[The-Shoveler]

If there was such a thing as a California state human

it would be a poser.

[The-Shoveler]

Yea California is home of the posers,

I am looking forward to getting a used Tesla one day, there seems to be a lot more of them driving around L.A. than I expected to ever see.

Not that there is a lot of sub-prime Tesla’s out there I would imagine.

[The-Shoveler]

Actually I would be OK with Sub-prime-loan cars, except where the heck do they go after being repro’ed

I mean I expected to see them backing up with dealers having to buy extra parking space for them,

You know deals of a lifetime and all that after the 2009 crash.

[The-Shoveler]

Some will argue but I think the effect on the rise of Minimum wage will mostly be on wage earners making 50K and under,

It will just be a little catching up mostly.

but people will freak at first I think.

Heck your costco Hot-dog and soda may even break $1.80.

Actually it’s probably been closer to 30 years since we had a meaningful rise in wages.

Most workers today never saw 7-10% annual rises without promotions like were fairly common before 1990.

[The-Shoveler]

Anyone paying attention these days ?

That’s about 20% by 2016

California has become the first state in the nation to commit to raising the minimum wage to $10 per hour, with the increase to take place gradually through the start of 2016, under a bill Democratic Governor Jerry Brown signed into law on Wednesday.

The law raises minimum pay in the most populous U.S. state from its current rate of $8 per hour to $9 by July 2014, and $10 by January 2016, well above the current federal minimum wage of $7.25 an hour.

Following President Obama’s call to raise the minimum wage in his 2013 State of the Union address, Senator Tom Harkin (D-IA), Chair of the Senate Health, Education, Labor and Pensions Committee, and Representative George Miller (D-CA), the top Democrat on the House Workforce Committee, have introduced the Fair Minimum Wage Act of 2013. It would:

Raise the federal minimum wage to $10.10 per hour by 2015, in three steps of 95 cents each.
Adjust the minimum wage to keep pace with the rising cost of living starting in 2016 – a key policy reform known as “indexing,” which ten states are already using to prevent the minimum wage from falling in value each year

[The-Shoveler]

We have not had real wage inflation in almost 20 years,

I am not sure people will know what to expect or how to react when they have to live with what 90% of the rest of the world lives with.

[The-Shoveler]

Unless you see 20/80 no doc loans, then I don’t think we will see a crash as big as the one we just had.
I think you would have to see builders going full tilt for a few years as well.

Personally I think we will see wage inflation finally hitting.

[The-Shoveler]

[quote=flyer]We started investing in CV properties from the late 80’s on, and would never have believed prices would escalate as they have over the years. I don’t think it would have ever happened without QC.

[/quote]

Yea I would have to agree with this part, without QCOM and all the tag along wireless industry in that area CV would not have been anything like it is today.

It would still be an expensive area IMO but just not a ridiculously expensive one. 3000+sqf homes on 4000sfq lots etc… going for 1M+ (without Ocean views) and Condos going for 600-800K (without ocean views).
I must admit that to me seems ridiculously expensive.

[The-Shoveler]

When most people I knew bought their first house it was a 40 year old beater/fixer 20 miles from the coast in a soso neighborhood and soso schools.

then they moved up if and when they could afford it.

they were working professionals with degrees starting out for the most part

[The-Shoveler]

For the most part it ended up being a classic pump and dump.

[The-Shoveler]

2008 could have turned out very different as well if they wanted it to.

[The-Shoveler]

No I am assuming that they knew what was going to happen (if not planned).
And there was wiggle room, there is no wiggle room right now.

[The-Shoveler]

I have become convinced of two things,

1) The market will not crash because I have not given up and moved my 401K into stocks.
It is waiting for me and only me to give up and buy.

2) The PTB will not allow another crash to occur in the housing market or stock market until they feel the local municipalities Tax base and retirement pension funds that are reliant on stocks and housing can take the hit which is a long way off IMO.

Of course all of this is just my opinion

[The-Shoveler]

It’s not about housing or stocks, it’s about local municipalities Tax base and retirement pension funds that are reliant on stocks and housing.

If either go bust anytime in the next few years,

local municipalities will be dropping like flies.

[The-Shoveler]

To me that whole area is just part of the QCOM employee housing project.

Just kidding sort of.

and I though TV was bad about identity issues LOL.

[Author]

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