[EconProf]

Good overview of California’s problems, from a British perspective.
Our politics are indeed polarized, as there is a looney left and looney right that are far from agreeing on anything.
What we can conclude, however, is that during this decline, the left has been in charge. They own the legislature, the media, the universities, the public employee unions, and defacto, the governor’s office.
All the puny Republicans have is Proposition 13 and the two-thirds requirement for a tax increase, both now under assault. Given the outflow of middle-class taxpayers and employers, there is little prospect for a change in our politics.

[EconProf]

Good overview of California’s problems, from a British perspective.
Our politics are indeed polarized, as there is a looney left and looney right that are far from agreeing on anything.
What we can conclude, however, is that during this decline, the left has been in charge. They own the legislature, the media, the universities, the public employee unions, and defacto, the governor’s office.
All the puny Republicans have is Proposition 13 and the two-thirds requirement for a tax increase, both now under assault. Given the outflow of middle-class taxpayers and employers, there is little prospect for a change in our politics.

[EconProf]

Good overview of California’s problems, from a British perspective.
Our politics are indeed polarized, as there is a looney left and looney right that are far from agreeing on anything.
What we can conclude, however, is that during this decline, the left has been in charge. They own the legislature, the media, the universities, the public employee unions, and defacto, the governor’s office.
All the puny Republicans have is Proposition 13 and the two-thirds requirement for a tax increase, both now under assault. Given the outflow of middle-class taxpayers and employers, there is little prospect for a change in our politics.

[EconProf]

Good overview of California’s problems, from a British perspective.
Our politics are indeed polarized, as there is a looney left and looney right that are far from agreeing on anything.
What we can conclude, however, is that during this decline, the left has been in charge. They own the legislature, the media, the universities, the public employee unions, and defacto, the governor’s office.
All the puny Republicans have is Proposition 13 and the two-thirds requirement for a tax increase, both now under assault. Given the outflow of middle-class taxpayers and employers, there is little prospect for a change in our politics.

[EconProf]

If you believe, as I do, that the two reasons to buy rental property are cash flow and appreciation, then I’d suggest anywhere but California. That assumes that you are concentrating on the very long run and that demographic trends are the best predictors of real estate profitability.
A close look at CA’s future reveals so many reasons why we have doomed ourselves to a bleak economic future relative to other states. The populist Sacramento politicians are driving businesses and the middle classes away with mindless regulation and job-killing laws. Income taxes on the richest 1% of our population now account for 50% of personal income tax revenues. Why should these few people (aka employers) stay in CA?
Who is replacing them demographically? One hint comes from the recent revelation that CA has 30% of the nation’s welfare rolls, but only about 11% of the population.
We’ll soon get soaring utility bills as a result of the recently-passed mandate for 33% of our energy to be from renewable resources by 2020 (AB 32). Look for our electricity rates to be twice that of neighboring states, and very soon, since this is a breathtakingly expensive leap in such a short time.
Studies show interstate mobility actually slows during economic downturns, so there is a pent-up demand currently of people who would like to move but can’t. With any kind of return to normalcy nationwide, Californians seeking a better long-terms future will have many other states to chose from.

[EconProf]

If you believe, as I do, that the two reasons to buy rental property are cash flow and appreciation, then I’d suggest anywhere but California. That assumes that you are concentrating on the very long run and that demographic trends are the best predictors of real estate profitability.
A close look at CA’s future reveals so many reasons why we have doomed ourselves to a bleak economic future relative to other states. The populist Sacramento politicians are driving businesses and the middle classes away with mindless regulation and job-killing laws. Income taxes on the richest 1% of our population now account for 50% of personal income tax revenues. Why should these few people (aka employers) stay in CA?
Who is replacing them demographically? One hint comes from the recent revelation that CA has 30% of the nation’s welfare rolls, but only about 11% of the population.
We’ll soon get soaring utility bills as a result of the recently-passed mandate for 33% of our energy to be from renewable resources by 2020 (AB 32). Look for our electricity rates to be twice that of neighboring states, and very soon, since this is a breathtakingly expensive leap in such a short time.
Studies show interstate mobility actually slows during economic downturns, so there is a pent-up demand currently of people who would like to move but can’t. With any kind of return to normalcy nationwide, Californians seeking a better long-terms future will have many other states to chose from.

[EconProf]

If you believe, as I do, that the two reasons to buy rental property are cash flow and appreciation, then I’d suggest anywhere but California. That assumes that you are concentrating on the very long run and that demographic trends are the best predictors of real estate profitability.
A close look at CA’s future reveals so many reasons why we have doomed ourselves to a bleak economic future relative to other states. The populist Sacramento politicians are driving businesses and the middle classes away with mindless regulation and job-killing laws. Income taxes on the richest 1% of our population now account for 50% of personal income tax revenues. Why should these few people (aka employers) stay in CA?
Who is replacing them demographically? One hint comes from the recent revelation that CA has 30% of the nation’s welfare rolls, but only about 11% of the population.
We’ll soon get soaring utility bills as a result of the recently-passed mandate for 33% of our energy to be from renewable resources by 2020 (AB 32). Look for our electricity rates to be twice that of neighboring states, and very soon, since this is a breathtakingly expensive leap in such a short time.
Studies show interstate mobility actually slows during economic downturns, so there is a pent-up demand currently of people who would like to move but can’t. With any kind of return to normalcy nationwide, Californians seeking a better long-terms future will have many other states to chose from.

