What will happen to Cali in the next few years?

[smackaholic]

As we all know, Cali is quickly adopting a third world economic model where most are scraping by. The lucky ones live in the ghetto. The rest live in a 1974 Winnebago or an old dodge minivan. A few live in a refrigerator box.

A handful are hyper-wealthy.

An itsy bitsy number are middle class. Most of this middle class, like our own Miguel, are in their middle class situation because they're old enough that they achieved this status back when middle class was a thing and home prices were somewhat sensible.

But now, a major source of those new bazillionaires is imploding. Zuckerberg is cleaning house. So is Elon. Others will follow, I suspect as more people get past their CV lockups and log off for a while.

What will the state do as this wealthy class dries up? Many middle class or higher have already bailed.

Will we see the same sort of real estate collapse they had in the early 90s which was due partly to big changes in high tech and partly due to military cutbacks after communism allegedly collapsed?

The northeast saw the same collapse at the time for the very same reasons. This along with a pesky jug earred midget billionaire are why Bush the elder never saw a second term.

I think it will be way worse, because that group didn't have artificially low mortgages which are now history to amplify the carnage.

What did a 3 BR 2 BA ranch in OC sell for last year? A million two, maybe? I'll bet its down under a half mill by next summer. Maybe lower.

It's gonna be ugly.

People who bought there in the last few years are fine, so long as a paycheck comes in. They have million dollar mortgages at 2.75% . But, if they have to relocate, there's no way in hell they can sell, unless they have the ability to let someone else assume that 2.75%. Trouble is, who is gonna want to take that on? It might work if they know they'll be there for 20 years.

You are gonna see an awful lot of people handing their keys over to the bank as they drive off to a place where a middle class life is still a thing.

[Kierland]

More snowflakes with no real brain like Douchetown and mvskkkal will leave. The US (world?) economy as a whole will implode. Cali will fair better than most.
You will still be a pawn for rich people by spouting their rhetoric. The irony of which is I have way more money than you and yet I don’t do that. It’s almost like one of us has a conscience.

[smackaholic]

And what rich person rhetoric would that be, dickhead?

Would it be getting rid of the Fed and fiat currency?

It is why we're in the boat we're in......again.

We learned jack shit in '08. The only difference is at that time they played games with variable rates. They learned from that and this time around they said artificial low rates are fine....if we make them fixed.

So now, we have millions of people out there sitting on their 2.75% 900K mortgages. They're fine. All they have to do is hold onto their jobs for a minimum of 15-20 years to get the principle paid down to a reasonable level. If they have to move, they're fucked. Their only option will be to hand the keys to the bank.

After this happens enough times, the market will adjust. Prices will collapse.

Then we'll have to build this fukking house of cards again. Hopefully we won't do 2% money again, but I'm sure they'll come up with another scam. They always do.

I actually give a share of the blame to the Orange Facist, believe it or not.

Back around 2018 or so, as the economy finally started to roll because of tax/regulatory actions, the Fed hinted at a rate increase. Trump should have said good. Now that the economy can stand on its own, it doesn't need free money. Mortgages will get back to reality and we'll be OK.

But Trump, in the end, is like the rest of these Charlatans. He wanted free money to stay in place long enough to get him through re-election. And it would have worked had the world economy not caught the flu in '20.

So, what is your advice to Californians not born on a heap of gold?

Tough it out? Living in a van down by the open storm drain ain't so bad. (sorry Calis, but if it is dry 362 days a year, it ain't a river)

Living in the ghetto is OK too. Well, unless you get shot, but odds are fair that won't happen.

Maybe tell them to by an RV and wander the country till things settle down?

Oh, wait, that requires that heap of gold thing. Never mind.

[Wolfman]

In the meantime, ignoring advice, my newlywed granddaughter and husband are going to SoCal to look for work.
Pending.

[Kierland]

“And what rich person rhetoric would that be, dickhead?”

Vote red until you’re dead. Oh and Capitalism works. Hope that helps.

[Kierland]

In the meantime, ignoring advice, my newlywed granddaughter and husband are going to SoCal to look for work.
Pending.

Ignoring a stupid old man that votes for naziis? You don’t say.

[Kierland]

And yes, fiat currency is a scam. That is why I own more silver, gold, platinum and palladium than any of you. Probably more than all of you combined.

[Meat Head]

I think we are seeing an ego problem here.

[smackaholic]

“And what rich person rhetoric would that be, dickhead?”

