Unfortunately, CA Exodus is a myth :(

Sharky

Phil Edwards status
Feb 25, 2006
6,828
9,059
113
It’s no wonder younger Californians are leaving. I see what I used to consider entry level housing hitting 800 grand. Tech whiz kids who can now work from home are fleeing LA and 800 grand looks cheap. A lot of the kids that grew up here can no longer afford here. Of course people hitting retirement are selling into the bubble and taking their money and running to less expensive states. Most 60 year olds could use a million bucks moving into the “golden years.”

But the homeless population in the state is definitely on the rise. Up over 16% since 2007. Up 7% last year alone. Not good. It’s not sustainable IMHO. When shitty 50 year old tract houses 7 miles off the coast are going for close to a million, who lives here anymore? Millionaires (“ “) and homeless people? It’s not sustainable. People with ordinary jobs can’t afford to live here anymore. I know of a number of business that can’t get anyone to work. Tough to get people to work when six figures isn’t a living wage. Bubble gonna pop sometime. Meanwhile prices on just about everything are quietly sneaking up.

 

mundus

Duke status
Feb 26, 2018
36,719
15,937
113
People are supposedly fleeing Nj as well, yet the traffic keeps getting worse and everything is unbelievably crowded.
 

enframed

Tom Curren status
Apr 11, 2006
11,639
6,431
113
Del Boca Vista, Phase III
See I don't get the traffic either. Restaurants and hotels are short-staffed, Hollywood isn't filming that much location-wise, most people who WFH the last year are still WFH. Where the fuck is everyone going? Porto and Malibu, apparently.
 
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VonMeister

Duke status
Apr 26, 2013
20,251
6,976
113
JOE BIDENS RAPE FINGER
It’s no wonder younger Californians are leaving. I see what I used to consider entry level housing hitting 800 grand. Tech whiz kids who can now work from home are fleeing LA and 800 grand looks cheap. A lot of the kids that grew up here can no longer afford here. Of course people hitting retirement are selling into the bubble and taking their money and running to less expensive states. Most 60 year olds could use a million bucks moving into the “golden years.”

But the homeless population in the state is definitely on the rise. Up over 16% since 2007. Up 7% last year alone. Not good. It’s not sustainable IMHO. When shitty 50 year old tract houses 7 miles off the coast are going for close to a million, who lives here anymore? Millionaires (“ “) and homeless people? It’s not sustainable. People with ordinary jobs can’t afford to live here anymore. I know of a number of business that can’t get anyone to work. Tough to get people to work when six figures isn’t a living wage. Bubble gonna pop sometime. Meanwhile prices on just about everything are quietly sneaking up.

Fecal disagrees.
 
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Autoprax

Duke status
Jan 24, 2011
68,226
22,978
113
62
Vagina Point
The kids of the mom that owns the house where I rent an apt want to raise my rent.

But the mom loves me. She told the kids to F off. Auto is a nice man.

It's weird.

I've had people who don't know me instantly hate me.

And I've had people who don't know me instantly love me.

Is that a normal thing?

I think the good looking charming person is loved by everyone?
 

Autoprax

Duke status
Jan 24, 2011
68,226
22,978
113
62
Vagina Point
It’s no wonder younger Californians are leaving. I see what I used to consider entry level housing hitting 800 grand. Tech whiz kids who can now work from home are fleeing LA and 800 grand looks cheap. A lot of the kids that grew up here can no longer afford here. Of course people hitting retirement are selling into the bubble and taking their money and running to less expensive states. Most 60 year olds could use a million bucks moving into the “golden years.”

But the homeless population in the state is definitely on the rise. Up over 16% since 2007. Up 7% last year alone. Not good. It’s not sustainable IMHO. When shitty 50 year old tract houses 7 miles off the coast are going for close to a million, who lives here anymore? Millionaires (“ “) and homeless people? It’s not sustainable. People with ordinary jobs can’t afford to live here anymore. I know of a number of business that can’t get anyone to work. Tough to get people to work when six figures isn’t a living wage. Bubble gonna pop sometime. Meanwhile prices on just about everything are quietly sneaking up.

