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Far more housing than before? No… housing is being built at lower numbers than ever… that’s precisely why property values have increased—when you restrict suppl

Far more housing than before? No… housing is being built at lower numbers than ever… that’s precisely why property values have increased—when you restrict supply and increase demand (via immigration) then the price equilibrium pushes prices up. It’s borderline market manipulation. And there are so many different areas of California… Bay Area and Southern California surely are not representative of Central California or anything north of Marin county. Yes, if you’re rich and insulated in a nice neighborhood where houses cost $2m you’re probably pretty happy. If you’re living in Antioch or some area where sideshows happen and you see homeless people more often than you see cops… I’d bet you feel different.

hot_gril 3y ago
There are more houses in California than before, and the sum of their value has probably far outpaced any other state. There's no shortage of usable land here. And well, don't live in the bad part of Antioch.
- diogenescynic 3y ago
  You’re talking about absolutely values and ignoring that the rate of homes being built has stagnated to record lows (and definitely not keeping up with population growth and immigration). You’re either ignorant or dishonest or both. >And well, don't live in the bad part of Antioch. Might as well tell people not to be poor. Super useful advice, bub.
  - hot_gril 3y ago
    I'm ignoring that because it doesn't matter. Are you saying that our population is simply growing without places for people to stay? Half our population is homeless or something? If the state were doing so poorly, there wouldn't be demand to live here. And if you want to call me ignorant, give me the source on those "record lows" because all I can find is https://fred.stlouisfed.org/series/SMU06000002023610001SA https://fred.stlouisfed.org/series/SMU06000002023610001SA like are you comparing to the 2006 bubble? > Might as well tell people not to be poor. Super useful advice, bub. The suggestion is that if you cannot afford to live in an ok part of a city, you can instead be in a rural area, or better yet not live in California if you dislike it this much. I don't know if you'd find life better in the comparable part of Dallas or Detroit; weather alone might change your mind.
    - diogenescynic 3y ago
      Parts of California are easily worse than Detroit: https://www.tiktok.com/t/ZTLka6qqp/ https://www.tiktok.com/t/ZTLka6qqp/ This is downtown SF after the sun goes down. This is 10x worse than it was 5 years ago. Meanwhile a fentanyl genocide is going on while liberal scumbag voters and politicians pat themselves on the back for giving out needles to them. It’s sick.
- diogenescynic 3y ago
  >I'm ignoring that because it doesn't matter. Are you saying that our population is simply growing without places for people to stay? This conversation is pointless since you don’t understand economics 101 or the law of supply and demand. That’s why you think it “doesn’t matter”… you’re missing the forest through the trees. The prices are going up because there’s a chokehold on supply… when you restrict supply and demand remains the same or increase—prices go up. This isn’t rocket surgery. Just Google the rates of homebuilding in California. It peaked in the 70s and dropped every decade since. Sure, here’s an article: https://www.washingtonexaminer.com/news/2432071/california-home-construction-so-low-it-will-take-34-years-to-meet-current-demand/ https://www.washingtonexaminer.com/news/2432071/california-h... Yes, it’s great to work for a big tech company in California. But I guarantee it’s better to be a teacher or any other normal job in Denmark. Not everyone works for Google or Apple so maybe we should stop pretending like that’s all that matters…
  - hot_gril 3y ago
    I get it. You keep talking about the demand going up like it's a given. There are plenty of states where demand is stagnant and so are prices, and that's because people don't want to live there as much. If you think the market is wrong, by all means you can show us and grab tomorrow's hot real estate in another state (or Denmark). And homebuilding peaked pretty much everywhere in America in the 1970s, as did population growth, so this isn't surprising.
    - diogenescynic 3y ago
      >There are plenty of states where demand is stagnant and so are prices You mean like the Rustbelt where all their good jobs got outsourced? Yep… you might be onto something here. The difference is California is artificially restricting supply (i.e., market manipulation) by making it more difficult through zoning laws and permitting. It’s intentional. This is good for homeowners who want to pull up the ladder on the next generation (including their kids) who will be priced out. This is why jobs continue to move to Austin, TX or Raleigh, NC. Money goes where it’s treated best. California thinks it’ll never kill its golden geese, but it looks like they will. There’s a reason there was an exodus from places like the Bay Area during the pandemic and remote work—-people only live there for the income potential and once they didn’t have to, they moved as fast as they could to other places.

