California unemployment to 10.1%

[Craig234]

Originally posted by: charrison

Originally posted by: eskimospy

Originally posted by: charrison

IF California was the most desirable place to live, it would not be losing population. California could possibly lose house seats after the next census.

California is not losing population, it may lose a house seat after the next census because its population is growing more slowly than the national average. Property values in CA, even after any housing correction will remain among the highest in the nation, and for a good reason. A lot of people want to live here.

Yes people want to live there, but people do appear to finding places better to live than California.

Not so much. They do find cheaper places.

But let's try charrison's logic: if Beverly Hills were desirable, it wouldn't be losing people.

Couldn't possibly have anything to do with, say, being highly desirable, but factors from the economy to other places becoming increasingly more affordable.

FWIW, the top parts of the CA Bay Area are among the softer hit in the real estate crash. It's the highly Republican, inland, poorer areas that are hardest hit.

 

[BoomerD]

Originally posted by: Craig234

Originally posted by: charrison

Originally posted by: eskimospy

Originally posted by: charrison

IF California was the most desirable place to live, it would not be losing population. California could possibly lose house seats after the next census.

California is not losing population, it may lose a house seat after the next census because its population is growing more slowly than the national average. Property values in CA, even after any housing correction will remain among the highest in the nation, and for a good reason. A lot of people want to live here.

Yes people want to live there, but people do appear to finding places better to live than California.

Not so much. They do find cheaper places.

But let's try charrison's logic: if Beverly Hills were desirable, it wouldn't be losing people.

Couldn't possibly have anything to do with, say, being highly desirable, but factors from the economy to other places becoming increasingly more affordable.

FWIW, the top parts of the CA Bay Area are among the softer hit in the real estate crash. It's the highly Republican, inland, poorer areas that are hardest hit.

Yep. I live in the Central Valley and our unemployment rate is already over 13% and predicted to top 16% before the end of the year.

 

[glenn1]

Originally posted by: CanOWorms

Originally posted by: Red Dawn
It's a correction long overdue it CA. This will result in cheaper housing and less overcrowding (or at least slow it down drastically) and in 10 years CA might start to resemble the way it was before the Tech Boom which started the decline of the quality of life there....or not.

No thanks.

The type of life changed and it won't revert back to your 1950s vision. California will always be one of the most desirable places in the world to live. If you can't find a way to cut it, go to Arkansas.

The reason it's so "desireable" is because "creative class" liberal yuppies are willing to pay a huge premium to live in an area with a lot of people like themselves (e.g. San Francisco, Portland OR, Madison WI, Boston MA, etc). It's a lifestyle premium, not really so much one of geography or any of the other reasons you might cite. There's plenty of places out there with as many if not more advantages than CA (whether it be natural beauty or anything else), and it's amazingly parochial, chauvanistic, and small-minded of you to believe CA is the utmost of anything.

As far as moving to AR if you can't "cut it" in CA - having lived in Monterey CA for 4 years, I can say it's nice, but not so nice that it's worth the completely crazy costs and trade-offs involved. I can, have, and currently do live a hugely better lifestyle in almost anywhere else of the other 99% of the country that aren't liberal meccas. Bigger house, lower taxes, more disposable income to travel, better schools - in almost every metric I'm better off than I was in CA. It's fine for those that want to be a wage slave for the status symbol of a California address, but don't kid yourself in thinking you have it better than the rest of us.

 

[CanOWorms]

Originally posted by: Red Dawn

Originally posted by: CanOWorms
In California, many people who claim it is too overcrowded mean that it has too many minorities, especially after the Tech Boom. It will not revert to a 1950s white utopia. Sorry.

What you think the problem is Indians and Asians? Hell they keep to themselves for the most part and the ones that don't seem to have assimilated well. As far as Hispanics, California always had a lot of Hispanics, especially Mexicans. It's the illegals, especially those from Central America that are a problem but the overcrowding had a lot to do with all the Yuppie Scum that moved to NorCal to work in Silicon Valley driving up housing costs, over crowding the freeways and general fucking up the quality of life. It'd be like a bunch of ATOTers moving into your neighborhood.

I think that there are no problems with any type of people here.

Yuppies don't work in Silicon Valley. It's a suburban wasteland. Fobs work in Silicon Valley.

 

[CanOWorms]

Originally posted by: glenn1
CA is the utmost of anything.

I have not said that nor will I ever say that.

 

[theeedude]

Originally posted by: charrison
Yes and prices are 1/2 what they were at the peak. Much easier to keep now.

