Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

hunter

(38,481 posts)
17. Housing prices in California are inflated by those who see it as a safe investment.
Thu Aug 5, 2021, 03:32 PM
Aug 2021

For all the California hate you see people do want to live here, corporations want to locate here, and investors notice that.

Some wealthy family in China would much rather buy a California apartment building for an outrageous amount of money than some similar building in backwater China or Trumpfuckery U.S.A. at a tenth of the price.

Rents here in California reflect this.

Housing costs are high in places like Vancouver Canada as well because people want to live there and investors want to own property there.

"Cosmopolitan" neighborhoods, as opposed to those where everyone is straight white and Republican, sell for premium prices.

The first home my wife and I bought cost $8,000 in the U.S.A. "rust belt." We looked at a lot of one dollar homes in the same city but those neighborhoods were too scary. Confederate flags, guns, and/or shooting galleries.

My wife and I later moved back to solidly Democratic non-white majority California. Now many years later find ourselves living in an ordinary home, the sort of home they'd scoff at in Affluent White Texas, that's worth more than all the money we ever set aside for retirement.

We could cash out, retire, and buy a MacMansion in Trumpfuckery U.S.A., but we won't do that and we don't have to.


Latest Discussions»General Discussion»Do you support raising ta...»Reply #17