Middle Class Migration Out Of California

[The-Shoveler]

[quote=flu]
That’s just because the credit spigot has been relaxed again and people can lease again.[/quote]

Maybe, Oddly enough the IE is doing a lot better right now, they got Amazon building and opening a large facility and a score of others doing the same.
They loosen up credit and housing industry will likely take off next year in the IE, one of the few places with a lot of buildable land left in SoCal.

[spdrun]

Then again, SoCal real estate has gone up a lot more than other places since 2009. So it stands to reason that a rise in rates that will happen eventually will work like this. *SQUEEEEE* *CRASH* *gurgle*

Hopefully, one of the few good things about both GOP houses will be that they’ll put the screws on the balls of Obama’s pet stooge Mel Watt and the FHFA lorded over by him, so that the extent of credit offered to losers will not be allowed to increase dramatically.

[bearishgurl]

[quote=The-Shoveler][quote=flu]
That’s just because the credit spigot has been relaxed again and people can lease again.[/quote]

Maybe, Oddly enough the IE is doing a lot better right now, they got Amazon building and opening a large facility and a score of others doing the same. They loosen up credit and housing industry will likely take off next year in the IE, one of the few places with a lot of buildable land left in SoCal.[/quote]Shoveler, I don’t know about “buildable land left” that is zoned residential but overall I agree with you. Even “rough around the edges” San Bern, Ontario and surrounds are (slowly) moving on up (hopefully, out of BK) 🙂

[flyer]

Agree many of us are doing very well living in CA, in fact, many of us are making a “killing,” but, it seems that percentage is still quite low (according to the stats I’ve read.) I think, perhaps, the article may be more relevant to the population at large.

“Piggs” have much to be “thankful” for, indeed.

[FlyerInHi]

Shoveler, I know a guy who bought 2 dozen houses in the IE at the bottom. He was convinced prices would move up. He was right.
Unfortunately, he died of cancer and didn’t get to enjoy the returns. His widow is now just collecting rents.

Looking back I was too pessimistic and late. But I’m glad I got a few properties here and there.

There is nothing wrong with people moving out of state like they have since the 80s.
It’s the replenishment rate that matters. Mobility and turnover are actually signs of a healthy economy.

[Coronita]

I don’t know flyer.

Aside from tech and entertainment (which even in those industries most people are not making a *killing* , yet still doing pretty well), I think by nature of being on the west coast, it’s an entry point to the far east. So with that, a lot of people come to the more populated urban areas and end up bringing a lot of opportunity. We’re talking people with money to spend and able to consume at various level. That has to be a net positive for our state’s economy, for local businesses, retail, and the real estate industry… Also, a lot of these more well to do people want to immigrate here (legally) and park their money/assets here in the U.S. because they themselves have more trust in our legal/financial system than what happens overseas..And they’ll be the ones paying federal/state/local taxes when they do.

I don’t think things are as bad as people make them out to be.. Expensive.. Absolutely… But it does come with a lot of perks too. It’s probably also why for folks that want to sustain themselves here, they need to figure out how to tap into that stream of new money, directly or indirectly, whether it’s as a business owner/retail owner/ independent contractor, or as an employee of a firm that taps into that stream…It wouldn’t hurt if we all did, frankly.

I’d say relative to the rest of the bigger cities, san diego is actually lagging in terms of opportunties relative to everywhere else right now. We didn’t get hit as bad, but we certainly aren’t rocking like Silicon Valley is right now or L.A.

[FlyerInHi]

[quote=flu]

I’d say relative to the rest of the bigger cities, san diego is actually lagging in terms of opportunties relative to everywhere else right now. We didn’t get hit as bad, but we certainly aren’t rocking like Silicon Valley is right now or L.A.[/quote]

Yes. Even relative to the Inland Empire. The IE has rebounded very well. San Diego has as small town, parochial mentality. But SD does have UCSD, tech, medical and good weather, a good combination that works despite the small town mentality.

A lot of the new money from Asia/Pacific, as you said, goes to the borderline LA/Riverside area. The Latino population is also booming bringing business opportunities.

I think that a high speed train between LA and Vegas would cause the IE to boom.

I personally regret not buying anything in the IE (mostly because I don’t really like the area, but business is not about personal like).

[flyer]

I agree with you, flu. My comment about “making a killing” was actually meant to include all of CA, not just San Diego, and, even then, I do realize that applies mostly to niche populations–some of which you mentioned–and some of which are represented here on Piggington.

Also, I think you hit the nail on the head when you mentioned creating a “sustainablity” factor. IMO, this factor is “a,” and possibly “the” key determinant for individuals or families who wish to stay in CA for the
long-term.

[brg654]

good article about this in the times today.

[spdrun]

*HURL*

I’d sooner move to Eastern Europe, which doesn’t have all of the disadvantages of the South (overly strict laws/enforcement, lack of public transit, disgusting sprawl, shit climate, etc), yet still has reasonable cost of living.

[FlyerInHi]

[quote=brg654]good article about this in the times today.

[/quote]
Not surprising. California is the new New York, but with better weather.

America is all about mobility. New arrivals replace the residents who move away. The churn is actually very good. It injects new blood and dynamism.

[spdrun]

I’d rather move to Vermont, northern NH, or Europe than anywhere in the humid, poorly-transited, trafficky Southern US.

[FlyerInHi]

If you want a certain job, you may have to move to Dallas or Houston.

Business parks, master planned communities, big box town centers are the standard American way of life. Even in the northeastern suburbs.

[spdrun]

Guess it’s a job I won’t be taking then, huh? I’d rather stay freelance and landlord than work for some bunch of assholes who moved their company to an utter festering pesthole.

I’d rather have an apartment or house in the worst ghetto of a decent-sized city…

[FlyerInHi]

Houston is decent size.
What are your objective measures for quality of life?

You’d be surprised that in Europe many companies and government offices have relocated outside the city to thr suburbs.

[Author]

Posts