In some areas... Mostly ones an hour from big cities where people were speculating the next suburbia would be and buying investment properties.
Here in Silicon Valley, prices are down 10-20%, but with unemployment rising, that's gonna change. I am going to start looking this year, but likely buy sometime next year.

 

[Budmantom]

Originally posted by: senseamp

Originally posted by: charrison
Yes and prices are 1/2 what they were at the peak. Much easier to keep now.

In some areas... Mostly ones an hour from big cities where people were speculating the next suburbia would be and buying investment properties.
Here in Silicon Valley, prices are down 10-20%, but with unemployment rising, that's gonna change. I am going to start looking this year, but likely buy sometime next year.

Prices will keep falling but it will be very interesting to see what will happen with the interest rates next year, my guess is they will go up to 6-7% and keep climbing.

 

[PrinceofWands]

My county's currently over 14%...it's frequently over 10% for the last 20 years.

 

[BrownTown]

Well, California is pretty much the shit hole of the country, but this does raise an important point. The liberals have run California into the ground with their idiotic programs and lack of fiscal responsibility and now they are trying to do the EXACT same thing to the country as a whole, so I don't really get the warm fuzzies from all this.

That said, I haven't see or felt and sort of economic downturn where I am at, I am making more money then ever, and the local economy just landed its THIRD billion+ dollar manufacturing plant in teh last 6 months. Just those three plants alone along with the other major construction projects are going to employ like 5000 people. From everything I've seen the economy here is doing better than anytime I can remember. Where I work we have been trying to get people for moths, but people keep leaving for higher paying jobs elsewhere.

Its really not that complicated, if you work hard in life, spend only within your means, and are willing to be flexible you can withstand pretty much an economic adversity. This aint exactly rocket science, its the same thing my parents instilled in me my entire life. Too bad our country has spent the last decade or more trying to tell you that none of these things mattered, that you could spend more then you make, and get rich doing nothing but playing the Wall Street game. People these days think the path to success is to be a hedge fund manager, or a stock broker, or an investment banker. Well, all these sorts of people are just middlemen, and are nothing but leaches to our country.

 

[fskimospy]

Originally posted by: BrownTown
Well, California is pretty much the shit hole of the country, but this does raise an important point. The liberals have run California into the ground with their idiotic programs and lack of fiscal responsibility and now they are trying to do the EXACT same thing to the country as a whole, so I don't really get the warm fuzzies from all this.

Haha, sure it is. Sounds an awful lot like envy to me. Let me guess, you live in the midwest or the south? If you do, it's definitely envy.

As for your assessment of the roots of California's budgetary problems, you haven't the slightest clue what you're talking about. There have been several threads on this topic here already and I would suggest you could start educating yourself there and then come back here with something meaningful to say instead of 'OMG LIBRULS".

 

[Craig234]

Originally posted by: BrownTown
Well, California is pretty much the shit hole of the country, but this does raise an important point. The liberals have run California into the ground with their idiotic programs and lack of fiscal responsibility and now they are trying to do the EXACT same thing to the country as a whole, so I don't really get the warm fuzzies from all this.

That said, I haven't see or felt and sort of economic downturn where I am at, I am making more money then ever, and the local economy just landed its THIRD billion+ dollar manufacturing plant in teh last 6 months. Just those three plants alone along with the other major construction projects are going to employ like 5000 people. From everything I've seen the economy here is doing better than anytime I can remember. Where I work we have been trying to get people for moths, but people keep leaving for higher paying jobs elsewhere.

Its really not that complicated, if you work hard in life, spend only within your means, and are willing to be flexible you can withstand pretty much an economic adversity. This aint exactly rocket science, its the same thing my parents instilled in me my entire life. Too bad our country has spent the last decade or more trying to tell you that none of these things mattered, that you could spend more then you make, and get rich doing nothing but playing the Wall Street game. People these days think the path to success is to be a hedge fund manager, or a stock broker, or an investment banker. Well, all these sorts of people are just middlemen, and are nothing but leaches to our country.

Well, you look idiotic IMO with your statement on the best state in the nation, but I notice for all your bragging about how good things are where you are, you don't say where it is.

It's not that you don't some other reasonably valid points, even if they could be said a bit better - for example, it's better to note that while the financial industry has largely become a 'leech' industry some part of it still has a very valid role in the economy, and while you criticize the people in it compared to those factories near you, it's not hard to determine who makes a lot more money - but you sound pretty ignorant about CA, and should recognize the point I made previously that different people like different things.

