, because the retirees will face off with the first time home buyers. That is why the focus is on the multiplex building. Here in So Cal any fixeruppper is being leveled and a duplex/4-plex is going up.

Also the weather paterns in FL and the Eastern seaboard are making the retirees look harder at CA and AZ.
Also, they are already starting to lay the new foundation for an entire new city NE of Palm Springs. Should be done and ready for the retirees in about 13-15 years.

[Izzy Dunne]

Researchers at the nonpartisan think tank say an exodus of young workers could undermine state's economy

Gee, that's a profound concept. Maybe next year's research could include WHY they're moving away.

If you figure out WHY they move away, maybe you could DO SOMETHING to slow it down.

It's not that hard, people.

[Monti Cello]

This piece makes a nice counterpoint to the latest liberal diatribe:

It's the Cities, Stupid

Blue areas will continue to attract and harbor the shrinking extremes -- the professional wealthy cultural leftists and their dependents.

As high real estate prices and anti-business, intrusive, high tax policies prevail in blue areas, they run off the family-oriented professionals who aren't there for the arts and croissants to more affordable, pro-business red areas.

I have two close friends who are starting families and are in the process of fleeing SF and Seattle respectively for cheaper regions.

[ironwill]

I lived in Kalifornia all my life until I turned 30. No way in hell could I afford a home there. I got tired of paying rent for a one bedroom apartment when I could be paying for a house for the same price in another state. Had a baby on the way and decided Kalifornia was not where I wanted to raise a family. Ended up moving to Colorado, buying a nice 3 bedroom home with a finished basement (2 additional bedrooms down there) and large backyard for $200K flat. I'll never go back to Kalifornia. Screw 'em!

[The Loan Arranger]

Pack up your SUV, rent a U-Haul and move here. A nice brand new starter home runs about $80,000. Existing homes can cost even less. A nice 3/2 in the 1800 sq ft range in a nice community will be about $120K. A well-appointed luxury home in a gated or country club type subdivision might run you in the low-to-mid 200's (and we're the expensive part of the state-LOL). BTW, there are lots of jobs here. http://www.millenniummortgagemississippi.lenderhost.com

[KC_for_Freedom]

This same thing happened in the SF Bay area in the '70's. Thats when I lost my teaching job due to declining enrollment. (Young adults moved away, could not buy in where the family house was.)

This persisted for a few years then two things happened to bail out the schools. (1) some parents began using the equity in their homes to help their kids make purchases. I still don't know how they made the payments but this was very successful. and (2) Mexican immigration brought in kids for the schools living many to a bedroom in the lower cost areas.

[Awestruck]

we were blessed enough to get in the housing thing fairly cheaply...but the thing chasing us out of the state isn't the prices but the political environment! There is currently a scheme in the works to get rid of the gas tax but charge drivers by the mile via an electronic device for our cars! my husband says if this passes and Rinold signs, we're outta here.

[scripter]

Checkout some of the homes here.

[Age of Reason]

When the average American can only afford to own property barely bigger than an SUV, I would not call that prosperity, no matter how many SUV's or electronic gizmos one may own.

[Publius6961]

This has been a problem in the San Francisco Bay area since the 60s. Nothing new here whatsoever. My first proposed purchase fell through two days before it was to be "final".
When I finally was able to buy one there was a protracted mini-depression and the glut of new homes made it possible to jump in successfully. My second home did not enter the picture for another 37 years...