What are the property taxes on an 800 grand house?
 

hammies

Duke status
Apr 8, 2006
15,587
14,214
113
If you buy an $800K house, property taxes are prob just over $8K/year. But if you own an $800K house that you bought 20 years ago for $100K, your taxes are prob in the $1200 - $1500/year range.
 

grapedrink

Duke status
May 21, 2011
25,927
14,713
113
A Beach
Yeah, that is my point. You buy a house for that much now and get killed on taxes.
Yet there is a large contingent in California who wants to make them even higher, and guess which way they tend to vote :unsure: :roflmao:

I would agree with reforming prop 13 so that taxes grandfathered in at absurdly low rates have a more gradual increase. I also think that we should especially get rid of the estate transfer loophole. I agree with the intent behind prop 13 to prevent aggressively raising taxes on retiree homeowners, but the kids who did nothing but inherit the property can afford to pay.
 

One-Off

Tom Curren status
Jul 28, 2005
14,120
10,240
113
33.8N - 118.4W
It’s no wonder younger Californians are leaving. I see what I used to consider entry level housing hitting 800 grand. Tech whiz kids who can now work from home are fleeing LA and 800 grand looks cheap.
And yet people are in bidding wars to get that 800 grand house. If it's so bad here why are folks sacraficing to stay (or come) here?

I know why the homeless population here is growing and it ain't about policy. It's the weather stupid.

venice.JPG
 

Sharky

Phil Edwards status
Feb 25, 2006
6,828
9,059
113
It's the weather stupid.
The weather is pretty much the same as it ever was. (Drought and long term global warming problems aside).

So considering that, it’s obviously more than the weather.
 

grapedrink

Duke status
May 21, 2011
25,927
14,713
113
A Beach
And yet people are in bidding wars to get that 800 grand house. If it's so bad here why are folks sacraficing to stay (or come) here?

I know why the homeless population here is growing and it ain't about policy. It's the weather stupid.

View attachment 112711
Homeless populations are increasing in cities all over the US, so there are obviously more factors.

If it were an economic issue, then we should have less homeless now than 10-12 years ago when the economy was really in the crapper.
 

kidfury

Duke status
Oct 14, 2017
24,647
10,479
113
Increasing gap between rich and poor. Why not use homelessness as a gauge of economic welfare?
 

grapedrink

Duke status
May 21, 2011
25,927
14,713
113
A Beach
Increasing gap between rich and poor. Why not use homelessness as a gauge of economic welfare?
Because the economy and employment rate has gotten far better since 2008. If homelessness were linked to economics, then we should have less homelessness now than we did before. There are help wanted signs all over the place, and employers are probably willing to pay above minimum wage.

There are plenty of welfare and rent assistance programs to help people who fall on hard times. Those who do fall between the cracks are the easiest for social workers to help because they are mentally fit enough to accept a helping hand and want to get off the streets.

In terms of wealth inequality, most of that is from the top 20% doing increasingly better, and especially tech moguls like Bezos and Musk because we voluntarily give them our money in exchange for the products/services they provide. Printing money also contributes to that, because it will eventually find a home, often in the form of investments and consumer spending which also helps the upper 20% far more than the bottom 80.
 

kidfury

Duke status
Oct 14, 2017
24,647
10,479
113
An economy with a lot of poor people is not a good economy for the poor people.
 

CutnSnip

Phil Edwards status
Sep 11, 2018
5,736
6,043
113
Probably dropping in on you, California
And yet people are in bidding wars to get that 800 grand house. If it's so bad here why are folks sacraficing to stay (or come) here?

I know why the homeless population here is growing and it ain't about policy. It's the weather stupid.

View attachment 112711
i wish i could find an 800k house in the hood i want to buy in. more like an 800k 2 bedroom apartment in a shitty building. Just got pre approved - looks like ill be buying down in Long Beach and commuting if I ever go back to an office.