CA is the best place around for some people, and not for some others who like different things. And that's a good thing, probably.

BTW, are some or all of those billion+ manufacturing plants for foreign companies?

 

[Pneumothorax]

Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K. That includes the $60K down payment that I have in it that I will lose. It will take over a DECADE before housing prices go back to when I bought my house. Anyone that tells you anything else either works for Real Estate or the US GOV. At this point it's better fiscally just to foreclose and move a more affordable state that doesn't take another $20K in state income tax per year. Yup while our unemployment is high let's just add $50 Billion in taxes over the next 4 years and more to come.

 

[Red Dawn]

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

 

[Budmantom]

Originally posted by: BrownTown
Well, California is pretty much the shit hole of the country, but this does raise an important point. The liberals have run California into the ground with their idiotic programs and lack of fiscal responsibility and now they are trying to do the EXACT same thing to the country as a whole, so I don't really get the warm fuzzies from all this.

That said, I haven't see or felt and sort of economic downturn where I am at, I am making more money then ever, and the local economy just landed its THIRD billion+ dollar manufacturing plant in teh last 6 months. Just those three plants alone along with the other major construction projects are going to employ like 5000 people. From everything I've seen the economy here is doing better than anytime I can remember. Where I work we have been trying to get people for moths, but people keep leaving for higher paying jobs elsewhere.

Its really not that complicated, if you work hard in life, spend only within your means, and are willing to be flexible you can withstand pretty much an economic adversity. This aint exactly rocket science, its the same thing my parents instilled in me my entire life. Too bad our country has spent the last decade or more trying to tell you that none of these things mattered, that you could spend more then you make, and get rich doing nothing but playing the Wall Street game. People these days think the path to success is to be a hedge fund manager, or a stock broker, or an investment banker. Well, all these sorts of people are just middlemen, and are nothing but leaches to our country.

You don't understand the libs are trying to give a jolt to the economy(or is it electrocute the economy?), you should try it, if the money slows down because you start losing hours at work just start spending and I don't mean a little buy a couple of new cars and a boat and that should jolt your personal finances.

This technique is a proven winner just ask any liberal and if you don't see the brilliance in this great plan you are just a dumb ass.

 

[fskimospy]

Originally posted by: Budmantom

You don't understand the libs are trying to give a jolt to the economy(or is it electrocute the economy?), you should try it, if the money slows down because you start losing hours at work just start spending and I don't mean a little buy a couple of new cars and a boat and that should jolt your personal finances.

This technique is a proven winner just ask any liberal and if you don't see the brilliance in this great plan you are just a dumb ass.

Grow up.

 

[Budmantom]

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

 

[Budmantom]

Originally posted by: eskimospy

Originally posted by: Budmantom

You don't understand the libs are trying to give a jolt to the economy(or is it electrocute the economy?), you should try it, if the money slows down because you start losing hours at work just start spending and I don't mean a little buy a couple of new cars and a boat and that should jolt your personal finances.

This technique is a proven winner just ask any liberal and if you don't see the brilliance in this great plan you are just a dumb ass.

Grow up.

I'm sure you are a big fan of spending our way to prosperity.

 

[Red Dawn]

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

Hey shit for brains, have you seen one post of mine in this forum where I advocated people not living up to their financial responsibilities? I don't feel a bit sorry for those who got into a house that they couldn't afford and I feel even less sympathy for those who are shirking their responsibilities because the house they bought isn't worth what it was when they bought it.

 

[fskimospy]

Originally posted by: Budmantom

Originally posted by: eskimospy

Originally posted by: Budmantom

You don't understand the libs are trying to give a jolt to the economy(or is it electrocute the economy?), you should try it, if the money slows down because you start losing hours at work just start spending and I don't mean a little buy a couple of new cars and a boat and that should jolt your personal finances.

This technique is a proven winner just ask any liberal and if you don't see the brilliance in this great plan you are just a dumb ass.

Grow up.

I'm sure you are a big fan of spending our way to prosperity.

No, I'm just sick of your juvenile trolling. You know exactly what you're doing, and it's incredibly immature. So again, why don't you grow up?

 

[Budmantom]

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

Hey shit for brains, have you seen one post of mine in this forum where I advocated people not living up to their financial responsibilities? I don't feel a bit sorry for those who got into a house that they couldn't afford and I feel even less sympathy for those who are shirking their responsibilities because the house they bought isn't worth what it was when they bought it.