Vote red until you’re dead. Oh and Capitalism works. Hope that helps.

Capitalism does work, when it isn't micromanaged by idiots.

What else has?

And please don't tell me Scandanavian socialism.

The Swedes went too far down the socialist road after WWII. It didn't go well, so they've pulled back and are actually very much capitalists today, admittedly with a generous social welfare component. They have fairly high taxes for all because they understand that the tax the rich strategy never works. They think Bernie is a fukking moron as he sells the democratic version that says everyone can have very low tax rates so long as we make a handful of rich fukks "pay their fair share".

The Chinese have used capitalism along with taking advantage of our good will over the last 40 years to drag many of their people out of abject poverty. They are now trying to clamp down on this capitalism and it won't go well. It never does.

[smackaholic]

I think we are seeing an ego problem here.

ya think?

[Kierland]

I’m not here to argue with an idiot about capitalism. The point was I was explaining to you what right wing rhetoric you spew. Try and learn to read.

[Kierland]

I think we are seeing an ego problem here.

ya think?

I didn’t say I was better than someone (debateable) I said I had more PMs (provable). Again learn how to read.

[Mikey]

I'm not sure if I should laugh or feel sad when somebody who knows jack shit about what he's posting displays his ignorance in public. After all, I do like suckackaholic, but when it comes to what's happening in California he's about 2,500 miles off. Maybe he should worry more about what's happening in Connecticut.

I have two millennial kids, one living in downtown San Diego and one, who got married in June, living in Oceanside. Daughter is a CPA and son is an engineer married to a PhD student in microbiology. They both seem to be doing just fine, living in nice apartments.

I'll admit that we lucked out on our current home. We bought our house at a good time, in 1999, and have a really low mortgage rate after re-financing a few years ago. It's now worth over 3x what we paid for it (allegedly), but that's paper profit because we won't be selling anytime soon. The value had gone up almost as high by 2007 but crashed back to what we paid for it in a year. The pendulum swings.

I was never able to even think about buying a home until my mid thirties when I got married and we combined our assets to come up with a down payment. I don't know where the expectation came from these days that you should be able to buy a house when you're in your 20s. I think that's pretty unreasonable for most, and has been for a very long time. We bought our first home in 1988 for about $150,000. Sold it three years later when Mrs. Mikey was ripe with child #2 for $210,000, a nice profit, and bought a new, larger home for $300,000. Sunk another $50 or $60K into landscaping and window treatments, then got laid off and had it on the market for a year before we could sell for $300,000, so we lost a big chunk. I commuted from San Diego to Las Vegas for a year for my new job while the wife sat in the house with two toddlers and kept it clean for lookey loos.

My point? Life is what it is. The pendulum swings, there's nothing new or unusual happening here, except for a growing preponderance of brain damaged MAGAT idiots. Home prices have crashed here and recovered at least three times, maybe four, in the past 30 years, and it will happen again and again. Deal with it, i.e., if you're going to buy, buy low. If you're going to sell, sell high.

[Kierland]

Sunk my college $ (thanks grams and gramps) into 1/4 of an old apt complex near campus. Put myself thru college on the 6yr plan. Sweat equity in apts and a JD kept me sailing till covid. Flipped the house I was in for way more than I paid. Who knows what’s next but last two years on the road has been pretty cheap (not having a house sets our automatic payments to $100 a month) and an awesome time.

[Rootbeer]

college $ (thanks grams and gramps)

You better recognize your privilege right the fuck now and give that money to a more deserving minority, motherfucker. Fuck you.

[Kierland]

I raised a POC kid when I didn’t have to, I did more pro bono and cheap cases than other atty. I know, our rents are below market. Why? Because I’m a human fucking being, not a shit smearing drive by garbage person. Now slide back under your rock for another decade you no take having paint eater.

[smackaholic]

I'm not sure if I should laugh or feel sad when somebody who knows jack shit about what he's posting displays his ignorance in public. After all, I do like suckackaholic, but when it comes to what's happening in California he's about 2,500 miles off. Maybe he should worry more about what's happening in Connecticut.

I have two millennial kids, one living in downtown San Diego and one, who got married in June, living in Oceanside. Daughter is a CPA and son is an engineer married to a PhD student in microbiology. They both seem to be doing just fine, living in nice apartments.

