California

[ultrarunner]

Government is often too slow to act... and this is why everything costs more in most cases.

When the Olympia brewery shut down it took years to figure out the water rights and it had a tremendous allocation... remember... It's the Water...

My brother has deeded water rights for his ranch... not much be some of the best water anywhere...

Different agencies have approached him and offered as much a 10k to purchase.

The ironic thing is the district was in negotiations for years to buy the entire parcel and elderly owners started to think by the time that happened they would be dead and buried...

 

[buickanddeere]

California Now World's Sixth-Largest Economy


If the state of California were its own country, it would have the sixth-largest economy in the world, ahead of 10th-place Brazil, ninth-place Italy, eighth-place India and, now, seventh-place France. California's economy trails only the United States, China, Japan, Germany, and, barely, the United Kingdom.

The state's economy grew by 4.1% in 2015, well ahead of overall U.S. growth of 2.4% and French growth of 1.1%. According to a report at Bloomberg News, four of the world's 10 largest companies are headquartered in California, including tech heavyweights Alphabet Inc. (NASDAQ: GOOGL) and Facebook Inc. (NASDAQ: FB).

Bragging or complaining ?

 

[dragoneggs]

When the Olympia brewery shut down it took years to figure out the water rights and it had a tremendous allocation... remember... It's the Water...

... and a lot more. Was my old man's favorite beer.

 

[ultrarunner]

It was a family favorite too... got to luv those Artesians.

The Falls Terrace Restaurant across from the old brewery still serves Olympia beer.

 

[orezok]

What gripes me is Wall Street and overseas investors are planting large tracts of water-loving walnuts and almonds in the Central Valley as an investment strategy to hold on to senior water rights that adhere to the land they bought.

Unfortunately, it takes one gallon of water for every almond raised and their biggest market is Japan.

 

[TCJatko]

Yep, everything's great in California...for some. For others, maybe not: California's skyrocketing housing costs, taxes prompt exodus of residents - San Jose Mercury News

 

[ultrarunner]

The thing is as soon as someone leaves there are people jumping in...

I doubt the population is declining.

Don't forget many that leave are cashing out and taking the money buying homes in other states which creates other issues.

I hear this all the time from friends in Oregon as to how Californians with cash are making so the local kids don't have a chance.

 

[California]

I hear this all the time from friends in Oregon as to how Californians with cash are making so the local kids don't have a chance.

Heck that's true within California as well. Money from all over the world is pouring in, bidding up real estate prices. These price increases fuel the speculation that ratchets up prices more. Kid starting out can't compete with millionaires outbidding them.

Price appreciation like this worked to my benefit 40 years ago. As a Carpenter I could buy and upgrade rentals in my off time. Upgrading combined with RE general market appreciation created new savings that paid for grad school and eventually got me to early retirement, something I never expected starting out. Periods of rapid appreciation are good times for those who can afford to invest in RE, hard times for anyone hoping to buy.

 

[ultrarunner]

Real Estate is always cyclical... at least I have gone through several downturns plus I remember walking past boarded up homes in Oakland on the way to school.

The city would sell the home of $1 to a person that moved in and made improvements and after 5 years you would have clear title...

Mostly painting, a new roof, cleanup would be enough to meet the fixing part.

Now those homes that went for a $1 back in the 70's are pushing 400k!

 

[smstonypoint]

During the 12 months ending June 30, the number of people leaving California for another state exceeded by 61,100 the number who moved here from elsewhere in the U.S., according to state Finance Department statistics. The so-called "net outward migration" was the largest since 2011, when 63,300 more people fled California than entered.

"The main factors are housing costs in many parts of the state, including coastal regions of California such as the Bay Area," said Dan Hamilton, director of economics with the Economic Forecasting Center at California Lutheran University in Thousand Oaks.

"California has seen negative outward migration to other states for 22 of the last 25 years."

California's skyrocketing housing costs, taxes prompt exodus of residents - San Jose Mercury News

Any idea whether the data account for undocumented immigrants?

Steve