Posted on 06/27/2004 1:44:50 AM PDT by conservative in nyc
Catching a Wave Out of Pricey California - Migration of young professional families may be creating a 'smart belt' in the Sun Belt.
By Stephanie Simon and Lianne Hart, Times Staff Writers
AUSTIN, Texas — Soaring property values in California have made many homeowners there rich — and many real estate agents here delighted. In an exodus that some demographers say could reshape the American landscape, young professional families are increasingly fleeing the exorbitant coast for Austin, Dallas or San Antonio, for Atlanta, Denver or Phoenix, for Charlotte, N.C.
They're selling their cramped "starter homes" in California, some worth $500,000 or more, and buying luxury homes, for cash, in the nation's interior.
--SNIP--
Some analysts see potential political fallout from the widening gulf in home values.
Led by California, New York and New England, the states that Democrat Al Gore won in 2000 enjoyed a 49% increase in home values in the last four years. The states that Republican George W. Bush won have seen an appreciation rate of 28%, according to a recent study in the National Journal.
The anxiety that homeowners in soft-market states feel — especially if they're unable to move for another job — could affect their assessment of Bush's performance.
"It's just one more thing to add to the general angst about the economy in those parts of the country," Zandi said. "It weighs on the prospects for the president's reelection."
(Excerpt) Read more at latimes.com ...
Of course, the L.A. Slimes had to take a cheap pot-shot at President Bush in an article about people leaving the Blue States for the Red States. Typical.
Liberals bringing their views with them. Professionals who tend to vote Democratic move to Red States to turn them into Blue ones.
With God as my witness, there aren't enough Kalifornians to ever make Texas liberal. We only let Austin go left to attract more musicians and to provide a test population of liberals for research.
Liberals in excess of the required amount will be reformed or relocated.
As the Boomer retire more and more will move back into the interior.
I think the Times is missing the point that there is much more land in "flyover country" to build new housing.
...might be more than slightly..they bled all over New England. You can sense their migration into campaigns to raise taxes and put in jogging paths. Sante Fe has been completely taken over by the faux artsy fartsy crowd to the detriment of the indigineous and certain ice cream in Phoenix tracks the Califiornia price.
Can't you just see some pipe smoking yuppie, who has a compost turner in his back yard trying to tell us he's saving the environmment and we ought to be doing the same?
One of the first thing they go after is control of local government in order to change the zoning ordinances.
Despite what Texans say about it, Austin has been ruined by dreamy eyed liberals and lagging infra-structure accomodations.
Typical is right.
What I find interesting is that there is no mention of "that giant sucking sound" everyone is hearing.
Perhaps Soros and Ms Heinz will supply the money to purchase those, $500,000 per, hovels for those that remain.
Those million dollar homes in California are worthless if no one will buy them, of course. And in a bidding environemnt, the price will go up, at the same time the available land for new construction goes down. Eventually you will replicate the conditions of some South American countries where there is almost no middle class to speak of. Welcome to hell.
As a pre-boomer who retired from CA and headed for AL, I have to agree with this article. It makes no sense to retire in a place that is expensive, particularly when the high cost is related to the existence of high paying jobs. I looked at my home equity (and the fed tax exclusion) as a part of my retirement nest egg. In Alabama you have a hard time finding a meal that you have to pay more than $8 for, in California you have an equally hard time finding a meal for less then $12. (With many at $20 to $30).
In addition, the politics of the people in the Deep South are so much more likeable than the politics of our neighbors in San Mateo.
Good riddance. Makes more room for illegal aliens and all the benefits they bring to our society. A few million more low-skilled, uneducated, government-service-depending serfs and we'll be in clover here in the golden state, and we'll do it without yuppie scum. We SPIT on your professional jobs!
I'm sure that you'll find that housing prices in liberal states have appreciated quickly due to all the anti-sprawl laws that have been passed. This of course lowers supply, and thus prices go up. Portland, Oregon is probably the biggest example of this. But it's prevelant elsewhere as well.
People that were living in a cramped house in California that are now living in a sprawling estate in the Atlanta suburbs certainly have moved up on the economic scale, even if they aren't making any more money. They'll also benefit from lower state income taxes. It's not just about how much money you make, but what the purchasing parity is. This holds true for international comparisons as well. When you look at who makes the most money, it's usually the Nordic countries, Switzerland, etc. But when you account for purchasing power -- how much does $1 buy you -- Sweden is lower than Alabama or West Virginia.
Certainly the liberals should know that money isn't everything.
"As a pre-boomer who retired from CA and headed for AL, I have to agree with this article. It makes no sense to retire in a place that is expensive, particularly when the high cost is related to the existence of high paying jobs."
I really wish you wouldn't post this kind of information. I tell all of my out of state acquaintances that Alabama is a terrible place to live. If we really tell the truth about this great state, we'll have too many people moving here.
Heehee. They can't sell 'em after they build their McMansions--too much house.
...it happening here in Lexington, Ky...they're smelling up the place...and it ain't Horsesh!tt. :((
Just look at who we in AZ have for governor, great example of the influx of people from CA.
Amen!
ping
There's a reason "starter homes" in California are selling for more than luxury homes elsewhere...Demand and Location, location, location.
...it happening here in Lexington, Ky...they're smelling up the place...and it ain't Horsesh!tt. :((
They are doing the same thing here in Eastern Nevada. Some loon wrote an anti-gun Letter to Ed and the paper printed my rebuttal.
Wife goes to the local jeweler who, in taking her name, asks if she's related "to the guy that defended gun ownership". She said "yes" and he told her that he agreed with me but couldn't say anything in support "as all my customers are Californians".
We get a lot of retireds here and when someone starts bragging they are from California, I tell them I hope they didn't bring the same ideas that screwed up Kali with them. They act shocked - "I thought EVERYBODY" thought that way!".
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.