hot_gril 3y ago

There are more houses in California than before, and the sum of their value has probably far outpaced any other state. There's no shortage of usable land here. And well, don't live in the bad part of Antioch.

diogenescynic 3y ago
You’re talking about absolutely values and ignoring that the rate of homes being built has stagnated to record lows (and definitely not keeping up with population growth and immigration). You’re either ignorant or dishonest or both. >And well, don't live in the bad part of Antioch. Might as well tell people not to be poor. Super useful advice, bub.
- hot_gril 3y ago
  I'm ignoring that because it doesn't matter. Are you saying that our population is simply growing without places for people to stay? Half our population is homeless or something? If the state were doing so poorly, there wouldn't be demand to live here. And if you want to call me ignorant, give me the source on those "record lows" because all I can find is https://fred.stlouisfed.org/series/SMU06000002023610001SA https://fred.stlouisfed.org/series/SMU06000002023610001SA like are you comparing to the 2006 bubble? > Might as well tell people not to be poor. Super useful advice, bub. The suggestion is that if you cannot afford to live in an ok part of a city, you can instead be in a rural area, or better yet not live in California if you dislike it this much. I don't know if you'd find life better in the comparable part of Dallas or Detroit; weather alone might change your mind.
  - diogenescynic 3y ago
    Parts of California are easily worse than Detroit: https://www.tiktok.com/t/ZTLka6qqp/ https://www.tiktok.com/t/ZTLka6qqp/ This is downtown SF after the sun goes down. This is 10x worse than it was 5 years ago. Meanwhile a fentanyl genocide is going on while liberal scumbag voters and politicians pat themselves on the back for giving out needles to them. It’s sick.
diogenescynic 3y ago
>I'm ignoring that because it doesn't matter. Are you saying that our population is simply growing without places for people to stay? This conversation is pointless since you don’t understand economics 101 or the law of supply and demand. That’s why you think it “doesn’t matter”… you’re missing the forest through the trees. The prices are going up because there’s a chokehold on supply… when you restrict supply and demand remains the same or increase—prices go up. This isn’t rocket surgery. Just Google the rates of homebuilding in California. It peaked in the 70s and dropped every decade since. Sure, here’s an article: https://www.washingtonexaminer.com/news/2432071/california-home-construction-so-low-it-will-take-34-years-to-meet-current-demand/ https://www.washingtonexaminer.com/news/2432071/california-h... Yes, it’s great to work for a big tech company in California. But I guarantee it’s better to be a teacher or any other normal job in Denmark. Not everyone works for Google or Apple so maybe we should stop pretending like that’s all that matters…
- hot_gril 3y ago
  I get it. You keep talking about the demand going up like it's a given. There are plenty of states where demand is stagnant and so are prices, and that's because people don't want to live there as much. If you think the market is wrong, by all means you can show us and grab tomorrow's hot real estate in another state (or Denmark). And homebuilding peaked pretty much everywhere in America in the 1970s, as did population growth, so this isn't surprising.
  - diogenescynic 3y ago
    >There are plenty of states where demand is stagnant and so are prices You mean like the Rustbelt where all their good jobs got outsourced? Yep… you might be onto something here. The difference is California is artificially restricting supply (i.e., market manipulation) by making it more difficult through zoning laws and permitting. It’s intentional. This is good for homeowners who want to pull up the ladder on the next generation (including their kids) who will be priced out. This is why jobs continue to move to Austin, TX or Raleigh, NC. Money goes where it’s treated best. California thinks it’ll never kill its golden geese, but it looks like they will. There’s a reason there was an exodus from places like the Bay Area during the pandemic and remote work—-people only live there for the income potential and once they didn’t have to, they moved as fast as they could to other places.