I'll admit that we lucked out on our current home. We bought our house at a good time, in 1999, and have a really low mortgage rate after re-financing a few years ago. It's now worth over 3x what we paid for it (allegedly), but that's paper profit because we won't be selling anytime soon. The value had gone up almost as high by 2007 but crashed back to what we paid for it in a year. The pendulum swings.

I was never able to even think about buying a home until my mid thirties when I got married and we combined our assets to come up with a down payment. I don't know where the expectation came from these days that you should be able to buy a house when you're in your 20s. I think that's pretty unreasonable for most, and has been for a very long time. We bought our first home in 1988 for about $150,000. Sold it three years later when Mrs. Mikey was ripe with child #2 for $210,000, a nice profit, and bought a new, larger home for $300,000. Sunk another $50 or $60K into landscaping and window treatments, then got laid off and had it on the market for a year before we could sell for $300,000, so we lost a big chunk. I commuted from San Diego to Las Vegas for a year for my new job while the wife sat in the house with two toddlers and kept it clean for lookey loos.

My point? Life is what it is. The pendulum swings, there's nothing new or unusual happening here, except for a growing preponderance of brain damaged MAGAT idiots. Home prices have crashed here and recovered at least three times, maybe four, in the past 30 years, and it will happen again and again. Deal with it, i.e., if you're going to buy, buy low. If you're going to sell, sell high.

You say this as if it is normal. And on balance, you did OK. Actually, did pretty well, if you figure in your current place.

But this crazy seesaw of evaluations is not normal. It wasn't even normal in Cali until the last 30 years or so. And depending on where you get on/off the real estate horse in your neck of the woods, you could be rich or you could be absolutely crushed financially and never recover.

Do you not agree that crazy financial schemes are a horrible thing?

And before you blame the evil bankers, remember they are playing by the rules set by government. During the Clinton and Bush years, it was a policy that mandated banks to loan to people who were in no place to borrow because they'd otherwise be racist. That gve us the 2008 crash.

Then, fresh off that, under Obama we got insanely low rates, which continued right on through Cheetolini's reign. So it was bi-partisan dumbfukkery.

About the only guy in DC with the guts to call this bullshit out is Rand Paul who wants to do away with the Fed, which we should.

[smackaholic]

What is a POC kid?

Piece of crap?

Why do you say you didn't have to?

Is he yours?

I mean yeah, I suppose you could have been a deadbeat like countless others, but patting yourself on the back for taking care of your own kid?

That's shitty, even for you.

[smackaholic]

I have two millennial kids, one living in downtown San Diego and one, who got married in June, living in Oceanside. Daughter is a CPA and son is an engineer married to a PhD student in microbiology. They both seem to be doing just fine, living in nice apartments.

If my spreadsheet is correct, one of your kids married into some rich SEC family.

Rack him/her, but this is dumb luck that most can't count on.

I suspect the other married someone not destitute either.

Anyhoo, rack you and the heater for raising a pair of normal humans who have actually decided to grow the fukk up and marry someone, of the opposite sex, even. That is getting to be too fukking rare with the Peter Pan generation. I am equally blessed. Daughter married last May and CB is now engaged to an extremely impressive young lady. Wedding is planned for next September.

And as for your idea that no one buys a house before their mid 30s, Bought my first one at 29. It was a POS in that depressed market from late 80s, early 90s I referenced. Looks like you did as well. When I lived in Nashville, it was common for blue collar twenty somethings to buy a decent little 3 br ranch. Today, no fukking way. Definitely not in Nashville which has the hottest real estate market in the country at the moment. I could go into how we built a house outside Nashville and immediately sold it, losing our ass, but that's depressing. Even more depressing when I go onto one of the realty websites that tells me what it's worth today! :x

like I said, it all works pretty well, if you stumble into the purchases at the right time. I know a few that didn't. My bro-in-law was one of the poor bastards that bought a condo in CT right out of college about 1986-7. The market was hot and even a shitty condo sold for well over 100 at the time. When the market took a shit about a year later, he was stuck with it for a damn long time. I think he and my sis finally sold it sometime around 2000. He had to deal with renters for about a decade.

[Steve Jobs]

Person of color

[Softball Bat]

college $ (thanks grams and gramps)

You better recognize your privilege right the fuck now and give that money to a more deserving minority, motherfucker. Fuck you.

First post ---> in 12 years <--- and you come in and lay the wood to Kierland.

:)

[smackaholic]

So, the midget got a little brown sugar and ended up with a kid?

