As home prices continue to escalate, the less-affluent folks are considering other options. Will the imbalance catch up with us eventually? If so, when?
Hat tip to daytrip for sending this in:
An excerpt:
Jonas Peterson enjoyed the California lifestyle and trips to the beach while living in Valencia with his wife, a nurse, and their two young kids. But in 2013, he answered a call to head the Las Vegas Global Economic Alliance, and the family moved to Henderson, Nev.
“We doubled the size of our house and lowered our mortgage payment,” said Peterson, whose wife is focusing on the kids now instead of her career.
Part of Peterson’s job is to lure companies to Nevada, a state that runs on gaming money rather than tax dollars.
“There’s no corporate income tax, no personal income tax…and the regulatory environment is much easier to work with,” said Peterson.
Some companies have made the move from California, and others have set up satellites in Nevada. California, a world economic power, will survive the raids, and it will continue to draw people from other states and around the world. Its assets include cutting-edge tech and entertainment industries, major ports, great weather and dozens of first-rate universities.
But the Golden State is tarnished and ever-more divided by a crisis with no end in sight, and this year’s legislative efforts to spawn more housing for working people lacked urgency and scale. Slowly, steadily, and somewhat indifferently, we are burdening, breaking and even exporting our middle class.
Read full article here:
California is experiencing the same trajectory as do all single party states. Make no mistake. The state would be equally in crisis if the other party had been as solely and as completely in control for as long. Different stress factors to be sure but all single party states eventually suffer similar fates.
Gas here in Florida $2.27. Any questions?
Gas here in Florida $2.27. Any questions?
Whoa!
How about home prices? CA – 25%?
Income tax rate 0%. Sales tax rate 6%. Any questions?
Low 2011 now +60% conservatively.
I miss California! I was born there. But I just checked, and the median sq. foot price for Santa Barbara is $754. I was renting just a tract home for $2,005/month. Then I moved. I bought a 2,150 sq. foot single-level home (with RV garage), with all the bells and whistles for $289,900 in late, 2010 (4% mortgage rate).
I bought a 1,941 sq. foot single-level home (with RV garage) which is even more upscale in the next subdivision over for $340,000 in April, 2016.
I have a mortgage w/ a 3.625% mortgage rate. My property taxes are $2,567.86/year. I sleep very well at night… but I still miss the beach… *Sigh*
“Income tax rate 0%. Sales tax rate 6%. Any questions?”
Yeah, but that “can’t take my house” law attracts grifters, murderers and mall attorneys running from justice from every other state in the Union. Also, cranky cubans, arrogant rednecks, and folks like OJ. The mosquito’s look like bats, and the spiders look like rats. Snakes everywhere you’re not looking. There’s a reason it was one of the last states to be properly settled, even though it was on the east coast. Can’t go anywhere without something trying to eat you. Vicious microbes, and angry germs. Manatee rape is not uncommon. Gentle giants my butt!
Florida is like California’s cousin, who got into street hooking, and uses Orange Febreeze for perfume.
Lol! I’m not going to argue. They use chicken wire down here for porch screens.
I could get a motorcycle for 2/3rds the price of where I live but what’s the fun of bugs in your teeth, 35mph speed limits and roads that converge on the horizon?
To be fair, there are some nice parts of Florida. If you don’t mind tarantula’s stealing your Big Mac, wolf spiders that howl at 3 in the morning, and jumping spiders waiting on leaves to jump on your face. Spiders, spiders, spiders. Spiders.
folks, you pay for what you get and you only live once…sometimes you have to mannup and pay….to live in Calif…I for one, am not moving and enjoying this great weather in the month of december….
Has there been a 6 month stretch over the last 40 years when this same premise wasn’t published?
Hey Booty – welcome back!
No, it’s about every six weeks….but they mean it this time! 😆