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These people who sold their Bay Area homes and moved somewhere else to pay cash for a house seem to gloss over the fact that they were able to do this because t
by iamjdg 10y ago
These people who sold their Bay Area homes and moved somewhere else to pay cash for a house seem to gloss over the fact that they were able to do this because they struggled in the Bay Area for so many years and became real estate wealthy. They won't see this kind of real estate wealth growth in their new communities.
- sliverstorm 10y agoThat's kind of the point, you can get more for less struggle elsewhere. They are giving up the wealth growth.
- rconti 10y agoRight, but it glosses over the fact that they were not able to afford their lifestyle 'organically' in their new place. It only seems awesome because they're going in with huge wads of California cash.
- sliverstorm 10y agoOnly if you are focusing on "wow they bought a lavish mansion with fifty acres and a stable". If they move to Ohio and buy a house- guess what, property ownership is very normal and attainable in Ohio by relatively ordinary people. Mega California bucks aren't necessary.
- ringwalt 10y agoHuh? There is a lot more room for growth in small cities with functional tech industries, and these people can now afford to speculate on multiple properties for the price of their small Bay Area house.
- pyre 10y ago> They won't see this kind of real estate wealth growth in their new communities. The question is do they expect to?