Rack him for at least hanging around.

Mighty white of him, as Clint would say.

[smackaholic]

And rack the return of rootbeer.

WTF you been?

You another .net refugee?

[Kierland]

What is a POC kid?

Piece of crap?

Why do you say you didn't have to?

Is he yours?

I mean yeah, I suppose you could have been a deadbeat like countless others, but patting yourself on the back for taking care of your own kid?

That's shitty, even for you.

Piece of crap? Nice projection. Oh and you might want to not say that to his face.
The rest is just your normal right wing idiocy.

[Kierland]

college $ (thanks grams and gramps)

You better recognize your privilege right the fuck now and give that money to a more deserving minority, motherfucker. Fuck you.

First post ---> in 12 years <--- and you come in and lay the wood to Kierland.

:)

Everything is easy if you ignore what you feel like ignoring?

[Kierland]

So, the midget got a little brown sugar and ended up with a kid?

Rack him for at least hanging around.

Mighty white of him, as Clint would say.

It’s long past the time when I’m amazed at your stupidity.

“Didn’t have to”
Think!
Really hard.

[LTS TRN 2]

I raised a POC kid when I didn’t have to, I did more pro bono and cheap cases than other atty. I know, our rents are below market. Why? Because I’m a human fucking being, not a shit smearing drive by garbage person. Now slide back under your rock for another decade you no take having paint eater.

The sheer bold face lying of this little punk is never surprising, but always amazing. :P

As for Cali, its present decay and implosion of wanton crime and cultural suicde is of course the result of the DNC's veto-proof majority in Sacramento, the Burton Machine having strangled every avenue of political diversity. And for his part, the the Burton Machine prince and DNC 2024 heir apparent, Gayvin, for his lock-step promotion of Sanctuary State, Open Borders, Affirmative Action, Queer mafia, and total CDC lockdown capitulation, should not only have been removed from office, but put in prison.

As for you clowns making obtuse and wandering bullshit observations about the Golden State, none of you cited the most pressing and dire factor, the drought. And look, Mikey actually spilling his guts and tapping out several paragraphs...of complete twaddle.

[Kierland]

And yet the worst hell holes in Cali are all red and have been for decades.

[mvscal]

I have two millennial kids, one living in downtown San Diego and one, who got married in June, living in Oceanside. Daughter is a CPA and son is an engineer married to a PhD student in microbiology. They both seem to be doing just fine, living in nice apartments.

Two children with post graduate degrees renting "nice apartments." Yeah, that's California.

[Kierland]

You really hate the free market don’t you?

[LTS TRN 2]

And yet the worst hell holes in Cali are all red and have been for decades.

San Jose and L.A. are "red"? Bullshit.

[Kierland]

I know they are but what about LA.

Sin,
Turd

[Mikey]

I have two millennial kids, one living in downtown San Diego and one, who got married in June, living in Oceanside. Daughter is a CPA and son is an engineer married to a PhD student in microbiology. They both seem to be doing just fine, living in nice apartments.

Two children with post graduate degrees renting "nice apartments." Yeah, that's California.

Daughter has a masters in accounting and lives downtown. A lot of young professionals live in apartments, especially if they’re single don’t want a long commute. You obviously are reaching here. My son has a BS. His wife is working on a doctorate. Again you’re showing your ignorance or just reaching here because grad students don’t make a fuck of a lot of money.

[L45B]

Sunk

Just when everybody thought you couldn’t be lower to the ground…

[Kierland]

Says the guy who… wait I don’t know anything about you, you’re that bland and insignificant.

[Screw_Michigan]

Two children with post graduate degrees renting "nice apartments." Yeah, that's California.

Yeah, lots of people rent in highly desirable locations. Unlike the shithole you live in. You know that.

[Carson]

And yes, fiat currency is a scam. That is why I own more silver, gold, platinum and palladium than any of you. Probably more than all of you combined.

So you're a greedy capitalist POS.

[Kierland]

Could you be any dumber? Fiat currency and capitalism are linked like Siamese twins. I don’t believe in either.

You stupid fucks and your drive by idiocy.

[Steve Jobs]

So you have the actual metals and/or specie coins? Ingots, certified of course, what form? Do you have physical custody or a key to a bank vault.

Or are you in some sort of derivitive like futures or traded securities. If so, you are in the fiat money world.

[Mikey]

LTS TURD prolly has a souvenir collection of teeth with gold fillings.