Are you not "on board" with the great plans of Barrack Hussein Obama?

I think not!

and I don't appreciate being called a liberal.

 

[Budmantom]

Originally posted by: eskimospy

Originally posted by: Budmantom

Originally posted by: eskimospy

Originally posted by: Budmantom

You don't understand the libs are trying to give a jolt to the economy(or is it electrocute the economy?), you should try it, if the money slows down because you start losing hours at work just start spending and I don't mean a little buy a couple of new cars and a boat and that should jolt your personal finances.

This technique is a proven winner just ask any liberal and if you don't see the brilliance in this great plan you are just a dumb ass.

Grow up.

I'm sure you are a big fan of spending our way to prosperity.

No, I'm just sick of your juvenile trolling. You know exactly what you're doing, and it's incredibly immature. So again, why don't you grow up?

Are you not "on board" with the great plans of Barrack Hussein Obama?

I think not!

 

[Craig234]

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

Hey shit for brains, have you seen one post of mine in this forum where I advocated people not living up to their financial responsibilities? I don't feel a bit sorry for those who got into a house that they couldn't afford and I feel even less sympathy for those who are shirking their responsibilities because the house they bought isn't worth what it was when they bought it.

I have some sympathy for people who don't understand finaincing and had predatory lenders who they talked to and asked what they could afford, who dishonestly assured them they could afford more than they could, with all the phony products, and the adjustable rates - who SOLD the people thos eloans for their own selfish interests, and who the people trusted to tell them what they could afford.

The assumed culture was that the lender was going to be a limiting factor, not wanting to loan you more than you can afford; many did not expect their bias to go the other way.

Also, as I mentioned, in 2004 the FBI was reporting massive loan fraud, with 70% of it initiated by the lenders, not the buyers.

It's just not realistic to expect a lot of uneducated home buyers to have been so suspicious of the lenders overselling them loans, when the payments looked fine at the time.

They get duped into overbuying all the time by places who concentrate the sales pitch on the 'low monthly payment', not the interest rate, and the same happened here.

Blame them? Not that much, just some - the system failed them, really, as the sharks went for the dishonest profits, driven by 'Wall Street fat cats' who chose to make aggressive bets on the housing industry continuing to rise and created the huge financian incentives to 'just move the paper and close the deals' to generate the big profits - if the bet worked. Payl people to be sharks, you get sharks. The system is supposed to have better protections for the uneducated buyers.

 

[Red Dawn]

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

Hey shit for brains, have you seen one post of mine in this forum where I advocated people not living up to their financial responsibilities? I don't feel a bit sorry for those who got into a house that they couldn't afford and I feel even less sympathy for those who are shirking their responsibilities because the house they bought isn't worth what it was when they bought it.

Are you not "on board" with the great plans of Barrack Hussein Obama?

I think not!

and I don't appreciate being called a liberal.

I didn't call you a liberal, I called you a troll aka shit for brains.

 

[Budmantom]

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Budmantom

Originally posted by: Red Dawn

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K.

So you played the R.E. market and lost and will just walk away from your responsibility. Attaboy:roll:

I'm surprised that it would bother you, after all he is sticking it to the man(probably a white investor).

Hey shit for brains, have you seen one post of mine in this forum where I advocated people not living up to their financial responsibilities? I don't feel a bit sorry for those who got into a house that they couldn't afford and I feel even less sympathy for those who are shirking their responsibilities because the house they bought isn't worth what it was when they bought it.

Are you not "on board" with the great plans of Barrack Hussein Obama?

I think not!

and I don't appreciate being called a liberal.

I didn't call you a liberal, I called you a troll aka shit for brains.

Same thing.

Are you not "on board" with the great plans of Barrack Hussein Obama?

 

[Craig234]

Originally posted by: Pneumothorax
Where do you live brown? I'm about ready just to foreclose this house in southern CA that's upside down almost $300K. That includes the $60K down payment that I have in it that I will lose. It will take over a DECADE before housing prices go back to when I bought my house. Anyone that tells you anything else either works for Real Estate or the US GOV. At this point it's better fiscally just to foreclose and move a more affordable state that doesn't take another $20K in state income tax per year. Yup while our unemployment is high let's just add $50 Billion in taxes over the next 4 years and more to come.

If your CA income tax is $20K, with the top income tax rate 9.3%, you have to be making over $200K to owe that much - and should not be having a big problem paying it.

By the way, you don't have to move to another state to get lower real estate prices now - that's why you're upside down almost $300K, they've gone down in price here too.