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The California housing crisis

Falkman
Posts: 16
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12/17/2017 10:24:51 PM
Posted: 1 month ago
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!
sadolite
Posts: 9,749
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12/18/2017 12:57:24 AM
Posted: 1 month ago
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.
Nd2400
Posts: 1,458
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12/18/2017 1:21:51 AM
Posted: 1 month ago
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?
FanboyMctroll
Posts: 4,148
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12/18/2017 2:09:28 PM
Posted: 1 month ago
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

I would love to live in sunny California, hell I would love to live in any warm state, I'm tired of the 6 month of winter in northern New York State!!!
Nd2400
Posts: 1,458
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12/18/2017 3:58:58 PM
Posted: 1 month ago
At 12/18/2017 2:09:28 PM, FanboyMctroll wrote:
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

I would love to live in sunny California, hell I would love to live in any warm state, I'm tired of the 6 month of winter in northern New York State!!!

Yea sunny California is great. But it depend what part too. I mean you could be living in Palms Springs' and the summer would be 108 on average or even reach to 118 or 120. Or you could be living in San Francisco which is nice, just more rain. Or living in Huntington beach which is nice all year round average temps. Are 60's in the winter to like 79 in the summer. Or you could live up in the mountains which could get snow in the winter and but the summer is nice. So, yeah it just depend where.

New York would be nice too, but just to visit. At least or me. I hate the cold.
FanboyMctroll
Posts: 4,148
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12/18/2017 6:35:29 PM
Posted: 1 month ago
At 12/18/2017 3:58:58 PM, Nd2400 wrote:
At 12/18/2017 2:09:28 PM, FanboyMctroll wrote:
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

I would love to live in sunny California, hell I would love to live in any warm state, I'm tired of the 6 month of winter in northern New York State!!!

Yea sunny California is great. But it depend what part too. I mean you could be living in Palms Springs' and the summer would be 108 on average or even reach to 118 or 120. Or you could be living in San Francisco which is nice, just more rain. Or living in Huntington beach which is nice all year round average temps. Are 60's in the winter to like 79 in the summer. Or you could live up in the mountains which could get snow in the winter and but the summer is nice. So, yeah it just depend where.

New York would be nice too, but just to visit. At least or me. I hate the cold.

Well I would like to live in Beverly Hills, running into all the celebrities, shopping at Rodeo Drive, or I would like to live in the California wine region, beautiful country out there.
sadolite
Posts: 9,749
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12/18/2017 9:21:31 PM
Posted: 1 month ago
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

Yes several times. I used to live in Arizona.
Nd2400
Posts: 1,458
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12/18/2017 9:25:27 PM
Posted: 1 month ago
At 12/18/2017 6:35:29 PM, FanboyMctroll wrote:
At 12/18/2017 3:58:58 PM, Nd2400 wrote:
At 12/18/2017 2:09:28 PM, FanboyMctroll wrote:
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

I would love to live in sunny California, hell I would love to live in any warm state, I'm tired of the 6 month of winter in northern New York State!!!

Yea sunny California is great. But it depend what part too. I mean you could be living in Palms Springs' and the summer would be 108 on average or even reach to 118 or 120. Or you could be living in San Francisco which is nice, just more rain. Or living in Huntington beach which is nice all year round average temps. Are 60's in the winter to like 79 in the summer. Or you could live up in the mountains which could get snow in the winter and but the summer is nice. So, yeah it just depend where.

New York would be nice too, but just to visit. At least or me. I hate the cold.

Well I would like to live in Beverly Hills, running into all the celebrities, shopping at Rodeo Drive, or I would like to live in the California wine region, beautiful country out there.

If you wanna live in Beverly Hills you better have at least 10m to spend on housing.... Plus running into your favorite celebrity, might not be what you looking for. Meaning they might not what you though they were.

I will agree living in wine country would be great. The only negative is no big city would be around.
Nd2400
Posts: 1,458
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12/18/2017 9:27:18 PM
Posted: 1 month ago
At 12/18/2017 9:21:31 PM, sadolite wrote:
At 12/18/2017 1:21:51 AM, Nd2400 wrote:
At 12/18/2017 12:57:24 AM, sadolite wrote:
At 12/17/2017 10:24:51 PM, Falkman wrote:
I heard an amazing story a couple of days ago on CBS news that 70% of the people in California can't afford to buy a starter home. Also, more new homes are being built in Dallas and Houston than in many areas of California.

It takes first time buyers out there a minimum of $120,000 annual income to even qualify for a loan. Median home prices in the state are $489,000, about $650,000 in the Bay area. Rents are also through the roof.

I see trouble ahead, especially if Trump's tax bill with a cap on property tax deductions passes. If that happens, I predict that many Californians will pull up stakes and move to lower tax areas eventually causing a crash in home values as more and more sellers offer homes at unaffordable prices.

Gentrification is the problem here in Austin. More and more lower income folks are being pushed out of their homes in east and northeast Austin as the neighborhood gets "discovered" and rebuilt, leading to sky-high property taxes that they can't afford.
It happened in our neighborhood 25 years ago. When we moved here from Houston in 1992, I paid $80,000 cash for a 3 bedroom 1900 sq.ft. split-level home. Over the years we have put maybe $50K into improvements, making our total cost about $130,000.

Houses smaller than ours are now selling quickly for $325,000 plus. We like the area and property taxes aren't a problem because they were capped once we turned 65.

So, if you live in California and want to cash out of your home and move somewhere that has a lower cost of living, NOW would be the time!

Don't move here, though. We have too many Californians already (LOL)!

I can't even fathom why anyone would purposely move to California. It's a totally lawless insane bankrupt socialist quagmire. That state has no rule of law. The law is whatever insane Governor or Senator says it is. The Constitution is as though it doesn't even exist in that state.

Wrong we do have laws. It not like Florida. Because in Florida you could get away with murder. But Anyways California has everything. Just wondering have you ever visited California?

Yes several times. I used to live in Arizona.

Okay, so who so much hate toward California?
NattyC
Posts: 7
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1/9/2018 10:04:42 AM
Posted: 2 weeks ago
My other half is a native Californian. We'll be breaking land and building out there, hopefully in the next couple of years.

Those wildfires have been causing me some pause, admittedly. She keeps saying nothing to worry about , though. I'm not sure if I like the idea of the risk of watching my retirement fund burning to the ground.
FanboyMctroll
Posts: 4,148
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1/9/2018 1:37:20 PM
Posted: 2 weeks ago
At 1/9/2018 10:04:42 AM, NattyC wrote:
My other half is a native Californian. We'll be breaking land and building out there, hopefully in the next couple of years.

Those wildfires have been causing me some pause, admittedly. She keeps saying nothing to worry about , though. I'm not sure if I like the idea of the risk of watching my retirement fund burning to the ground.

You have house insurance,