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California has a statewide housing crisis. Most cities in the country also have their own housing crises.

throwaway0a5e 6y ago
>Most cities in the country also have their own housing crises. No they don't. The ones that do are the ones who's housing market is all jacked up by California money that wants off the sinking ship.
- shuckles 6y ago
  "If you ignore all the cities people want to live in, the remaining don't have a housing crisis."
  - throwaway0a5e 6y ago
    There's half a dozen or so big east coast cities that are expensive. Nevertheless you can find $200-400k houses 1-1.5hr out (half that if you're willing to sacrifice having a big yard) and rents are blue collar levels of affordable despite those cities being some of the most expensive (basically second to CA). The "housing crisis" is unique to California and markets that are jacked up by California money that wants off the sinking ship. I know a lot of those people want to believe that everyone is doing it just as wrong as they are but if you fire up zillow and start looking at the suburbs of Cleveland, Buffalo, Montgomery, and all the other places that wealthy people leaving places like CA like to deride as dead or dying it becomes immediately apparent that they're affordable. Edit: I was a moron to even reply to you. Based on everything else you've said on this topic we will not see eye to eye and nothing productive will come of this.
    - shuckles 6y ago
      Having people drive til they qualify is a sign you have a housing crisis. Give me the name of some cities where home prices have tracked inflation in the last decade. Even better, tell me how Cleveland's suburbs have a land use regime that's any better than California?
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      - sokoloff 6y ago
        Why would you expect home prices to track inflation in an environment where mortgage rates went from 4.76% to 2.74%? I'd expect home prices to be bid up by an incremental amount over inflation in such an environment, as the monthly principal and interest payment for $100K borrowed at 4.76% is the same as for $128K borrowed at 2.74%. That's an additional 2.5% of house price inflation per year. [0] - http://www.freddiemac.com/pmms/pmms30.html http://www.freddiemac.com/pmms/pmms30.html
        shuckles 6y ago
        Fair enough. For the reason you pointed out, prices of ownership are not the right metric. Replace "home prices" with "rent index" and my point still stands.
- asdff 6y ago
  The Midwesterner shouldn't fear the Californian. That's a boogyman. The Midwesterner however, should have a real fear of their fellow wealthy Midwesterners, who will go from one house to 2.5 on average after their children come of age and outbid the middle class midwesterner for the limited housing stock available in predominantly single family home cities.
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  - throwaway0a5e 6y ago
    I specifically said "california money" on purpose.

>Most cities in the country also have their own housing crises. No they don't. The ones that do are the ones who's housing market is all jacked up by California money that wants off the sinking ship.

shuckles 6y ago
"If you ignore all the cities people want to live in, the remaining don't have a housing crisis."
- throwaway0a5e 6y ago
  There's half a dozen or so big east coast cities that are expensive. Nevertheless you can find $200-400k houses 1-1.5hr out (half that if you're willing to sacrifice having a big yard) and rents are blue collar levels of affordable despite those cities being some of the most expensive (basically second to CA). The "housing crisis" is unique to California and markets that are jacked up by California money that wants off the sinking ship. I know a lot of those people want to believe that everyone is doing it just as wrong as they are but if you fire up zillow and start looking at the suburbs of Cleveland, Buffalo, Montgomery, and all the other places that wealthy people leaving places like CA like to deride as dead or dying it becomes immediately apparent that they're affordable. Edit: I was a moron to even reply to you. Based on everything else you've said on this topic we will not see eye to eye and nothing productive will come of this.
  - shuckles 6y ago
    Having people drive til they qualify is a sign you have a housing crisis. Give me the name of some cities where home prices have tracked inflation in the last decade. Even better, tell me how Cleveland's suburbs have a land use regime that's any better than California?
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      [deleted]
    - sokoloff 6y ago
      Why would you expect home prices to track inflation in an environment where mortgage rates went from 4.76% to 2.74%? I'd expect home prices to be bid up by an incremental amount over inflation in such an environment, as the monthly principal and interest payment for $100K borrowed at 4.76% is the same as for $128K borrowed at 2.74%. That's an additional 2.5% of house price inflation per year. [0] - http://www.freddiemac.com/pmms/pmms30.html http://www.freddiemac.com/pmms/pmms30.html
      - shuckles 6y ago
        Fair enough. For the reason you pointed out, prices of ownership are not the right metric. Replace "home prices" with "rent index" and my point still stands.
asdff 6y ago
The Midwesterner shouldn't fear the Californian. That's a boogyman. The Midwesterner however, should have a real fear of their fellow wealthy Midwesterners, who will go from one house to 2.5 on average after their children come of age and outbid the middle class midwesterner for the limited housing stock available in predominantly single family home cities.
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- throwaway0a5e 6y ago
  I specifically said "california money" on purpose.