While trying to organize a training class that I teach at work the conversation turned to "when will you buy Neil." I noted end of 2009 was the earliest possible.
After discussing:
1. Previous price drops
2. The current foreclosure rates
3. How young people need to leave the state
4. How retirees are leaving the state to cash out
5. California Schools
6. Rents declining...
One guy told me how I should buy as "California home prices won't ever go down. People will all want to live here."
I responded: they don't want to live where they can afford to buy. I also noted that the wait is getting to me and other coworkers. One day I might just decide to move.
The replies were just "California is different." Ugh... Sheeple.
Maybe we are still in denial...
This is going to be a very hard landing.
Got popcorn?
Neil
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1 comment:
"It's different this time!" is the battle cry, yet it was the same battle cry for the dot com investors and look where they ended up.
"People will all want to live here"
is the rallying cry, but once you look to see how much it costs in state income taxes, costs of gasoline, cost of living, etc. the cry becomes "People will all want to live here, NOT!"
"California is different" they whine, and yes California is different, so different in fact that many want to leave the "different" state behind and live somewhere that they can afford and are not taxed to death in doing so.
Besides, every state is "different", some have better climates, some have better job opportunities, some have a better environment for starting a business, so yes, each state is different, so why not move to a different state?
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