patrick.net

Heraclitusstudent says

effectively prevent millions of Asians to come to California

it only takes dozens of well-heeled buyers to affect a local market, not millions.

http://www.cnbc.com/id/101225345#.

and we're not going to close the door to them.

Strategist says

You tell me, why are they willing to pay that high price?

not helping matters:

http://research.stlouisfed.org/fred2/series/CUUR0000SEHA

rents have more than tripled since the 1970s.

that, combined with low interest rates:

http://research.stlouisfed.org/fred2/series/MORTG

has pushed up the housing cost curve immensely.

http://research.stlouisfed.org/fred2/graph/?g=EJc

shows the average wage has risen from $13,000 to $50,000 since the 1970s.

Housing is our primary life need, it's easier to live without food for a day than tenancy in housing.

Now, if you'll excuse me, there's a beach calling me. : )

Heraclitusstudent says

Strategist says

We kicked out the Native Americans didn't we?

Yes, by force.

You do realize there are immigration laws with a ceiling on the number of immigrant visas that effectively prevent millions of Asians to come to California?

Lots of loopholes too. If you're illegal no laws apply.

Bellingham Bill says

Now, if you'll excuse me, there's a beach calling me. : )

At 7.00pm on a Tuesday? Enjoy the sunset walk...take your dog with you.

Strategist says

Lots of loopholes too. If you're illegal no laws apply.

So Chinese millionaires will come - illegally - with their millions (after all it's easy to open a bank account in the US without a ss number) - and then spend their millions to buy the precious real-estate in the San Luis Obispo global metropolis.

Do you realize the number of weird rationalizations you have to make to justify your belief?

Bellingham Bill says

it only takes dozens of well-heeled buyers to affect a local market, not millions.

So you are saying a few dozens platinum-shitting Chinese will come and buy half of California?

Why? How?

jazz music says

Think about this: the game only ends because the currency is not expandable, no credit to keep it alive.

Humm... I think it ends because someone has all the money and all the assets, and the other players die the mouth opened.