[quote=no_such_reality][quote=bearishgurl]
This is all due to rampant CFD formation, approved by its short-sighted, greedy and incompetent leaders mostly in the last decade. RIV Co has turned from an agriculture and military-based county (self-sustaining) into a megalopolis bedroom community with few jobs which pay enough for rent/mortgage.
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No, BG,it is a 30%+ legal population growth and probably a 50% pop growth when counting illegal.
That’s since 1990.[/quote]
nsr, re: RIV Co, it is a classic case of the “chicken and the egg syndrome.” All that influx of hundreds of thousands of people would never have moved in there were it not for the abundance of cheap tract housing. In 1990, the bases were still very much alive but it didn’t have too much more “redeeming qualities” except tourism in select spots (Palm Sprs, La Quinta) and the same is true today. That “new population influx” didn’t move to Palm Sprs or La Quinta or more established areas such as Redlands and Riverside. They moved to SE RIV county where all the new construction was. Had these CFD’s never been formed, this population would have just stayed their working-class established communities in SD County or Corona, Downey, Hawaiian Gardens, Anaheim or Vernon, for example.
RIV Co’s original “new construction buyers” in the early-mid nineties displaced existing CA homes/rental units, either by selling them, renting them out or leaving their landlords to find new tenants. Very, very few of them moved in from out of state.
Sorry, but SE RIV County is not exactly what residents of other states (who can afford to move their families to CA) dream about. IOW, they don’t sit on the porch swing of their 3000+ ft spread in TX and say, “Hey, let’s pack up and move to Moreno Valley (or Menifee), CA! I heard it’s a “happening place” and they have thousands of brand new homes eight feet apart and this special tax called “Mello Roos” which gives them new roads connecting them from the middle of nowhere to civilization. And it’s only 75 mi or ~3 hours from the `beach!’ Let’s head on out there and take a look …. we’ll stop at the Grand Cyn on the way back!”
It just didn’t happen that way. The Riv Co influx was an organic displacement of families in phases over many years from neighboring, higher-priced counties. These families realized (thru radio and billboards targeted specifically to these communities) that new construction could be had at an “affordable” price which either did not exist in their built-out, established communities or if it did, it was prohibitively expensive.
And, as we all know, we get exactly what we pay for in this life. After moving from their “hometowns” to SE RIV Co, their mtg/rent bill went down $500 mo and their gasoline bill went up $500 (not taking into acct tires/auto repairs or their time spent commuting). I’m sure after a year of living in the IE, their old 1500 sf digs in Montebello was starting to look good to many of them :=0
Those “illegals” you speak of were “put up” in trailers and manufactured homes on the properties of their employers OR living with legal-resident relatives locally with no leases or utility bills in their names …. yes in 1990 AND today. They can’t get mortgages and they can’t very easily rent in their own names. So, CA doesn’t need to “project” enough housing for its “illegal population.” They either find a way to survive here thru “sponsors” or go home.
The vast majority of foreign RE buyers in CA using all cash have a legal right to be in this country (even if “temporary”).
