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Housing shortage now threatens CA economy

By tovarichpeter following x   2018 May 3, 8:47am 743 views   9 comments   watch   sfw   quote     share    

http://www.latimes.com/business/la-fi-housing-costs-migration-20180503-story.html
1   DASKAA   ignore (3)   2018 May 3, 9:04am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Soo, the "housing shortage" is forcing people to move from LA to Arizona while it does not prevent people to move into SFBA? And this is supposed to make sense how? What exactly is causing said "housing shortage" in LA? Not enough desert around it to build new housing?
2   Strategist   ignore (1)   2018 May 3, 9:27am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Satoshi_Nakamoto says
Soo, the "housing shortage" is forcing people to move from LA to Arizona while it does not prevent people to move into SFBA? And this is supposed to make sense how? What exactly is causing said "housing shortage" in LA? Not enough desert around it to build new housing?


The high wage earners are the ones moving into SFBA. They can afford to.
My guess, the lower middle class are most likely to move out of California for a better standard of living in Arizona and Nevada.
As for welfare recipients, nothing beats living in California. It'a a paradise for them.
3   RC2006   ignore (0)   2018 May 3, 9:38am   ↑ like (3)   ↓ dislike (0)   quote   flag        

To many illegals, to many people that contribute nothing and only drain, to many ridiculous pensions, to many taxes.
4   NuttBoxer   ignore (2)   2018 May 3, 11:34am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Bullshit. I've never once had trouble finding a place to rent, having a large selection to choose from. If there's a housing shortage a city as big as San Diego shouldn't have hundreds of available rentals every day of the year.
5   Strategist   ignore (1)   2018 May 3, 11:43am   ↑ like (0)   ↓ dislike (0)   quote   flag        

NuttBoxer says
Bullshit. I've never once had trouble finding a place to rent, having a large selection to choose from. If there's a housing shortage a city as big as San Diego shouldn't have hundreds of available rentals every day of the year.


So what would be causing the price escalations for rental homes?
6   NuttBoxer   ignore (2)   2018 May 3, 11:56am   ↑ like (0)   ↓ dislike (0)   quote   flag        

Strategist says
So what would be causing the price escalations for rental homes?


Inflation, loose lending, and heavy leveraging
7   Heraclitusstudent   ignore (1)   2018 May 3, 12:02pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

NuttBoxer says
Bullshit. I've never once had trouble finding a place to rent, having a large selection to choose from. If there's a housing shortage a city as big as San Diego shouldn't have hundreds of available rentals every day of the year.

In a market like renting there will always be roughly the same available inventory regardless of the relative scarcity of units. What shows it is scarce is the price, and who can afford it: i.e. not most of the US population. The same market is there, just restricted to a fraction of the population.

NuttBoxer says
Inflation

If the price goes up much faster than inflation, then you know there is a capacity problem.
8   Heraclitusstudent   ignore (1)   2018 May 3, 12:06pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

The state's median home price is now $537,315, reflecting a compounded annual growth rate of nearly 10% since 2012, according to real estate website Zillow. The median rent for a vacant apartment jumped an annual rate of nearly 5.5% to $2,428.



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