Redwood City, CA
Followed by 1
Ignored by 1
In United States
Registered Jul 08, 2009
pkennedy's most recent comments:
- On 7 Dec 2013
Are the Chinese buying California homes in large numbers?,
It will drive prices up. But not by much.
6% is like 1 in 20.. A lot but probably not enough to impact prices in a meaningful way.
- On 11 Nov 2013
Most Californians Can't Afford to Live in California!,
Housing is where it is, because that's what people are willing to pay. It doesn't matter what props/subsidies are out there, housing will remain out of reach for people. Why? because it's desirable place to live, and people will bid up the land everywhere.
Removing subsidies or props will change the game for a few people, but over all it will remain the same. Housing will remain out of reach for those not putting every penny they have into it, because the ones who do own, are willing to do this.
If you're not willing to put every penny you have towards housing, then you need to move further out. As more people move in, that distance grows and grows. If you were a section8 subsidy, your rent isn't going to suddenly drop, it's going to go down a tiny bit and you'll be forced out, but to rent you'll have to move WAY out there, and someone from WAY out there, might be able to move a bit closer, as someone a bit closer moves into a place that someone a bit closer moved out of, to move into one of those closer section 8 houses.
- On 11 Nov 2013
Rising sea levels, falling real estate values in Florida,
Based off what I've heard, raising sea levels also push up the water table and flood the lands below creating a swelling effect which basically offsets a lot of the raising sea levels. A lot of doom and gloom, but probably will have less effect than most realize.
Although there are some areas where this won't happen, where bedrock will essentially absorb nothing. Floridia should float quite a bit though.