[EconProf]

If you believe, as I do, that the two reasons to buy rental property are cash flow and appreciation, then I’d suggest anywhere but California. That assumes that you are concentrating on the very long run and that demographic trends are the best predictors of real estate profitability.
A close look at CA’s future reveals so many reasons why we have doomed ourselves to a bleak economic future relative to other states. The populist Sacramento politicians are driving businesses and the middle classes away with mindless regulation and job-killing laws. Income taxes on the richest 1% of our population now account for 50% of personal income tax revenues. Why should these few people (aka employers) stay in CA?
Who is replacing them demographically? One hint comes from the recent revelation that CA has 30% of the nation’s welfare rolls, but only about 11% of the population.
We’ll soon get soaring utility bills as a result of the recently-passed mandate for 33% of our energy to be from renewable resources by 2020 (AB 32). Look for our electricity rates to be twice that of neighboring states, and very soon, since this is a breathtakingly expensive leap in such a short time.
Studies show interstate mobility actually slows during economic downturns, so there is a pent-up demand currently of people who would like to move but can’t. With any kind of return to normalcy nationwide, Californians seeking a better long-terms future will have many other states to chose from.

[EconProf]

If you believe, as I do, that the two reasons to buy rental property are cash flow and appreciation, then I’d suggest anywhere but California. That assumes that you are concentrating on the very long run and that demographic trends are the best predictors of real estate profitability.
A close look at CA’s future reveals so many reasons why we have doomed ourselves to a bleak economic future relative to other states. The populist Sacramento politicians are driving businesses and the middle classes away with mindless regulation and job-killing laws. Income taxes on the richest 1% of our population now account for 50% of personal income tax revenues. Why should these few people (aka employers) stay in CA?
Who is replacing them demographically? One hint comes from the recent revelation that CA has 30% of the nation’s welfare rolls, but only about 11% of the population.
We’ll soon get soaring utility bills as a result of the recently-passed mandate for 33% of our energy to be from renewable resources by 2020 (AB 32). Look for our electricity rates to be twice that of neighboring states, and very soon, since this is a breathtakingly expensive leap in such a short time.
Studies show interstate mobility actually slows during economic downturns, so there is a pent-up demand currently of people who would like to move but can’t. With any kind of return to normalcy nationwide, Californians seeking a better long-terms future will have many other states to chose from.

[EconProf]

This has to be the ticking time bomb that keeps bankers awake at night: middle-class, underwater homeowners who rationally weigh the pros and cons of default, including the increasing time period they can stay in their home rent-free and mortgage payment-free, and conclude, “Yeah, I’m going to simply stop paying and live on cash instead of credit.”

[EconProf]

This has to be the ticking time bomb that keeps bankers awake at night: middle-class, underwater homeowners who rationally weigh the pros and cons of default, including the increasing time period they can stay in their home rent-free and mortgage payment-free, and conclude, “Yeah, I’m going to simply stop paying and live on cash instead of credit.”

[EconProf]

This has to be the ticking time bomb that keeps bankers awake at night: middle-class, underwater homeowners who rationally weigh the pros and cons of default, including the increasing time period they can stay in their home rent-free and mortgage payment-free, and conclude, “Yeah, I’m going to simply stop paying and live on cash instead of credit.”

[EconProf]

This has to be the ticking time bomb that keeps bankers awake at night: middle-class, underwater homeowners who rationally weigh the pros and cons of default, including the increasing time period they can stay in their home rent-free and mortgage payment-free, and conclude, “Yeah, I’m going to simply stop paying and live on cash instead of credit.”

[EconProf]

This has to be the ticking time bomb that keeps bankers awake at night: middle-class, underwater homeowners who rationally weigh the pros and cons of default, including the increasing time period they can stay in their home rent-free and mortgage payment-free, and conclude, “Yeah, I’m going to simply stop paying and live on cash instead of credit.”

[EconProf]

The trailer park that juts into Mission Bay is the City’s land, and I’d just like to see property rights enforced here. The City (us) should have the right to decide what to do with the land–whether making it into a park for all of us, or selling it for a princely sum to a developer, thus also (supposedly) benefiting us taxpayers.
I’m sure a lively community discussion would follow the City’s gaining control of its land as to how it could/should be used. The point is that a few tenants who lucked out decades ago should not continue to thwart the needs of the broader public.
This isn’t really connected to eminent domain, but to property rights of owners. We are all the owners, indirectly, of this land.

[Author]

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