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"It's Just Too Expensive" - Almost Half Bay Area Residents Want Out

By Patrick following x   2018 Jun 7, 5:35pm 546 views   12 comments   watch   sfw   quote     share    


https://www.zerohedge.com/news/2018-06-06/its-just-too-expensive-almost-half-bay-area-residents-want-out

Reports of an 'exodus' from California are no longer click-bait headlines, but the very real life-affecting decisions sending the 'great middle-class' anywhere but 'here' are becoming more vivid every month.

The latest example of widespread pain comes from the San Francisco Bay Area where a poll released this week by a local advocacy group showed that 46 percent of Bay Area residents surveyed said they want to move out of the area within the next few years. That number is up from 34 percent in 2016 and 40 percent last year in the same poll.

As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.
1   Strategist   ignore (1)   2018 Jun 7, 6:34pm   ↑ like (2)   ↓ dislike (0)   quote        

Patrick says

As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.


High home prices are also dissuading many from moving to the BA/California even with good job offers. Two of my distant relatives decided to stay put in the East even though they had opportunities waiting for them. They decided it was just not worth it. High home prices, high taxes, etc.
2   Tenpoundbass   ignore (11)   2018 Jun 7, 7:38pm   ↑ like (1)   ↓ dislike (0)   quote        

how do they expect to move if people don't want to buy their pain?
RE crash would be their only way out at this point.
3   DASKAA   ignore (3)   2018 Jun 7, 7:46pm   ↑ like (2)   ↓ dislike (0)   quote        

Patrick says
As SacBee's Michael McGough reports, the reason for the urge to leave might be pretty obvious, at least to anyone knowledgeable on California: It's just too expensive.


And yet the fucking morons go ahead and vote for $3 bridge toll increase. :facepalm:
4   Ceffer   ignore (1)   2018 Jun 7, 7:57pm   ↑ like (1)   ↓ dislike (0)   quote        

It used to be in the olden days when people moved away from California, it was always with the expectation that they would move back again if they could.

Now, when you talk to people who have moved away, they all say they wish they had done it sooner and will only come back to visit family and friends or for business.

A couple I know just moved to Albuquerque. She was raised there, but her husband (native Californian) was delighted with the home they could buy and the friends they have after only four months. A woman we know who moved to Nashville said the same, thing, she loved it, not for the weather, but for the people and the way she could live.

Another guy is selling his expensive home in a harbor community in SoCal, and buying two homes in North Carolina, one to be near children and another at the beach, with enough money left over to retire early.
5   lostand confused   ignore (0)   2018 Jun 7, 8:11pm   ↑ like (1)   ↓ dislike (0)   quote        

Yeah you sell a home for 1 million or more-that is a nice next egg.
6   Patrick   ignore (0)   2018 Jun 7, 8:15pm   ↑ like (2)   ↓ dislike (0)   quote        

I think most rich Californians are actually happy that they are driving out the middle class.

At least for now. They will have to pay extra for all services as more and more ordinary people leave.
7   clambo   ignore (4)   2018 Jun 8, 9:19am   ↑ like (0)   ↓ dislike (0)   quote        

I have a friend who got out. He sold his place in Berkeley for a lot of dough, retired and he's pulling an Airstream behind an SUV for fun.

Another friend was floating on the turquoise waters of S. Florida (78F) the other day and is considering selling his $1.2 million house and doing fishing, diving, and beach combing for a few decades.

Yet another friend has the fanciest house of the three and he said he wants to sell and move when it hits $2 million. His wife objects so he can't do anything he wants to do.

He wishes he could stop working and have a boat to go fishing which is his favorite past time. Of course with $2 million he could buy 1. a nice house near the coast 2. buy a boat 3. buy investments (high yield bonds, dividend stocks, fixed annuities, etc.) and even travel.

I have a brother in New York who can do the same thing but of course he has the same problem; his wife objects to the idea.

I find it fascinating that the women's magazines all talk about women achieving their dreams, while married women like to kill their husband's dreams.
8   ThreeBays   ignore (0)   2018 Jun 8, 9:25am   ↑ like (0)   ↓ dislike (0)   quote        

I wonder how many of the 46% hate patrick.net for advising them to remain renters while rents and house prices kept getting more expensive?

Our only regret is not buying earlier. We got our place just two and a half years ago when houses looked expensive, but already our holding cost (interest, insurance, taxes) is $2k/month lower than rents for an equivalent home today. If I'd kept following the advice here I would also be looking to leave the Bay Area.
9   Heraclitusstudent   ignore (1)   2018 Jun 8, 11:25am   ↑ like (1)   ↓ dislike (0)   quote        

46 percent want to leave, but how many will actually do it?
Golden cage!
10   APOCALYPSEFUCKisShostikovitch   ignore (32)   2018 Jun 8, 11:34am   ↑ like (0)   ↓ dislike (0)   quote        

All California has to do is repeal the 13th Amendment and grab the Indian guys to wait tables and wash their kids and it will be paradise for the ownership class.

Exactly as the Founding Fathers commanded.
11   HeadSet   ignore (1)   2018 Jun 8, 2:33pm   ↑ like (0)   ↓ dislike (0)   quote        

Another guy is selling his expensive home in a harbor community in SoCal, and buying two homes in North Carolina, one to be near children and another at the beach, with enough money left over to retire early.

As old Patnet poster DinOR used to say, "Equity Locust."
12   RC2006   ignore (0)   2018 Jun 8, 3:31pm   ↑ like (0)   ↓ dislike (0)   quote        

Even if the bay area wasn't so expensive it still has a lot of other issues that seem to be only getting worse.




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